Shivom – Making Genomic Sequencing Data Accessible and Affordable

Shivom is creating a medical genomics ecosystem on the blockchain and will offer an open web marketplace for other healthcare providers to add their apps and services alongside genomic data analytics and personalized medicine.

The world of healthcare is changing. Two revolutionary technologies, genomics, and blockchain are poised to significantly improve health and well-being across the globe. Genomic medicine can enhance the understanding and treatment of as many as 7,000 rare diseases, alongside cancers, complex and long-term disease such as cardiovascular and neurodegenerative conditions, and infections.

Shivom is focused on the transformational convergence of OMICS technologies with blockchain, artificial intelligence, and machine learning to enable secure and personalized medicine with global scalability.

Problem Description and Solution

Most healthcare systems in the world are failing due to financial problems. Shivom’s goal is to take the pressure off the system by ensuring people have properly tailored medicine.

Previously genome sequencing was expensive, but costs are drastically reducing making sequencing more readily available. This trend can be accelerated with the help of Shivom which is able to map a person’s genome, unlocking information on diseases they are predisposed towards, and storing this information on its secure blockchain, accessible only to the individual.

We need more genomic data donors, but on the other hand, an increase would lead to issues around data ownership. This is the exact reason why we need blockchain. Dr. Schumacher has said that the platform would let individuals own and control their own data, enabling them to either sell or donate their information to research institutes and pharmaceutical companies across the world. Currently, genomic sequencing providers often sell genomic data for their own profit whilst donors aren’t compensated in any way, which is not right.

Shivom is building a platform that gives research institutes easy access to a large database of genomic data at an affordable price (cutting out expensive genomic sequencing data providers). The platform enables trust, clear data ownership, and data integrity. Shivom wants to implement complex data rights management through the use of smart contracts.

In general, genomic sequencing provides many benefits:

  • Identifying the best course of care for patients with a particular condition.
  • Prevention of disease in healthy individuals.
  • Disease diagnosis
  • Finding the most effective medicine.

How Does Shivom Work?

  1. Sign up for Shivom
  2. You receive a kit in the mail or upload your own DNA sequence.
  3. Collect your saliva and send it back. Shivom will analyze your DNA sequence
  4. Get information on your ancestry and personal health.
  5. Donate your genome to research for free or profit.

Token Use and Distribution

The OmiX token is the fuel of the Shivom ecosystem. You can do the following with the token:

  • Buy a genomic sequencing kit.
  • Sponsor sequencing projects.
  • Access the genome database (buy data to be used in research).
  • Pay donors for data or participating in a study.
  • Services providers that want to make use of the platform will use the OmiX token.

Three billion tokens will be distributed, of which, 990M tokens will be sold in the ICO. The company holds a 600M Omix company reserve. ICO funds distribution:

  • 25% – laboratories
  • 21% – partnerships and marketing
  • 20% – platform development
  • 11% – operations and business development
  • 10% – non-profit R&D
  • 6% – data storage
  • 5% – legal
  • 2% – proof of concept

Shivom’s Background

The Shivom project was founded in Germany at the beginning of 2017. The blockchain start-up is led by some of the world’s leading experts in the field. Shivom is looking for $96 million in their ICO to cover the expenditure to support the commercialization of its technology.

Shivom’s Team

Co-founder and chief executive of Shivom, Axel Schumacher, has a PhD in genetics and 20 years of experience in the field. He is the Author of the ‘Blockchain & Healthcare Strategy Guide,’ the standard compendium for the healthcare industry. Axel translates scientific discoveries into practical applications to help understand, diagnose & treat complex disorders, but also to promote cutting-edge technologies that could transform precision medicine and the way we age.

Gourish Singla has a background in investment banking and wealth management, Gourish is an accomplished business leader, angel investor and social entrepreneur with a focus on performance, growth, and innovation. He drove $30m+ revenue in his last venture into a highly competitive marketplace and has founded three successful companies in the digital health space.

Natalie Pankova is an experienced Director in 2 early stage health tech companies. Natalie is skilled in operations, business development, investor relations, and R&D. She holds a Ph.D. from the Faculty of Medicine at the University of Toronto, with a research focus on ophthalmology, inflammatory diseases, diagnostics and personalized medicine.

Pros

  • Data rights management through smart contracts
  • Trust, clear data ownership, and data integrity using the blockchain
  • Cutting out expensive genomic sequencing data providers
  • Users can sell their genomic data at an affordable price to research institutes.
  • A strong team with a lot of experience in the field.

Cons

  • No product/prototype developed yet although the roadmap claims to release a beta version of their platform in Q1/Q2 of 2018.
  • Very high cap, although we agree this is an expensive medical service.
  • No partnerships yet as we believe this is crucial to have the support of the medical world.

The Bottom Line

It’s great to see the medical world advance to blockchain solutions. In our opinion, this is a very promising ICO as it can save people’s lives. This project cuts out expensive genomic service providers and allows people control of their genomic data. People can also decide whether they want to donate their genomic data for free or for a small payment to a research institute. The team looks very promising as they are very knowledgeable on genomic data with a couple of Ph.D.s in this field.

