The post 23andMe Genetic Data on the Blockchain: What Could Go Wrong? appeared on BitcoinEthereumNews.com.

When 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 access.” Launched in 2021, Sei Network is an open-source Layer 1 blockchain for trading.  It has a built-in order-matching engine, fast finality via Twin Turbo consensus, and market-based parallelization to run decentralized finance applications, NFT collections, and exchanges. “Traditionally, health data is controlled by a small set of centralized actors. We want to put control back into the hands of those it belongs to,” the Head of Decentralized Science at the Sei Foundation, Eleanor Davies, told Decrypt.  “Our high-performance blockchain is designed to handle the massive scale required for 15 million users’ genetic datasets while ensuring privacy and security.” Data, a top priority While she did not go into details on the data architecture, Davies said Sei would create a secure platform that encrypts all sensitive data, and users can choose when to share their information. “It would likely involve a hybrid approach using both public and private keys,” Davies said. “This allows…

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Filed under: News - @ April 1, 2025 2:27 am