Health care has come to be widely recognized as one of the most important sectors of the economy in light of the raging pandemics and maladies impacting people worldwide. As nations seek to improve their systems and care for those in need, healthcare is a constant subject of discussion. Every one of us will require healthcare at some point in our lives, which is why it is crucial to see innovation in this field.
Vast research and development have been going on for ages on numerous medical conditions which can be identified and treated using our DNA. Multiple initiatives aim to boost global health. Powerful statistical tests are necessary to unravel the complex relationship between genetics and disease.
Surprisingly, it is very unclear what happens to the patient’s DNA and RNA once they are admitted to the hospital. Are they used in research or stored for future use; it is still a question. Secret DNA testing without the patient’s knowledge presents a completely new potential threat to the confidentiality of genomic data. Customers and patients of some organizations and businesses that offer DNA testing can obtain genetic results from numerous biological samples without their permission. DNA can be extracted in a variety of ways, including from licked envelopes, hair, nails, blood stains, etc. These DNA samples can be used in labs for a variety of tests, including parentage determination, diagnostic, carrier, prenatal, and presymptomatic, to name a few.
Furthermore, when combined with our extremely confidential health information, genomic data can reveal very personal details about us and our relatives. There are major disagreements on sharing or revealing genome private information among individuals, businesses, and the medical research community.
The DNA Digital Vault (Genomic Vault)
This is the era of digitalization and no doubt R&D in the medical and healthcare field is not left out. There are developments like digital vaults which function just like crypto wallets. A digital vault is a platform to store the patient’s DNA and RNA data in encrypted form.
But, did you know that the company that conducts certain genetic tests can profit by selling your data to other companies?
Sharing genomic data has become a hugely lucrative business. There are many commercial companies that are in this business.
Blockchain technology may also be incorporated into the software of the genome company to promote industry-wide cooperation and assist in the identification of the most effective approaches for exchanging encrypted DNA data.
Digital currency can play a significant role in these types of transactions.
Is blockchain-based DNA marketplaces a possible solution to data sharing issues?
The development of specialized cryptocurrency “tokens” could result in the establishment of markets for the purchase and sale of DNA data. The blockchain could securely store a record of every transaction. In exchange for tokens that can be fully paid out or used to purchase services like disease risk reports, people will be able to sell researchers their (encrypted) genomic data.
There are companies like EncrypGen or Zenome which appear to be the most developed platforms that allow you to upload and share your genomic information securely. The private blockchain lets customers upload their DNA sequences from other providers or use one of the services.
Depending on where your DNA data is provided, you may already have a contract allowing third parties access to your data.
Individuals may now be able to choose who has access to their encrypted DNA data and sell it to research organizations for their own financial gain thanks to new blockchain-based marketplaces and new cryptocurrencies.
One such cryptocurrency revolution, led by NSUR Coin, has increased support for wellness and good health.
Let’s understand what is NSUR Coin in detail.
The NSUR ecosystem is driven by health and wellness, and NSUR Coin is the first and only deflationary, high-utility, digital reward token ever created.
With NSUR Coin, you can shop for medical supplies and services. All family members are eligible for the NSURx benefit card, which offers up to 80% discounts on prescription medications. The 35,000 participating pharmacies in the NSURx network, both independent and chain pharmacies, accept prescription orders.
Users of NSURx benefit cards are eligible for discounts on prescription costs every time they a prescription.
In terms of ownership, our DNA and its digital representation are currently under legal uncertainty. There are still startups in their early stages, despite the fact that every system has potential weaknesses. Positive changes appear to be coming with the adoption of Blockchain technology, which may pave the way for clarity and security in this space in the future.