Officials From Vietnam Support A New Collaboration To Tokenize Genomic Profiles.

Nguyen Chi Dung, a Vietnamese official, thinks that data ownership and privacy can benefit the healthcare industry.

Genetica, a genomics company based in Asia, and Oasis Labs, a Web3 data management company, have teamed up to tokenize genomics profiles in order to improve genomics-based precision medicine.

Genetica will migrate 100,000 genomic data profiles to the Oasis Network. These profiles will give data owners complete control and transparency over how their genetic data is handled.

The alliance also has the support of Vietnamese government officials, who are enthusiastic about Web3 technology and data privacy. According to Nguyen Chi Dung, who is from the Ministry of Planning and Investment in Vietnam, their officials are firm supporters of Web3 and blockchain and believe that it brings true benefits to society. Chi Dung explained that:

“The technology sector in Vietnam has been continuously growing and brings practical solutions to issues such as healthcare, education, finance, and others. […] By empowering data ownership and privacy sharing, it can help drive real benefits to healthcare and precision medicine.”

Dawn Song, the founder of Oasis Labs, believes that data is the “new oil,” and that it’s critical to design tools that prioritize privacy and allow for ethical data use. “Data can propel the global economy once it is treated as property,” he believes.

Tuan Cao, Genetica’s co-founder, stated his joy in the relationship because it allows them to achieve one of their objectives. “The partnership enables us to turn the idea of issuing GeneNFTs to our users a reality,” said Cao.

Meanwhile, the EU Blockchain Observatory recently released a paper highlighting blockchain’s uses in the healthcare industry. According to the paper, there are obstacles that blockchain can overcome on the path to “Healthcare 4.0.”

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