The Sei Foundation is considering the purchase of 23andMe, a genetic testing company currently in bankruptcy, with intentions to integrate its data infrastructure into the Sei blockchain.
In a statement issued on March 27, the Foundation indicated that this acquisition would represent a crucial advancement in safeguarding genetic data via on-chain solutions.
The Foundation articulated:
“We perceive user data sovereignty as a matter of national security. When a leading American biotech firm encounters bankruptcy, the personal genomic data of millions becomes susceptible to entities that might not uphold the same principles of transparency and open access.”
Given this context, the Sei Foundation expressed that acquiring 23andMe aligns with its overarching goal of user data protection.
The Foundation asserts that this acquisition would empower individuals to take full control of their personal data by transitioning the company’s genetic records to a blockchain framework. Users would then have the ability to dictate how their data is shared, monetized, or stored—fostering a future where privacy and ownership take precedence.
23andMe, well-known for providing DNA testing kits that offer insights into ancestry, traits, and genetic health risks, recently filed for Chapter 11 bankruptcy protection in the United States. This filing aims to facilitate potential buyers in acquiring the company’s assets and maximizing shareholder value.
DeSci
Furthermore, the Foundation emphasized that this initiative goes beyond merely a rescue effort.
Rather, the organization views the possible acquisition as a strategic advancement into Decentralized Science (DeSci), a burgeoning field that applies blockchain concepts to scientific research and data management.
If the acquisition takes place, it would be one of the first significant initiatives to incorporate genetic science into the blockchain.
Additionally, this acquisition could bolster the DeSci movement, which continues to gain traction and attract funding.
At the time of this report, CoinGecko data indicates that tokens associated with DeSci projects hold a total market value exceeding $657 million.
