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.
Wade Menpes-Smith comments: “Aladdin has taken a massive step in the field of Blockchain applications for Healthcare by signing this Agreement. We are more than happy to have Consentia at our side as valuable partner in this important challenge. We want to protect people´s identities while giving our innovative contribution to medical research. This is a big chance for expanding our business opportunities by commercializing the platform in the future with existing and new partners at a global level.”
About Aladdin Healthcare Technologies SE
Aladdin Healthcare Technologies SE (and its wholly owned subsidiary Aladdin Healthcare Technologies Ltd.) is a leading developer of AI healthcare diagnostics and drug discovery applications that can accelerate both early stage disease diagnosis and the end-to-end drug discovery process. Aladdin targets aged related disease including a significant focus on Alzheimer’s disease. Aladdin accomplishes this by collaborating with numerous partners within the global healthcare ecosystem to confidentially and securely gather targeted data including, genome, tabular, MRI, PET, cognition and other lifestyle data. These datasets are then analysed by our award-winning AI team and used to develop proprietary AI tools that can assist healthcare professionals to more accurately and efficiently diagnose aged related diseases. This new diagnostic process will save significant time and costs for healthcare professionals. Additionally, our AI drug discovery platform will be used to by pharmaceutical Companies to speed up drug development, clinical trials and predict outcomes more accurately.
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Aladdin Healthcare Technologies Ltd.
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