Los Angeles, September 17, 2018 - The Lydion Research Alliance, a consortium of scientists, engineers, economists, technologists, creative artists, and futurists, has formally created Blocklayer LLC as an entity to advance the scientific field of Data Economics and the commercialization of Data Economic technologies.
As a scientific field, Data Economics explores the value of data and how data (particularly in the format of data assets and digital assets) can be used for transactions, exchange, valuation, and other economic functions. Discoveries in the field of Data Economics have been accelerating rapidly in the past decade, in large part due to advances in distributed database technologies and the rise of blockchain-based cryptocurrencies that have created real-world economic examples of value and transactions based solely on the exchange of digital data.
Via the Blocklayer LLC entity, the members of the Lydion Research Alliance will continue building the Lydion DEOS (Data Economic Operating System), a software platform designed to enable distributed computing applications via the exchange of Lydion data assets across Data Economic Networks (or DENETs).
“As the Lydion DEOS has emerged from our group’s research in Data Economic science, we’ve been very encouraged by the involvement of numerous cross-sector experts, as well as the interest from both the life sciences sector and the finance sector in how Lydion DEOS can enable new types of data-backed transactions and financial instruments. Formalizing our research alliance as Blocklayer LLC is the next step in bringing Lydion DEOS to a larger market,” said Arka Ray, one of the Lydion Research Alliance’s founding members and a Principal of Blocklayer LLC.
Version 0.1 of the Lydion DEOS is being used to power value-based agreements for multiple companies in the pharmaceutical, biotech, and medical devices sector, and further applications to power Lydion Data Asset-backed investment platforms and instruments are in pilot stage.
“As a veteran of the biotech and life sciences industry, a health economist, and a patient advocate, I am most excited about the potential for value-based agreements powered by the Lydion DEOS to more closely link health outcomes to drug reimbursement and health care expenditures. Many are familiar with the complex and often conflicting incentives within health care transactions, and I strongly believe that Data Economics has the potential to significantly transform and improve economic flows within the health care sector,” said Jennifer Hinkel, MSc, a Senior Partner at life sciences consultancy MGA and member of the Lydion Research Alliance. “Having worked with a number of the Fortune 100 pharma companies over the past ten years and experiencing the challenges of drug pricing and contracting firsthand, as well as a policy environment that is increasingly pressuring changes in how drugs are priced and reimbursed, value-based arrangements represent a ‘triple win’ scenario for biopharma companies, health insurers, and most importantly, for patients, who will gain faster access to better drugs.”
Blocklayer LLC was formed in 2018 by the Lydion Research Alliance to develop and commercialize software platforms that enable distributed computing applications via the exchange of Lydion data assets across Data Economic Networks (or DENETs). Blocklayer’s flagship product, the Lydion Data Economic Operating System (Lydion DEOS) v0.1 is utilized globally by customers in the life sciences, banking, and cryptocurrency sectors.