Genetica, a Vietnamese-founded genetic engineering company, officially signed a cooperation agreement with Oasis Labs under the witness and support of the Vietnamese Prime Minister’s delegation, on May 17 in San Francisco (USA) ).
Genetica is Asia’s leading growth company, applying blockchain technology to secure genetic data for customers. A strategic partnership with Oasis Labs, a blockchain network in the field of decentralized data management and secure computing, will enable Genetica to empower customers with data ownership.
Specifically, Genetica says that customers who decode their genes can control their genetic data in a comprehensive, transparent way, and have the right to decide whether or not to share their data with third parties.
Genetica will use the Oasis Labs blockchain network to secure 100,000 genetic data.
“Over the years, investment in the technology sector in Vietnam has continuously grown. More and more companies in Vietnam have developed and applied technology to bring innovative, affordable solutions with optimal quality in the fields of health, education, finance…”, Ministry of Finance. Minister of Planning and Investment Nguyen Chi Dung speaking.
“The cooperation between the two companies is an example of a breakthrough solution in technology formed by the increasingly sustainable friendship between Vietnam and the United States in the fields of technology and investment,” the Ministry of Industry and Trade said. Head Nguyen Chi Dung continued.
Dr. Cao Anh Tuan, Co-founder and CEO of Genetica, said the partnership agreement helps the company realize the idea of releasing GeneNFT to customers. GeneNFT allows customers to be owners of genetic data encrypted in the form of tokens, helping customers benefit from the company’s data distribution system.
“This further accelerates the application of genomic knowledge to bring precision medicine, and many other options for preventive health care and personalized care closer to the community. “, Mr. Tuan informed.
By allowing each individual to own their own genetic data, Oasis Network ensures the rights of customers’ personal data. And they will grant access to the data for use in precision medicine.
Previously, Oasis had encoded 30,000 Genetica gene profiles, following the partnership agreement, the number is expected to grow to 100,000.