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A global genome-based platform company, MyGenomeBox, celebrates the 10th year anniversary event for the first block of bitcoin’s blockchain. As of January 3, 2019, at 00:00 UTC, the snapshot of bitcoin UTXO will be taken and addresses that contain bitcoins at that point in time can claim redemption of the number of myGeNome coin (GNC) matching the number of bitcoins they hold, until May 31, 2019. MyGenomeBox will use unclaimed coins to establish healthier coin ecosystem.
For the moment, 100 SNP (single nucleotide polymorphism) related to physical characteristics are selected to be colored into the GNC. A combination of just one hundred traits still ensures a high degree of the unique identification of one in 5 billion, even after excluding medically sensitive hereditary data and using only generic traits owned by 80% of the population. Encoding genetic data into GNC allows people to create their own avatar and even generates a token that contains celebrity’s appearance-related genetic information. But most importantly, GNC gives people global identification that is important in global supply chain finance.
To own GNC, people must own bitcoin on January 3, 2019. GNC will be available only through transactions between GNC owners since MyGenomeBox will not sell GNC to people. Furthermore, it will be difficult to obtain GNC cheaply since GNC has less quantity than bitcoin.
However, people can own 100 GNCs by spending $500 USD only. To get GNC, people need to hold bitcoin at the moment when bitcoin snapshot is taken. The approximate cost of buying 100 bitcoins is $400,000 USD, but people can dispose of bitcoins in one or two days, after January 3, 2019. As a result, the financial cost of $400,000 USD, if calculated at a high rate of 20%, will cost only $219 USD of interest cost per day.
Above everything, the most vulnerable point of this plan is that it is difficult for people to keep a level head under all conditions. People need to take the risk of bitcoin price fluctuation in one or two days. Bitcoin shows the most stable price graph among other cryptocurrencies, but the risk of lending $ 400,000 USD to own bitcoins for a long time is very risky.
For further information, visit www.mygenomecoin.com