It is with great pride that we hereby announce that a Medical Entity affiliated under one of the most prominent medical universities in Europe has formally signed an agreement to become our first Data Provider. This is a huge and very crucial step towards building a global network of Data Providers!

Data Lake is a complete ecosystem rather than a singular flow of data, and the fact that new medical entities are enthusiastically embracing our values and joining our mission is yet another strong sign that the time has come to unlock medical data for scientific research and progress. This milestone is another of many sources of motivation for the whole team to keep working towards building a global medical data donation scheme.

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Who stores your medical data? Introducing Data Providers

Although they are the legitimate owners of their medical data, patients are not the ones who actually store it electronically; hospitals and laboratories do.

These hospitals and laboratories – generally referred to under the name of “Data Providers“ – are indeed obliged by law to store patients’ medical data for years. However, this duty currently represents a burden for them, as they incur several different kinds of costs and risks, and they don’t currently have a transparent and scalable solution to get consent from the owners of the data (patients) in order to unlock the potential value.

Data Lake fixes this.

Our system empowers individuals with the possibility of donating their medical data simply by signing a transaction on the blockchain. This allows them to contribute to progress in medical research while being rewarded for doing so. Once we collect a patient’s consent, we request their medical data from their Data Provider in a safe, transparent, and automated manner. Collecting data directly from the responsible medical entities means we don’t have to rely on any other intermediary, cuts costs, and ensures that the data is correct and not manipulated in any way.

The Data Providers will also be reimbursed for the costs that they incur when plugging into the Data Lake System, keeping the ecosystem sustainable and rewarding every stakeholder involved for their contribution.

Data Providers are crucial for enabling the new market of medical data and – for the reasons described above – they are among the Primary Market Players of Data Lake’s ecosystem.

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If you are a representative of a hospital, clinic, or health-related services provider, we would be glad to start a conversation with you! Kindly visit our website at: https://data-lake.co/data-providers-hospitals-clinics/ and fill out the form dedicated to you!

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