HashCash Consultants expands its blockchain solutions also in the healthcare sector. As the Californian company will help a pharmaceutical giant to build a blockchain platform for DNA sequencing for precision healthcare.
Blockchain and Genetic Sequencing
This collaboration aims to facilitate the conservation of DNA-related data, allowing owners to have more control over their genome records and its usage. At the moment, the storage of this type of information has raised a number of issues about transparency and privacy.
According to Raj Chowdhury, CEO of HashCash, a Blockchain-based platform for genetic sequencing will help in the monitoring and choosing of the therapy selection after the disease risk profiling of an individual. Through genetic sequencing, medical experts can analyze and support patients with a risk of genetic disease at present or in the near future.
The goal of HashCash is to create a platform that contains enough data to create precision drugs, a type of medicine used to create tailored treatments based on the study of genomes. This type of solution is currently non-existent as two problems must be overcome: the first is the lack of a database with this type of information. However, if this data set exists, we are faced with the second problem, namely compliance with the laws on the use of these data.
Blockchain technology has consistently been touted as a silver bullet for operational issues across industries and its hard to argue otherwise. This especially holds true during a time when the world is battling a global crisis.
That the U.S. Cybersecurity and Infrastructure Security Agency (CISA) had listed blockchain among the critical infrastructure services needed to effectively reduce the spread of COVID-19.
HashCash aims at addressing both these issues and provide a comprehensive solution through the use of blockchain technology.
The HashCash team claims their core banking systems come with a vast array of features including multi-layered design for multi-platform and multi-database flexibility, zero downtime, an in-built workflow engine, blockchain security, as well as multilingual, multi-entry, multi-currency and multi-time zone solutions.
Hashcash was utilized by a number of organizations in an effort to combat spam and remailers. Notable among these is the spam filter service Spam Assassin, and email client Mozilla Thunderbird. The technological giant Microsoft also temporarily used a version of Hashcash in an email postmark as part of its efforts to reduce spam for its customers. The postmark is now deprecated.
The platform will, in fact, be usable by patients, health specialists, governments, researchers and providers of health technology that, through blockchain, will be in coordination with each other to create precision drugs while keeping control over information sharing.
Biology and Blockchain
The combination of genetic sequencing and blockchain technology is not actually new, Nebula Genomics enables customers to submit their genome samples to avail of privacy-enhanced service offerings.
However, we must pay close attention to this mix of technologies. The transparency offered by the blockchain for the storage of this information is certainly very useful, however, it does erode a degree of privacy which can lead to unexpected and ethically fraught uses.