23andMe Genetic Data on the Blockchain: What Could Go Wrong? - Decrypt

Decrypt’s Art, Fashion, and Entertainment Hub.Discover SCENEWhen DNA testing company 23andMe announced last week that it would file for bankruptcy, a wave of speculation followed.What would happen to the troves of sensitive genetic data from over 15 million people worldwide that it had collected over the years?On Thursday, layer one blockchain developer Sei Network announced on X that its governing body, the Sei Foundation, was bidding to acquire 23andMe.The acquisition would give users control of their genetic data through encrypted, confidential transfers, allowing individuals to decide how their data is accessed and monetized, according to the Sei Foundation.The Sei Foundation called the move “the boldest DeSci bet yet.”“We believe user data sovereignty is a matter of national security,” Sei Network wrote. “When an American biotech pioneer faces bankruptcy, personal genomic data of millions becomes vulnerable to parties that may not share the same values of transparency and open acc...