WOO Ecosystem eyes biotech innovation through blockchain
The WOO Ecosystem has identified biotech as a promising growth area for blockchain and crypto finance, recognizing its potential to drive significant advancements in these fields, said Abby Huang WOO Innovation Hub Lead.
"Blockchain can improve biotech by providing a decentralized platform that enhances transparency and traceability in research data and funding. It also facilitates direct connections between patients, scientists, and investors, streamlining the process of securing financial support and accelerating innovation. Biotech is becoming an area of interest for the WOO Ecosystem," Huang said.
Blockchain has the potential to enhance transparency in supply chains and reduce counterfeiting in biotech. It could also secure data and streamline the R&D process in clinical research. Blockchain could also be leveraged to improve research funding and accelerate innovation. Additionally, the technology has the potential to impact intellectual property and integrate with AI for drug discovery.
As WOO recognizes biotech as a promising growth area, Huang announced that the WOO Innovation Hub has partnered with BIO Protocol, a decentralized platform focused on improving scientific research funding and liquidity using blockchain technology.
Huang said the collaboration under the WOO Innovation Hub aims to leverage blockchain technology to support the BIO Protocol in addressing challenges related to scientific research funding and liquidity through decentralized science (DeSci).
“We’re excited to bring BIO Protocol into the WOO Ecosystem. Their groundbreaking work in decentralized science offers a unique blockchain application that complements our strengths. This partnership allows us to explore new biotech frontiers while equipping BIO Protocol with the tools and expertise to accelerate their mission,” said Abby Huang, WOO Innovation Hub Lead.
"Our partnership with WOO Innovation Hub marks a significant advancement for BIO Protocol. With WOO's extensive ecosystem and technical proficiency, we are well-positioned to scale our innovative biotech solutions and drive transformative changes in the industry. We look forward to the collaborative efforts that will propel the next generation of biotech innovation,” said Paul Kohlhaas, BIO Protocol Founder.
BIO Protocol will benefit from WOO’s blockchain expertise and resources, accelerating the development and deployment of its biotech innovations. This collaboration effectively bridges blockchain technology with scientific research, advancing progress and innovation in both fields. Conversely, WOO Ecosystem gains valuable insights into the application of blockchain in science, enriching its understanding of decentralized science (DeSci), a concept pioneered by BIO Protocol.
BIO Protocol is dedicated to decentralized science (DeSci) by utilizing blockchain technology to address critical challenges in scientific research funding and liquidity. It connects patients, scientists, and investors through a decentralized platform, enhancing access to financial support and streamlining the advancement of biotech innovations.
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