Shivom ICO- Hardcap nearly hit
Shivom have already raised $32 million from their token sale out of a $35 million hardcap.
Check their website here
What is Shivom?
I originally wrote about them here. They're planning to store genomic data on the blockchain with the goal of revolutionizing the healthcare industry, to do this they plan to create a decentralized database full of healthcare data.
Market size
Shivom state in their website that the global healthcare market is estimated to be worth over $80 trillion, this is expected to rise quickly as low income countries expand.
The Genomics area of this market is estimated at around $20 billion. This market has grown quickly with many individuals now wishing to trace their family tree due to cost involved now being so low. It's also possible to test for various diseases that someone is likely to pick up based on their DNA.
One of the main problems with the market however is that the companies collecting this data then sell it to other companies without the user really realizing what they authorized when they signed up.
Users will be able to monetize their data
All of the data on the Shivom platform will be stored securely on the blockchain. Users will then have the option of selling this data to 3rd parties if they wish or they can choose to keep it private.
Omnix token
The new Omnix token will be used for all transactions on the platform. Users will also be able to earn tokens by referring other users and even for updating their health information. They'll then also have the option to sell their data to third parties.
ICO Details
The token sale has been selling out quickly with most of the tokens already sold despite the sale still being in 'pre sale'. The tokens are priced at 1 ETH= 7,000 Omnix. The hardcap is set to $35 million with the Shivom website showing sales of $32 million already.
Check out more details on their website and on their social media channels:
Website: Shivom website
Telegram group: https://t.me/projshivom
ANN Thread: https://bitcointalk.org/index.php?topic=3204563.0
Bounty Thread: https://bitcointalk.org/index.php?topic=3183600.0
@dan90 interesting concept, but that data could be monetized using one of many different existing cryptos. I wish the project well, but I just think that application specific tokens are getting harder and harder to justify.
Sorry what genomic data are they trying to store?
I dont think this is a good project. I saw someone else promoting it as well and think this is doomed to start with.
Firstly, anonymous dna samples can be collected easily anywhere human being inhabit. When i get a hair cut, i leave sample of my dna at the salon, when i eat at a restaurant, i leave my dna there and so does everyone else. So no one in the world should have any problem collecting dna samples globally.
Second, someone mentioned that data will be stored securely on a decentralized blockchain. When i dont care about leaving my dna everywhere, why will i care about its security?
Third, why will someone give me a dna report for free when they are the ones who have done some work to make that report. According to you, not only will they pay me for my dna sample, but also analyse it and provide free analysis of the day. How does the medical research company make money.
Fourth, most medical research is funded by companiea because they can then sell the drug for money. This requires investment. Dna is a very small part of that. Running the lab for a number of years, test equipment, salaries. I dont see any information on the business model of shivom or the medical companies using shivom to assess the success rate of this project.
Please dont promote random icos and force people into making poor investment decisions. People are investing their hard earned money. Give people some respect.
Great article, thanks for sharing. I've smashed the upvote button for you and i'll check out Shivom!
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this project seems to be going on under the radar
Yeah, they sold most to private investors, doubt it will even make it to the main ICO
The main ICO ended in 15 seconds. I think think that one whale or few bought it.
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This post, with over $50.00 in bidbot payouts, has received votes from the following:
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