The cryptocurrency market seems to be cooling down the last couple of weeks... maybe it's the start of a bearish trend, for all we know. For those who got in at the peak-hype, such as myself, things do look a bit bleak in the short term (yes, I am talking about you, EOS).
Funding new ICOs seems to have taken a back seat in people's priorities as many run helter-skelter into this coin or that asset to protect their investments. But there is this one lesser known token on the block, with a few days left in its ICO period (at the time of this writing), that I think has some potential. Let me clarify.
Encrypgen, a Florida-based company formed in 2016, aims to solve the problem with handling and sharing of genomic data across researchers & health care providers in a way that gives control to the people whose data it is in the first place. Why do I think this company has potential?
1. Targets a real problem with regards to accessibility and privacy of genomic data, via distributed blockchain.
2. First mover advantage in this sector.
3. Founders and other people involved seem to have previous experience with startups. They are also very responsive and open to suggestions, over at their Slack channel.
4. Already have an angel investor funding them that will last into mid-2018 before they need to use the ICO funds.
5. A conservative cap on the total funding of 1000 Bitcoins worth. The capping alone is a breath of fresh air, compared to some other ICOs we've had recently. Total 100 million DNA coins, aka Gene-Chain Coins to be issued, 80% + 5% bonus, via the ICO. Fixed supply.
6. Clear cut roadmap outlined until early 2018. They also claim to have a working beta.
7. No undue emphasis on marketing, as some other companies might try to, to cover up for lack of technical innovation.
Another thing that differentiates them is that they are using Multichain open source blockchain platform and might be the first ones using that technology to enlist on an exchange.
While I think this coin is especially good for HODLers, I feel that even if you wanted to flip them for a profit in a couple months (arrives on undisclosed exchanges come this August), you would not be disappointed, given the limited supply, the unique selling proposition and a promising roadmap.
They have recently posted this video to their website summarising the main goals of the project and features:
The ICO is up for 3 more days and they conveniently accept BTC, ETH, DASH, LTC & ETC. The confirmation that I have received upon payment informed me that my DNA tokens will be emailed to me in a custom wallet after the ICO period ends.
Disclaimer: I have taken part in this ICO with whatever I could afford to spend at this time. While I urge readers to check these guys out, I advise you to decide based on your own research and sound judgement and not just my opinion of it.
If you liked what you read, you can buy me a cup of coffee via:
BTC: 1GWh1LL1gfXKRPx4MvYvPKC9Vmuictvqxz
LTC: Le1qJrTQ2ZmMLUHosxhMPNZeep5J1sqwuo
ETH: 0x44C6B0cEEb1A9A9c11B4A2cab7f9ECb6CCd6A305
DASH: XfyXREoECoEdteqQapYuZ48GVd7dPaAyrK
These are the types of ICOs that are good to invest in, they solve real world problems not just a copy of this coin and that coin.
Absolutely!
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STOPGreat story, @paulpaudel.
It's awesome to see support like this :)
Thanks! Well, I think Encrypgen's goals by itself deserve wayy more shoutouts than it has received.
But maybe that's not so bad. Hype can be very dangerous for any idea that can be. It is better to stay grounded for focus. As many say in the business world -- the product is the marketing.
Fingers crossed, sure. It is unchartered territory afterall, but I have a good feeling about this one.
When are they supposed to distribute the wallets? They said one week after ico? 😜
Got it yesterday!
Mine too! So under-valuated. In 5-10 years this is going to be goldddddddddddddddddddd!
Lets hope we can HODL! :)
I missed the boat on this one, but REALLY want to invest. This is going to be huge. Look at all the potential upcoming issues with personal genomic/genetic data and privacy - it's going to be a mess. Even the threat risks of companies getting access to personal genetic data to market or create specific viruses for certain ethnic groups, etc. We are entering a brave new world with genetics and this is only the beginning.
Anyway, long-winded way of saying that I really believe in this technology and want to invest.
Anyone know when this coin will launch on the exchanges and/or if there is any way to get into the coin at this point?