The demand for genetic DNA Data has increased over the last one year and this research has created a conflict between the corporations, medical facilities and individuals. Consumer genetics corporations have been using individuals DNA data without compensating the individual. Companies make money from your DNA data sale to other businesses without your authorization.
Blockchain technology is making is possible for you to control access of your DNA data and sell it for your own benefit. Very soon, if one is broke they will have the ability to pawn their body fluids to the most profitable organizations. Blockchain is making it possible to upload ones genetic code into the technology and make DNA data sales in exchange of cryptocurrency.
Powerful tests need to be done so as to fully understand the relationship between the many diseases that are currently killing people and genetics. Many genomes are therefore in need so as to fuel this research. When paired with confidential health information, genetic DNA data can reveal very personal information about ourselves and our relatives.
How it works
Blockchain technology will facilitate the exchange of encrypted genetic DNA data. This innovative solution provided by blockchain will permit the users to securely upload their DNA data and store data of a maximum of five family members. The genetic DNA data sale can only be shared if permission is granted or if the buyer has met the conditions set by the seller.
Customers will be allowed to upload their DNA data from third party providers and users will be able to get notifications whenever third parties are interested in their DNA data. This transaction will be facilitated by DNA Crypto tokens and the records will be published on the blockchain ledger of the decentralized system.
So many companies are getting into this crypto DNA data sale industry with their own platforms. They aim to encrypt and fragment DNA data so as to prevent theft. Users are to be provided with secure data storage and the option of selling their DNA data using the platforms cryptocurrency tokens. Other platforms enable you to upload your data for research reasons and in exchange you are given their crypto coin. Blockchain is by far the most suitable platform for costs, privacy and security of the genetic DNA data sale.
However, most people are worried if these platforms crypto token will have value especially now with all the volatility visible in the cryptocurrency industry. Some of this platforms include: Luna, Zenome, Nebula, and Encrypgen, who are focusing on building an Amazon of DNA data sale.
Risks Entailed in the Crypto DNA Data Sale
- There will be an increase in misleading health data as the incentive given to the sale of genetic DNA data is attractive. The quality of this service will be questionable as there is no proof of [scientific backing of the data.
- The technicality in the buying and selling of crypto is challenging enough. Adding this to DNA data privacy and data consent access will increase the complexity in the nature of blockchain technology.
- The pricing of DNA data based on the volatile cryptocurrencies is difficult. No one is sure of the implications of a DNA marketplace or whether people will continue to donate DNA for research purposes or they will prefer to sell DNA.
- The security and privacy of genetic DNA data on blockchain is still questionable.
No one can forecast the future of this technology that is still not yet regulated. But if the companies succeed in giving back control of personal genetic DNA data to individuals, then the proposals are in the right direction.