Genomics, the study of DNA, is big business. By 2027, the global genomics market size is expected to reach 31.1 billion USD. At the heart of this growth industry, new ways of working and new platforms will rise and capture a significant market share. One such company, EncrypGen, is combining the competitive edge of blockchain, transparency and genomics to become a leader in empowering people to have self-sovereignty over their genomic data.
Here’s a rundown of the most popular question and answers from the EncrypGen community to help you dig a little deeper on this exciting, genomic company.
***This article assumes that you are involved in the cryptocurrency space. If you have no knowledge of cryptocurrency investing and you’re looking for a general overview of the company, then visit the EncrypGen’s website for further information***
Why should I invest in EncrypGen?
Currently, when people carry out DNA tests, whether this is to trace ancestry or get an indication of their future health, the small print means the testing company has the right to resell the genomic data for their own profit.
Your data is valuable!
If you’ve done a DNA test you can sell your de-identified data to researchers using EncrypGen, help science and put money in your pocket – where it belongs.
What is the total and circulating supply of EncrypGen?
The total supply is circa 71m and the circulating about 55m.
What is EncrypGen’s token and what is it used for?
EncrypGen’s token is DNA. It is an ERC20 token.
Whenever you sell data on the Gene-Chain, you earn tokens equivalent to the price you set for your data in US Dollars. These tokens can be exchanged for Bitcoin or Ethereum, or can be taken off the Gene-Chain and sold on various exchanges. DNA tokens are money, the currency of the Gene-Chain.
Does it cost to upload my data?
There is no cost for users to upload their data and create a profile.
What is Gene-Chain?
Gene-Chain is where your de-identified data is stored.
EncrypGen’s Gene-Chain was built to serve two types of people:
1) Those who have done or want to do genetic tests but want greater control of their data as well as the potential to profit by selling that data to scientists anonymously
2) Researchers who want to have better access to anonymized data and the ability to pay the people whose data they use directly.
If you want to find out more about Gene-Chain and how it works, then visit the EncrypGen’s website Q&A section here.
What may cause the DNA token to increase in value?
The next stage of growth is the platform moving to the next level of public awareness, onboarding at least 50,000 customers and building wealth for genomic data owners and investors.
EncrypGen are also planning to enter numerous other deals with medical data platforms.
The low token supply and platform development should place an upward pressure on token value.
OK, I like the sound of DNA – where can I buy and sell it?
DNA can be bought and sold on both decentralized and centralized exchanges.
Due to a token swap at the beginning of February 2021, DEXs are not up and running, yet.
We will update in due course. The best place is as per below, CoinMetro.
If you prefer to trade on an exchange with lower fees, then CoinMetro is your best choice. You can create limit orders to buy and sell at the price you want to pay. KYC is required to trade on this exchange (under 10 minutes if you have your documents handy).
*** If you use the above link, then you’ll get 5 euros free when you deposit 50 euros or over, and have a trading volume of over 250 euros – easy!***
How can I earn passively income from my DNA?
If you’d like to earn a passive income, then you can stake DNA with an equal portion of ETH and earn from creating liquidity on a DEX. ***Section to be updated in due course***
Who are the team behind EncrypGen?
The founders of EncrypGen are husband and wife team, Dr. David Koepsell and Dr. Vanessa Gonzalez.
David has been teaching and writing about ethics and technology for more than 15 years.
Vanessa is a genomic scientist, working for the Nation Institute of Genomics in Mexico.
They are both passionate about genomics, decentralization and personal ownership of data.
I’d like to invest in the project is there any way I can do this?
EncryptGen is currently holding a security token offering (STO) on CoinMetro exchange.
At 10 Euros per bond token, with a minimum investment of 10 tokens, you can become a transformative part of the next wave of data ownership and individual profit for health data.
Investors will also acquire with their purchase above 10 bond tokens a sum of 500 DNA tokens with which they can take part in the Gene-Chain data marketplace.
Upon reaching the general fundraising threshold, investors that hold till the end of the term will have also an option to convert their Bond Tokens into EncrypGen Growth Tokens (equity-like instruments).
These growth tokens grant the holder the fruits of equity ownership such as dividend distribution, revenue sharing and a piece of the profits should the company be sold.
Click here to learn more about EncrypGen’s STO and even calculate your return on investment!
Where can I learn more about EncrypGen?
You can visit their website for further information and links to their social media channels.