The cryptocurrency market seems to be cooling down the last couple of weeks... maybe it's the start of a bearish trend, for all we know. For those who got in at the peak-hype, such as myself, things do look a bit bleak in the short term (yes, I am talking about you, EOS).
Funding new ICOs seems to have taken a back seat in people's priorities as many run helter-skelter into this coin or that asset to protect their investments. But there is this one lesser known token on the block, with a few days left in its ICO period (at the time of this writing), that I think has some potential. Let me clarify.
Encrypgen, a Florida-based company formed in 2016, aims to solve the problem with handling and sharing of genomic data across researchers & health care providers in a way that gives control to the people whose data it is in the first place. Why do I think this company has potential?
1. Targets a real problem with regards to accessibility and privacy of genomic data, via distributed blockchain.
2. First mover advantage in this sector.
3. Founders and other people involved seem to have previous experience with startups. They are also very responsive and open to suggestions, over at their Slack channel.
4. Already have an angel investor funding them that will last into mid-2018 before they need to use the ICO funds.
5. A conservative cap on the total funding of 1000 Bitcoins worth. The capping alone is a breath of fresh air, compared to some other ICOs we've had recently. Total 100 million DNA coins, aka Gene-Chain Coins to be issued, 80% + 5% bonus, via the ICO. Fixed supply.
6. Clear cut roadmap outlined until early 2018. They also claim to have a working beta.
7. No undue emphasis on marketing, as some other companies might try to, to cover up for lack of technical innovation.
Another thing that differentiates them is that they are using Multichain open source blockchain platform and might be the first ones using that technology to enlist on an exchange.
While I think this coin is especially good for HODLers, I feel that even if you wanted to flip them for a profit in a couple months (arrives on undisclosed exchanges come this August), you would not be disappointed, given the limited supply, the unique selling proposition and a promising roadmap.
They have recently posted this video to their website summarising the main goals of the project and features:
The ICO is up for 3 more days and they conveniently accept BTC, ETH, DASH, LTC & ETC. The confirmation that I have received upon payment informed me that my DNA tokens will be emailed to me in a custom wallet after the ICO period ends.
Disclaimer: I have taken part in this ICO with whatever I could afford to spend at this time. While I urge readers to check these guys out, I advise you to decide based on your own research and sound judgement and not just my opinion of it.
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