The Sei Foundation, a non-profit organization behind the Sei (SEI) blockchain, is considering acquiring the bankrupt personal genomics company 23andMe and transferring the genetic data of 15 million users to blockchain technology.
In an X post on Thursday, the foundation revealed this ambitious plan, calling it their “boldest DeSci bet yet” in support of decentralized science. Earlier this year, they also launched a $65 million venture capital fund specifically for DeSci startups on the Sei network.
The foundation emphasized the importance of genomic data security as a national security concern, especially given 23andMe’s financial struggles. The company, known for its direct-to-consumer DNA testing services, recently filed for Chapter 11 bankruptcy protection.
If the acquisition moves forward, the Sei Foundation intends to migrate 23andMe’s data to their blockchain, granting users ownership of their genetic information. This approach ensures privacy through encrypted transfers and allows individuals to determine how their data is used for monetization.
“This initiative goes beyond saving a company; it’s about creating a future where individuals retain control over their most personal data,” stated the foundation.
Following 23andMe’s bankruptcy filing, several state attorneys general have advised customers to delete their data from the platform in recent days.
SEI, the native token of the network, briefly surged by 3% upon the announcement before experiencing a partial pullback.
