What is Block23’s proposition?

Block23 aims to be the platform for medical researchers to access very large, well annotated, personalized data sets in order to discover ground breaking treatments and clinically useful biomarkers for some of the world’s costliest diseases by utilizing Blockhain and AI technologies.

In order to accomplish this goal, Block23 will provide free genomic scans to more than 100,000 people as well as collect medical and fitness data on an ongoing basis in order to discover causal relationships on some of the major forms of cancer.

How does Block23 work?

Block23 deploys a ‘Personal Medical Lockbox’ (PMX) using Ethereum Smart Contracts technology. PMXs store hierarchically organized Profile and Health Data on the Ethereum Blockchain for each person.

Utilizing a Blockchain wallet app, each person receives a Blockchain address with profile and health data that is accumulated in a continuously-updated electronic PMX, under the exclusive control of the person.

Pharma and providers offer tokens in exchange for limited views into the person Lockbox, then use the insights obtained to guide interactions with shoppers based on their potential value or other relevant traits. Merchants make finer adjustments to their merchandising, marketing and promotions and issue highly-targeted offers deemed to have the best potential.

Because consumer profile data is decentralized, they automatically gain a degree of power in their retailer interactions. People with more spending power or with desirable purchasing behaviors gain more negotiating leverage, as many merchants compete over a share of their wallets.

What are Block23’s goals?

Block23 goals are to enable breakthroughs in cancer treatment by:

Developing precision medicine in the area of cancer research.

Become the agent for bringing precision medicine to all areas of health and healthcare on a global scale. In order to achieve this goal, Block23 will provide an app for people to connect their data to the blockchain with crypto tokens that will be used to order genetic scans and other cutting edge tests from a world-wide partner network.

 Providing researchers with AI tools that data mine, analyze and share large sets of medical data.

Researchers can access a registry of data collected all over the world and from communities that have unique attributes as well as a data model that uses deep neural networks that continuously learns and adapts to new data sets, giving the capability to study a large range of diseases, predicting disease risk, how diseases occur, and finding improved diagnosis and treatment strategies.

 Building a trust partnership of people, scientists and institutions

Provide the opportunity for millions of people to contribute to the advancement of scientific research while protecting research participants, patients’ privacy and the confidentiality of their data and bringing them together with scientists in a wide range of specialties, as well as universities, research Institutes, pharmaceutical and biotechnology companies, and others participants.

What are PMX tokens?

PMX are tokens issued by Block23 and used by pharma-health care providers for access to people’s health and genomic data and for special offers on good and services.

How are PMX used?

Once people acquire PMX from pharma-health care providers, either for access to their personal and historical data or as a result of rewards on purchases, people can use PMX to purchase goods and services with any participating provider.

What do Block23 tokens represent?

PMX are utility tokens intended for use on the Block23 platform, a Blockchain based Genomics platform for providing people services in exchange for health care service providers. Ownership of the PMX tokens implies no rights other than the right to use them as a means to obtain provider services and products on the Block23 platform, and to enable usage of and interactions with the platform, if successfully completed and deployed. The PMX tokens do not represent or confer any ownership right, share or security or any other equivalent rights, nor any right to receive future revenue shares, intellectual property rights or any other form of participation in or relating to the Block23 platform, and/or Cyscom Ltd., ShareMyInsight and its affiliates.  The tokens are not refundable and are not intended to be a digital currency, security, commodity or any other kind of financial instrument.

Additional information regarding the utility of PMX is available in the terms and conditions.

Who uses PMX?

PMX participants are people-patients, pharma-health care providers and developers-researchers who use and exchange PMX:

  • People-patients give limited access to their data in exchange for tokens; also, use tokens to purchase goods and services
  • Pharma-health care providers buy PMX tokens with ETH and pay people for data access; also, receive tokens from people when making purchases and give tokens as a loyalty reward
  • 3rd party developers and researchers that use the Block23 platform for developing Deep Learning algorithm to detect patterns in cancer events; additionally research institutes who need to use the Block23 infrastructure for analyzing their data and tools for investigating results.
Are PMX transferable and tradable?

There are no restrictions or limitations on the usage of PMX.  PMX can be transferred to a friend’s wallet, used for purchases with different health care providers and exchanged for other crypto currencies.

How will the token launch work?

For the Block23 token launch, 1.5 Billion PMX tokens will be created of which 60%  or 900 Million will be offered for purchase.

A purchase limit per person will be in effect to provide equal access to all contributors during the first twenty-four (24) hours of the token sale. The purchase limit will be based on the number of tokens divided by the total number of persons who have completed registration.  After the first twenty-four (24) hours of the token sale, the purchase Limit will be removed.

What is the amount of PMX to be raised?