Other Details

Telegram: https://t.me/projshivom (54000+ members)

Twitter: https://twitter.com/projectshivom

LinkedIn: https://www.linkedin.com/company/project-shivom/

Medium: https://medium.com/@projectshivom

No dates listed for ICO yet

No price listed for the token (OmiX)

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Wall Street Bank Morgan Stanley Likens Bitcoin to Dotcom Bust

Morgan Stanley Bitcoin Futures
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Morgan Stanley compared an accelerated timeline for bitcoin’s performance to the dotcom era. Sheena Shah, a Morgan Stanley market strategist, in a research report cited in CNBC, painted a potentially grim picture for the future of bitcoin, finding similarities in the price performance and volume levels with the tech-laden Nasdaq at the turn of the century. At one of its lowest times, the bursting of the tech bubble saw companies losing between $10 million and $30 million on a quarterly basis.

For bitcoin, however, it’s all unfolding in a flash.

 “Bitcoin price weakness has similarities to the Nasdaq in 2000, just occuring at around 15 times the speed,” said Shah.

For instance, Shah looked to market rallies, where both the Nasdaq and bitcoin advanced between 250% and 280% during their peaks foreshadowing declines. There were similar trends in trading volume between the index and the BTC price.

The following is an illustration from the Morgan Stanley report that was subsequently Tweeted by a WSJ reporter. While the time periods are different, with the Nasdaq’s plight unfolding over nearly a decade through 2002 and bitcoin’s activity reflecting a year, the chart appears to prove a pattern. If it’s a harbinger of things to come, the BTC price has not yet reached a floor.

Not so fast, other says, pointing to cracks in the analysis –

Bitcoin Bear Markets

The Morgan Stanley strategist, meanwhile, pointed to four bear markets that bitcoin has endured since its debut in 2009, each of which lasted for an average of five months. During those pullbacks, the price has dropped anywhere from approximately 30% to more than 90% at its worst.

The most recent declines have seen the bitcoin price tumble some 70% from its highs of nearly $20,000 at year-end 2017 to less than $7,300 in recent days. And if history repeats itself, the current bear market could have another couple of months to go.

That places the average decline in the bitcoin price at between 45% and 50% compared to an average 44% drop in the Nasdaq throughout its five bear markets during the tech boom, Shah said.

In addition to price, the Morgan Stanley strategist also compared trading volume, where there were similarities but also some divergences between bitcoin and the Nasdaq.

“The follow-up rally for both bitcoin and the Nasdaq always saw falling trading volumes. Rising trade volumes are thus not an indication of more investor activity but instead a rush to get out,” noted Shah.

As for the differences in trading volume, Shah concludes they could be “interesting.”

In December 2017, they released a report on “Bitcoin Decrypted.” In the report, they highlighted the risks associated with bitcoin investing, ranging from a lack of deposit insurance to the absence of regulation.

Featured image from Shutterstock.

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President Trump Bans US Citizens from Buying Venezuela’s Petro

· March 19, 2018 · 4:00 pm

The Venezuelan Petro’s alleged astronomical success could be under threat as US President Trump puts plans in process to prohibit American citizens from purchasing the digital currency.


It seems as if President Trump has thrown a cog in the apparent billion-dollar machine that is Venezuela’s Petro. According to Bloomberg, the US president issued a prohibition order on Monday banning the country’s citizens from going anywhere near the South American country’s first state-issued virtual currency.

To reinforce this, Trump has ordered Treasury Secretary Steven Mnuchin to issue any regulations required to enforce this ban.

The Role of the Petro

Venezuelan President Nicolás Maduro developed the Petro, which can be purchased through US dollars and euros, as a way to combat the country’s hyperinflation, which is expected to reach 13,000% in 2018. It is also being used as a way to circumvent US-imposed financial sanctions.

The latter, issued in August 2017, forbids Venezuela from borrowing any more money from the US, making refinancing its existing mountain of debt just about impossible. Even though the South American country is rich in natural resources, such as the crude oil used to back the Petro, it is poor in nearly everything else, which has resulted in its population suffering drastic food and medical supply shortages. The US imposed these sanctions in response to the deplorable humanitarian conditions in the country.

The Role of the Petro

It’s a Hard No From the US

The US made its Petro feelings clear in January this year, referring to it as “another attempt to prop up the Maduro regime, while further looting the resources of the Venezuelan people.”

US Vice President Mike Pence will also add his commentary to the situation during a speech on Wednesday at a session of the Organization of American States. Pence’s spokeswoman, Alyssa Farah, explained:

The Vice President will call on all members to increase pressure on the Maduro regime to restore the country’s democracy and address the humanitarian crisis unfolding in Venezuela.

Trump will be in Lima next month for the Summit of the Americas, where it is more than likely that he and his administration will discuss their plans for the Venezuelan government.

It’s a Hard No From the US

Possible Consequences

Russ Dallen, who is the Managing Director of Caracas Capital Market, an investment bank with offices in Venezuela, had this to say:

“It’s a pretty big blow. Since most cryptocurrencies are not actually backed by anything real, cryptocurrency speculation is based on the greater fool theory – I can buy this at $100 because there is someone who is a bigger idiot who is going to buy it at $200. When you take the US out of that equation, you reduce the interest and potential for that speculation.”

What effect do you think Trump’s ban will have on the Petro, and subsequently, on the Venezuelan government? Let us know in the comments below!


Images courtesy of Wikimedia Commons, Bloomberg, Flickr/Gage Skidmore

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