Blockchain projects fight for 23andMe user data amid bankruptcy

Key Points

  • 23andMe has filed for Chapter 11 bankruptcy, prompting concerns over the privacy and sale of its 15 million users' genetic data.
  • Blockchain advocates are proposing to store DNA data on decentralized networks to give users more control over their information.
  • Privacy advocates and government officials urge users to delete their data from 23andMe due to potential misuse by buyers in a bankruptcy sale.
  • Several blockchain projects are interested in acquiring 23andMe's data, promising enhanced privacy and user control through blockchain technology.
  • Challenges include high costs of data storage, potential privacy breaches, and regulatory complexities when dealing with genomic data on the blockchain.

Summary

The DNA testing company 23andMe has declared bankruptcy, leading to a scramble among its 15 million users to protect their genetic data from potential misuse. Amidst this, blockchain projects are vying to acquire and secure this sensitive information on decentralized networks, promising users greater control and privacy. Privacy advocates and government officials are pushing for users to delete their data from 23andMe, especially after a judge approved the sale of user data. Blockchain solutions like Sei Foundation, AR.IO, Genomes.io, and GenoBank are presenting alternatives where users can manage their data through encrypted vaults or tokenized NFTs, ensuring privacy and potentially monetizing their data. However, these blockchain solutions come with their own set of challenges, including the high cost of data storage, the risk of losing access to data if private keys are misplaced, and navigating complex regulatory environments. Despite these hurdles, the overarching advice remains for users to remove their data from 23andMe to safeguard their privacy.

cointelegraph
April 2, 2025
Crypto
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