ICO Spotlight | Cryo – Do You Want To Live Forever? Consider This Cryptocurrency To Improve Your Chance

kryptonaut (57)in #cryo • 6 years ago (edited)

VISION AND VALUE PROPOSITION

Fair warning: this review is not an overview of what cryonics is. If you are not familiar with cryonic preservation I suggest you read Cryo’s whitepaper along with other reading materials on the internet. However, if you don’t feel like a lot of reading at the moment, in short, cryonics is the low-temperature preservation of people who cannot be sustained by contemporary medicine, with the hope that resuscitation and restoration to full health may be possible in the far future. In other words, cryonics will give those that get their life cut short by disease the potential for a second chance. It will also give people that just want to extend their lives the option to potentially do so. Lastly, cryonics has the potential to make ulta-long space travel possible. Space travel duration time is a major challenge for humanity to colonize beyond Earth.

The goal of this review is to inform the reader on a cryonics company named Cryo, that wants to leverage cryptocurrency to achieve their mission in the following areas:

Bring awareness the cryonics industry.
Stimulate and accelerate cryonics research funding in many needed areas such as a secure and reliable process/method to create a completely safe thawing technology.
Give everyone an opportunity to potentially extend their lives.

Cryo will distribute a cryptocurrency token using the symbol CRYO. The cost of CRYO will be significantly lower than payment by conventional currency. CRYO holders will be able to purchase cryonics services, digitization services, and science shares for participation in research.

I’s important to note that Cryo realizes that cryo services are not currently cheap. Therefore, Cyro will offer an installment plan for customers that are unable to purchase services outright. The complete list of services and their cost is in the next section.

CRYOMARKET LIST

CRYO may be redeemed for the purchase of the following items:

CRYO SERVICE	CRYO Cost
DNA Preservation	1,000
Transportation	3,000-10,000
Neuropreservation	18,000
Full body cryopreservation	36,000
Animal cryopreservation	10,000-36,000
Standby Services	50,000-100,000
Science Shares	TBD

ICO DISTRIBUTION DETAILS

TOKEN: CRYO

CIRCULATION: Based on amount of raised funds during PRE-ICO and ICO stages.

TOTAL CIRCULATION: The number of tokens will be limited and no more will be issued.

RESTRICTIONS?: N/A

ICO PHASE	DISCOUNT	EXCHANGE RATE
Private Sale (Now Closed)	NA (Closed)	NA (Closed)
Pre-ICO (Nov 7-21)	30%	1 CYRO = $0.70 USD
Full ICO	0-15%	1 CYRO = $0.85-1.00 USD

DISTRIBUTION OF ICO FUNDS

AREA	PERCENT
Building of cryonics centers and international scaling of CryoGen	30%
Technology Development	25%
Marketing, PR/GR	20%
Project Management (including legal and administrative expenses)	15%
Strategic Partners	5%
Reserve Fund	5%

ROADMAP

DATE	MILESTONE
2018	Opening of the NGO CRYOGEN with the Swiss jurisdiction
2019	Start of the mas experiments reversible cryopreservation of animals organse
2020	The technology of euthanasia cryonics is worked out and applied. Start of the development of technologies for reliable and effective reversible cryopreservation of the mammal organs.
2021	The technology of reliable and effective reversible cryopreservation of most mammal organs has been obtained. Experiments begin with the organs of the dying people.
2022	Anabiosis technology developing for deep space flights.

Cryo’s whitepaper has a more detailed Roadmap.

FINAL THOUGHTS

I choose to review Cryo because it’s the first cryonics company that I’m aware of that is using blockchain technology to achieve their goals. I’m also curious about the cryonics field, and I find the topic fascinating because it has an ethical component and a wide range of considerations that are not black and white. As much as I want to express my opinions and start a discussion about cryonics, it’s not within the scope of this review. However, what is in-scope is what I think of Cryo’s plan and share my opinions on the health of the overall cryonics industry.

While I couldn’t find any recent cryonic consumer sales figures, the forecasts/estimates for the global cryonics equipment market should give us an indication at the general health and size of overall market.

The global cryonics equipment market is expected to reach approximately 24 billion USD by 2022 with a compound annual growth rate (CAGR) of around 7.8% according to the following sources: (Source 1, Source 2, Source 3)

The above forecasts in global cryonics equipment tells me that the market is at least growing and that there is probably some portion of consumer demand that is driving growth.

I also couldn’t find any recent reports regarding cryonics research funding. I’m not surprised at this because Cryo has pointed to insufficient financing of fundamental research as an issue in their problem statement section of their whitepaper. Cryo points out that cryonics organizations are not sufficiently engaged in research and development of cryonics and use much of the same practices for the past two decades. Scientific research funding is an area that Cryo feels that they can support by offering a way for CRYO holders to purchase Science Shares in their CryoMarket.

Cost is a major barrier to more consumers entering the market. Prices vary greatly and whole-body cryopreservation can cost as much as $200,000. Cryo offers full-body cryopreservation at 36,000 CRYO, which at the end of their ICO distribution puts the cost at $36,000, but standby by and transportation services could significantly bump up the cost making cryonic preservation even more out of reach to the majority of the population.

As I mentioned above, Cryo has an installment plan and claims that using CRYO will be lower than conventional currencies. However I'm not completely convinced. That may only be true if the demand for CYRO grows and hodlers experience a price appreciation. If the price of CRYO drops then the cost for holdlers will increase as it will take more CRYO to purchase services. However, a price drop will benefit future buyers as it will cost less in relation to what existing hodlers paid. For example, if CRYO drops to 0.50 per CRYO then that 36,000 CRYO will now cost me $18,000 then when CRYO was at $1.00 per CRYO. However, if the price appreciates then it will cost more for future buys as it will cost more for a person to obtain 36,000 CRYO. This is a definite problem for Cryo either way.

Cryo may need to figure out ways to stabilize CRYO’s price and protect hodlers and themselves from price drops. Other cryptocurrency companies use a variety of ways to encourage buyers to hold their tokens. Staking is the most popular way, but it is not the only way. Perhaps the simplest solution would be just to give their products a cost in fiat instead of CRYO.

It’s likely that I’m missing something and pricing services in CRYO might not be problem at all [If Cryo is reading this please share the gaps in my analysis so that the community (and I) has a better understanding].

Cost aside, I think Cryo using blockchain to achieve their goals is pretty cool and hopefully Cryo will focus on ideas that will leverage the technology even more in the future that will reduce the cost for consumers while not hurting the bottom line.

Do I want to live longer? I’m not sure right now, but I’m sure that I’ll closely follow Cryo’s progress and the cryonics industry writ large if and when I have a more concrete answer. At the very least, I plan to support any technology that increases humanity's chances at survival by donating through Cryo's science share option.