Official Press Release
Shivom, the blockchain-based genomic testing platform, closes its ICO within 15 seconds after reaching $35 million hardcap.
Munich, Germany, July 2018– Shivom, a blockchain-based platform aiming to create the world’s largest genomic data hub, reached it’s $35 million hard cap within 15 seconds of opening its main token sale. Shivom received funding from top crypto Venture Capital funds including CollinStar, Lateral, Ironside, and more. Shivom offers an integrated solution for patients and genome data donors, in which genomes can be sequenced and securely stored. The solution will also provide an open web-marketplace for other providers — such as pharmaceutical companies, research organizations, governments, patient-support groups and insurance companies — to add their apps and services, alongside genomic data analytics to drive personalized medicine.
Every one of Earth’s 7.6 billion people has a unique code held within their genes that holds the secrets to appearance, ancestry, intellectual capabilities, health, and fitness. However, this code’s potential has not been fully unlocked. First of all, a few key players hold the monopoly on genomic data, and make huge profits from selling it to 3rd parties, usually without sharing the earnings with the data donor. Donors are also not informed if and when their information is shared, nor do they have any guarantee that their data is secure from hackers. Shivom’s decentralized platform will break the monopolies on genomic data, democratizing the processes of sharing and utilizing it. Shivom’s use of blockchain technology and Smart Contracts ensures that all genomic data shared on the platform will remain absolutely anonymous and secure, while its OmiX token incentivizes users to share their data for monetary gain.
Another major obstacle in genomic data sequencing is diversity. As it stands, the majority of genomic data in public databases comes from those with the means to obtain pricey DNA kits, which makes it unavailable to many people around the world. Moreover, an overwhelming amount of the data compiled comes from Western European and North American populations. Shivom believes that accurate, comprehensive interpretation of the genome will only be possible when the biomedical community has analyzed enough genome sequences representing the full range of natural human variation. The company is therefore dedicated to bringing its technology to developing nations and typically underrepresented populations.
“Shivom is very pleased that within only 15 seconds of opening our ICO we reached our hard cap of $35 million,” Co-Founder and CSO Dr. Axel Schumacher said. ״Now that we have secured all our funding, Shivom will be able to focus on building a great platform, and fostering strong partnerships.”
Shivom aims to power the next era of genomics through blockchain technology – protecting identity, personalizing healthcare and transforming lives. A precision medicine ecosystem that will offer an open web-marketplace for other providers to add not only genomics information, but also analytics, and associated apps and services to drive personalized medicine.
Henry Ines, CEO