11 October 2018

Blockchain in the life sciences and healthcare sector

On 2-3 October 2018, Jack Tsang, Senior Associate in the Corporate & Securities team of King & Wood Mallesons London office was a key-note speaker at the BioLife Distributed Consensus Launch Event at Fasque Castle, Scotland.

The two-day conference that focused on digitisation and blockchain in the life sciences healthcare sector was attended by industry leaders and experts in biosciences in China and Europe. Jack’s presentation focused on ‘Compliance and supervision of blockchains in the life sciences sector,’ in which he discussed the importance of a balanced approach to regulation and supervision including the need for proactive industry self-regulation accompanied by early stage discussions with regulators to facilitate a balanced light-handed approach to regulation and supervision, among other issues. 

Speakers at the event, among others, included Don Tapscott, author of “The Blockchain Revolution”, also known as the “father of the digital economy”; Dr Chun Meng, Vice Minister of the Macro Department of the Development Research Center of the State Council of the Peoples Republic of China (PRC); Genevieve Leveille, initiator of ATIS and Biolife Venture Partner; Hannah Potter, Founder & Managing Director of Clinic Creators Ltd; Dr Moses Ndiritu, Director of Health Informatics at Afya Research Informatics; Chris Bates from Bitland Global; Leon Hill, strategic legal advisor; and William Liu, initiator of Biolife Chain and President of One Belt and Road Investment and Development Group.

During the two-day event, entrepreneur, blockchain and social media influencer Cameron Sar live-streamed interviews with several of the event speakers.

The event’s Closing Ceremony was commemorated with all speakers taking part in a signing ceremony followed by a firework’s display. 

The London and Shanghai offices of King & Wood Mallesons are currently acting for BioLife on their various projects in the UK. BioLife is building a global bioscience resources platform serving patients, investors, and biomedical resource owners. It aims to provide a safe, reliable, efficient and economical foundation for a thriving biosciences community. Products, services, personal data and assets relevant to life sciences health care will be digitized. BioLife Token (BIOT) holders may invest in R&D and secure their assets through smart contracts.

Fasque Castle was built in 1750 and was formerly residence to William Gladstone, one of the most prominent Prime Ministers in the history of the United Kingdom. The Royal Medical Center, formed by the team of Queen Elizabeth's private doctors and medical advisors, will be completed in the Castle. This, along with listing of other renowned resource providers will be the starting point for the BioLife project to build the world's most advanced medical and health services centre and platform.

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