New York, New York, Feb. 02, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- EncrypGen, the world’s first blockchain-mediated genomic DNA data marketplace, applauds CBS “60 Minutes” for its segment, “The Big Money Market for Your DNA,” examining the global DNA data market and highlighting existing business models that may result in the exploitation of consumer DNA data. From its outset, the EncrypGen platform had been built around the principle that consumers should be able to benefit from the multiple commercial uses of their DNA data.
The “60 Minutes” segment in its investigation of genetic DNA testing companies’ sales practices as well as their ties to foreign governments revealed several alarming issues related to how individual DNA genetic data is accessed, exposed, and exploited, something that has potentially impacted over 50 million Americans and underscores the need for transparency and security for what is the most personal of data.
EncrypGen President and COO, Brian Jalazo, states, “We are encouraged by “60 Minutes” putting a spotlight on the often overlooked and misunderstood issues around the ownership, usage, and security of genetic data. At EncrypGen, we are champions of personal sovereignty and fair exchange. Dedicated to democratizing the global DNA data market, we believe an honest and open discourse is a launchpad to positive change.”
Dr. Ali Loveys, managing partner at the BTblock Health Group and EncrypGen advisor, observes, “Technology now exists that puts the individual in control of their data. Individuals can now choose with whom their data is shared. Moreover, through the EncrypGen platform, the individual can choose to share in that wealth, an option that was not available before the advent of blockchain-enabled applications. EncrypGen is a perfect example of how we can now flip the model to put the individual in control of their data, first and foremost.”
According to EncrypGen CEO and Co-Founder, Dr. David Koepsell, “Genetic data is extremely valuable in helping us find new cures to diseases old and new, and eventually enabling us to be treated efficiently through personalized medicine. Yet, if DNA data continues to be bought and sold outside open and transparent markets, without profiting those who donate that data, we will end up with a lack of trust due to individuals being used as a product, not engaged as partners.”
Multiple consumer genealogy firms have been the target of cyberattacks, putting DNA data at risk. Both Ancestry.com and 23andMe told “60 Minutes” they have not been breached, but that it remains a serious concern. At EncrypGen, cybersecurity posture is critical. To that end, Mikael Björn, Managing Director of Cybersecurity Solutions and Research Practice for BTblock, is leading a full cybersecurity assessment of the EncrypGen platform.
About EncrypGen:
EncrypGen, Inc. creates software that empowers individuals, researchers, and businesses to share genetic data. Founded in 2016 on the principle that individuals have the sovereign right to be secure in the ownership, control and use of their personal data, we have created a fully functioning and secure peer-to-peer blockchain driven genomic data exchange. EncrypGen is dedicated to democratizing the market for the safe and equitable exchange of DNA data between individuals and medical and scientific researchers. For more information, please visit www.encrypgen.com.
About BTblock Health Group:
BTblock Health Group, LLC is an affiliate of BTblock, LLC, an emerging technology and cybersecurity consultancy firm founded by seasoned entrepreneurs with an established record of building value through the creation, growth and sale of successful businesses. The BTblock Health Group enables ideation, validation, and implementation in bringing innovations to the healthcare and life sciences market. For more information, please visit www.btblock.io./btblock-health-group
Contact:
Brian Jalazo
President and COO