Encrypgen (DNA) Is a Promising Long-Term Utility Coin
While blockchain technology is still entering the beginning stages of adoption, it has already begun the process of disrupting many industries that have been around for decades. Encrypgen (DNA) is attempting to do just that in the genomic data industry. The company was recently featured in a very well written Hackernoon article that addressed the difficulties, especially the privacy concerns, in the traditional approach toward genomic sequencing.
One of the largest companies involved in this space is 23andMe. Although the company has succeeded at generating significant brand awareness, and inking an impressive partnership with GlaxoSmithKline, 23andMe has struggled to protect the security of its consumers data (both through choice and accident – which is even more troubling).
Genomic data is one of the most valuable pieces of information that we own. After all, it is what we are made of. If our financial information is stolen, we can take actions to resolve the situation. But if our genomic data is stolen, I wouldn’t even know how to begin to fix that. Luckily, we probably don’t have to worry about that type of situation arising if our data is stored securely with Encrypgen.
In November 2018, Encrypgen made headlines by announcing the launch of the world’s first genomic data marketplace. This marketplace, called Gene-Chain, is a cryptographically encoded ledger used to mediate the searching, storing, buying and selling of genomic data. Although the company is well on its way to becoming a leader in this space, it never hurts to announce deals with globally recognized empires such as Microsoft.
Just last week, Encrypgen announced that it was a Microsoft startup although the company is still waiting to find out whether it’s a certified or qualified startup. Either way, it’s a very promising development.
Microsoft for Startups is a $500 million initiative to help startups create, develop and market enterprise-level software. Encrypgen will benefit from access to a variety of benefits that include the following:
For a small startup such as Encrypgen, these resources and benefits should prove invaluable as the company attempts to take hold of an industry that is aching for positive change.
Although the Microsoft news is the cherry on top, Encrypgen has been incredibly busy during the past two months announcing two very positive partnerships.
The first came in December, when Encrypgen announced a partnership with Murrieta Genomics. With the new partnership signed, Murrieta will begin offering Encrypgen’s Gene-Chain to the Genomic Data Industry. Murrieta is a genomic sequencing incubator and, as such, they have a vested interest in seeing Encrypgen succeed.
On January 16, Encrypgen announced another partnership deal, this time, with viazoi. Viazoi creates wellness programs that translate biological data into actionable results that can have a profound impact on a person’s life. These results help support interested consumers along their personal wellness journey. It’s a natural partnership as consumers can now buy viazoi test kits in the Gene-Chain marketplace. Consumers can use DNA tokens to purchase the testing units which further supports both the DNA currency and the growth of the marketplace. It really is a win-win for all parties involved.
With all the good news being announced, it’s not a surprise that the DNA token surged in value during the past month. DNA more than doubled in value since the start of the year. That’s a really impressive feat given that all the other altcoins remain solidly entrenched in a bear market. While the Cryptopia hack has proven to be a bit of an issue as far as trading volume goes, the DNA token has since been listed on a few additional exchanges such as Bleutrade.
Given that genomics is one of the fastest growing industries, and that Encrypgen is the only available blockchain genomic data marketplace, DNA is certainly one of my top utility coin picks for 2019 and beyond. While nothing is guaranteed, the company appears to be making strong, steady progress while many other crypto projects continue to disappoint.
Disclosure: Sam Waters owns DNA tokens