The pioneering work of Craig Venter , the genetic scientist who founded the Human Genome Project, brought vast awareness to the field of genetic research and its immense potentialities.

As a result, a person's genomic data now holds high market value, particularly as it relates to efforts to ameliorate cancer.

In an effort to advance on groundbreaking solutions in distributed technology, Shivom , a startup engaged in next era genomic advancements through blockchain technology, recently announced a major partnership with leading molecular diagnostics company Genetic Technologies (GTG). It is hoped that this new development will accelerate the prediction of cancer for millions of individuals worldwide.

GTG, which has built a clinically validated risk assessment test for nonhereditary breast cancer, is at the forefront of preventive medicine. While the collection of data to develop that test took over seven years to complete, the company's partnership with Shivom is expected to massively reduce such timelines.

Dr. Axel Schumacher, the co-founder and CEO of Shivom, said that this

partnership with GTG is significant because bringing together millions of individual genomic profiles will allow the critical mass needed to accelerate transformative disease prevention and personalized healthcare.

"This sort of big data analysis and healthcare servicing is only possible through blockchain [technology]," added Gourish Singla, co-founder and COO of Shivom, per a release on the partnership . "The low-cost management of data that it enables allows us to revolutionize how genomics is presented to the world."

Shivom's blockchain-centric healthcare platform, which endeavors to become the largest unique genomic and healthcare data hub on the planet, puts ownership of genome data into the hands of individuals. Via its innovative "Global Genome ID," Shivom aims to revolutionize preventative healthcare, including impacting how cures to 7,000 rare genetic diseases are discovered.

This partnership with GTG will allow Shivom to tap into the rich history of research investment and transformative personalized healthcare services. By integrating Shivom's huge database of genomics data, GTG will be able to identify cancer risks and other diseases much more quickly than was previously possible.

"We believe blockchain technology will open up markets to make it much more efficient to catch many more users and many more practitioners," said Dr. Paul Kasian, chairman and interim CEO of GTG, according to a press release . "Not only that, by using the Shivom platform to its full potential, we will also be able to access the benefits of research in collaboration with other personalized healthcare organisations."

GTG's cost-effective method of assessing the risk of nonhereditary breast cancer in women (a cancer that 1 in every 11 women develops in their lifetime) underscores the importance of the collaboration with Shivom - namely, that the volume of unique and ethnically diverse global genomic data available via Shivom's platform will greatly accelerate this process for new testing.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.