Homomorphic encryption is a form of encryption that allows computation on ciphertexts, generating an encrypted result which, when decrypted, matches the result of the operations as if they had been performed on the plaintext.
The ability of blockchain to facilitate transparency, control and sharing of information, while keeping data secure, is being applied to biotechnology with companies like Nebula Genomics aiming for homomorphic encryption of people's genomic data. Blockchain technology in data storage and online platforms can improve sharing and access to information and also provide quicker ways for tracking and managing various steps in drug development.