The SEI Foundation, the non-profit development organization behind Layer-1 blockchain SEI (SEI), investigates the acquisition of bankrupt personal genomics company 23andMe, and places genetic data from 15 million users on the blockchain rail.
The foundation announced its initiative on the X Post Thursday, calling the plan “the boldest Desti bet ever.” Earlier this year, it launched again $65 million venture capital fund We are dedicated to Desci Startups, which is built on the SEI network.
The foundation said genomic data security is a national security issue. Especially because 23andme is tackling financial difficulties. The company, known for its consumer DNA testing services, filed for Chapter 11 bankruptcy protection earlier this week.
If the acquisition goes on, SEI's funds plan to integrate 23andMe's data into the blockchain, provide users with ownership of genetic data, ensure privacy through encrypted transfers, and allow individuals to decide how their data is monetized.
“This is not just about saving the company, it's about building a future where your most personal data is still in control of yours,” the foundation said.
Many state attorney generals have warned 23andMe clients to remove data from their recent platform since our bankruptcy filing.
SEI, the network's native token, climbed 3% following the news before returning some profits.
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