Sei Foundation Eyes 23andMe Buyout to Secure Genetic Data On Blockchain

The Sei Foundation, the nonprofit behind the Sei blockchain, said Thursday that it is considering acquiring bankrupt genomics firm 23andMe. The goal, it said, is safeguarding genetic privacy for 15m Americans by securing their data on blockchain.

23andMe, launched in 2006, became popular for affordable at-home genetic testing kits. These kits offer users insights into their ancestry, genetic traits and potential health risks. Subsequently, the company expanded into a leading direct-to-consumer genetic testing provider. As a result, it accumulated vast genomic datasets from millions worldwide.

Announced via an X post Thursday, the initiative marks Sei Foundation’s strongest push yet into decentralized science (DeSci), a movement promoting transparency and user control in scientific data management.

Notably, Sei dedicated a $65m venture fund specifically for DeSci startups earlier this year.

The Sei Foundation is in the process of placing its boldest DeSci bet yet.@Sei_FND is officially exploring the acquisition of @23andMe to defend the genetic privacy of 15 million Americans and ensure their data is protected for generations to come.

We believe user data… pic.twitter.com/c06R2QPyff

“We believe user data sovereignty is a matter of national security,” the foundation said.

With 23andMe facing bankruptcy, sensitive genomic data risks falling into the hands of entities less committed to transparency. By integrating genetic data onto blockchain, Sei Foundation intends to offer a novel level of security and user autonomy.

Specifically, blockchain integration would encrypt genetic data, meaning data would be securely stored. This also means access would require user consent.

Blockchain allows individuals to control their data directly. Users decide who sees their information and how it’s shared. They could even profit from sharing their data. This model sharply contrasts the current practice where companies mainly profit from user data.

Sei Foundation’s strategy includes deploying 23andMe’s data onto Sei blockchain, described by the foundation as most performant blockchain built for web-scale applications.” Users could then securely transfer genetic data, maintain privacy and share in monetization efforts—a substantial shift toward genuine ownership and transparency.

Sei Foundation envisions the buyout as setting a precedent for how genetic data could be responsibly managed. If successful, it may transform the relationship between technology companies, consumers and personal health data in the long-term.

Further details and progress updates from Sei Foundation are expected soon.

The post Sei Foundation Eyes 23andMe Buyout to Secure Genetic Data On Blockchain appeared first on Cryptonews.