We live in a time where the most debated concepts, such as data ownership, privacy, and monetization, are hot topics. Still, one particular data is genuinely personal to all The human genome. As per science, we are 99.9 percent identical in our genetic makeup, which applies to all species. Still, the remaining 0.1 percent contains unique variations in code, which are believed to influence our predisposition toward certain diseases and even our temperamental biases- Now you must be thinking about how it is related to Blockchain. To know the answer to that, keep reading.
Genomics and Blockchain:
In 2018, several examples were seen of how badly the actors can wreak havoc with the nefarious use of even relatively trivial data. People are concerned with protecting this most important form of identity. Blockchain has devised considerable interest as a powerful alternative to the closed architectures and proprietary exploits for the existing genomics data market. This promises to secure and open a protocol for life’s code.
Hold on! We have more to tell you; keep reading!
What are Encrypted chains?
In 2003, the process of sequencing our human genome to the molecular level of four ‘letters’ binding the double-stranded helices of our DNA was completed. The cost of this project was $3.7 billion, and it had 13 years of computing power. In today’s scenario, the same project will cost $1,000 per unique genome in a few days. However, it has been estimated to cost as low as $100 soon.
It is predicted that as the genome data-driven drug design and targeted therapies evolve. The pharmaceutical and biotech companies’ interest will escalate to the genomics data market in the coming years. It is also expected that it will hit $ $27.6 billion by 2025.
Technology and Genomics:
Genomics has unparalleled potential to change the dynamics of modern medicine. This relies on leveraging the vast datasets which establish the correlations between genetic variants and traits. Suppose the Facebook likes and news feed stupefactions dataset is recognized as a significant, monetizable asset. In that case, the value locked up in your genetic code will increase the revolution in precision medicine and gene editing advances exponentially.
Over the past year, unprecedented approvals have been given to the new genome therapies in the US. One edit cell from a patient’s immune system was used for curing Hodgkin lymphoma. Another was used to treat a rare retinal disease that could lead to blindness. Isn’t it amazing?
More to know about Genomics:
When generating the big genomics data, the analysis still needs to decode the 4 bits of a living organism. The ones face hurdles that are not only scientific but also ethical, technological, and social.
Are you all interested to know more? Then keep reading till the end to decode some more exciting information on Blockchain and genomics.
What is Lie-proofing the Blockchain?
As per 23&Me, it stores about five million genotype customer profiles. Its rival platform is Ancestry. co has around 10 million. For each of these profiles, they will collect around 300 phenotypic data points by creating surveys that aim to determine the number of cigarettes you have smoked during your entire lifetime. This information will be an assumption. Another topic they will aim to cover is whether yoga or Prozac is more effective in managing depression.
These are called phenotypes. It is a set of observable characteristics of an individual resulting from the interaction of their genotype with their environment. While sharing as well as generating access to this data, it is vital for decoding the genome via a correlation of variants and traits.
In this respect, Grishin has quoted- “If people can monetize their genomic data, then you can imagine that some people might think, ‘If I claim to have a rare condition, many pharma companies will be interested in buying access to my genome’ — which is just not necessarily true. A genome’s value is difficult to predict, and it’s incorrect to say that if you have something rare, your genome will be more valuable. Many studies need a lot of control samples that are kind of just normal.”
Education is one of the main tools that can make people aware that they will not make any money by lying. While the middle-of-the-road genome might be just as interesting for a buyer as an unusual one. Not only this, but Grishin has also noted that the blockchain system will be offering unique mechanisms which deter deception. Even in a place where education is failing to function. In this respect, he quotes- “Blockchain can help to create phenotype surveys that detect incorrect responses or identify where an individual participant has tried to lie. And this can be combined with blockchain-enabled escrow systems, where, for example, before you participate in a survey, you have to deposit a small amount of cryptocurrency in an escrow wallet.”
Blockchain and big pharma:
Not only is technology paired with Blockchain but also big pharmaceutical firms are tied up. Prescription drug sales are forecasted to hit a whopping $1.2 trillion by 2024. However, the closing feedback loop between the pharmaceuticals and the millions of people who usually take their pills daily will still face significant hurdles.
Conclusion:
That’s all, folks; I hope the article helped you get all the information you needed.
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