fbpx
Connect with us

Branding

Degenics.com wants to make a “VPN for your DNA”.

The concern over large technology companies owning and monetizing your data has arguably reached a fever pitch in the last year. One startup, Degenics (http://degenics.com) argues that we are not worried enough about a particular kind of data that is starting to gain immense corporate traction.

“We need to be more aware how personal genetic companies manage your data,” said Ms. Pandu Sastrowardoyo, the initiator of Degenics, in an interview Wednesday (1/20/21).  “These companies have your DNA-KYC pairs and the potential to wield immense power over you.” She further warns that a future ‘genetic underclass’ may appear, bolstered by insurance companies using genetic data to calculate premiums, (https://www.npr.org/sections/health-shots/2018/08/07/636026264/genetic-tests-can-hurt-your-chances-of-getting-some-types-of-insurance), companies using genetic data in their employee screening, (https://www.scu.edu/ethics/focus-areas/bioethics/resources/read-my-genes-genetic-screening-in-the-workplace/), pharma companies utilizing your genetic data for research (https://time.com/5349896/23andme-glaxo-smith-kline/), and the utilization of your DNA-KYC pair to charge your relatives with crimes (https://www.11alive.com/article/news/investigations/the-reveal/all-in-the-family-dna-investigation/85-179895c9-1b7e-4e93-8ab4-beae25a44a79). Another major concern is hacking: Genetic companies are already being hacked. (https://www.bloomberg.com/news/articles/2018-06-05/hack-of-dna-website-exposes-data-from-92-million-user-accounts)

It is with that intention that Pandu and her team created Degenics as an initiative to create a blockchain-based, anonymous-first DNA testing platform. In collaboration with Blocksphere (http://blocksphere.id), a blockchain consulting company, Degenics intends to partner with projects in the Polkadot blockchain ecosystem, including KILT Protocol to incorporate credentials for the project’s genetic lab & genetic products ecosystem.

The platform provides a meeting place between genetic testing laboratories and privacy-conscious genetic testing users, and includes sovereignty mechanisms that ensure that genetic test results produced will remain in full possession of each individual, while providing incentive-flow mechanisms for the laboratories.

The startup aims to address the global market for personal genetic testing, which is worth $ 12 billion, and is predicted to grow to $ 21 billion by 2027. (Ref: https://www.globenewswire.com/news-release/2020/10/20/2111178/0/en/Genetic-Testing-Market-to-Hit-21-26-Billion-by-2027-AMR.html)

Degenics is designed to prevent genetic data misuse, privacy violations, security problems, and the practice of selling genetic data without consent. There have been multiple debates about the usage of genetic data by businesses to classify, track, or analyze individuals.

Ms. Pandu, who currently also serves as the CIO of Blocksphere.id and sits in the Supervisory Board of the Indonesian Blockchain Association (http://asosiasiblockchain.co.id), believes that blockchain technology, along with sovereign credentials and decentralized storage, can solve these problems.

Transparency, data immutability, and decentralization allows complete user control in determining genome usage. Degenics allows users to undergo genetic testing without having to provide their name or other personal data. From the user point of view, genetic data that has been preserved on the blockchain is anonymous, sovereign, and can be reused many times.

Advantages for Genetic Labs

Degenics also allows small-scale genetic testing laboratories to join the global genetic testing market in collaboration with other labs.

Due to the Covid-19 pandemic, many labs have upgraded their genetic testing facilities through investment in PCR and next generation sequencing. Degenics allows laboratories to repurpose these facilities to offer personal genetic testing with a “marketplace” paradigm.

Initiation and Call for Action

Degenics was initiated by Ms. Pandu Sastrowardoyo, Jean Daniel Gauthier, Gilang Bhagaskara, and Aaron Ting. It has secured initial investment for the development of a blockchain dApp, launching widely in April. Degenics is also competing in several blockchain application competitions, including the Asian Blockchain & Fintech Competition in January, and ETHDenver in February.

Degenics calls for laboratories to register for the closed beta system test via https://degenics.com. Those seeking to become users of the platform can also register through the same site.

Advertisement Become A Crypto Expert

Join Disrupt Magazine

Become A Disrupt Contributor

Most Disruptive

Entrepreneurship9 months ago

Navy Veteran Davis Chris Takes the Music Industry by storm

In life, you need to break down anything that might be holding you back and change course if need be...

Entrepreneurship10 months ago

5 Disruptive Leaders Paving the Way in 2021

Where there is uncertainty, lies a whirlwind of opportunity. 2020 was the year that had entrepreneurs learn a great deal...

Politics1 year ago

Brock Pierce Wants To Disrupt The Two Party System And Be Your Next President

We don’t usually cover politics much here at Disrupt, but when Crypto billionaire and friend of the show, Brock Pierce...

Business1 year ago

John Mcafee – Predictions For The Future

John McAfee is a world-famous tech CEO, computer scientist, civil disobedience activist, privacy advocate, and pioneer of the commercial anti-virus...

Finance2 years ago

Gaby Wall Street – Teaching Latinas to Thrive During The Crisis

It’s no secret we are facing one of the most challenging financial times of the last few decades as we...

Entrepreneurship2 years ago

Tony Delgado – The #1 Entrepreneurship Movement In Puerto Rico

Puerto Rican online market is in constant progress. With many entrepreneurs who are coming here to start a business, it...

Entrepreneurship2 years ago

Elena Cardone – The 10X Ladies Conference Is Declaring 2020 The Decade For Women

The next ten years are meant for women to continue growing their potential and succeeding in multiple areas, including business....

Marketing2 years ago

How Josh Elizetxe Built Snow Into a $40 Million Dollar Business

There is nothing quite like an entrepreneur’s determination when starting a business. That’s my original quote by the way (pun...

Entrepreneurship2 years ago

How Jason Capital Became A Self Made Millionaire By 24

Have you ever wanted to earn the respect of everyone who ever looked down on you at some point in...

Entrepreneurship3 years ago

Sam Bakhtiar On His Way To A Quarter Billion

Dr. Saman Bakhtiar, who prefers being referred as Sam, lives in an 8200 square foot $5.2 million house, Sam is...

Trending

Copyright © 2020 Disrupt ™ Magazine - Disrupt is a Minority Owned Privately Held Company

Disrupt ™ is the voice of Latino entrepreneurs around the world. We are part of a global movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities around the world. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. This Podcast was designed to give them a taste of that.