The foundation behind Sei's layer-1 blockchain announced it is considering acquiring genetic testing company 23andMe following its bankruptcy filing.
Reasons for Potential Acquisition
On March 27, Sei network announced its foundation was exploring the acquisition of 23andMe to protect the genetic privacy of 15 million Americans. If the biotechnology company is acquired, the foundation plans to deploy all genetic information on the blockchain and return data ownership to users through encrypted, confidential transfers.
Reactions and Potential Impact
23andMe initiated a bankruptcy process on March 24, assuring no change in data storage and protection methods. However, the news reignited concerns over data privacy. The price of Sei's token temporarily rose from $0.209 to $0.215.
Role of Government in Data Protection
New York and California Attorneys General urged 23andMe users to contact the company to delete personal data, highlighting rights to privacy and DNA sample destruction. State laws give users control over their data.
The potential acquisition of 23andMe by Sei highlights the pressing issue of data protection in today's world. While blockchain promises enhanced security, questions around privacy and governmental roles remain.
