Data Lake Utilizes Blockchain for Medical Data Donation Platform
In its most big launch, the recently formed cryptocurrency portal Data Lake is developing a worldwide medical data sharing platform based on cutting-edge technology, such as blockchain. Their solutions include a mechanism that allows individuals to privately agree to or withdraw permission for the use of their health data.
Data Lake supplies data sources for scientific and medical study. Furthermore, it enables donors to view all activities associated with the information they have provided. The worldwide medical data donation platform that Data Lake is developing will be a tremendous asset to domains including Machine Learning (ML), especially in medical imaging data research for disease diagnosis, including evaluating cancer screenings, and has the prospects to enhance the effectiveness and reliability of clinical studies.
According to Ligia Kornowska, MD, Co-Founder and Board Chair of Data Lake, “Good medicine is scientific proof-based medicine, founded without prejudice on information and evidence. Nearly endless opportunity exists for AI to discover novel cures and therapies for illnesses, but it initially requires impartial and comprehensive information. Data Lake will be the first organization in the world to establish a moral, consent-oriented health data donation platform, working collaboratively with patient activist groups, healthcare organizations, and the European Union.”
Moreover, $LAKE’s token utility is as follows:
GOVERNANCE: Ecosystem members who own the $LAKE token will be able to vote on various system choices, such as the worth of the ecosystem fee, funding selected research on a non-profit premise, distributing research and philanthropic donations in $LAKE, and much more. The categorization of the $LAKE coin, such as its usefulness, may be subject to change based on the legal environment.
BENEFITS PANEL: $LAKE retention for a specified amount of time in the Data Donor’s sheet will provide token holders exposure to the panel’s perks, including discounts on heath & wellness goods & services, instructional resources, and much more.
PARTICIPATION STAKING: Organizations such as Data Buyers, Consent Gatherers, Integrators, and Trust Entities will need $LAKE storage in order to participate in the emerging medical data market and generate revenue.
LIQUIDITY POOL (LP): STAKING $LAKE coins may be utilized for staking in the Liquidity Pool. 8% of the entire $LAKE supply is designated for incentive payments to LP holders.
The Data Lake group comprises of medical physicians and professionals from the MedTech, Artificial Intelligence (AI), and Blockchain industries. The company was created in Poland by a group of physicians who recognized the demand for impartial medical information to assist researchers to identify treatments for illnesses and to fuel moral AI algorithms for studies.
The general public who choose to give their health information to research will do so through “trust entities” – non-profit organizations that play a critical role in the network as trustworthy and lawful custodians. This month, Fundacja Podaruj Dane (“Donate Your Data Foundation” in English) will start gathering the first permit for medical data sharing. Podaruj Dane was the main writer of the Data Donation Manifesto and has already established agreements with a number of top patient, doctor, and hospital organizations in Europe, such as EIT Health, Alivia, and the Polish Hospital Federation.
Data Lake, in cooperation with Podaruj Dane, is the initial startup to aim to respond to the EU’s latest call for altruistic information enterprises to kickstart medical innovation via the moral use of information. This innovative medical donation scheme is now feasible as a result of the General Data Protection Regulation (GDPR) and Data Governance Act (DGA) framework choices.