In all chance, the transfer by the Sei Basis – the group behind layer1 blockchain Sei – to purchase bankrupt genetic knowledge firm 23andMe is a long-shot at greatest, and doubtlessly only a publicity stunt. However, it stays an extremely thrilling concept that has bought lots of people pondering.
Have been such a deal to undergo, we might see a Web3 firm rescue a Web2 firm, which might have huge ramifications in and of itself. Web2 tech giants are already being challenged within the space of AI by a lot smaller, nimble, and extra versatile firms. Nevertheless, the acquisition of what was as soon as one in every of Silicon Valley’s shiniest stars by a blockchain upstart can be a complete paradigm shift.
Past that, a deal can be a win for public understanding for knowledge safety and privateness. Whereas we’ve got all been vaguely conscious of how Meta, Google, Apple, and many others., take and use our knowledge, we’ve got chosen to disregard that for the comfort it affords us.
Then there has maybe by no means been such a case as 23andMe, which holds DNA and different knowledge for 15 million folks. It exhibits the general public how weak their most private and intimate knowledge is within the palms of centralized firms and organizations.
It’s one factor when Fb and Instagram are monitoring our buying and shopper habits and making our delicate messages and emails weak to leaks. With 23andMe, we’re speaking DNA knowledge; the very material of our human our bodies has simply been green-flagged on the market to the very best bidder.
If Sei just isn’t profitable, which is almost definitely, this knowledge can and could be bought to well being or life insurance coverage firms. They could then be capable to use this knowledge to doubtlessly exclude folks from important healthcare or insurance coverage insurance policies, because of the questionable method through which the U.S. healthcare system is run and its discrimination insurance policies enforced.
Maybe, lastly, it is a turning level at which the general public could critically come to grasp the significance of proudly owning their very own knowledge. Perhaps extra folks will notice that to maintain their knowledge really secure, they’ve full management of it themselves by means of the usage of decentralized blockchain know-how.
After all, not each blockchain is created equal. Nevertheless, Sei actually claims to be extremely safe, and tasks like Arweave – which is a everlasting storage chain constructed on a “pay one store forever” mannequin – have functions that may let you add and retailer your knowledge privately, securely and completely.
These are two amongst a rising record of choices in our business, however the level is that this: there’s merely no centralized resolution past a bit of paper saved in a Swiss safety deposit field with keys buried deep within the floor that may evaluate. And even then, somebody can dig these keys up.
This can be a watershed second for folks to grasp the significance of information self-sovereignty. And it comes at a time when belief in centralized organizations, firms, and even governments is breaking down. As such, the 23andMe sale may mark a real turning level in historical past, and one that might reshape how Web3 is seen, understood and utilized.
