Genetics testing is in vogue right now. It can serve many different purposes: from medical research or diagnostics to genealogical or forensic investigation. But while the technology for DNA tests has come far, the social and technological infrastructure for genetic testing businesses has lagged behind. Many regulatory obstacles are only being overhauled now. Likewise, issues surrounding the secure storage and use of this very sensitive information have yet to be resolved.
https://www.dnatix.com/
DNAtix, an established company working in the field of genetic testing, sees a solution in blockchain technology. It has developed a proprietary technology that would allow genetic information to be compressed, encrypted and stored on its blockchain. Customers would then be able to share this information with whoever they want, whenever they want, receiving a token reward. DNAtix hopes to attract third-party developers to its platform, allowing them to create dApps that could use this information in various ways.
How will DNAtix handle DNA?
Central to DNAtix' proposal is its original DNA compression algorithm that will convert genetic data into 2-bit code. Partial or full DNA or RNA sequences could be uploaded with its help. This data will be encrypted and stored on the DNAtix blockchain, supported by DNAtix Virtual Machine nodes ran by miners. Customers will be able to manage their genetic data through smart contracts managed through the DNAtix wallet. They will be able to make it available for specific uses for DNATIX token rewards. They will also have the option of transferring the rights to genetic information to their heirs.
If permitted by the owners, any other users on the platform, such as labs or researchers, could use this genetic data to run tests. DNAtix will support the development of third-party dApps on their platform. They are expected to offer genetics-related services, like tests, comparisons and big data analytics, to their clients. Among other possibilities, dApps could scan DNA for specific mutations or disease risks. Test results could also be stored on the blockchain. For every task carried out by those dApps, tokens will be distributed to their developers and to supporting miners.
What sets DNAtix apart from other projects?
The DNAtix platform offers a way for genetic information to be stored and shared securely and in an anonymous way. In so doing it leverages the key advantages of blockchain technology to resolve a major issue holding back further development. It offers benefits to everyone in the genetics ecosystem, from the customers to researchers and hospitals, as well as other biotech firms. In the short run, it should make genetics-related services more accessible and therefore more popular. Later on, it may directly contribute to the further advancement of genetics and genomics, which in turn could create further business opportunities for companies on the platform.
People working on DNAtix' blockchain platform count among their number business professionals, biological researchers and software developers. DNAtix was originally set up as an individual-oriented genetics company back in 2008. Since the launch of the current project in 2015, they have already developed their genetic compression algorithm and carried out two proofs of concept, transferring genetic information through the blockchain, including a groundbreaking chromosome transfer through the Hyperledger Fabric. DNAtix has a patent pending for its technology and another being prepared.
https://www.dnatix.com/
Token sale details
An innovative genetic testing infrastructure
The rise in popularity of genetic testing is a trend defined by technological advancement, the scientific and medical utility of DNA data and the growing interest of ordinary people in their own genetics. Combined with the sheer variety of uses and users within the broader ecosystem, it is easy to see how this field is attractive for new startups. Using blockchain technology to ensure security and reliability is an obvious choice – which means that DNAtix will face substantial competition.
Can DNAtix still prevail? It has an edge thanks to its experience and successful proofs of concept. However, its real offer at this point is a little threadbare. An effective and tested method of uploading genetic information to the blockchain is valuable in itself, but the final value of the DNAtix platform for its customers will be determined by third-party and partner developers. This is still a comparatively early stage in the project's development, so it has plenty of time to secure the support it needs. If it succeeds, then it may become a major player in the genetics testing world.
Links:
Website: https://www.dnatix.com/
WhitePaper: https://bit.ly/2PzsZJo
Telegram: https://t.me/dnatix
Facebook: https://www.facebook.com/dnatixgenetics/
Twitter: https://twitter.com/DNAtixGenetics
Medium: https://medium.com/dnatix
ANN: https://bitcointalk.org/index.php?topic=4900060.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.