Vietnamese Prime Minister and Government Support Genetica and Oasis Labs Partnership to Enhance Precision Medicine Using Oasis Platform
Genetica, the leading genomics company in the Asia Pacific region, and Oasis Labs, a leader in developing cutting-edge technology for decentralized data management in Web3 and confidential computing, have established a partnership to enable the first genomic analysis platform in Web3 for precision medicine at scale. This collaboration will provide a first-of-its-kind solution in Web3 to enable a privacy-preserving, incentive-compatible platform for genomic data collection and analysis at scale. With this solution, users can maintain control of their genomic data while gaining rewards when their data contributes to medical research to help improve personalized care.
On Tuesday, May 17, 2022, Genetica and Oasis Labs announced the partnership during an exclusive ceremony in San Francisco with the Vietnamese Prime Minister and other Ministers and government officials, who are excited to grow Vietnam as a global leader in Web3. Genetica and Oasis Labs are proud to have their dedicated support in this endeavor. Participants included Vietnamese technology companies alongside American Fortune 500 technology companies.
Professor Dawn Song, Oasis Labs Founder with Nguyen Chi Dung, Minister of Planning and Investment, Dave Strohm, Greylock Partners’ Venture Partner & Dr. Tuan Cao, Genetica’s Co-founder & CEO
The Minister of Ministry of Planning and Investment in Vietnam, Nguyen Chi Dung, said: “In recent years, investments in the technology sector in Vietnam have been continuously evolving. More and more companies are adopting technologies in innovative and remarkable ways to bring about affordable and quality solutions to issues such as healthcare, education, finance and other areas. The partnership between Genetica Asia and Oasis is an example of how breakthrough solutions can be possible thanks to US-Vietnam strong partnership in technology and investment fronts.”
Genetica will leverage Parcel on Oasis Network, a decentralized data management and confidential computing platform in web3, to tokenize genomic profiles with individuals remaining owners of their genomic data, with complete control and transparency over how their genetic data is used and analyzed. To date, Oasis technology has enabled the tokenization of 30K genomic profiles, and this partnership extension will bring it to 100K genomic profiles.
Professor Dawn Song, Oasis Labs Founder with Dr. Tuan Cao, Genetica’s Co-founder & CEO
Professor Dawn Song, Founder of Oasis Labs, said: “Data is extremely valuable, so it’s imperative to develop technologies that can utilize data in a privacy-preserving and responsible way. Oasis Labs is building a platform that can give people the ability to control their data and audit how it is used. Once data can be turned into a new type of asset, it can propel the global economy in ways not seen before. We are really excited to partner with Genetica, a leader in Genomic analytics, to enable data assets in the genomic domain.”
Genetica’s Co-Founder and CEO, Dr. Tuan Cao, said: “The partnership enables us to turn the idea of issuing GeneNFTs to our users a reality. GeneNFT, the tokenized ownership of one’s genetic data, enables each of us to truly take control and benefit from our data contribution. This further empowers the applications of genetic insights to make precision medicine and other options of personalized and preventive care a near future for underserved populations.”
This partnership will enable Genetica to establish itself as a Web3 genomics company with tokenized genomes owned by individuals, crypto-based incentive structures for the access and use of genomes, and decentralized governance. It will also, as a use case, showcase the unique and powerful capability of Oasis technology, where Oasis Network ensures individual data rights, with genomic data, the most sensitive of personal data, owned by individuals with consented access for use in precision medicine.
What is Genetica?
Genetica is the fastest-growing gene sequencing company in Asia. Their proprietary technology allows individuals to receive valuable insights into their genetic makeup — like their chances of contracting genetic diseases, which diet or health plan is best suited to their physiology, and how to best support their child’s development. These genetic testing reports will drive the future of healthcare as they can help prevent and catch diseases early, enabling individuals to enjoy a happier, more fulfilling life. Headquartered in San Francisco (USA), Genetica’s Vietnam laboratory is fully CLIA-compliant.
What is Oasis Labs?
Backed by top investors including a16z Crypto, Accel, Polychain, Pantera, and many others, and founded by renowned UC Berkeley Professor, Dawn Song, Oasis Labs builds products in decentralized data management confidential computing in Web3.
If you would like to keep abreast of developments in this area, follow us on social media. If you would like to get your genome sequenced by Genetica, visit their website here.