Released on September 2, 2021
Back to episode listIn this piece, we delve into the intriguing world of NFTs (non-fungible tokens) and blockchain technology, examining in a light-hearted fashion how these could revolutionize the fields of genomics and bioinformatics. We even suggest a radical idea: replacing all central genome databases with our envisioned cryptocurrency, either BioBucks or perhaps GenomeCoin.
NFTs have taken the digital world by storm, providing a unique avenue for owning and trading digital assets. The potential application of blockchain and NFTs in genomics could enable secure, verifiable, and decentralized storage and transaction of genomic data. This approach might not only safeguard personal information but also enhance the efficiency of genomic data sharing across the scientific community.
For those interested in the intersection of genomics and intellectual property, the Myriad Genetics legal decision provides important context. You can read more about it in the SCOTUS decision. Additionally, NPR's Planet Money episode explores the complexities of patenting genes, a hot-button issue that could be influenced by the adoption of NFTs in the field.
The explosive sale of digital artwork by Beeple, which fetched $69 million, illustrates the financial power of NFTs. You can read more about this high-profile sale on The Verge. Blockchain technology could similarly transform genomic data transaction, making it as lucrative and revolutionary as digital art.
Interested in creating your own NFTs or trading them? Resources like CoinDesk offer guides on how to create, buy, and sell NFTs. These step-by-step processes could be tailored to genomic data, establishing a new marketplace for bioinformatics research.
In conclusion, as we gazed into the future of NFTs and blockchain within genomics, the potential applications seem as limitless as they are exciting. Whether we eventually embrace BioBucks or GenomeCoin, the union of these technologies with genomics could herald a new era in bioinformatics.