Pharma Creates Luna Coin Cryptocurrency To Get Your DNA
The practice of sending off your DNA to corporations in exchange for learning more about your heritage, as well as potential degenerative disease risk, has become more and more acceptable over the past few years. Led by Ancestry.com, the market to find out if you might be related to George Washington has shown no indications of fading away.
But the data that people are sending off has proven to be sought after for a great many other reasons much less related to people’s curiosity about their potential ancestors or health consciousness. The police have been given rights to use peoples’ DNA, a situation which has sparked a great deal of controversy. Additionally, programs designed to solicit DNA and genetic information have been further scrutinized by those who feel they open up the potential for government intrusion. As a society, willingly giving out your DNA to companies which have shown to willingly work with a government entity offers some rather terrifying potential narratives. This has caused many consumers to opt-out of sending off their DNA information to corporations. And that seems to have sparked concern by scientists who feel we really need to be sending our DNA samples off as a way to help the greater good. If you feel a slight bit discomfort right now, you should.
Scientists have now come up with a potential lure to entice people to give up their DNA. That lure is cryptocurrency. The growing interest in cryptocurrency has now led scientists to hatch a plan to attempt to bait people into turning over their DNA samples to the government in exchange for cryptocurrency investment. A group of scientists is going to give people who turn over their DNA to pharmaceutical companies interest in a new cryptocurrency called Luna Coin.
“We view that as an asset and want everybody to realize the value of that asset,” said Michael Witz, a Luna Coin co-founder and the project’s cryptocurrency expert.
Companies such as Ancestry.com and 23andme.com do not pay consumers to send in their DNA, they entice them to send it in by trading them information on their heritage or health history. They then sell this information to the pharmaceutical companies, which is how they earn revenue. However, declining trends due to people wisening up to such ploys and realizing that their DNA might well be better off not in the hands of pharmaceutical companies have forced pharmaceutical companies to hatch new plans (like this one). 23andme, for example, sells off your information to Genentech, a biotechnology corporation which is a subsidiary of Roche.
Realizing that the masses are now interested in cryptocurrency, pharmaceutical companies (or scientists) have realized a presence for an opportunity. That’s what Luna Coin is, an opportunity to trade a cryptocurrency for DNA samples. While I’m a large supporter of cryptocurrency (see my how to buy bitcoin guide), it is difficult to not question why the pharmaceutical companies would have this much interests in our DNA. Furthermore, why not pay in cash? Most likely, this is due to the fact that any entity can sling a cryptocurrency without it having any value. The pharmaceutical companies have found a potentially free way to gain access to our genes.
The company that creates Luna Coins is called Luna DNA. We can trace this back to the genetic research firm Illumina, where the Luna DNA’s CEO Bob Kain, was Illumina’s chief engineering officer. It isn’t difficult to put the pieces together from there. Luna Coins has blockchain experts and investors at their disposal.
Luna Coins are set to launch next year. They plan to earn $40 million to $50 million by selling the coins on the open crypto-market prior to turning them into DNA chum for a herd that’s desperate to gain position in a cryptocurrency market that’s incredibly inflated. Luna Coins will be considered “utility coins,” rather than currency. But what the specific utility will be is yet to be defined (or that utility is DNA capture). In case you are wondering, the term “Biorights movement” is being applied to setups which trade perceived value for “research” and DNA.
The ultimate strategy here, of course, is to play to peoples desperation and greed. Most of the herd has felt alienated from the cryptocurrency movement both because they can’t understand how it functions or they can’t ultimately afford to invest in it. Many cryptocurrency exchanges are backed up with waiting lists to join them, others are having difficulties processing identification verification processes which prevent people from trading the digital assets. The short-term mindset is a danger to our well-being and privacy.
Author: Jim Satney
PrepForThat’s Editor and lead writer for political, survival, and weather categories.