Summary as follows:

  • Maximum funds raised: 900 Million PMX (subject to change in exchange rate)
  • Minimum financing: 200 Million PMX
  • Rate of exchange rate: 1 ETH = 7,200 PMX (subject to ETH/USD changes in exchange rate)
  • Token contract address: To Be Announced
  • Launch date and time: To Be Announced
  • Token launch time-frame: 30 days
  • Token launch completion: token launch will end when either the maximum number of PMX are raised or 200 Million PMX are sold. If less than the minimum PMX are raised, ETH will be returned to the sender’s address.
How will tokens be distributed?

Prior to the start of sale period, the smart contract system will release a pre-allocated amount of 600 million PMX to Block23, of which:

  • 300M will be provided to as compensation employees, contractors, and other activities connected to deployment and platform development.
  • 300M will be allocated as a growth fund to incentivize people to use PMX to purchase a genomic scan.

A separate amount of 900 million PMX will be allocated for sale to registered buyers during the sales period. All PMX tokens will have the same equal value and possibilities of usage.

How will the token sale proceeds be used?

The main usage from token sales are summarized as follows:

Free Genomic Scans – 30%

Block23 will provide tokens to pay for free genomic scans for up to 100,00o people in designated, targeted populations.

R&D – 20%

Platform development will be focused on AI development, researcher analytical tools, core smart contracts and security, user wallet, management interfaces, customization  and integrations with crypto exchanges.

Marketing -15%

Marketing activities will be focused primarily on the Open Development Platform and growing an AI developer community focused on genetics and cancer research.

Reserve Fund – 15%

15% of Ether received will used as a reserve fund for supporting PMX and ensuring liquidity.

Business Development – 10%

Business development efforts will identify and form partnerships with pharma, health care providers, insurance partners.

Misc. – 10%

Admin, legal and contingency.

What crypto-currencies will be accepted during the launch?

Ether is used to purchase PMX at the token sale.

What is the Block23 smart contract address

To Be Announced

What is the usage model of PMX over time?

Whereas forward-looking speculators may try to regulate the supply of tokens which can increase the token’s rate of exchange in a short time period, the exchange rate becomes more influenced over time by the token’s utility and adoption instead of a speculative view. This dynamic has been observed in more mature virtual currencies and even though models are imprecise, this model presents a view for long term price stability as a result of token usage.

The price volatility and liquidity of PMX will be mitigated by the following factors:

  • By service providers purchasing PMX to give to people in exchange for access to their Health Data Profile
  • When people are given relevant and attractive PMX denominated service provider deals
  • From a reserve ETH fund that will be used to maintain PMX liquidity
  • By an increasing adoption as developers and scientists create their own ‘Genomics AI’ using the Block23 platform

The following charts illustrate a utility model based on usage of PMX. The assumptions are based on adoption rate by consumers and merchants, as well as the exchange of goods and services with PMX.

Chart #1 : PMX net inflows over time

PMX outflows are from PMX holders exchanging PMX for other crypto. PMX inflows are the amount of PMX purchased by health care providers and sent to people in exchange for their Health Data Profile. The chart indicates that PMX inflows are positive and are in proportion to the increased adoption by people and industry providers.

PMX outflows are from people exchanging PMX to ETH or other currency vs. usage for purchases from providers. PMX inflows are the amount of PMX purchased by industry providers and sent to people in exchange for their Health Data Profile and as a token for purchases of goods and services.

What is the relationship between Block23 and SMI?

Cyscom Ltd.’s AI platform known as ShareMyInsight (SMI) is used by big data analysts in the retail and health care industry. Cyscom has provided a perpetual license free of any costs to Block23 for the use of its IoT and AI platform and applications. Cyscom will also act as 1 of many other partners who will commercialize Block23 in the health care sector.

How are SMI technologies and applications work together with Block23?

The SMI platform and apps will be extended by a Blockchain module that enables people’s health data to be stored and saved on Ethereum smart contracts. Additionally, SMI’s  infrastructure, master data management with ETL,  AI and analytical tools will all be used for detecting patterns on hundreds to thousands of personal attributes from available data sources.

What is the value of SMI’s technology contribution?

Block23 will receive an IP transfer for unlimited usage of technology and products, valued at $40M USD. The IP and products include the AI and IoT platforms, sensor products, applications, utilities and more, all of which are described in section 3 and on the SMI site (http://www.sharemyinsight.com). Additional IP and products will be made available on the same royalty free terms and conditions. Expressed over 3 years, the SMI founders estimate the IP contribution to be $150M to $200M USD, based on IP evaluation and discounted future sales revenues.

What are some of the partners that will create demand for PMX?

Partners with global reach such as Rennova Health, Oxford University, Genomas, Collaborx and other partners have significant penetration into the global health industry. In addition, new potential partners in pharma sector have a major interest in Block23 for drug trial development. Partner financial revenue forecasts of $ 513 M in year 3 (see the White Paper – section 9),

What is the Block23 road map?

The Block23 development road map can be downloaded here

Where can I find the Whitepaper?

Download the white paper here