The Sei Foundation, the nonprofit growth group behind the layer-1 blockchain Sei (SEI), is exploring the acquisition of bankrupt private genomics firm 23andMe and placing the genetic knowledge of 15 million customers on blockchain rails.
The muse introduced the initiative in an X publish on Thursday, calling the plan its “boldest DeSci bet yet” — referring to the decentralized science motion. Earlier this 12 months, it additionally launched a $65 million enterprise capital fund devoted to DeSci startups constructing on the Sei community.
The muse stated that genomic knowledge safety is a nationwide safety matter, significantly as 23andMe grapples with monetary difficulties. The corporate, recognized for its direct-to-consumer DNA testing companies, filed for Chapter 11 chapter safety earlier this week.
If the acquisition proceeds, the Sei Fundation plans to combine 23andMe’s knowledge onto its blockchain and provides customers possession of their genetic knowledge, making certain privateness by encrypted transfers and permitting people to determine how their knowledge is monetized.
“This isn’t just about saving a company, it’s about building a future where your most personal data remains yours to control,” the muse stated.
Quite a few state attorneys common have warned 23andme clients to delete their knowledge from the platform in current days for the reason that firm’s chapter submitting.
SEI, the native token of the community, climbed as a lot as 3% following the information earlier than giving again a number of the beneficial properties.
