Shivom Announces Token Buyback Plans for 2019

Shivom is pleased to announce its plans to buyback up to 30 million OMX tokens or approximately 5% of current circulating supply in preparation for Shivom’s beta platform release plans in 2019. Beyond simply removing some OMX from current market conditions, Shivom plans to allocate the repurchased OMX tokens exclusively for incentivization early adopters and driving community engagement on the Shivom platform.

According to Shivom CEO Henry Ines, “the buyback program is part of a multi-prong strategy to accelerate growth of the Shivom ecosystem, onboard new users, drive community awareness and engagement and ultimately to further enhance the value of the Shivom platform and the OMX token ecosystem.”

The repurchased tokens will be utilized to provide incentives and benefits particularly to new users, who upload their existing genomic data file on to Shivom’s secure platform and for those who purchase Shivom-branded kits and services in 2019. The buyback program will commence on 01 November 2018 and is expected to conclude by 31 January 2019.

In the interim period, Shivom also plans to release its ‘alpha’ platform on a limited basis for early testing and feedback purposes. The company in parallel also continues to advance its clinical R&D and pilot projects.

Stay tuned for more exciting announcements!

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Breast Cancer Awareness Month: A Look at the BRCA Gene

As October is the month of Breast Cancer Awareness, we thought it a good idea to examine the BRCA genes in more detail, given our area of focus. In case you missed it, Shivom recently announced its partnership with Genetic Technologies Limited, in the aim of improving the methods for predicting the presence of cancer (and subsequently preventing it) with Big Data analysis of individuals’ genes.

“We believe blockchain technology will open up markets to make it much more efficient to catch many more users and practitioners. Not only that, by using the Shivom platform to its full potential, we will also be able to access the benefits of research in collaboration with other personalized healthcare organizations,” commented Dr Paul Kasian, Chairman & Interim CEO of GTG.

Research on breast cancer is perhaps one of the most important medical pursuits of our era. The disease is the second leading cause of death in women, with one in eight being diagnosed in their lifetime (men can also be affected, though it’s a much rarer occurrence).

BRCA1 and BRCA2 are the genes linked to the odds that someone develops the cancer. Contrary to popular belief, these genes are beneficial to individuals, and normally prevent the spread of cancer by suppressing tumours. Unfortunately, problems arise when the pair mutate (and consequently, no longer function as intended). Of those affected by a mutation, 55–65% with the BRCA1 mutation and 45% with the BRCA2 mutation will develop cancer by the age of 70. This is all too common. It’s something that, collectively, we need to better understand in order to actively combat and reduce incidences.

There’s some very good work underway already, and we’re eager to meaningfully contribute to the efforts. We’re firm believers in the power of data — specifically, the genomic information of individuals around the world. DNA holds troves of secrets that, once unlocked, could shed some light on some of the medical questions that have plagued us for centuries. In the age of artificial intelligence, data is fuel for building powerful models for prediction and further analysis. It’s important to ensure the pool is as large as possible to drive accurate results.

Blockchain protocols are the perfect chassis for building secure storage mediums for individuals, whilst also allowing them to share it with given parties — whether research institutions or companies operating in the medical field. It would offer them the ability to simply grant access outright, or to leverage a fee to ensure they’re remunerated for their contribution. Moreover, the nature of the tech is that it can reach even the most remote regions, granting researchers access to a much larger and diverse sample size.

In light of Breast Cancer Awareness Month, it’s important to remember what can be achieved with the technologies we have at our disposition. A key priority for all working with blockchain technology should be deploying it for the benefit of individuals globally — for us, that’s the logging, understanding and prevention of life-threatening diseases.

If you’d like to donate to the Breast Cancer Foundation, you can do so here.

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It’s time to take ownership

Blockchain can help you control, protect and share your health data — helping you and others live healthier, longer lives

Exciting advances in precision medicine over the past decade should mean you and your family are now receiving advanced levels of healthcare and disease prevention based on your genetic makeup.

Researchers and health professionals across the world should be enjoying access to a vast resource of genomic sequencing data and health records — helping them discover cures and treatments for every type of disease.

