Two Healthcare Tech Firms Establish New Field Of Data Economics Using Blockchain

Nebula Genomics and Longenisis, two leading firms in artificial intelligence and blockchain technology for healthcare, are developing a platform for the storage and exchange of genomic data, according to an announcement May 15.

According to the release, they also aim to establish a new research field of "Life data economics."

Nebula Genomics is a San Francisco-based biotechnical company that uses blockchain to "Build a marketplace" for clinical data.

Longenesis is a Hong Kong-based partnership between Insilico Medicine and the Bitfury Group, which makes blockchain platforms for the exchange of health data.

The companies will reportedly apply artificial intelligence and blockchain technology to develop a platform for individuals and large data providers to store, manage, exchange, and profit from genomic and other types of clinical data.

"By allowing individuals and large data providers such as biobanks to maintain ownership of their genomic data on our platform and profit from it, Nebula Genomics seeks to incentivize generation of genomic data. In doing so, we will gather the data on a single network where it can be conveniently and securely accessed by researchers. In other words, we will make a marketplace that will create an equitable and efficient economy for genomic data."

Longenesis is developing a blockchain-based platform to store and exchange health-related data like lab test results.

The first, "Microdataeconomics," is "The study of the value of life data that is used for drug discovery such as proteomics or data regarding the structure and activity of specific molecules, both in vitro and in vivo." The second, "Macrodataeconomics," is " the study of the value of life data that is used to determine human health such as electronic health records and genomics.

The blockchain-powered platform is reportedly designed to track and protect pharmaceutical data.

The initiative aims to examine "How sharing data across health care organizations on blockchain technology can improve data accuracy, streamline administration and improve access to care."