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Weekly Update, June 27

While the crypto markets seem skittish lately, enthusiasm for our project continues to grow. This past week, we had a two day period in which we raised over 100 BTC, and one 24 hour period in which people bought nearly 70 BTC worth of future Gene-Chain tokens. Meanwhile, we’ve been working on placing our product, setting up nodes, and establishing the Gene-Chain as the gold-standard for genomic data sharing and security.

Last week I made a sales call to a large genomics company in Mexico. That visit was very gratifying. People in the field, companies dealing with genomic data on a daily basis, understand the responsibility they have in sharing the data they collect, and using it to the benefit of science while protecting individuals. Soon I am certain we will establish our first node and from there, we expect the chain-reaction, the network effect, to spur rapid adoption.

One question people in the crypto community ask often is: what value are Gene-Chain tokens to me as a buyer? There are a couple answers to this. One important reason is that once we sell our supply of tokens in the crowdsale, all our customers will go to the exchanges to get their tokens to conduct data transactions on the Gene-Chain. We honestly are not in the token business, primarily, and want free market principles to raise all boats on the tide of a growing Gene-Chain, including customers and supporters who will be holding tokens (and yes, our dev team will have their share). The dynamics of our sale are helping to ensure that buyers of all kinds can participate and not get shut out by Whales early on, though the push to get the 1 million bonus should make for some interesting dynamics as we near the end.

I’ve been on the VC/capital markets in the past, as we raised the 500k we got to start our company and build our prototype, and nothing could have prepared me for the satisfaction I get each time I open an email from a token buyer who is grateful for the ability to participate in our project, who might not otherwise have had access to investment opportunities, but who is eager to help us achieve the scientific and social goals that the Gene-Chain promises. It is a remarkable experience and I am grateful and humbled. Our entire team is working like mad, bouyed by the enthusiasm we receive from people around the world.

Our token sale has modest goals, because we have been frugal and there should be plenty of capital out there to make all sorts of great things, so we didn’t shoot for the moon. But we’re heading to orbit, and looking forward to relaying exciting news as the word spreads and the Gene-Chain grows.


David Koepsell

CEO & Founder

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