Blockchain meets Genetics

INTRO

The exciting and fast growing field of blockchain technology is presenting many potential use cases that have major implications for the future of our world. We have tirelessly discussed blockchain use cases involving currency, financial tech, and smart contracts, but I present to you a use case that involves the world of healthcare, big data, and privacy.


INFO

Encrypgen Incorporated is a startup that aims to create a network that allows individuals to securely store their genomic information and monetize access to that information. This service is built upon a private blockchain that allows institutions such as pharma and university researchers to purchase nodes and offer individuals DNA tokens in exchange for access to parts or the entirety of their genomic data. It also allows the individuals to more easily share that data with their doctor. Something that will become the norm very soon. Like all blockchains, the gene-chain requires a token to maintain a ledger. Encrypgen also determined that the use of a token in place of fiat currency will allow for an easier means of payment between parties in different jurisdictions to avoid the complications that use of dozens of different fiat currencies presents.


SOLUTION

Encrypgen's gene-chain solves a problem that will soon become more evident to the public-- how to securely store and share one's genomic information. It also solves many problems that researchers face when they attempt to obtain people's genomic information-- privacy regulations, expense of seeking out people with specific characteristics, and public backlash from data breaches.


SPECULATION

So what does this have to do with your finances? Well, like most cryptos, you can speculate on this particular token's future increased use by buying it. Unlike most cryptos out there, this project hasn't been over inflated with hype. Most of the crypto-community doesn't even know about it yet. That is likely to change soon.

MEDIA and MARKETING

Unlike most crypto companies, Encrypgen has focused on obtaining partnerships, clients, and developing their product before spending resources on marketing. Now that the gene-chain application will soon be released next Monday, Encrypgen is beginning to focus on public marketing. Some examples of marketing already conducted and soon to be released include a prominent booth and presentation at the Forum of Genomics in London, several interviews on major television networks, and articles on numerous news and blog sites.

TOKEN'S VALUE

If you are having a hard time imagining how this token will have any value allow me to give you an idea. A genetic research company Genetech paid 23andMe sixty million dollars for access to 2,000 customer's genetic data. That's $30,000 per person. Obviously not everyone's genetic data will be worth that, but it gives you an idea of what genetics companies are willing to give for access to this data. As genetic data becomes more relevant and cheaper to sequence we will only see interests in access to the data increase exponentially. What many people don't realize about the fast growing company 23andMe is that their true business model revolves around selling their ill-informed customer's genetic data for large sums of money.

LINKS

Company website: https://encrypgen.com/

If you use discord this is their most active community channel where you can speak to the CEO himself: https://discord.gg/bP9tb75

Genetech payment to 23andMe: https://www.forbes.com/sites/matthewherper/2015/01/06/surprise-with-60-million-genentech-deal-23andme-has-a-business-plan/#2ef502462be9

Third party report on the project and token: https://encrypgen.com/wp-content/uploads/2018/01/Encrypgen-Final-Report-locked.pdf

DailyBeast article: https://www.thedailybeast.com/startup-wants-to-sell-your-dna-for-cryptocurrency

New CBC Interview: https://www.cbc.ca/radio/spark/385-online-dating-genetic-data-and-more-1.4538832/would-you-give-away-your-genetic-data-for-science-1.4538838

OUTRO

There is simply too much information out there for me to give you a complete picture of this speculative opportunity. Please do your own research and consider any potential investment into this token as a high risk investment. I am not your financial adviser.

I am thankful to this forum and LSUtoOmaha specifically for making us aware of Ethereum and the speculative opportunities of the crypto-space, and I would love to return the favor.

Thanks guys.