Sei Foundation looks to acquire bankrupt 23andMe in major DeSci move
Sei Foundation appears to develop bankrupt 23andMe in main DeSci switch 
Sei Foundation appears to develop bankrupt 23andMe in main DeSci switch
Sei Foundation foresees reworking 23andMe's genetic info infrastructure into a decentralized mannequin, prioritizing privacy and administration for users.
Duvet artwork/illustration by CryptoSlate. Image comprises mixed thunder that will perhaps also comprise AI-generated thunder.
The Sei Foundation is exploring the acquisition of 23andMe, a bankrupt genetic testing firm, with plans to carry its info infrastructure onto the Sei blockchain.
In an announcement released on March 27, the Foundation printed that the acquisition would worth a prime step toward keeping genetic info thru on-chain solutions.
Per the Foundation:
“We imagine person info sovereignty is a matter of national safety. When an American biotech pioneer faces economic kill, deepest genomic info of hundreds of hundreds turns into susceptible to parties that will perhaps not piece the same values of transparency and originate salvage entry to.”
Angry about this, the Sei Foundation printed that shopping 23andMe would align with its broader mission to guard person info.
Sei believes its acquisition would allow americans to develop complete administration over their deepest info by transitioning the firm’s genetic records to a blockchain-basically based mostly gadget. Customers might perhaps also judge how their info is shared, monetized, or storedâenabling a future the do privacy and ownership near first.
23andMe, broadly known for offering DNA testing kits that supply insights into ancestry, traits, and genetic health dangers, not too long within the past filed for Chapter 11 economic kill within the United States. The filing aims to originate the door for attainable traders to develop the firm’s sources and maximize shareholder worth.
DeSci
Within the intervening time, the Foundation also harassed that here's extra than a rescue operation.
As a substitute, the group sees the aptitude acquisition as a strategic push into Decentralized Science (DeSci), an emerging field that applies blockchain principles to scientific compare and info administration.
If the deal is done, the acquisition would worth one of many principle main efforts to integrate genetic science into the chain.
Apart from that, the acquisition might perhaps also moreover enhance the DeSci trot, which continues to appeal to consideration and funding.
As of press time, info from CoinGecko presentations that tokens tied to DeSci initiatives protect a mixed market worth of over $657 million.
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's attainable. He imparts insights on a range of issues admire DeFi, hacks, mining and culture, underlining transformative energy.
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