Idea for a start-up that I will never start

I was thinking today that sooner or later the sequencing of the humane genome will be trivial or at least very easy. And then all hell will break loose: all that information will be compressed in files and shared/uploaded/sold/purchased/you-name-it. A team of biologists and computer scientists could develop a file format: let's say '.dna' to compress and standardize this type of data. Do you find this science-fiction, impossible, trivial, is it already done?