Macrogen, one of the most popular biotech company in South Korea, plans to begin using blockchain for sharing medical information. As per the latest details, the firm stated that the technology will be utilized in order to store and share genomic data. The statement is released just after two months of collaboration between Macrogen and Bigster. Bigster is a popular big data company located in South Korea.
Making Improvement in Genomic Analysis
Macrogen is on the path to becoming the first local biotech company to fully sequence Korean genome. As per the firm, numerous benefits are associated with genome analysis. When compared with other methods, genome analysis helps to diagnose the disease effectively. Also, it allows doctors to offer personalized treatment to deal with unique and isolated situations.
Every year, there is a significant increase in the number DNA tests. According to an estimate, more than 17 million people will get DNA tests in 2018. This number is 4 times more than total DNA tests happened in 2016.
Bigster will provide Technical support to Macrogen
Both the firms will launch the project by June 2019. Various other firms will also contribute to the project in the upcoming months. This is not the first company taking help of blockchain to develop projects. Firms like LunaDNA, Nebula Genomics, and such other local companies are taking advantage of blockchain technology for storage of DNA.
DNA data requires extreme attention, as it contains personal information and also helps in forming important decisions. Hence, security as well as privacy, both factors should be considered before building data storage devices.
To solve the above issues, both the firms look up to blockchain due to its tamper-proof nature because it helps to “ensure high encryption and big data processing capabilities.”
Yang Kap-seok, the CEO of Macrogen reported that all the issues linked with trying to obtain genome data provided it is readily available. He stated,
“Despite its wide utility, gene data has been difficult to move around due to privacy protection issues and technological barriers. We hope that our upcoming blockchain-based platform will allow health care gene and medical big data to be circulated freely.”
Blockchain Technology is now used in a wide number of industries. Also, it is considered one of the most secure technologies in the world. The use of technology in medical and recordkeeping industry denotes that Blockchain is the most popular technology in the world.