Introduction: Two healthcare companies in the U.S have implemented using block chain technology to better understand and record gene sequences and appealed to create a new academic research field – life data economics. The companies are Nebula Genomics and Longenisis, both are firms working in Artificial Intelligence and Block chain technology for healthcare.Based on healthcare industry research and market reports these companies implement the usage of block chain technology for creation of a platform for management and trading of medical information on block chain data allowing their users to profit from their genomic and other types of clinical data. Nebula Genomics and Longenesis say that their work will establish two new fields. The first, “microdataeconomics,” is “the study of the value of life data that is used for drug discovery such as proteomics or data regarding the structure and activity of specific molecules, both in vitro and in vivo.” The second, “macrodataeconomics,” is “the study of the value of life data that is used to determine human health such as electronic health records and genomics.
Genomics: NHGRI defines genomic medicine as "an emerging medical discipline that involves using genomic information about an individual as part of their clinical care (e.g., for diagnostic or therapeutic decision-making) and the health outcomes and policy implications of that clinical use." Already, genomic medicine is making an impact in the fields of oncology, pharmacology, rare and undiagnosed diseases, and infectious disease. Genomics is a field of modern medicine that applies a patient’s genetic makeup to understand their body composition, further understand their medical structure and to personalize their treatment. The science works using the structure, mapping, and analysis of an organism’s genome, which is the complete makeup of their DNA. The field has so far been limited to genetics but is having increasing application in the field of health care and medicine by increasing the scope for personalized medical treatment for patients. Genomics is already driving a remarkable paradigm shift in health. In the last 15 years, the cost of reading an individual's DNA sequence has plummeted from hundreds of millions of dollars to around a few hundred to a few thousand dollars. Applications of genomics in cancer, rare disease and reproductive services are booming, with other clinical areas set to follow suit. In addition, joint ventures, mergers and R&D agreements relating to genomic technologies have grown exponentially in the past decade.
LDE: Life Data Economics is an experimental research field that applies block chain and heavy sets of patient lifestyle data to gauge the medical condition of the patient and further reveal trends that have led to specific diseases and conditions. The science has been petitioned to be made official by Nebula Genomics and if successful would allow for block chain health care providers to use artificial intelligence to not only record all aspects of a patient’s health, but also to analyze health and discover causes that were previously unknown to medical professionals. The application of Life Data Economics is that it also helps understand the extent of impact that a person’s lifestyle has on their physical health and well being.
Conclusion: The application of Life Data Economics is genuinely new, with the technology not even officially being in the introductory phase. But the potential the technology has presented is a game changer for the field of healthcare, medicine and IoT based healthcare. Not only is this a technology capable of tracking and understanding a patient and their lifestyle, but with enough time and data, and integration of artificial intelligence, the usage of genomic based LDE could lead to discoveries in medicine which were not possible before to know based on factors for disease and the type of medicine that would be more effective occurring at a rapid rate. The implementation of technology has had a major impact on the growth of almost every sector in the world. The future of industry is integration with the internet, the remaining aspect is the rate of adoption as the technology is still to be experimented and proven. As earlier, the time between researching an innovation and implementing it as a clinical practice was about 17 years, the rapid growth and increased investment into research and development, especially in the sector of medicine has shortened that time significantly allowing for companies to figure out better, safer methods to help with the health of patients as well as find new ways to improve longevity and physical well being.
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