DGAP-News Aladdin Healthcare Technologies signs Agreement to build proprietary Genomic Data Blockchain Platform with Zero Knowledge Proof
DGAP-News: Aladdin Healthcare Technologies SE / Key word(s): Letter of Intent/Alliance
Aladdin Healthcare Technologies signs Agreement to build proprietary Genomic Data Blockchain Platform with Zero Knowledge Proof
BERLIN/LONDON January 22, 2021 - Aladdin Healthcare Technologies SE ("Aladdin", ISIN: DE000A12ULL2), a leading developer of Artificial Intelligence (AI) based healthcare diagnostics and drug discovery applications, has signed a Memorandum of Understanding (MOU) with Consentia Ltd, with the goal of building a Blockchain platform based on Zero Knowledge Proof (ZKP) for safely sharing genomics and multi-omics data.
Since genomic data analysis is growing in prominence for precision diagnosis and medicine, the need for fast and secure sharing of such data is increasing worldwide and requires appropriate tools to ensure people's data privacy. Aladdin will build a ZKP-based blockchain platform to gather global healthcare data with Consentia, an innovative blockchain development start-up in the UK and Hongkong, led by Paul Sitoh, one of the most sought-after experts in blockchain technology and co-builder of Hyperledger Fabric.
Nowadays, the healthcare industry is dominated by a lot of time-consuming due diligence based on privacy issues. Zero Knowledge Proof (ZKP) is a cryptography method by which data can be proven without actually showing or sharing any additional information. Both, Aladdin and Consentia will collaborate to build a proprietary data-tool based on ZKP for eradicating passwords and protecting the identities of global patients that submit multi-omics and genetic healthcare data to centralized databases. Furthermore, the parties will develop a new blockchain platform based on the ZKP-tool where users and healthcare professionals will be able to safely access and store the healthcare data.
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