In this piece i will be performing a business analysis of the Shivom Blockchain project using a tool known as SWOT Analysis which is used to highlight the internal and external factors of a project or business. SWOT means Strength(s) Weakness(es) Opportunity(ies) and Threat(s).
SHIVOM SWOT Analysis
Strengths
The strengths of shivom lies in the technology, concept and rarity. Never before has it being done that a blockchain project will take medical science to the lengths of genomic technology. This is a game changer, the blockchain integration means data can be stored securely and transparently which is obviously absent presently.
Medical innovations is a very important topic that affects everyone directly or indirectly and with shivom we can all contribute to the future of medicine and also get rewarded for participating. This in itself will drive more people to adopt the technology as soon as it is mainstream.
Weaknesses
The most obvious weakness at this stage for me is the absence of a beta version or protoype. The crypto market is very volatile and is still relatively new to the masses meaning people respond very well to facts not maybes. Most of the people in the crypto space are relatively inexperienced and may see this as a red flag irrespective of how good the project is or when the release of the prototype will be.
Another weakness i noticed about this project is that, after going through the website and whitepaper i could not find a measure that protects the platform against people who will try to record their data multiple times. This if not checked can be a real worry for the system, but i believe as soon as the beta version is out a lot of things will be made clear or corrected with a good feedback system.
Opportunities
Opportunity in the context is basically what Shivom has to offer not only to the crypto world but to the whole world.
According to The Sydney Morning Herald: A law passed by Congress in December 2016 and signed by President Barack Obama, sets aside $3 billion ($3.9 billion) over 10 years to fund research of brain diseases and precision medicine.
According to Hiv.gov: The U.S. government investment in the domestic response to HIV has risen to more than $26 billion per year.
These are among many more billions spent researching cures to diseases and sicknesses plaguing the human race.
Shivom is Tapping into a multi-billion dollars industry with a new and revolutionary concept, and sourcing solution right from the basic source of human life and identity.
Shivom is doing this with the blockchain meaning powered by smart contracts,
- Billions are eliminated in costs of hiring and paying staffs
- Information and data is gotten directly from the source
- There is wider reach to people all over the world
- People get rewarded for playing a part in medical breakthroughs
- Current research projects that are crippled due to insufficient data can move forward and expand
- Shivom investors and token holders will benefit from the increase in value of Omix tokens which will result increased demand
The Opportunities shivom offers on and off-chain are so much and the success of this project will only open more doors of opportunities
Threats
A multi billion dollars industry irrespective of the type it is, be it charity, entertainment, sports or in this case medicine has its power holders. Companies that benefit handsomely from the billions spent on research especially the ones responsible for the acquisition of data may feel threatened by shivom.
This said, there is nothing that says centralized bodies cannot venture into blockchain technology, and if the do; their reputation may be a deciding factor that distinguishes whether researcher use their services or that of shivom.
I see this more as a competition than a threat and a good healthy competition is good for every business because it will only strive them to get better.
Conclusion
After this analysis, i am strongly convinced that the strengths outweighs the weaknesses and by a long way the opportunities outweighs the threats.
Shivom is not a project i would personally want to miss out on.
Official Contacts
Website: https://shivom.io/
whitepaper: https://shivom.io/files/Shivom-Executive-Summary.pdf
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=3204563.msg33263961#msg33263961
Telegram: https://t.me/projshivom
Twitter: https://twitter.com/projectshivom
Facebook: https://www.facebook.com/ProjectShivom
YouTube: https://www.youtube.com/channel/UC4vswPogwvVNgV_hmFkEHyQ
Steemit: https://steemit.com/@projectshivom
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