Shivom is an ambitious genomics project that is partnering with global institutions and governments to create the world’s largest genomic database.
Shivom, a genomics startup, will use Blockchain technology to create an ecosystem that links individuals and medical institutions. Individuals storing their DNA data with Shivom will retain full control of their data and can sell it to institutions in exchange for payment in Shivom’s OMX token. Research institutions and healthcare facilities will have access to a rich database of DNA data that can be used for effective medical research and drug development for common diseases such as Alzheimer’s, diabetes and cancer.
Shivom has successfully concluded its ICO in May 2018 and will now focus on developing its platform and partnering with medical centers, pharmaceutical companies and other medical institutions. Partnerships will be essential to Shivom’s success since they need these partnerships to collect the large number of DNA samples that will power their ecosystem. They are already off to a good start, having partnered with the local government in India’s Andra Pradesh state to sequence the DNA of 60 million residents.
Shivom boasts certain competitive advantages over non-blockchain competitors since it offers an ecosystem with a wider range of products and services. However, the combination of genomics and blockchain are untested waters for companies for companies like Shivom and the execution of their roadmap will be a key to their success.
Company name: Shivom https://shivom.io
Ticker symbol: OMX
Token standard: ERC20 Utility Token
Category: Healthcare, genomics
Exchange(s) listing the token: KuCoin https://www.kucoin.com
Total token supply: 3 billion tokens
By studying DNA, scientists have the potential to tackle every disease known to mankind. However, existing genomic databases don’t represent most ethnic groups, leading to billions of dollars being wasted on ineffective medical treatments. Meanwhile, genetic testing companies currently make huge profits from the information stored inside patients’ genetic code.
Shivom aims to solve these problems by developing the world’s largest genomic data hub where contributors can own, store and share their genomic data. Powered by state-of-the-art genomic and blockchain technologies, Shivom’s platform will securely store personal genome sequence data and connect users with other providers and stakeholders (individuals, research institutions, governments, healthcare providers, insurance companies, etc.) over a blockchain engineered ecosystem.
Shivom is dedicated to delivering genomics solutions to low-income and underserved countries, allowing everyone to own, manage and monetize their genomic data stored in a secure, decentralized database. The shared genomic information will help the world achieve precision medicine, a medical model that tailors treatment on an individual basis. Users of the platform will have access to specific health information, which will help guide medical decisions. In addition, research institutions will be encouraged to participate in the platform to gain the access to the wealth of medical resources.
In order to create a genomic database, Shivom will cooperate with partner labs globally to provide DNA test kits. Participants or physicians will be able to order a DNA collection kit that can be mailed to customers worldwide. Customers provide saliva samples and send the sample back to Shivom. Shivom will then notify customers when their DNA report and raw data is available in their secure account. Shivom plans to collaborate with hospitals, doctors, and government agencies worldwide to make it easy for people to provide their DNA data.
In 2018, Shivom partnered with the government of Andhra Pradesh, the eight largest state in India, to sequence and store 60 million residents’ DNA using blockchain technology by 2025.
Shivom is operated by OmiX Ventures Ltd, a company registered in the Isle of Man.
Shivom’s team is currently composed of 30 members and has offices in the United Kingdom, Germany, India, and the United States.
What problems are being solved?
The healthcare and genomics industry is rife with problems related to securing patient and donor data. First, there is a lack of transparency since personal health data is controlled by untrusted third-party organizations. Second, donors’ private data is being sold to for-profit organizations without donors’ agreement. Third, large institutions are taking advantage of their large market share of the healthcare industry and making millions of dollars from donors’ data. Finally, although there is a lot of genetic data out there many minorities and demographics are under-represented. This lack of data translates higher costs of healthcare research and drug development, which is ultimately passed on to patients.
Shivom plans to address these problems by using Blockchain technology to secure donors’ genomic data in a decentralized environment. Shivom plans to give patients complete control of their own data and incentivize donors for sharing their genomic data with research institutions. Shivom will also create an application marketplace to share genomic data between contributors and research institutions at reduced costs. By creating a robust and growing genomic data repository, Shivom’s solution may reduce the cost of healthcare by giving doctors and medical researchers more information to work with.
Why Blockchain technology?
The main challenge in the healthcare industry relates to leakage of sensitive personal data and healthcare records due to poor security practices and system protocols. Lack of security and incentives are discouraging donors from sharing valuable genomic data that can be used for research purposes to cure fatal diseases.
Shivom plans to leverage Blockchain technology to solve this issue. Blockchains offers superior security and privacy since cryptography used to store sensitive health data. Genomic data will be encrypted using public keys and stored on the blockchain. However, only authorized counterparties with the correct private keys may decrypt the data. As a result, sensitive information is only available to authorized users.
Shivom envisions developing a highly secured and transparent healthcare services platform. Platform contents will be secure and auditable, and all contributors can trust the validity of the data. Smart contracts will be used to conduct exchanges of products/services on the platform. In addition, Shivom’s platform is flexible. Siloed data from a centralized database can be aggregated into its ecosystem, resulting in more efficient drug discovery and R&D activities.
Shivom has a diversified revenue generation base that includes the following activities:
- Operating a B2B and B2C platform: charging small transaction fees for genomic sequencing services and delivering analytical products and insights.
- Providing in-market applications: charging service fees for purchasing external apps on the platform and charging fees for the platform’s incentivized preventive health program that encourages participation in a public health research project.
- Creating a flexible ecosystem: Integrating siloed platforms and databases into Shivom’s platform and introducing a new token-based platform in the future.
- Undertaking research and development: establishing a scalable open source R&D institution and developing effective, inexpensive, and secure precision medicine therapeutics.
