Shivom: OMX Token For Genomic DNA Data Donors Project?
Shivom’s Plan To Revolutionize Genetic Data Handling
The blockchain technology is currently the leading technology regarding solving our privacy issues. The ability to deliver secure transactions without intermediaries is proving useful in many industries including real estate, finance, health and now genomics. It is evident that already several wellness companies are betting on the need for genomic data and investing in genomic data venture to meet the growth.
Shivom is one such venture that intends to utilize the securitization of data within blockchain technology to empower a new era of genomics. The healthcare platform will allow for a genomic ecosystem where users will have an open web marketplace for personalized medicine, genomic data analytics, and health services applications.
The team behind the project envision a transformational convergence of the OMICS technologies with AI, machine learning techniques, and blockchain to allow for the global scalability in healthcare.
What Shivom Aims To Solve
- The expensive procedure of genome sequencing
- Lack of data ownership, integrity and sharing capabilities
- The sale of genomic data by third-party genomic sequencing providers.
- Lacks doctor-patient confidentiality
- No compensation measure for patients regarding the use of their data by health institutions and researchers.
To achieve its goal of a universal database for DNA sequences, Shivom will utilize the blockchain technology to create a genuine, and autonomous ecosystem. With this ideology, Shivom will protect the sensitive genomic data which is yet to happen with our traditional databases. As such, the healthcare sector is set to enjoy a set of benefits that come with overcoming the challenge of a safe system. These will include;
- Easier access and storage of the genome data in one place
- Better management and control of how the information is accessed
- Health researchers can use the information to find lifestyle information
- The potential to identify health conditions before they become serious
- Enables the user to get value for their data through tokenization and smart contracts
Although the Shivom platform would sound all too interesting, all the concepts are just on papers, and there is nothing that goes to show for the venture. No proof of concept of product development is taking place and the only indication is a release set to take place in the Q2 of 2018.
Additionally, their partnerships announcement is somewhat falsified since there is little evidence to reveal any partnerships company claiming to be working with Shivom. Public searches also do not show any associations involving the blockchain ventures.
Another point of concern is the claim to work in conjunction with governments to get the whole population genetically sequenced. For starters, that is a rather ambitious project with regards to the government regulation facing the use of blockchain. The numbers also seem too high regarding tokens and could dilute the value after the ICO.
Is It Wise To Invest in Shivom?
Judging from the negative point I have raised, the project does not sound of investment quality. However, the overall concept of the platform is unique, and the venture could face a revisit if the inefficiencies get the adequate solutions.
In conclusion for this stage, there is not enough information regarding the Shivom project. There is little information on the part of their operations and supposed partnerships or advisors. As such, I would not recommend on putting your investment in such a project.