- The Value of DNA Data and Hacking Threats
- Encrypted DNA Vaults and Genetics-to-Earn Model
- How to Protect Your DNA Data
Genetic testing companies like 23andMe and Ancestry.com attribute significant value to genetic data. The use of this information has become a crucial part of the market, but users often do not realize the true value of their data.
The Value of DNA Data and Hacking Threats
The global DNA sequencing market was valued at over $10 billion in 2023. Companies sell their users' genetic data to pharmaceutical companies and researchers without giving users a share of the earnings. According to Aldo de Pape, Chief Commercial Officer of Genomes.io, there is a significant hacking threat and data leakage risk, as seen with 23andMe in 2023 and MyHeritage in 2018.
Encrypted DNA Vaults and Genetics-to-Earn Model
Genomes.io offers secure 'vaults' that contain users' genetic results and are end-to-end encrypted. Only the key holder has access. Users can earn a share of the profits if their data is used for research.
How to Protect Your DNA Data
To protect your genetic data, users should carefully read the privacy policies of companies, choose services that offer data encryption and control over data usage. Genome-focused companies offer a model where users can receive compensation for the use of their data.
Genetic data is highly valuable, but users often underestimate its worth. Choosing a company with data protection and compensation models can help users control their genomic data and fairly partake in the profits.
