SINGAPORE, July 16, 2019 /PRNewswire/ -- JEDTrade, a Singapore blockchain startup, has launched Jupiter Chain, a smart, consentable data exchange platform that enables the use of data analytics without compromising on privacy. Jupiter Chain demonstrates how blockchain technology can be put to good use in the healthcare services ecosystem, where data privacy and security is of heightened importance.
Blockchain technology in the local healthcare ecosystem
Jupiter Chain allows users to keep their personal data private by encrypting their data and requiring consent before other parties can access the necessary information to conduct big data analytics projects. The team envisions a future where users can get customised healthcare plans from their aggregated medical data, while the data remains secure and private to them. Assessors only gain permission to analyse the relevant data when individuals give consent, and are unable to access the raw data.
Healthcare business owners will also no longer have to be custodians to user data, avoiding hiccups in securing sensitive data. At its full potential in the healthcare ecosystem, this eliminates the risks of data sharing and increases the benefits to consumers and researchers.
"With Jupiter Chain, JEDTrade hopes to fundamentally change the way we handle data. From day-to-day interactions to large-scale processes, enterprise blockchain technology will change the way we live, with new industries hungry for solutions. We are ready, and look forward to delivering them," said Dr. Ernie Teo, CTO of JEDTrade.
Just last month, JEDTrade also announced Jupiter Chain's partnership with Genecare, a leading genetics testing company based in ASEAN that allows clients to better understand their health risks based on whole genome sequencing. Service providers can only access assessment results and will not see specific genetic data, ensuring the privacy of users while allowing them access to tailored healthcare and services.
"Data privacy is an ever-growing priority for governments and businesses across the world. Security is the DNA of our blockchain design, allowing it to be usefully applied across all industries, including those outside of health tech. We would also like to thank Enterprise Singapore for supporting our innovation efforts of developing Jupiter Chain," commented Teo.
Yeo Meow Ling, Director of New Industries at Enterprise Singapore, the government agency championing enterprise development, said, "Given blockchain's decentralised, immutable and transparent nature, it has potential to spark transformation in various industries and business models of our local enterprises. We are happy to support efforts by local enterprises like JEDTrade in exploring new technologies and leverage innovation as a key differentiator."
JED is a leading technology company that builds business solutions powered by blockchain technology. Our blockchain advisory is centred on providing objective guidance and insights that are tailored to each client's industry and needs, and focusing on three domains: data, supply chain and financial services.
Conceived by JED, the Jupiter Chain project is a Smart Consentable Data Exchange platform that aims to create a privacy preserving federated blockchain which enables the use of analytics. The Jupiter protocol enables data owners to control their data and consent its sharing to service providers, hence aligned with global data laws such as General Data Protection Regulation (GDPR), Personal Data Protection Act (PDPA) and related data governance.
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