The blockchain is one of the most revolutionary technologies of the recent times and the integration of the blockchain technology in healthcare is undoubtedly one of the most beneficial applications of the technology. There is a new player in the healthcare industry and it is called Shivom.
Shivom
Shivom is developing a global blockchain based medical genomics and data hub. The hub will feature artificial intelligence, genomic DNA sequencing and cryptography to secure and personalized medicine. The mission of Shivom is to provide an open web marketplace for other healthcare providers to add their apps and services alongside genomic data analytics and personalised medicine. Shivom essentially puts the patients in charge of their medical records. The platform also provides a stream of income for these patients as they can choose to monetize their medical information, as they have total control over the distribution of their information. The blockchain provides a decentralized, trustless and secure platform for donors who wish to trade personal data as well as easily accessible and affordable database for donors’ genome sequencing and storage. In addition, the technology also facilitates the management of complex data while simultaneously fixing issues related to data ownership, data integrity, user authentication.
Shivom Tokens
Shivom Tokens – the ‘global genomics token’ represented by OmiX is a unique token specifically created for the Shivom project. OmiX Tokens will be used to facilitate all transactions on the platform. The usability of the token is open for all users including research organisations, app providers, pharmaceutical companies etc. The token will enable token holders to carry out in-app transactions including purchasing a genomic sequencing kit, accessing health apps etc. On the other hand, the users can also be rewarded for their actions in OmiX tokens for their participation on the platform for activities like the contribution of personal genomic data, updating the health and fitness information, partaking in in-app research exercises and so on.
ICO of OmiX
For the ICO of the OmiX token, the Shivom team created a total issuance amount of 3 billion OmiX. The drawn out distribution pattern for the OmiX coins is as follows;
- 990 Million OmiX – ICO
- 600 Million OmiX – Incentivizing the Growth Pool
- 600 Million OmiX – Company Reserve
- 420 Million OmiX – Founders
- 300 Million OmiX – Advisors
- 90 Million OmiX – Community
The platform conducted a private sale which ran for a week, from the 9th of April to the 16th of April 2018. The pre sale ICO kicked off immediately after the completion of the private sale and is currently on. The pre sale started at 6pm GMT on the 16th of April 2018 and is set to end on April 22nd 2018, running for a week, just like the private sale. Accepted currencies in the token sale are digital currencies – bitcoin and Ethereum and fiat currency – dollars.
There is a minimum purchase limit of 1 ETH for the pre-sale, a bonus system is in place for investors in this level, however, the percentage token bonus is dependent on the time of investment. The token price is set at 7,000 OmiX to 1 ETH with the hard cap and soft cap fixed at 75,000 ETH and 20,000 ETH respectively. There is a referral bonus program in place to reward users for every successful referral that ended in a purchase. The program is in a 3 tier system but the basic level starts out with a 5% token bonus on referrals.
The main crowd sale is expected to commence on the completion of the presale, however, quite unusually, no details have been released concerning the public sale. The investors are required to set up a special OmiX wallet through which they will access various services on Shivom. Concerning the funds the ICO is expected to generate, the distribution pattern is as follows;
- Laboratories – 25%
- Marketing and forming partnerships – 21%
- Platform development – 20%
- Operations and business development – 11%
- Non-profit R&D platform – 10%
- Data Storage – 6%
- Legal – 5%
- Initial Proof of Concept – 2%
Shivom Team
The development team in place for the Shivom project have gathered enough collective experience to make a success of it. The project was jointly founded by Dr Axel Schumacher – CEO, Gourish Singla – COO, Sally Eaves – CMO, Per Lind – CSO and Akash Gaurav – CTO. The team comprises members with relevant experience in the medical industry and blockchain development.
Conclusion
In essence, Shivom wants to establish itself as the backbone of the blockchain ecosystem in the healthcare industry. The platform will provide a whole marketplace for which the OmiX token will be used for all transactions. Shivom is set to partner with major data and analytics firm sometime in the second quarter of the year. You can check out their website found online at https://shivom.io/ for updates and announcements.
