For more than 15 million people, taking a 23andMe test once seemed like a good idea.  For around 80% of customers, their interaction with the company went even further—they opted to have their data used in health research.

As you may know, 23andMe collects and holds sensitive, immutable, identifiable personal information about millions of American consumers who have used the Company's genetic testing and telehealth services.

Genetic testing service 23andMe has filed for Chapter 11 bankruptcy protection to keep the company running while reorganizing its debts.

Following the firm’s bankruptcy, researchers hope that they will be able to continue accessing the valuable data set even if it is sold to new owners.

Since genetics testing firm 23andMe filed for Chapter 11 bankruptcy protection and said it would seek to sell its assets, consumer advocates have voiced co

Would you trust a company with your most personal data — your DNA — if it was on the brink of collapse? Millions of 23andMe customers are now facing that unsettling reality as the genetic testing company faces an uncertain future.

Whether the Sei Foundation buys 23andMe, or not, the genetic data company’s bankruptcy shows the perils of centralized data collection and how blockchains can protect the public, says Phil Mataras, founder and CEO of decentralized cloud network AR.

The bankruptcy underscores the great risks of investing in many of the companies that have gone public via mergers with special-purpose acquisition corporations.