Your paranoia is appropriate in inverse proportion to the ability you have to control what information about you is collected, and how it is used. Unfortunately, the mavens of on-line data aggregation want to control and sell that information about you. The symptom is privacy paranoia, but the problem is that you have been turned into the raw material from which valuable data can be mined.

While some children do wander away, the real fear that this device appears to cater to is stranger abduction. The problem is that stranger abduction is rare. Abuse by family members or close family friends is much more common, and often does not involve the child being abducted or going missing. This technology would seem to be tailor made to enable abusers to track and control the children that they are already controlling and manipulating.

I'm just saying that maybe security and privacy controls need to be built into sequencing software before we can read a sequence like a newspaper and start evaluating people and treating them differently based on their genome.