What it does
GenomeCDP is a decentralized application that empowers users to generate stablecoin loans against their genomic data.
The results of the users genome test is tokenized and the user can lock their unique token up as collateral in a CDP. The genome token includes a unique hash based on 60 single nucleotide polymorphisms(SNPs). The user can now leverage a CDP against the test results comprised of health and wellness data. If the data is sold to big pharma, insurers, research firms; the CDP is wiped and closed.
- Guarantee privacy
- Retain ownership of genome data
- Have greater control over how it is shared
- Collateralize your genomic data
Sources state a deal between 23andme and Genentech, said the U.S. arm of Swiss pharmaceutical giant Roche, offered to pay as much as $60 million for access to the data of about 3,000 patients with Parkinson’s disease in 23andMe’s database. That deal puts a value of $20,000 for each of those data sets.