What is Shivom?
Shivom is offering a genomics and healthcare platform that they state is going to be able to revolutionize the market. This is a huge claim, but there is no doubt that the technology is out there even though Shivom is looking at paying particular attention to a certain aspect of the industry.
Their focus is on mapping genomes and they offer people the ability to do just that with the data being stored by the company. There is then a marketplace where apps and services can be offered that deals with the mapping aspect as well as other healthcare related products.
What they offer is rather interesting in that individuals will be able to not only retain ownership of their health data but can then effectively monetize it as and when required. This is all achieved via the blockchain with the token that is being produced by Shivom acting as the currency of choice across their platform.
The Technical Aspect.
As the technology already exists, there are no anticipated issues regarding their platform or what they are offering. Upon opening an account, from the perspective of a member of the public, their data can be uploaded to the blockchain with it being stored in a decentralized manner.
When companies seek to use the data, they can search the database for the data that fits in with their requirements. Once they have resolved this, they can then send payment to the holder of the data for it to then be used in their research or projects. This is completed by using the digital currency that runs alongside the platform, and they also make use of Smart Contracts to make sure that both parties are safe and secure with their own side of the deal.
Overall, from a technical perspective there is nothing unusual in that the platform operates as a marketplace where the data is actually the goods that are being delivered. They also simply use the security aspect that comes with the blockchain as is the norm with so many other projects that use this type of technology. Also, there is the anonymity that comes with transactions on the blockchain, which may prove to be of use to a lot of people.
How big is the market?
In their whitepaper they state that the healthcare market is estimated to be worth $8.7 trillion by the year 2020, with the genomics market expected to account for $22 billion of this figure.
One of the major concerns with this market is that it's so far completely centralized, this means that users have no idea what's being done with their data.
The Advantages of Shivom.
It is easy to identify the advantages that come with Shivom, but to understand them we need to get to grips with what they are offering. When you do this, you see that as companies can obtain the genome of the individual that it could lead to a more personalized form of medicine, which has to be seen as being a good thing.
However, it is the fact that individuals are in control of their own data that is perhaps the best thing of all. They can decide who can gain access to their data and also how much access they give to those companies. Being able to be paid for the data is just another added bonus to the entire thing and with it being carried out in a safe, secure and anonymous manner, then there really is little to worry about.
The OmiX token
The OmiX token will be the token that's used for all transactions on the platform, users will be able to use these tokens to purchase anything available on the marketplace. They'll also have the option of earning more tokens by referring new users to the platform.
The Financial Aspect and the ICO.
Even though, at the time of writing, the ICO has not yet started, there is a considerable amount of information out there that tells us what we can rightfully expect.
First, they have stated that they are willing to accept ETH, BTC and several fiat currencies which does give you a number of options. Also, they have both a soft and hard cap in place for the ICO. The hard cap has been established at 75,000 ETH while the soft cap is lower at 15,000 ETH. During the ICO component, there will be an exchange rate which has been set at 1 ETH for 7000 OMX. They are also going to release a total of 990,000,000 tokens.
Overall Conclusion About Shivom and the ICO.
The product that Shivom is offering is certainly different to what is generally out there on the blockchain, but it is just a prime example of the way in which we are now able to wrestle back control of our personal data in a way that has never been possible before the creation of the blockchain.
There are a multitude of uses for this kind of data that could be of real benefit to us, and the way in which everything can be done securely using the blockchain is also pretty impressive and should put your mind at rest. Yes, they are not offering anything different from a technical point of view when talking about the blockchain, but it is a good example of what is possible when you work out how to put the technology to its best use for you.
The team behind the project also seems to be strong with the Co founders having a lot of experience. This is always one of the most important things when selecting an ICO.
So, is this worth you investing in the project? Well, there is a market out there for this kind of data, and as people become more familiar with what is possible via the blockchain then their confidence in the entire process will also grow. However, the difficult part will be in convincing individuals to place this data on the blockchain in the first place as that may take some persuasion on the part of the company. If they can do this successfully, then there is no reason why Shivom cannot carve out its own sector of the data based market, and if it becomes clearer as to the positives that can emerge from this data, then who knows what may happen further down the line.
For more information:
Website :https://shivom.io/
Whitepaper :https://shivom.io/files/Shivom-Executive-Summary.pdf
Facebook :https://www.facebook.com/ProjectShivom
Twitter :https://twitter.com/projectshivom
Telegram :https://t.me/projectshivom
Reddit :https://www.reddit.com/r/Shivom/
Youtube :https://www.youtube.com/c/ProjectShivom
Instagram :https://www.instagram.com/projectshivom
Author : butko
My Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1154983
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