In all likelihood, the move of the SEI Foundation – the organization behind the Blockchain SEI layer1 – to buy a 23andme failed genetic data company is at best a long and potentially just a stroke of advertising. But, it remains an incredibly exciting idea that has reminded of many people.
If such a case to conclude, we would see a web 3 company saving a web2 company, which would have huge ramifications in itself. Web2 technology giants are already challenged in the field of AI by much smaller, agile and more flexible companies. However, the purchase of what was once one of the brightest stars of Silicon Valley by a blockchain arrives would be a total paradigm change.
Beyond that, an agreement would be a victory for public understanding for data security and confidentiality. Although we have all been vaguely aware of the meta, Google, Apple, etc., take and use our data, we have chosen to ignore this for the convenience it offers us.
Then there may never have been any cases such as 23andme, which contains DNA and other data for 15 million people. This shows the public to what extent their most personal and intimate data is vulnerable in the hands of companies and centralized organizations.
This is one thing when Facebook and Instagram follow our shopping and consumption habits and make our messages and emails sensitive vulnerable to leaks. With 23andme, we are talking about DNA data; The very fabric of our human bodies has just been dressed in Green for sale to the most offender.
If SEI does not succeed, which is very likely, this data can and can be sold to health or life insurance companies. They can then be able to use this data to potentially exclude people from vital or insurance health policies, thanks to the questionable way in which the American health system is managed and its applied discrimination policies.
Perhaps, finally, it is a turning point where the public can seriously understand the importance of having its own data. Maybe more people will realize that to keep their data really safe, they have total control of it through the use of decentralized blockchain technology.
Of course, not all blockchain are created equal. However, SEI certainly claims to be highly secure, and projects like Arweave – which is a permanent storage chain built on a “Pay One Store Forever” model – have applications that can allow you to download and store your data in private, safe and permanently.
These are two from a growing list of options in our industry, but the fact is as follows: there is simply no centralized solution beyond a piece of paper stored in a Swiss warranty deposit box with keys buried deep in the ground that can compare. And even then, someone can dig up these keys.
This is a moment of the watershed for people to understand the importance of self-tame of data. And it comes at a time when confidence in centralized organizations, businesses and even governments are breaking. As such, the sale of 23andm could mark a real turning point in history, which could reshape the way web3 is seen, understood and used.
