Explore Your Genome, Reshape Your Future — Time to Meet X Genomics
Why are cryptocurrencies valuable?
This is probably the question haunting many people who are less familiar with this industry. Let’s start with an easier one: why does anything have value?
Simply put, because people believe it does — more than often, it’s not about the object itself, but rather the stories and concepts that are attached to it.
And that is also why cryptocurrencies can be valuable — because it has its own intrinsic value that is recognized by the public.
Yet, the answer is far more than that. The greatest value of cryptocurrencies lies in providing infrastructure for scientific discovery — this decentralized, immutable ledger with individual access to certain available data, can enable exponential scientific growth, and by then, there will be barely one single branch of science or industry that is not influenced by blockchain technology, the empowering engine of cryptocurrencies.
Infrastructure of Discovery
Genomic medicine is an emerging medical discipline that uses individuals’ genetic information as part of references for diagnosis and treatment, hailing the advent of an age of personalized medicine. The Human Genome Project is one of the most exciting scientific achievements of the early 20th century, an international research project that unlocked the door to understanding our biology on a mind-boggling level.
Imagine having access to all the genetic material that scientific institutions are researching right now.
Imagine the accumulated big human genetic data being safely shared and developed cooperatively worldwide.
Imagine your own genomic data being mined to uncover treatments for a number of diseases.
Imagine it being used to unravel the secrets of our common human heritage.
Blockchain and genomics are a fantastic match. This match will provide a bridge to seamlessly collect genetic data globally using trustful, decentralized network . The outcome will resolve a multitude of problems at the same time: to amass and race data globally, to save the data securely, and to render it accessible to institutions and individuals worldwide.
Barrier to Entry
The first human genome sequencing cost over USD 3 billion back in 2003. Today, it can be done at a cost of USD 1,000. Medicine is entering an age where individuals will be diagnosed not based on general symptoms, but their personal genetic blueprints. Any two humans are 99.9% genetically identical. Yet, within the 0.1%, there are a large number of variants composing a multitude of individual personalities, physical traits,predisposition to illnesses, etc. With genomics, each of those will be easily pinpointed. This will revolutionize the way we treat illnesses, plan families, exercise and eat. We will be able to prevent pathogenic variants, improve our physical performance and optimize our diets.
Already there are hospitals that offer gene sequencing analysis as a part of the diagnosis process. However, there are several problems with making genomics treatment a regular medical procedure. The price of the procedure is still high, and the public is concerned about how their genetic data will be used. These problems prevent research facilities and companies from accumulating large amounts of data, and the data sets they do end up using different standards, as they have been collected by middlemen, customer-level gene testing companies who rely on self-reported data.
This is where X Genomics steps in.
Our mission is to create a global human genome data hub, establish a worldwide genetic database and maximize the value of genetic data in international research. The goal of X Genomics is to build the world’s largest genetic data chain on the blockchain. By making a decentralized genome data storage, X Genomics can enable human genome data to be publicly accessible and ready for institutions and individuals. The blockchain is a disruptive solution that solves multiple problems at once. It will allow genetic data to be publicly accessible and open for sharing, permanently saved and immutable, and safely secured while protecting the privacy of the gene donors, leaving the ownership of data in their hands.
This will enable all collected genetic data to be traceable and given a value. As a result, X Genomics will encourage scientific research institutions to participate in genetic data analysis and global genomic data mining. It is created with the goal that genetic data can be used to provide comprehensive, customized health management and life guidance for gene donors.
Tokenization of the Genome
What X Genomics focuses on is not the 99.9% similarity in the genome, but the less than 0.1% variant in the genome. Once the genomic data starts to be available on the blockchain, X Genomics can offer a platform for researchers and institutions to analyze, study and explore the secrets of variant genetic data. It will instrumentally change the perspectives of human health management and disease prevention while protecting the security and privacy of genetic donors, and rewarding them through a tokenized economic model.
The token-based economic model is used to integrate and incentivize various gene technology and research institutions to engage in genetic data analysis and mining. Also, it will encourage users to upload their genetic data to the X Genomics blockchain in exchange for tokens. Finally, token holders can use the tokens to purchase global medical services, insurance and personalized precision medical treatment on the X Genomics blockchain.
Through a decentralized network infrastructure, we will be able to exponentially speed up the process of decoding our DNA by inspiring the public to explore genetics and medicine.
Thus, with the exploration of our genome, we can get all the bio information we need to maintain our health and prevent possible diseases, and therefore reshape our future in a better way.
For more information on X Genomics:
Official Website: https://www.xgenomics.org
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Read more on Medium: https://medium.com/xgenomics