Later this month, Timicoin/TimiHealth will be one of the first to pay you for your DNA while keeping you “in control” of it. For those who haven’t heard of Timicoin they provide a blockchain solution that will secure healthcare information within a health information exchange (HIE). They are the world’s first cryptocurrency mobile platform to use blockchain technology for storing and accessing medical records to date.
“We intend to be the first to actually pay you for your DNA data! Your data will be secure in our blockchain technology, and you’ll be able to profit from it in our tokenized TimiDNA ecosystem, if you so choose. You will own it, control it, monetize it,” said Will Lowe, founder of Timicoin/TimiHealth.
They will announce the program at the BlockShow on August 20th through the 21st in Las Vegas as part of the “TimiDNA Two Million Timicoin Giveaway”.
The first 100,000 individuals who upload their DNA data to the TimiDNA private and secure platform will receive 20 Timicoins and unlike other DNA storage facilities, individuals participating in the Timicoin Giveaway at the BlockShow will stay in total control of their DNA.
One has to wonder how secure is this? We are talking about my DNA here, not just day to day data! Per Timicoin/TimiHealth, once the contract is created and payment is confirmed from the consumer, the extracted records are shared on a private Blockchain channel created between the provider nodes and the consumer node. When the individual’s data is in the TimiPatient app, he/she will have complete control over their DNA data and will be able to monetize it.
“We’re on a mission to tokenize consumer’s DNA information and allow them to first secure the data in a securely distributed TimiDNA blockchain, while giving them the ability to sell or not sell that data to researchers,” said TimiHealth’s clinical advisor, Dr. Jim Bonnette.
Joyce Lignell, Chairwoman of TimiHealth’s Advisory Board, has further stated “TimiHealth’s mission is keep individuals in control of their personal health data. Today technology can truly support the governmental and consumer outcry for individuals to own their own data. The California Consumer Privacy Act of 2018 is an example of where the future of the ownership of data is going, and individual control and transparency is exactly what TimiHealth is aligned with.”
They are trying to make it easy also for individuals who already have DNA results through another source with their “easy-to-use” tools within TimiPatient to download and securely store those results. It’s clear on the emphases on security but will consumers feel as though this is a transparent program and safe? It’s hard to say with always the threat of hackers but it seems that they are taking extra precautions to make sure their customers are protected and feel like their personal DNA data is safe.
For more information or to learn about Timicoin/TimiHealth please visit: https://www.timicoin.io/. If you want to attend or want more information about the Las Vegas “BlockShow” please visit: https://blockshow.com/.