Analysis of ICO Shivom
The Shivom ecosystem is an open blockchain-based genomics database, marketplace and innovation hub, which will allow third-party vendors to add and market customized apps ands precision medicine services. Shivom will extend its services to form a global network of genomic counselors and associated laboratories as well as establish an independent R&D organization for a fully integrated healthcare service system. The platform works on the principles of open collaboration, transparency and integrity; it provides patients with complete control over their own genomic data. Patients and donors will also be able to donate or monetize on their genome via platform. Shivom’s advanced protocols will be able to aggregate and unlock disparate soloed data from centralized databases thereby resulting in more efficient drug discovery and R&D efforts globally.
Shivom is a B2B and B2C platform providing services primarily for storage, process and analysis of genomic sequence data using cutting edge technologies. Core business will be comprised primarily of Shivom products and data aggregation and analytical services; genomic counseling network of services; third-party apps/products. Initially, genomic and other “omic” services will be primarily paid by consumers via classical B2C/D2C channels. By middle men elimination, Shivom will offer services at a discount relative to today’s prices. Similarly, data buyers will be able to acquire or move data on the platform directly. For any such services, Shivom will receive a small transactional fee.
OmiX - Shivom’s currency - is a utility token, which must be used for any product, service and action conducted on the platform. Shivom intends to direct net token proceeds back into the platform as warranted to further expand and improve an ecosystem. As the cost to sequence genomes becomes cheaper, Shivom anticipates employers and healthcare providers to sponsor/subsidize such services. This will lead to overall reduction of healthcare costs and insurance premiums.
Beyond its product and service offerings, Shivom customers will be able to purchase apps from the external parties. For any such transactions, Shivom will take a modest service fee in OmiX tokens.
Pharma companies are another stream of revenues: they will buy data to support drug development programs.
Worldwide rollout of the platform is expected in Q3-Q4 2018 according to the roadmap; AI platform will be released in Q1 2018.
The WP doesn’t have a marketing plan. The company signed partnerships with the following organizations:
- Indian government of Anders Pradesh
- Genetic Technologies Limited
- Ocean protocol and Spherity protocol
The team is very active on all social media platforms, the numbers of followers are very high (70+k followers on Telegram, 46+k followers on Twitter). There will be bounty campaign and referral program in the nearest months.
Team members’ backgrounds are very diverse and solid. Shivom’s founders have experiences genomics, bio technology, blockchain in medicine, investment and wealth management, strategic management. Team members are specialists in innovation, health tech, design, marketing and PR. Shivom has launched an innovation council (for advisors) with experts in telemedicine, data science, VC, cybersecurity, pharmacology.
The Vision of the Market
The WP has very extensive market research, covering healthcare, pharmacology and genomics. The problems which Shivom platform tackles are:
- Patients safety
- Cyber threats
- Data reliability/privacy
- Unequal access to technologies.
Team’s expertise in targeted industries is very high, so they made thorough evaluation of the market and current shortcomings.
Understanding of the Target Audience
The product targets broad groups of patients, pharmacologists, healthcare services providers and app developers.
The WP doesn’t have competitor analysis. The healthcare industry already started using blockchain. For example, in pharmaceutical sphere there is a MediLedger project, which aims to innovate prescription medicine. ConnectingCare platform brings together providers from different clinic organizations to view the same data for shared patients. These are just two out of many projects. Shivom’s strengths is in its technological advance and genomic medicine inclusion.
Strengths: signed partnerships; very strong team and world-renowned advisors. Thorough market research and clear vision of the market, business model is presented in detailed way.
Weaknesses: no financial plan/projection, no competitor analysis, no marketing plan. The product is technically advanced, this may require additional funds.