- Providing Big Data & Artificial Intelligence-driven solutions: using large datasets to analyze and produce optimal healthcare solutions and undertaking complex genomic studies that require large data sets.
Market analysis and competitive advantage
The genomic and healthcare markets are projected to grow to USD 8.7 Trillion by 2020. Both pharmaceutical and research institutions are leveraging resources in developing sequencing technology and strengthening data analysis.
Considering the growth potential of the healthcare industry, Shivom is well positioned in its target market. Some of their direct competitors that specialize in genomic sequencing include 23andMe, Ancestry.com, Illumina, and Helix. However, none of these competitors are developing an ecosystem model now and only offer part of Shivom’s product & service catalog. For example, 23andMe has sequenced 1 million customers. Shivom’s first project will sequence 60 million residents in one Indian state alone. In general, using blockchain technology will allow Shivom to work in multiple countries simultaneously.
Through Shivom, individuals will be able to get their DNA sequenced, stored on a secure Blockchain and monetize their data using Shivom’s incentive structure. In fact, Shivom sees many of these competitors as potential partners who can link interface with Shivom’s ecosystem to offer their own services.
Tokenomics and use cases
The increase in usability and functionality of Shivom’s platform leads to the price increase of the OMX token. OMX is a utility token used as means of payment on the platform and to incentivize users. In addition, Shivom is constantly growing their partner network in terms of individuals and healthcare providers. To meet the needs of the growing community, Shivom expects the substantial and rapid adoption of their technology. As the token value is associated with its utility in the platform, the usability of the tokens will continue to grow. In short, the more users contribute, the more the platform will grow since its utility will increase at exponential speeds due to network effects.
OMX tokens can be used by both individual users of Shivom’s services as well as organizations.
Examples of potential token use by individuals:
- Buy genome sequencing kits to get your genome sequenced
- Obtain your ancestry or genealogy profile
- Get access to 3rd party fitness and health apps
- Get a personalized lifestyle, diet, and nutraceutical advice
Examples of potential token use by organizations:
- Gain access to the genome database and analytics
- Upload sequences to the ecosystem
- Find participants for research projects
- Store the proprietary DNA sequences for tamper-proof IP protection
Shivom is headed by a team with a wealth of experience in genomics, research and development and entrepreneurship.
Dr. Axel Schumacher
Co-founder & CEO
Dr. Schumacher has over 20 years of Research and Development leadership experience in genomics, epigenetics, biomarker discovery, Bio-IT, aging & longevity. 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. Axel is also a Member of the Blockchain Research Institute in Toronto. He holds a Ph.D. in Human Genetics from the University of Cologne.
Mr. Gourish Singla
Co-founder & COO
With 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 over USD 30 million in revenue in his last venture in a highly competitive marketplace and has founded three successful companies in the digital health space.
Ms. Sally Eaves
Co-founder & CMO
Sally combines a depth of experience as a Chief Technology Officer, Practicing Professor of FinTech and Global Strategic Advisor, consulting on the application of disruptive technologies for both business and societal benefits. She is an award-winning thought leader in innovation, digital transformation and emergent technology, notably blockchain, artificial intelligence, machine learning, and robotics. A member of the Forbes Technology Council, Sally is an accomplished author with regular contributions to leading business, technology, and academic publications.
Mr. Henry Ines
Chief Innovation Officer
Henry is a global executive with extensive venture capital, cross-border advisory, corporate finance and entrepreneur experiences. As an investor, he focuses on FinTech/blockchain and frontier technology investments and ventures based on his collective VC experiences to date as a partner at DraperDragon Fund, DFJ Dragon Fund, and DragonVenture, Inc. Henry is also an advisor to multiple blockchain / ICOs and tech startups in Silicon Valley.
Mr. Akash Gaurav
Co-founder & CTO
Akash is a blockchain entrepreneur. He founded India’s first blockchain company, Auxesis Group during his undergraduate studies at IIT Bombay. Auxesis today is counted among The Top 100 Most Influential Blockchain Company in the World. Akash also founded Blockchain Lab, India and is on the advisory board of hot Blockchain startup Cashaa, a zero fee money remittance company. He also sits on an advisory board to Entrepreneurship Club of MISB Bocconi.
Dr. Natalie Pankova
Chief Scientific Officer
As 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.
A full list of members and advisors can be found at https://shivom.io/.
Shivom employs 8 in-house developers and has also partnered with Auxesis, a top 100 Blockchain developer firm. Auxesis has a team of approximately 60 developers and are the only company other than Hyperledger to partner with IBM for their downloadable platform solution.
Details valid as of May 2018 (end of ICO)
- Conceptualization of Healthcare Ecosystem.
- Seed investment of USD 250K raised.
- Whitepaper published.
- Shivom foundation established.
- Foundation director and first steering committee members on board.
- Partnership with medical centers. Collaboration with the first of many large clinical centers.
- Project Gaia started.
- Sequencing project in rural India started.
- Platform alpha release.
- Partnership major data analytics firm. Co-development to connect Shivom platform with state-of-the-art data analytics pipeline.
- Pharma partners on board.
- Collaboration with the Top-25 pharmaceutical company.
- ICO successfully concluded
- Web marketplace open.
- The worldwide rollout of Shivom platform.
- Formation of R&D unit.
- The official start of the global non-profit pharmaceutical spin-off.
- Shivom services are available on a global scale on all continents.
- First rare-disease subset.
- Sets of large groups of people sequenced with a rare disease.
- First genomics service unit opens.
- First genomics counseling service unit opens.
Q4 2018 – Q1 2019
- Multi-omics integration.
- AI platform.
- Implementation of artificial intelligence deep learning platform.
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