Here’s our latest review, this time about Project Shivom (https://shivom.io/), a highly promising, pioneer project that aims to revolutionize the health care industry, mainly genomics!
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Shivom has a solution that can change the whole global health care! Shivom offers the first ever integrated solution for patients and genome data donors where everybody will be able to have their genome sequenced and securely stored. This ecosystem will provide an open web-marketplace for other providers such as pharmaceuticals, research organizations, governments, patient-support groups and insurance companies to add their apps and services, alongside genomic data analytics and personalized medicine.
But let’s review Shivom from a closer perspective! DNA sequencing is the process when important information is getting extracted from one’s DNA in order to specify, predict and anticipate possible diseases. No need to explain why it is so important: with this information, we can get a clear picture about our health condition, our potential diseases may come up in the future, can identify the best course of care for patients with a particular condition and new drug targets. Having these information means that we can prevent future diseases, and researchers can develop drugs and other medicine in order to treat the problem.
The interdisciplinary study of DNA is called genomics that provides information about ancestry, susceptible diseases, potential drug treatments, opportunities for precision medicine and new drug development.
1.)Problems:
That is an existing scientific process, not lots, but more and more companies deal with this field. But there are several problems of this that hasn’t been addressed so far. And that’s the space where Shivom has a role to play! Shivom offers a solution for every problems that we summarize in the below:
• DNA sequencing is an expensive process for individuals, they are not incentivized in any way to do that. Clearly, people need to pay twice if participate in this whole process: first, you need to pay for analyzing your DNA and second, for the drugs, treatments etc. you may get based on the analysis.
• There are many privacy issues. Donors give their DNA to big research and pharmaceutical companies and after that they don’t know anything about what happen to their data, nor will they be paid for their contribution while companies can easily make money of people’s data. Privacy issues are becoming more important in the light of EU’s GDPR taking effect in May 2018 and not just from the side of individuals, but also the companies. Note: Shivom is fully compliant with new EU data privacy regulations, providing a major competitive advantage!
• Because of these problems, genomics and DNA sequencing are not able to reach its full potential to improve global healthcare!
Shivom has a complex, comprehensive solution for these problems by “creating the largest genomic data-hub on the planet where donors own their genomic data, the right access to it, the opportunity to share or sell it” while it can guarantee the 100% security with using blockchain.
2.)Actors in Shivom ecosystem
A. Individual people, donors
Take a closer look at the advantages of Shivom’s ecosystem. With Shivom, donors get money for their data, and only they have the right to decide whom they give their DNA’s information. So, unlike the existing solutions, in Shivom’s vision people are incentivized to give their data to researchers and big companies in a secure way. “Shivom users have full and fine-grained control of who can access the data even after a third party institution has had access to it. Individual genetic data will empower consumers and enable them to make better health and lifestyle choices for themselves.”
With using Shivom donors
• get rewards for their DNA information,
• can get a comprehensive picture about their health conditions,
• can specify ancestry and predict and anticipate potential diseases (diabetes, Alzheimer’s, cancer etc.)
• can get personalized drug treatment or encourage the researchers to develop new, targeted drugs,
• can store their genetic data safely,
• are guaranteed that their personal information is secured.
B. Doctors and researchers
Now, let’s have an insight from the perspective of researchers and doctors. Shivom builds a complex ecosystem that has a lot of advantages for several actors in the industry. Shivom’s platform helps doctors and researchers to optimize drug development, explore new medical treatment.
C. R&D companies
Shivom also works as a single largest repository of genomic data that is unique and helps R&D companies find the best medicines, drug treatments. “The data will not be owned by any company, and the Shivom platform will facilitate pharmaceutical companies’ use of the data by providing attractive rewards and a market access model that directly engages with data owners. The model will allow access to study and control patients through an app marketplace for phenotypic screening and more.”
D. Partners in the health care industry
Shivom’s platform allows companies to offer their services (fitness apps, menu providers, wellness etc.) for the
patients/donors based on your DNA profile.
3.)The OMIX token, revenue model
The Omix token (OMX) is a key component of the platform. For example, researchers pay donors with OMX, customers pay Shivom with OMX, and users also pay with OMX for apps and personalized services like advising etc.
Shivom’s source of revenue consists the below:
• Sale of OMIX’s tokens to pharma, research companies and other stakeholders that are interested in collecting genomic and health care data with the aim of researching and drug development.
• People can upload their existing DNA profile to Shivom platform, but if you haven’t got your DNA profile at disposal, you can buy this service on the Shivom marketplace.
