Opinion Whether the Sei Foundation buys 23andMe, or not, the genetic knowledge firm’s chapter reveals the perils of centralized knowledge assortment and the way blockchains can defend the general public, says Phil Mataras, founder and CEO of decentralized cloud community AR.IO.
In all probability, the move by the Sei Foundation – the group behind layer1 blockchain Sei – to purchase bankrupt genetic knowledge firm 23andMe is a long-shot at finest, and probably only a publicity stunt. But, it stays an extremely thrilling concept that has obtained lots of people considering.
Were such a deal to undergo, we might see a Web3 firm rescue a Web2 firm, which might have monumental ramifications in and of itself. Web2 tech giants are already being challenged within the space of AI by a lot smaller, nimble, and extra versatile firms. However, the acquisition of what was as soon as one in all Silicon Valley’s shiniest stars by a blockchain upstart could be a complete paradigm shift.
Beyond that, a deal could be a win for public understanding for knowledge safety and privateness. While we have now all been vaguely conscious of how Meta, Google, Apple, and many others., take and use our knowledge, we have now chosen to disregard that for the comfort it affords us.
Then there has maybe by no means been such a case as 23andMe, which holds DNA and different knowledge for 15 million individuals. It reveals the general public how susceptible their most private and intimate knowledge is within the arms of centralized firms and organizations.
It’s one factor when Facebook and Instagram are monitoring our purchasing and shopper habits and making our delicate messages and emails susceptible to leaks. With 23andMe, we’re speaking DNA knowledge; the very material of our human our bodies has simply been green-flagged on the market to the very best bidder.
If Sei is just not profitable, which is more than likely, this knowledge can and could be bought to well being or life insurance coverage firms. They could then be capable of use this knowledge to probably exclude individuals from important healthcare or insurance coverage insurance policies, because of the questionable approach during which the U.S. healthcare system is run and its discrimination insurance policies enforced.
Perhaps, lastly, it is a turning level at which the general public could severely come to grasp the significance of proudly owning their very own knowledge. Maybe extra individuals will understand that to maintain their knowledge actually secure, they’ve full management of it themselves by way of using decentralized blockchain know-how.
Of course, not each blockchain is created equal. However, Sei definitely claims to be extremely safe, and tasks like Arweave – which is a everlasting storage chain constructed on a “pay one store forever” mannequin – have purposes that may mean you can add and retailer your knowledge privately, securely and completely.
These are two amongst a rising listing of choices in our trade, however the level is that this: there’s merely no centralized resolution past a chunk of paper saved in a Swiss safety deposit field with keys buried deep within the floor that may examine. And even then, somebody can dig these keys up.
This is a watershed second for individuals to grasp the significance of information self-sovereignty. And it comes at a time when belief in centralized organizations, firms, and even governments is breaking down. As such, the 23andMe sale may mark a real turning level in historical past, and one that would reshape how Web3 is seen, understood and utilized.
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