How does the OME token have value?
We envision that each query of an individual’s genome would require usage of the OME token. We are aiming to sequence 1 billion individual’s genome at a market leading rate. Based on grouping queries into packs around certain diseases or phenotypic characteristics, we predict each account to produce >50 queries per year. This amounts to 50 billion transactions per year at between 10c & €1.
The ‘Genomes’ ICO will also allow us to develop a platform so that other apps can query genomes if permission is granted. This should exponentially increases usage of the OME token. As there are only ever going to be 110 million OME tokens, the value of each token will represent the market value for the usage.
How do I get my genome sequenced by ‘Genomes’?
We anticipate pricing to be available with the ability to process order in the second half of 2018.
All ICO investors who invest 50ETH or more will have the opportunity to have their genome sequenced at no cost in a first come first served basis.
What is unique about the ‘Genomes’ technology?
As pointed out by DNAVID here, “An efficient way of querying a large decentralised DNA database, with strict access control, and restrictions to some portion of the data is a big challenge. One could imagine that smart contracts could play a role.”
We play that role.
‘Genomes’ is a blockchain application designed to privately, securely store whole genome sequence data for an individual in a manner that allows questions to be asked of the genetic code without exposing the code to others. ‘Genomes’ uses Ethereum and Rockchain to allow systems to compute a function on private data, without exposing anything about their data besides the result.
All corporate data are held locally and securely, the permissions are finely tuned through ethereum blockchain smart contracts. The only data transferred outside the company is the computation results. The ComputeReduce node can also serve as a connection proxy from the corporate world to the outside world, such as traditional firewalls or internet proxy servers.