4.)Partnerships, community
Shivom is a very promising project with a lot of huge existing partnerships and global network. Shivom is already in partnership with the government of Andhra Pradesh and in talks with the government of Basel and Dubai; they have also partnered with HitBTC and Bancor, Jaxx and Coinomi. They are in partnership with GTG labs - a NASDAQ listed company which has spent around 100m USD till date in research and along with Shivom going to be launching a new kind of snip which hasn't been made before in the world. This has already been announced on both NASDAQ and ASX. Former Prime Minister of Estonia, Taavi Rõivas is a member of their Innovation Council.
Thanks to the partnership with the government of Andhra Pradesh, Shivom may have access to nearly 60 million people with the aim of sequencing. But as kratostribe on Steemit states it would cost 6 billion dollars given the fact that sequencing costs approx. 100USD / person and that is a big amount. Shivom’s main competitor, 23andMe have 1 million people sequenced.
Shivom has a 70k member Telegram and a 47k Twitter community which is huge!
6.)Team
No need a detailed review, everyone who devotes a little time to that, can see that Shivom’s members know well what they are doing. Top 100 blockchain influencers, genomics experts with 15+ years’ experience, Silicon Valley venture partners and tech advisors.
7.)Roadmap, state of product development
Releasing Shivom’s proof-of-concept product and ‘Shivom Foundation’ are expected by Q2 2018. Q3 aims to see on one hand the web marketplace, on the other partnerships with major data analytic and pharma companies. The long term goal hopes to see the launch of the Shivom AI/deep learning platform by 2019. Short term, the most important milestone is deploying of the first viable sequencing project, the proof of concept that is expected in Q2 2018.
Roadmap is clear, we can see a done, working product by Q1 2019 if everything goes well.
8.)Token metrics
• Soft cap: 15.000 ETH
• Hard cap: 75.000 ETH
• Price: 7.000 OMX / ETH
• Pre-sale: 16th April – 22nd April
• Public sale: There is no official announcement yet
Token distribution
• 3 billion tokens to be distributed
• 90M OmiX to the community
• 420M OmiX to founders
• 300M OmiX to advisors
• 600M OmiX for Incentivizing Growth Pool
• 600M OmiX to Company Reserve
9.)Core strengths of Shivom summarized
• Unique solution regarding data security, and it is GDPR compliant!
• Individuals get rewards for sharing your genomic data
• Its main competitors, 23andMe and Ancestry.com do not provide this scale of security, do not pay donors (FYI: 3andMe valued $1.5B, Ancestry.com $2.6B!!!)
• Shivom’s platform offers advantages for every relevant actor of the health care industry
• Huge market, rapidly growing segment, clear vision.
• Huge existing partnership, and a lot of in progress.
• Committed team to make change globally in the health condition of people, especially in the less developed regions
10.)Weak points
At this point of development, we’ve found only one problem in this project. It is a legit question whether people are strive to share their DNA’s information with others. I don’t know what you’ve experienced in this, but personally I don’t know a single people that wanted to do it. However, it is important to stress that research shows the biggest barrier for people considering passing on their genomic data is the security issues, the problem that Shivom’s solution fully addresses! Anyway, to date about 10 million people in total have had some sort of sequencing done. And the technology is also improving rapidly and becoming faster and cheaper. The view from some professionals in the field is that in the next 20 years or so approx. 90% of the population will be sequenced.
And from a perspective of investments, it’s not the best that there are 990 million tokens available for ICO, 600M are allocated for ‘incentives’ and another 600M for ‘company reserves’. These numbers seem too high and the incentives will dilute the value of the tokens sold during ICO.
11.)Summary
Shivom’s vision is clear, the concept is totally okay, the problem is real and the solution is more than professional and unique at the same time. Huge potential and opportunities lies in this industry, the market is huge and Shivom’s ecosystem makes every relevant and big actor of health care industry (from fitness apps, doctors and researchers, through big pharmaceutical companies and governments to R&D companies and individual people) interested in success of Shivom and in the cooperation. Technologically, this is one the first projects that uses blockchain in health care, especially in genomics!
The success of Shivom’s project depends among others on the partnerships they can make in the industry and of course the individuals’ intention to share their DNA profile. It’s not an easy thing, but Shivom’s already existing partnerships (such as governments, pharma companies etc.) and the talks in progress are promising.
I don’t want to write it, because it must be obvious by now, but this project is totally trustworthy, these people are very committed to make a change in global health care industry, especially in the less developed region. The core team has the relevant experience, advisors and council members are trustworthy, acknowledged professionals.
Based on this review, we rate Shivom 9/10!
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This is a review from Project Shivom, not a financial, nor an investment advice! If you want to invest in projects, never forget to do your own research!
