peacocka Layer 1 blockchain, has expanded its ecosystem to include Synapxas companies want to decentralize the collection of physiological data. Synapx is building a software-based decentralized physical infrastructure network (DePIN) uses health-oriented wearables such as fitness trackers, activity rings and smartwatches.
The company’s dApp will act as a decentralized marketplace for anonymized data collected by such devices and is intended to provide a valuable repository for healthcare researchers, healthtech companies, policymakers and others in the field.
peaq says that with the increasing use of wearables and the rise of AI, wearable devices could prove crucial in “revolutionizing” healthcare with new life-saving technologies. However, several issues stand in the way of wider use of wearable data in modern healthcare, from segmented and siloed data stores to lack of access and interpretability.
Synapx is developing DePIN software that will share data from millions of connected wearable health devices with researchers, healthcare providers, healthtech platforms and other key platforms. The company is building a marketplace for physiological data that will be protected by cryptography and orchestrated in an open and transparent way, the company said. The people who choose to provide data to this marketplace will be rewarded for doing so and will be able to set access rules for their data and choose who can access it.
“Easy access to physiological data will revolutionize the way research is conducted for different institutions,” says Tim Lee, co-founder of Synapx. “With Web3, we are giving people control over this data and enabling them to share it with researchers, charities and healthcare professionals. With its modular DePIN capabilities, high scalability and a robust data processing toolset, peaq is the perfect home for Synapx.”
“In the age of artificial intelligence, physiological data from wearable devices is a real treasure trove for the healthcare industry,” says Leonard Dorlöchter, co-founder of peaq. “Synapx uses the DePIN model to open up this treasure trove for the medtech sector while giving people the ability to manage their health data themselves – a real win-win situation for everyone.”
