Finance, Sei, Markets If the acquisition proceeds, the inspiration plans to combine 23andMe’s knowledge onto its blockchain and provides customers possession of their genetic knowledge.
The Sei Foundation, the nonprofit improvement 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 basis introduced the initiative in an X post on Thursday, calling the plan its “boldest DeSci bet yet” — referring to the decentralized science motion. Earlier this yr, it additionally launched a $65 million enterprise capital fund devoted to DeSci startups constructing on the Sei community.
The basis stated that genomic knowledge safety is a nationwide safety matter, notably as 23andMe grapples with monetary difficulties. The firm, recognized for its direct-to-consumer DNA testing providers, filed for Chapter 11 bankruptcy protection 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 via 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 inspiration stated.
Numerous state attorneys normal have warned 23andme customers to delete their data from the platform in latest 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 good points.
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