However, the reality is far different.

An ocean of data about your health and the health of others is likely to be spread across many databases. You probably have little ability to view or update this data, let alone control who has access to it.

As for genomic data, only a small percentage of people have had theirs sequenced — largely because there isn’t a secure place to hold and leverage it.

Time to take control

This is a tragedy. You should have the opportunity to own your health and DNA data, and to maintain total control over it. You should have up-to-date information about the diseases you are predisposed to. Every few months, your data dashboard should be updated to inform you of the latest insights scientists have about your DNA.

If you know you’re genetically predisposed to osteoporosis, you should be able to proactively take steps to avoid its onset. If you’re aware there is a high chance of being afflicted by a certain type of cancer, you should be regularly tested to ensure you can catch it early.

Health apps and silos

There are many ongoing initiatives across the globe aiming to facilitate the storage and sharing of genomic data, and thereby enable the progress of precision medicine. Health apps based on genomic and other health data are good examples. But they tend to be competing against each other and creating even more data silos.

Meanwhile, a few large businesses hold the monopoly on most genomic data, and make large profits from selling it to third parties, usually without sharing the earnings with the data donor.

This stifles research and innovation and prevents medicine and healthcare moving forward at the pace it should.

You and your doctors are being denied vital knowledge about your health, and brilliant scientists are being denied access to genomic datasets that could help them gather potentially transformational information that could lead to the eradication of diseases.

Cyber attacks

Not only is your future health being compromised by the current system, but your health data is being left vulnerable too. In the wake of major data breaches like those at Yahoo! and Equifax, it’s hard to trust any organization with sensitive data stored on cloud databases or local servers.

The release on the internet of your data records could have huge implications on your personal relationships, your future employment, your health insurance and your general well being. Cyber criminals know this, so medical data will increasingly be targeted to leverage money from health organizations and patients themselves.

It’s no wonder few people are largely unwilling to map out their DNA and risk this data being spread across the internet.

A blockchain solution

But blockchain-based technology could be the solution everyone is waiting for.

Its distributed ledger technology removes the vulnerabilities associated with cloud databases. This means it would be safe to store even the most sensitive DNA and healthcare data on the blockchain, without fear of it being stolen or misused in a cyber attack.

A centralized health data hub built on the blockchain could let you maintain full ownership of this data, allowing you to share it with health professionals.

Let’s imagine you’re visiting a specialist doctor for a consultation and tests. She would just need a laptop or mobile device to access your health data in the ecosystem — using a private key (in other words a temporary password) supplied by you. At no time would the data be stored in her own computer or cloud database. And she would only have access to your data while you were under her care.

If you wanted to share the data with a research firm, you could give them access to your data in anonymized form for a certain period, and perhaps receive a payment in exchange.

A new ecosystem

Healthcare and wellness providers such as clinics, pharmaceuticals, research organizations, governments, patient-support groups and insurance companies could join an ecosystem built around this blockchain technology.

They would no longer have to compete with each other to gather data. It would be there for them all to use — for example, to boost clinical trials or facilitate drug research and development. This data could be easily sharable and interoperable across technological, geographic, jurisdictional, and professional boundaries.

Sharing data

Such a system could offer patients access to applications that leverage their data and enhance their well being and health — for example, nutritional and fitness advice, treatment plans, genealogy, disease predisposition, and lifestyle management.

Looking into the future, as more personalized biological information becomes available, services could be offered that are based not only on genomic data, but also other health, biological, and environmental information, facilitating new insights into disease processes.

This is an exciting time in healthcare. Soon, you’ll have the power to leverage your DNA and health data to live a longer, healthier life, while helping billions of others on the planet.

All the technologies are in place. The world just needs a suitable health data platform.

About the Author

Dr Axel Schumacher who has over 20 years’ experience in the field of genetics; and is the Chief Scientific Officer of blockchain-enabled genomic data-hub startup Shivom. Shivom’s platform aims to be the largest genomic & healthcare data-hub on the planet, allowing the world’s population to have their genome sequenced and securely stored with the help of blockchain technology.

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