It aims to streamline laws and create a single, multilateral system focused on generating revenues for conservation from use of DSI.

About Digital Sequence Information (DSI)

• It is a policy term that refers broadly to genomic sequence data and other related digital data. 
• It includes digital representation of genetic resources and biological data, such as DNA, RNA, and protein sequences.
  • There is yet no consensus as to exact interpretation and scope of term.

Significance

• Research: It can aid in biological research like understanding evolution of life, bioprospecting (systematic search for useful products from bio resources) etc.
  • E.g. virologists used SARSCoV-2 DSI to design diagnostic kits for COVID-19
• Agriculture and food security: Helps develop pest-resistant, high-yield, and climate-resilient crop varieties.
• Species conservation: Help identify and mitigate risks to threatened species, track illegal trade etc.

Challenges Associated with Digital Sequencing:

• Lack of accountability: Public databases used to share DSI, established prior to the adoption of CBD (1992), are not accountable to CBD or its parties.
• Lack of equitable benefit sharing: Primary sectors linked to DSI generate $1.6 trillion annually in revenues, excluding potential benefits to country of origin and communities.
• Other issues: Privacy Concerns, Data Security risks, Ownership issues, Technological Constraints etc.