ICO Analysis: Shivom
Genomics in health care is growing rapidly and can potentially provide answers and cures to rare diseases along with helping us stay healthy with prevention measures. However, genomics isn’t reaching its full potential on centralized databases where data isn’t easily accessible or shared on a large scale for research. Shivom is changing this industry by bringing genomics onto the blockchain where everyone will be able to get their genome sequenced and stored safely while having full access to their data. Genomic sequencing offers many benefits including prevention of disease, finding the most effective treatment with precision medicine, prediction of disease risk, disease diagnosis and ancestry information, among others.
An open marketplace will be created by Shivom where other providers will be able to add apps and services, genomic data analytics and precision medicine. Shivom will create the largest genomic data hub on a global scale. The Shivom global platform will function on collaboration, security and informed choice. Blockchain genomics will be the catalyst for precision medicine through open, collaborative and data-driven science. Since Shivom is using blockchain technology, it will ensure that the genome data is secured and owned by the data donors themselves. This also opens up possibilities to receive personalized precision health care. The precision medicine market alone is projected to be $112.6 billion by 2025.
The competition includes companies such as 23andMe, AncestryDNA and Illumina. However, these companies offer a sliver of what Shivom will provide on a global scale. For example, 23andMe has sequenced 1 million customers with a market value of $1.3 billion. Shivom’s first project will sequence 60 million customers by using blockchain technology that enables them to service multiple countries immediately.
Shivom’s ERC20 token will be called OmiX (OMX), which will enable buying, trading and incentivizing donors. By utilizing OmiX tokens, donors will be able to buy sequencing kits and have access to personal genomic data and services. Other providers such as governments, insurance companies and pharmaceutical companies can use OmiX Tokens to sponsor sequencing projects and have the ability to pay donors for their data.
There will be a total of 990 million OMX tokens (33% of the 3 billion total supply) available for purchase during the token sale with a hard cap of 75,000 ETH. The price is 1 ETH = 7,000 OMX. Tokens allocated for the team and advisers will be vested for 1.5-3 years.
Below is the proposed token distribution:
- 33% Token Sale
- 20% Growth Pool
- 20% Reserve
- 14% Founders
- 10% Advisers
- 3% Community
The use of proceeds is as follows:
- 25% Laboratories
- 21% Marketing
- 20% Platform Development
- 11% Operations
- 10% R&D
- 6% Data Storage
- 5% Legal
- 2% Sequencing PoC
The team behind Shivom brings relevant experience in the medical industry, genome sequencing and blockchain development. The Shivom website lists 15 team members, nine innovation council members and three advisers including:
Dr. Alex Shumacher (CEO and Co-Founder) has over 20 years of experience in research and development in genomics, epigenetics and longevity while holding a Ph.D. in genetics. He is the author of the “Blockchain and Healthcare Strategy Guide”, as well as a faculty member of the Blockchain Research Institute in Toronto.
Sally Eaves (CMO and Co-Founder) is a member of the Forbes Technology Council.
Akash Garauv (CTO and Co-Founder) is a blockchain expert that started India’s first blockchain company Auxesis Group, which is a top 100 blockchain company.
Taavi Roivas was the Prime Minister of the Republic of Estonia and is now a member of the 12th term Estonian Parliament.
Dr. Jay Sanders is Harvard Medical School graduate and one of the founders of the American Telemedicine Association. He is in charge of the U.S. telemedicine initiatives to the G-8 nations.
Dr. Amalio Telenti from the Scripps Translational Science Institute is the Chief Data Scientist, Human Longevity Inc, a genomics company. He serves as Shivom’s Chief Scientific Officer.
Dr. William Yasnoff is also part of the team. In 2004, his work led to the creation of the Office of National Coordinator for Health Information Technology in the United States.
Shivom recently partnered with Genetic Technologies Limited and is a member of the Global Alliance of Genomics and Health and the Pistoia Alliance. More partnerships are in the works.
Large-scale genomic studies will allow researchers to gain new insights into the mechanisms underlying common diseases such as diabetes, Alzheimer’s and cancer, and enable targeted development of new drugs to combat them effectively. To integrate into the market, Shivom intends to collaborate with medical centers, non-profit healthcare organizations, patient support groups and for-profit organizations to ensure a global and wide adoption of the platform. Shivom will also be working with governments to get whole populations sequenced. Shivom’s goals and ambitions will take time but should be incredibly profitable if achieved.
- Educating the masses about the benefits of genomic sequencing, thus the adoption and integration of this platform will take considerable time. -1.5
- Many on the Shivom team have outside obligations which don’t allow for full attention, time, and energy to be given to the success of the project. -1
- The hard cap for Shivom is 75,000 ETH which equates to $27,750,000 USD as of this writing. Many ICO investors prefer a hard cap of $30 million USD or less and Shivom is currently in that range. However, if the price of ETH rises significantly before the completion of the token sale, so will the hard cap for Shivom. -0.75
- Some ICOs hit an exchange and the price drops dramatically with pre-sale investors dumping a large portion of available tokens for a quick profit. Shivom’s private sale contributors’ base tokens are locked for a period of two to eight months which prevents this from happening. Also, the team and advisers’ tokens are vested for 1.5-3 years. +4
- Having a large active community helps spread the word about your project, creates hype, and increases chances of having a successful ICO. Shivom has an extremely large Telegram group with 70,000 members as well as 46,000 Twitter followers. +3
- Being the first to utilize blockchain technology in their industry and is fully compliant with new EU data privacy regulations provides a major competitive advantage. +4
Shivom is creating a blockchain-powered ecosystem for genomic data which is stored in a decentralized database, with smart contracts regulating access to them. This allows individuals to control and/or get compensated for their own data. Shivom is partnering with governments and institutions worldwide in their mission to create the largest genomic database in existence. Being the first company in this industry to utilize the blockchain should pay off in the long run for Shivom and investors. With an experienced team in place, current and future partnerships, and token lockup/vesting for presale investors, team and advisors, Shivom receives a 6.75 out of 10 rating.
- Symbol: OMX
- Platform: Ethereum
- Total Supply: 3,000,000,000 OMX
- Hard Cap: 75,000 ETH
- Price: 1 ETH = 7,000 OMX
- Public Sale Date: Apr. 16, 2018 – May 16, 2018
- Jurisdictions Barred from Participation: USA
For more information regarding Shivom
Telegram: t.me/projshivom (70k+ members!)
Twitter: twitter.com/projectshivom (46k followers)