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This Company Is Helping You Get Paid For Your Genetic Data

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EncrypGen
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Back at the start of 2015, California based genomics company 23andMe struck a deal with healthcare and biotechnology behemoth Genentech, owned by Roche Holding Ltd. (SWX: RO), that would see the former sell genetic access to its database of genetic data to the latter for research purposes.

The deal, reported to be worth up to $60 million for 23andMe, saw Genentech pay $10 million upfront for access to data from around 3,000 individuals, each of which had paid 23andMe to conduct a personalized DNA analysis, with the promise of the remaining $50 million over time, as and when certain milestones are hit.

Customers are able to request that their individual data not be shared with any third parties, but the vast majority don’t make this request.

On the face of it, submitting the results of a genetic analysis to a pool that can be used to potentially find new treatments for diseases such as Parkinson’s and Alzheimer’s is a noble and worthy action. Indeed, to opt out of this sort of submission seems selfish, similar in tone to opting out of donating body parts after death.

That’s a valid statement – but there’s another, perhaps more important, question that very few people asking: should 23andMe (and other companies) be the ones drawing financial gain from DNA submitted by individuals?

Surely, the individual should have the option to monetize their own genetic makeup?

And we’re not talking small numbers. Using the figures above, Genentech is valuing each individual’s genetic data in the 23andMe database at more than $3,300 at the upfront rate alone (the $10 million initial payment) and six times that based on the paid-in-full deal size.

One company has recognized this issue and has, over the last twelve months, developed a solution.

The company is called EncrypGen.

EncrypGen has developed what it calls the Gene-Chain, which is a blockchain based platform that allows for the storage, searching, buying and selling of genomic data. Individuals can store their data on Gene-Chain completely free of charge and can then control it how and when they see fit – by sharing access to it with doctors, for example, or (and as is more in line with what we’ve discussed above) by selling access to it to biotechnology companies for research purposes.

This sort of database type storage and manipulation has, in the past, been incredibly risky for an individual. Databases (in their legacy format) are prone to security risks and there’s practically no guarantee that an individual that stores their genetic data on a centralized storage system will be able to keep that data from falling into the hands of malicious operators.

With blockchain technology, however, this has all changed. Individuals that submit their data are de-identified, through cryptography, to ensure anonymity, and only they can gain access to the data that’s stored on Gene-Chain (that is, of course, unless they want to share it, which they can do through the company’s application).

The important thing to recognize here is that this is the next logical step in the rapid rise of genome data harvesting and research applications. This sort of data is incredibly valuable and companies like 23andMe recognized this ahead of the curve, setting out to collect it in large numbers and subsequently repackaging it for resale to interested buyers.

With Gene-Chain, however, EncrypGen gives individuals a way to leverage the value of their own DNA and benefit directly, not just financially but also in terms of potentially improved medical outcomes based on physician access.

Find out more about EncrypGen and Gene-Chain here.


Image courtesy of University of Michigan School for Environment and Sustainability via Flickr

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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New Tendencies of Bitcoin Gambling

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Bitcoin gambling
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Gambling has always been an integral part of human nature. Nothing is sweeter than the money you win, and that’s why wagering games have always captivated people throughout history. Last couple of decades saw the gamblers switch increasingly towards virtual gaming, instead of physically being inside a casino. The popularization of online casinos led to the integration of Bitcoin Gambling into the systems and today a very large share of the casino industry is based on the virtual currency.

Reasons behind the transition

The tendency to switch from classic casino environment was dictated by the fact of mobility and accessibility. But the new age has brought us cryptocurrencies like Bitcoin that revolutionized the gambling business. From now on, the gamblers of the world don’t have to rely on traditional banking transactions to be able to enjoy themselves online. A simple crypto-wallet and ownership of virtual currency is enough to engage in Bitcoin Gambling.

Bitcoin Gambling and Blockchain Technology

The big reason for the heavy shift towards Bitcoin Gambling is the fact that Bitcoin and other cryptocurrencies are based on the blockchain technology. This means that the process is decentralized, resulting in a much faster speed of transactions, when it comes to depositing or withdrawal of funds in or from the casino accounts. It also makes gambling incredibly secure,…

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Bitcoin

Bitcoin will return to the bear market? Bex500 senior investor teaches you how to get profit in the Bear market

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—— Don’t forget to join Bex500 bonus program at the bottom of the article.

Since September, the Bitcoin price has been decline from beyond $10000 to below the $8000, which 20% of the bitcoin value has been removed. The collapse of bitcoin price brings about the new panic in the bitcoin trading market. Many bitcoin investors are scared of the returning bear market as the early of this year. On the contrary, some of the bitcoin-believer, especially the investor who brought Bitcoin in the height of the price still thought that the bitcoin price will rebound very soon. However, it is no doubt that the early stage of the bear market has been shown up in the past month. Many crypto analysts start to predict the bottom price of this market movement.

However, as the market developed, crypto traders have detected more tools to safely pass through the bear market. They realized more ways to avoid the loss of the price decline; moreover, they began to earn profit from the bear market. The key to the tools is the bitcoin futures contracts. We are honored to make an interview with Bex500 senior investor Tom Beck and he introduces the details about bitcoin futures contracts. (Reporter=R, Tom Beck=T)

R: Hi, Tom, Thank you for accepting our interview, Could you introduce yourself?

T: Sure, My name is Tom, I have over…

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