Humanity.co Launches Health Data App Based on IBM Blockchain | #VentureCanvas
Delma Wilson | CoinPedia
The apps build by Humanity.co aims to provide potential healthcare. However attaining the focus, the company is now using the blockchain platform of IBM. There’s no doubt that multiple industries are also looking to grab the opportunity on deck.
Today, Humanity.co launches the My31 Mobile App which incorporates the design of IBM Blockchain. This app will not store the health data, however, enables user the control to use their health data. The application name is a nod for the Universal Declaration of Human Rights including thirty rights.
Their motto is to develop a data marketplace, which the startup is estimating worth around $150-200 billion annually. The post says that “using attributes like decentralization and immutability, blockchain enables organizations/individuals interaction in the more transparent way.”
The CEO at Humanity.co, Richie Etwaru says,
People will enjoy greater levels of security, privacy, and control while corporations will be able to lawfully benefit from access to higher quality data that has the explicit consent and authorization of its rightful owner.
To control the health data, the important aspect for individuals is to hold a digital identity. The Sovrin Network is one amongst the leading identity networks. Their technology is also currently a part of hyper ledger Indy. Humanity.co is collaborating with IBM for integrating their identity network together with the Humanity.co ecosystem.
Currently, the new health data app is available in the US for Android version. The enterprise version for businesses that are looking to partner with Humanity.co will be accessible by the first quarter of 2019.
About the Company- IBM and Humanity.co
IBM is a well known leading enterprise Blockchain Provider Company since 2016. The Company handles thousands of clients across distinct sectors including
- Financial services
- Supply chain
- Many more
Basically, implementing the blockchain applications, and working with several networks to run live. IBM promises their clients with a quick build, govern, safe and to activate their own business networks.
On the other side Humanity.co is the initial and worlds only business building human rights and corollary sovereign laws within a decentralized way on Blockchains. Their motto is a space where the coming generation relating human rights and policies evolve from a balance of centralization power and decentralization technology.
Humanity.co and IBM Launches Health Data App on Blockchain
The #My31 iPhone and Android apps for Humanity.co offers a Global Consent Ledger which first focuses on healthcare data, however, they are planning to expand their ideas. Their personal data marketplace is worth around $150 – $200 billion. However, there is not an effective way for users to maintain their information and provide consent.
According to the official site, their data ownership model will allow the user to reimburse the data usage. Users can also make a choice to donate information relating to their medical research and considering other usages.
The general thinking behind Humanity.co states that user data must be property and holds a title of ownership deed. By dividing the data between property individuals might own more rights.
The core pitch:
The adoption goals for the #My31 Movement is built to reward people from downloading the app to referring a friend. The goals and rewards explanation is given in detail within the app.
Once the amount of users in the movement hits certain levels, new app functionalities will get live. Eventually, allowing the people to receive fair market compensation identifying who to give permission to a third party to use their data for an approved purpose, for instance, cancer research.
You can also check out this video
The Reasons for Sharing Health Data
There are numerous reasons to share health data. Basically, building a marketplace to sell data is only one purpose among them. In the previous week, in Taiwan, a health data-sharing network also went live using the “personal health record Operating System”. They found out that sharing data with insurers can boost up the process.
Together with sharing Electronic Health Records in the sector of research and clinical trials, there is also the scope to share the genomic information. The startup Nebula Genomics is within the area that recently shut down the funding round.
Risks and Standards
There is the major problem that comes after sharing the health data. There are risks that the app can store the data and the user can lose the control over data. The IEEE is also working on their technical standards on how to store this kind of health data.
There are several more risks as well associated with the sharing of health data. Perhaps there is a research project going on that might possibly secure the future illness.