Macrogen To Support Genome Data Blockchain
South Korea’s Macrogen, a top biotech company involved in genome sequencing strategies. On the 6th of August, the company announced forming a new partnership with Bigster, a Big Data company, as a means of working together on developing a medical blockchain designed to safely store assets and medical data within.
Both companies are expecting to complete the development of the new platform by mid-2019. Both companies are walking in the shadow of several big-name companies like LunaDNA and Nebula Genomics, all already operating on a blockchain designed for DNA storage. Genomic data consists of private information regarding any individual and stores any biological information which requires advanced security and protection obtainable through DLT. To continue protecting this vital information from hackers and other malicious users, upgraded crypto and non-cryptographic protocols must be introduced.
In terms of security, blockchain is among the sturdiest and most difficult technologies to hack and break into and also enables huge amounts of information to be handled and managed by involved parties. The company plans on creating and introducing a new private blockchain which hints to a possible joining of many drug companies, hospitals, other sequencers and research facilities, all dedicated to advancing medicine and healthcare through the new tech.
Chief Executive Officer of Macrogen, Yan Kap-Seok stated that even with its many use cases and utility, gene sequencing has provided a hard time in transferring data due to several protection complications and technological hindering. He adds that the company aims at introducing their blockchain and see a better, safer and faster way of transferring large medical data amounts. The company managed to get their license for research equipment and as a means of legally operating their CRISPR-tech from MIT and Harvard’s broad institute. Earlier this year, another startup based on blockchain, named Shivom, managed to collect over $30M in its initial funding as a means of further developing their genomic pool of information.