Prenetics unveils DNA-based identity with blockchain tie-up

Prenetics has launched a partnership with Humanity Protocol to introduce a blockchain-based identity verification service via its CircleDNA platform.

The collaboration between the genomics and consumer healthcare firm and Humanity Protocol aims to enable decentralised identity verification using DNA-based Proof of Personhood. Prenetics will serve as an Identity Validator within the Humanity Protocol, facilitating secure identity verification that guards against sybil attacks, using CircleDNA's genetic testing capabilities. The system applies advanced zero-knowledge proof technologies to maintain privacy, allowing for secure identity confirmations across industries such as finance and healthcare.

"Our partnership with Humanity Protocol exemplifies our commitment to merging the precision of genomics with the transformative potential of blockchain technology," remarked Danny Yeung, Chief Executive Officer and Co-Founder of Prenetics. "Through our CircleDNA service, we will provide secure, privacy-focused identity solutions that not only benefit decentralised applications across finance, healthcare, and governance but also pave the way for further integration of digital assets into our strategic framework."

Yat Siu, Board Director of the Humanity Foundation and Executive Chairman of Animoca Brands, supported the venture, stating: "Prenetics' entry into the decentralised identity arena as an Identity Validator marks a significant milestone. Their deep expertise in genomics, now combined with an active role in the Web3 ecosystem, is exactly the kind of forward-thinking collaboration that will drive decentralised identity and secure digital interactions into the future."

In addition to its blockchain initiative, Prenetics has announced the creation of a Crypto Strategic Reserve. The firm has committed an initial investment of $1.5 million across several digital assets, including $1 million in $H tokens, $250,000 in Bitcoin, and $250,000 in Solana. This strategic reserve aligns with Prenetics' belief in the emerging role of blockchain in cross-industry innovation.

"Our Crypto Strategic Reserve demonstrates Prenetics' confidence in the transformative potential of blockchain and digital assets," said Danny Yeung. "This initiative not only diversifies our portfolio but also reinforces our commitment to leveraging cutting-edge technologies to drive cross-industry innovation in healthcare and beyond."

Prenetics is also advancing its innovation in the field of decentralised science (DeSci), particularly through Insighta, its AI-driven early cancer detection joint venture. Insighta benefits from a $30 million investment from Tencent, which supports its mission to make early cancer detection widely accessible.

The consistent development in blockchain and decentralised science underlines Prenetics' strategic direction toward merging genomics with digital technologies. "Blockchain is creating unprecedented opportunities for innovation across industries," Yeung commented. "By merging the rigor of genomics with digital innovation, we are forging a path toward a future where secure identity verification and groundbreaking healthcare solutions go hand in hand."

As of December 2024, Prenetics holds $84.87 million in cash and short-term assets, ensuring a solid financial foundation to support these investments and partnerships aimed at driving technological advancement.