Shivom is a blockchain venture that plans to utilize the blockchain technology create a universal database for DNA sequences. With the difficulties in obtaining genetic information, Shivom provides a marketplace for buying and selling genomic data. This article will provide a SWOT analysis of Project Shivom.
Strength - Hype 🎪
2017 was the year of the ICO. Over $5.6 billion was raised through ICOs in the past year, with 435 successful ICO projects, raising an average of $12.7 million. However, not every ICO is a success. The 10 largest ICOs accounted for more than 25% of the money raised and only 48% of ICOs in 2017 were deemed successful. Competition is fierce, with over 1,500 cryptocurrencies in circulation spread across nearly 10,000 markets. The difference between success and failure in an ICO is, more often than not, in the marketing. This is where Shivom has triumphed.
Shivom boasts a big community helped by airdrops and bounty programs. Their website is clear, concise, and easy to navigate. All the necessary information is easily accessible and well presented. Their Facebook and Telegram communities are huge and growing. But exposure is key to not only raise money for the ICO but promoting awareness of the product. Shivom has done that successfully and raised over $32m with popular news outlets all talking about the product and how it's going to disrupt the healthcare industry. Just look at the numbers below of their social media followers!
Telegram – 70k+ members
Reddit - 21k+ members
Facebook – 4k+ likes
Twitter – 46k+ followers
Weakness - Team đź‘Ş
Shivom, in my opinion, doesn't have an 'all-star' developer team. While their token sale is expected to hit hard cap quickly, the concept of integrating genomics data with blockchain needs to be adequately produced by a team who are highly motivated, with broad experience from a different background. While Shivom's team does satisfy some of these conditions, they don't have developers from tech giants such as Microsoft, Apple or IBM. Their founders and directors do come from a strong public background but from what is shown on the website, their team does not consist a lot of experienced developers. It's all good having a good concept and idea, but you need developers to put it into place. However, this is just a minor weakness and they are probably yet to reveal their whole team publicly.
Opportunities – Partnerships 👊
Shivom has a strong set of investors and partnerhsips already established before even the ICO had started! Investors include Ironside Capital who provide equity and debt capital raising and corporate advice for Australian businesses. DigitalX is a Blockchain Technology Company based out of Perth and New York who provide ICO advisory services, blockchain consulting services and blockchain-related software development - something which can counteract the weakness I suggested earlier on having a strong set of developers. Hence Shivom is backed well financially with over 5 investors and counting.
In terms of partnerships, Shivom have partnered with other cryptocurrencies such as DeHedge who are a decentralized risk-hedging platform for cryptocurrency investors. The DeHedge team stringently researches and analyses projects before accepting them onto their platform so this gives a good impression, brings some certainty and trust in the Shivom project. Foxtail Marketing who are a digital marketing agency have partnered with Shivom to expand the exposure of converging blockchain technology with genomic data using Shivom. From a technical point of view, Shivom have partnered with Genetic Technologies who are an Australian-based molecular diagnostics company specialising in women’s health and offer predictive testing and assessment tools to help physicians proactively manage women’s health. With so many partnerships and investors, Shivom has opportunities to expand with even more partners like governments (as they have with India's Andhra Pradesh government) and have greater potential than other ICOs who don't have such a diversified portfolio of partners.
Threats – Competition 🏆
The concept of utilising genomic data with the blockchain is not really unique as most of you might think. There are a number of competitors Shivom faces to grab the big share of this industry. LunaDNA is a community owned genomic and medical research database that will let you upload your genetic information and receive “LunaCoins” when you let researchers have access. EncrypGen does something similar, but with metadata about the actual genome. It offers blockchain enhanced security for safe cloud storage and sharing of genomic data in a global marketplace with institutional requesters of sequenced DNA, and providers of sequenced DNA. The AI health care company Insilico is building a system called Longenesis that will let people upload and trade all kinds of health and medical data, not just genomes. They claim themselves as an artificial intelligence for drug discovery, biomarker development & aging research.
And that doesn't stop there! Zenome lets you upload a text file of your genome, and pays in ZNA Tokens creating an infrastructure for storing Big genomic data using distributed database. It aims to provide open access to millions of human genomes worldwide with privacy protection. With so many competitors, Shivom will need to stand out from the rest and hence face hurdles in being successful.
Details đź“ş
Website: https://shivom.io
Whitepaper: https://shivom.io/files/Whitepaper.pdf
Announcement: https://bitcointalk.org/index.php?topic=3204563.0
Telegram: https://t.me/projshivom
Profile 🌀
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