SHIVOM-the future of genomics on the blockchain
Shivom project is a decentralized platform designed to create a global ecosystem, including the network of laboratories and research centers, consultants on genetics and non-profit research organization that seeks to "serve the country, not covered by the service, and to provide technology and targeted sequencing of genomic health care."
Investing in healthcare contributes to the maintenance and development of social stability in the country. It also contributes to the creation of new jobs, the emergence of new technological innovations, and also improves the overall economic performance of the country.
According to this report, the healthcare sector has shown more active growth compared to the overall economy over the past 15 years, and this trend is still there.
One of the fastest growing current trends is called precision or "precise" medicine. For precision medicine, the main goal is to identify the most effective medicines for each patient individually. This is due to the genetic, ecological and biological factors of the disease.
Pharmacogenomics studies how people with different genes react to various medicinal preparations. This is an aspect of precision medicine.
According to the report Research and Markets, the global market of genomics will increase by 10.2% from 2017 to 2022, reaching 23.88 billion. Dollars. The growth of genomics market is a result of the growing demand for research in the field of genomics, the increase in the number of start-ups that use genomic sequencing in diagnosis, personalized medicine. Another important reason is the increase in investments, grants and public funds.
Based on another report from Research and Markets, one can say that precision medicine will allow an individual approach to treatment. This kind of medicine will continue to evolve, uniting the work of researchers, suppliers and patients. For example, using this approach, scientists have made great strides in the field of cancer treatment. Patients diagnosed with cancer in 2004 had only a 10% chance of receiving appropriate treatment compared with the current chance of 70-80%; this was made possible through the use of genetically targeted drugs.
Summarizing, there is an obvious increase in investments in precision medicine.
China, like the US, is developing this sphere at the governmental level. Another confirmation of the growing interest in the industry is that technology giants such as Amazon and the Google, fall within the pharmaceutical and biotechnology, because they believe that these areas attractive for investment. According to reports by StartUp Health and Rock Health, investments in digital medicine are an average increase of 9% per year.
plans to take a leading position in these areas, using the technology of blockchain. This project aims to reduce the cost of such services, to expand the geographic presence, provide access to information technology for the wider population (patients, pharmaceutical companies, doctors and scientists) and combine all available database of human genetics through smart contracts.
The use of blockchain technology for working with genomes will give a new impetus to the development of precision medicine, accelerate the exchange of data and make the process more transparent.
Pharmaceutical companies that spend billions on medical research and development will have access to data; doctors will be able to get more detailed information about the state of health of their patients.
According to the information provided in the documentation, the project's founders state a number of functional advantages. These advantages will distinguish the Shivom project in comparison with other products on the market, namely:
- readiness and compliance with EU requirements for GDP (general data protection rules come into force on May 25, 2018);
- obtaining more data by attracting users and subsidizing this stage;
- assigning to each genome a unique identifier that will be introduced into the blockchain system (this will offer the possibility of avoiding duplication of existing results and re-analysis of data);
- access to the markets of developing countries and countries with low income and a business model based on the blockchain, will allow the project to receive leadership and trust of their end users.
According to the information contained in White paper, OmiX (OMX) is a token of the Ethereum network blockchain utility, based on the ERC20. It is designed to buy goods and services on the platform and is used as a means to reward participants for various activities such as:
- participation in research and research;
- creating articles, reviews and video content;
- attracting other users to the platform;
- filling in medical forms, etc.
According to the documentation, Shivom platform will provide its services in different countries. Platform participants will be able to make fast and reliable payments from anywhere in the world. The OmiX Token provides an opportunity that justifies its use in the ecosystem.
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