- The Facts:DNA information services like 23andMe are now selling consumer data to big pharma. A new company, Timicoin/TimiDNA, is allowing consumers to access DNA services without having to share data. If they do allow it, they can profit from it.
- Reflect On:Are we seeing a shift in power coming back to people as we become more aware of how corporations profit off the backs of consumers? Will this bring more ethical business practices? Will we see even larger scale changes in the way we support corps?
With the recent news that 23andMe teamed up with big pharma to use DNA data collected from users of 23andme, many people began to question whether or not their data was safe, being collected for ominous means, and ultimately what it could be used for in the future.
by Ole Dammegard
Yolanda Yogapanda is a very smart and wise little panda bear. Together with her best friends, Toby Trunk and Leopold the stripy lion, she encounters various challenges in life – challenges Yolanda Yogapanda usually have great ways of solving. This is the first in a series of children’s books (age 5-95 years) based on the wisdom of ancient and timeless teachings of great yoga masters like Patanjali and Sri Swami Satchidananda.
While corporations like GlaxSmithKline and 23andMe claim the data is to be used for clinical research and drug creation, do we truly know it stops there? Afterall, many users did not even know their DNA data would be shared and sold when they first sent their spit sample to 23andme.
But then again, 23andMe provides a service that some people see value in. After sending a spit sample to the company, you receive results about your DNA and genetic make up that can help you understand you and your health better. This can be useful. So how might we be able to still use services like this, but instead of not knowing where our data ends up, having control over it?
A week ago, Timicoin/TimiHealth announced they will be releasing their TimiDNA platform to the public very soon. They will be the first in the market that allows people to still have access to these DNA services while keeping their data secure on the blockchain and choosing whether they want to share/monetize it or not. In simple terms, if you don’t want anyone else to access your DNA data, you can make that choice. But if you decide to allow others to access that data, you WILL get paid for it.
“We want to be the first organization to actually pay you for your DNA data! Your data will be secure in our blockchain technology, and to you will have the ability to profit from it in our tokenized TimiDNA ecosystem, if you so choose. You will own it, control it, and monetize it,” said Will Lowe, founder of Timicoin/TimiHealth.
Individuals who already have DNA results through another source can access easy-to-use tools within TimiPatient to download and securely store those results. Once an individual’s data is in the TimiPatient app, he/she will own it, control it, and have the ability to utilize it as an asset which can be monetized.
“We are on a mission to tokenize consumer’s DNA information and allow them to first secure the data in a highly secure distributed TimiDNA blockchain, while giving them the ability to sell or not sell that data to researchers. Other genetics-based organizations are making money off the backs of consumers’ data often with no knowledge by the consumer that it is happening. They are cutting deals with big pharma and even doing equity swaps in partnerships to leverage the data for making new drugs. We simply believe consumers need to be the ones in control, be the ones to actively decide to participate, and be empowered to profit instead of these companies,” said TimiHealth’s clinical advisor, Dr. Jim Bonnette.
TimiDNA offers individuals unprecedented privacy and control over their DNA data.
“TimiHealth’s mission is to turn an individual’s very personal health data back over to each individual who will then own and control it. It’s the perfect moment in history where the technology can truly support the governmental and consumer outcry for individuals to own their own data. The California Consumer Privacy Act of 2018 is an example of where the future of the ownership of data is going, and individual control and transparency is exactly what TimiHealth is aligned with,” said Joyce Lignell, Chairwoman of TimiHealth’s Advisory Board.
TimDNA is offering a 2 million coin giveaway as the first 100,000 individuals who upload their DNA data to the TimiDNA platform will receive 20 Timicoins.
A Shift In How We Work With Corporations
We’re clearly seeing a shift in power here. The people are gaining more choice and power once again when it comes to what actions they take and how the precious commodity of data is used. While companies have been making billions off the backs of consumers for many years, this is about to change as consumers will now have the ability to either stop that data selling train or get paid to be part of it.
While this seems like a small step, this is leading towards further expansions of how we think about our actions, economies and how we all play part in that. Small steps like this lead to bigger steps that bring even more power back to people. We are what upholds the power of corporations. They don’t have power over us. We simply need to think about our choices.