This startup lets you monetize on your genetic data

Blockchain allows users to provide access to their personal data and earn on it. Such data can even become information stored in the human genome. In the digital age, it will be of immense value. If the cost of genetic data in 2010 was about $ 5.9 billion, then by 2020 this figure will increase to $ 60 billion. This is explained by the increasing development of technologies in the field of genetic testing, pre-implantation genetic screening and diagnostics.

The main problem with the use and storage of genetic information is the lack of adequate security measures. Only large players can guarantee their inviolability. Therefore, now the pharmaceutical companies, research institutes and government organizations actually have a monopoly on the use of personal data. And this is the paradox: the genetic information, which is the undivided property of every particular person, is stored somewhere among third parties and used for unknown purposes.

The Zenome startup invites people to encrypt their genome with the help of blockade technology and return comprehensive control over their genetic information, nanonewsnet.ru reports. At the same time, it will be possible to provide scientists and pharmaceutical companies with individual parts of the genome for studying and getting paid for it. Thus, ordinary people who will be able to monetize their genetic data, and researchers who really need rare genome samples for studying, will also benefit.

The Zenome platform can also provide peer-to-peer networks for the safe storage of genetic research data. Scientists from around the world will have access to millions of samples of the human genome. At the same time, the information will be closed from the general public and reliably hidden by the privacy settings.

Reducing the cost of genome sequencing attracts more and more investors to this industry, where the main players are not hardware manufacturers, but startups analyzing large data. According to CBInsights, in 2017 such companies will receive $ 3 billion from venture funds.

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