As eyeforpharma 2019 is ending, I had the privilege to share my thoughts with the team at Hu-manity.co and with their CEO Richie Etwaru. I was truly impressed with the team work but mostly the way they positioned their offering in the very turmoiled world of data privacy.
My immediate thoughts were linked to the concept of Data Donation.
Data Donation is the idea that tomorrow or even today, people will be willing to give their data as much as they would do with organs. That valuable asset could save lives, but could also be monetised. If we all do it then societies have even more ways to anticipate with big data programs and predictive models to anticipate phenomenon that could change the way we live as a society.
The second idea that is connexe to the donation of data points is the concept of building digital twins. By aggregating data, in a structured manner, you will therefore build a vision in silico of your past, current and perhaps future behaviours.
You see me coming. This is where the notion of putting the data set of each individual in a virtual bank is critical. This is what I understood Hu-manity.co is aiming to be. A digital wallet that is trusted enough to protect your privacy, and act as a proxy to organisations you would have granted access to.
It is also well aligned with the notion of having a data privacy by design. At Ferring, I am not advocating for collecting data we don’t plan to use, because it is wrong and a data that is stored and old is as good as dead.
Having a partner that takes the accountability to not only collect the trust, but engage its credibility in managing the whole flux of data is something beyond what most healthcare companies can do.
It is tempting to do go and build a tech arm running a data-driven business but if you select that road, as a company, you must be prepared to evolve your business models along the line. Managing patients or consumers data donated and monetising for them that portfolio of assets is something not all companies are culturally ready to disrupt themselves toward.
I truly welcome startups that decide to start and test their models in healthcare. What the team here is doing is walking on eggs and requires a great leadership and vision. Kudos to the team for taking it that far and that is definitely on my list of startups to monitor in the next years that will bring an significant impact on the way people will deal with data, their digital twins and helping other by donating their records.