What is Encrypgen ("DNA")? An overview
Hello Reddit.
I recently received a PM from someone asking me to share my research notes on Encrypgen (DNA). In the end, it turned out I'd done quite a bit more research than I'd realised, and I ended out writing a small essay. I thought I'd also just share them with all of you.
NOTE: I do not hold any "DNA". I bought in at 0.15, and sold at 0.25, and I haven't bought back in. I was going to buy more after I wrote this out but then decided the better thing to do would be to submit it here first. Don't wanna be accused of shilling!
Anyhow, here was my overview:
"Sure thing.
The tech/fundamentals: Encrypgen (DNA) solves a real-world issue regarding human genomic sequencing. It's incredibly difficult for organisations to collect and store genomic data because people don't like the idea of their health-related data belonging to a company (and obviously, at risk of data breaches or misuse). It's therefore very difficult for scientists and researchers to access large databases of genomic data. Anything that could bring together a database of genome data could be massive for the biomedical science research, as it might help scientists find connections between genetics and diseases, and in turn, find cures/solutions that were previously unknown.
The Encryption platform would enable individuals to upload their genomic data without it being connected to their identity; the token (DNA) would also enable researchers to buy that data for conducting the sorts of genome research I have just mentioned. Thus individuals could potentially sell their genomic data to the database which would be purchased by universities and bioresearch labs. This 'selling' part might not be possible in some countries, however (in the UK for instance, it is illegal to sell sperm and blood; these must be donated for free; countries like the UK might also illegalise selling such data, or it might be compiled by their national health services instead).
Overall, this hopefully illustrates why DNA has a genuine real-world value, as it enables the monetisation of genomic data on its (private) blockchain.
Potential downside: for me, I had one major concern, and that's that tokens require a fair amount of sentimental input (i.e. hype) to increase in value. I felt that whilst people can see how XRP, or REQ, might get them rich, people would be less interested in DNA because people don't really consider genome research to be a massive industry. Genomic sequencing is, however, one of the fastest growing industries in the health sector, predicted to grow from around $5B in 2015 to around $21B by 2025 (http://ift.tt/2ksGPPI). This is only really a downside for me because I personally place a pretty big emphasis on sentiment. Another potential issue is whether the token itself is genuinely necessary, though I personally think it is as it might help enable anonymity in ways fiat cannot.
Technicals: "DNA" has a low Market Cap of around £17m, and has increased around 4x in the last 2 weeks (was £4m when I first started looking into it). Saying that, the total market cap of genomic sequencing is much smaller than the typical crypto spaces (as I mentioned). if DNA was successful in 2018/19, and managed to grapple around 5% of the market by 2025, then you're looking at a market cap of $1B for the company, and a token worth of around $26 (58x now) by 2025. Of course, the cryptomarket is highly speculative, so it could pass that number potentially. It should also be noted that token market cap does not equal market share, and the coins value would actually come from supply/demand within the database I imagine (so, as is the case with many tokens, it's value would be dependant upon adoption of the blockchain). Furthermore, DNA is currently only listed on two exchanges (Etherdelta and Cryptopia) so it has potential upside if it gets listed somewhere new.
Further Reading! I really recommend reading this: http://ift.tt/2AsAawD.
This paper is a pretty comprehensive explanation of Encrypgen, the genome sequencing industry, and DNA's potential. It's long, but I at least recommend reading until page 7 as it gives a good overview.
They also have a Reddit page (http://ift.tt/2AriSm9) and their website is: https://encrypgen.com/
That pretty much summarises what I know of them. I should note, I am not an expert on this market, just a buy and holder doing research, and you can probably get much better information from the guys on the DNA Reddit (if any of you are here, please please correct me if I've explained any of it wrong!)
Like I say, the company certainly has targeted a good market for growth, and the private blockchain really does fulfil a real-world problem. There could be potential issues with the total market size compared to other industries, such as those targeted by people like IOTA and Ripple, but overall I see it as a good project. Obviously, DYOR, but I hope I've given you a little bit of a helping hand! Good luck! :)"
TLDR: Encrypgen seeks to bring blockchain to the fast-growing genomic sequencing market; it solves a real-world problem and has a relatively low market cap ($17m), but adoption and difficulty building 'hype' could stop it having huge growth.
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