The world of healthcare is changing fast, and startups are looking for new and creative ways to play the space. Virtually everyone recognizes the inherent power of healthcare, and its potential for profit, but harnessing that power is another thing altogether.
Now a new project, dubbed Shivom, aims to combine the promise of medical genomics with the power of the blockchain. The project, based in Ludhiana, aims to create a new web-based marketplace, one that healthcare providers can access to create useful apps and services for their clients.
The Shivom project also incorporates cutting-edge genomic data analytics, all aimed at driving the trend toward truly personalized medicine. We have always been fascinated by the drive toward personalized medicine and customized medical treatments, and the founders of Shivom certainly feel the same way.
Shivom was founded in 2016, and it is the brainchild of three distinct individuals – Gourish Singla, Sally Eaves, and Axel Schumacher. Based out of Ludhiana, the initial wave of funding utilized the angel investing model. But it is the idea behind Shivom that gives it its power, and the approach it takes to healthcare and preventative medicine is truly fascinating.
Instead of relying on the traditional approach of medicine, namely waiting for symptoms and making a definitive diagnosis, Shivom turns things on their head. If the project is successful, patients will be able to enjoy truly revolutionary medicine, predicting diseases before even the most sensitive tests could detect them.
The backgrounds of the Shivom founders certainly give us reason for hope. Founder Gourish Singla is an investment banker, while Sally Eaves is an experienced fintech professor, as well as a global strategic advisor. Perhaps more importantly, founder Axel Schumacher is a scientist with more than two decades of experience in the genomics field. Schumacher is also experienced in epigenetics and the discovery of biomarkers, fields that lend themselves well to predictive medicine.
From 2016 on, the founders of project Shivom saw an unmet need – namely a way to empower patients and give them ways to take charge of their healthcare experiences. As originally devised, project Shivom would be a complete ecosystem, one that offers an open and web-based marketplace where healthcare providers could build their own apps and online services.
By combining these apps and services with things like genomic data analytics, project Shivom aims to create truly personalized medicine. And it aims to do it through the use of a blockchain-enabled platform.
It is that blockchain-based approach that sets project Shivom apart from the competition. While the field of personalized medicine is not new, this blockchain-based approach certainly is.
The idea to use blockchain technology was built into project Shivom almost from the start after the founder and CEO, Alex Schumacher, identified the need for precision medicine in a recent book.
The Shivom team have also identified the profit potential of this new approach to precision medicine. As Gourish Singla explained:
“There are thousands of companies worldwide that can potentially profit from working with Shivom.”
Another thing that sets Project Shivom apart from earlier attempts at personalized medicine and customized healthcare is the way it is being funded. While angel investors helped the founders raise their initial round of money, Shivom are taking things a step further with a token sale.
With this token sale, contributors will be able to benefit from hedging for the first time. Unlike other recent ICO projects, Shivom will create the world’s first hedged token, something many cryptocurrency fans are looking forward to.
This new approach will allow contributors to take advantage of a decentralized risk hedging platform, something known as DeHedge. Shivom has signed an agreement with DeHedge, one that will allow contributors to its OmiX token to hedge the associated risks, something that until now has been impossible.
This partnership between DeHedge and Shivom is the first of its kind. It will give investors a 50% coverage of risks while covering all manner of unforeseen circumstances. The ability to hedge risk, in turn, should create additional interest in the OmiX tokens, making it easier for Shivom to raise the capital it needs.
The need for personalized medicine has been apparent for quite some time, but Shivom is undoubtedly taking a unique approach to the subject. Only time will tell if this approach will be successful, but we will certainly be watching closely.