Home DNA tests, which can be purchased at pharmacies, are becoming more popular every year. These tests can tell a person their family history and alert them to health problems. The DNA sample that people then throw away with the used test provides enormous value to scientific researchers. Despite this, many are reluctant to share their medical information with researchers. A group of scientists believes they have found a way to encourage them - cryptocurrency
Starting in the first quarter of 2018, users of these tests will be able to share this information in exchange for a cryptocurrency called Luna Coin. The idea is that people who help pharmaceutical companies develop drugs should be rewarded in an appropriate way. Since the explosion in popularity of Bitcoin, hundreds of cryptocurrencies have been created for all niches of the economy - from video games to the buying and selling of legal cannabis - so Luna-DNA is confident that Luna Coin will provide real value and benefit.
Luna-DNA is not the first project on the market to facilitate the transfer of data between pharmaceutical firms and consumers, and offer financial reward last. A couple of years ago, the “biorights” movement, which pays consumers cash in exchange for the results of their DNA tests, gained popularity. This is a much better deal than companies like 23andMe, which collect DNA data from their users but don't pay for it. Instead, 23andMe makes money only for itself by selling its users' DNA information to pharmaceutical companies like Genentech.
There are many obstacles to Luna Coin becoming a success. The company plans to launch a token sale in the first quarter of next year and hopes to raise more than $50 million. This means that Luna Coin is subject to stricter regulation. Next year, the US Securities Exchange Commission plans to strengthen its control over ICOs. The Commission is concerned that many companies view their tokens as a service or a service, thereby violating the law, which equates tokens with securities.
According to https://www.cnbc.com
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