Monetising genetic data: how can blockchain help individuals?

In 2015, 23andMe, a California-based genetic company, reportedly sold its customers’ data to biotech company, Genentech, for $60 million. This collaboration aimed at developing a drug for Parkinson’s disease was initially chastised by authorities for operating without the US FDA’s clearance. Whilst the partnership was profitable to both companies, what effect did it have on the pockets of the Parkinson’s customers whose DNA data was sold?

So, whether or not you should get paid whenever your health data is used or sold is a long-standing question, of which the answer would likely to remain as a “yes”. The Chicago Booth/Kellogg School Financial Trust Index evaluates consumer trusts in industries and, according to a survey it conducted, about 93% of the respondents were unwilling to share their health data with tech companies for free - over 50% would not sell their health data for less than $100,000, 13% would sell their protected health information for between $1,000 and $10,000, and 27…