EpigenCare proposes blockchain-based personalized skincare solution
Another company has decided to gain in on the crypto hype by announcing the launch of a blockchain based platform to revolutionize the skincare industry. EpigenCare uses epigenetic techniques and the blockchain technology to create personalized skincare products.
New York-based Epigencare Inc. has come up with a blockchain-based solution to provide truly personalized skincare products. The project combines Ethereum's ERC20 tokens' technology and epigenetics to fulfill consumers’ skincare needs. They gather epigenetic-based skincare data from DNA analysis' results of various users. This data is then used to recommend appropriate skincare products or routines that best match each user’s skin type and behavior. In this procedure, the blockchain technology is employed to maintain the anonymity and transparency of consumers’ data. It will ensure that personal data is used only for the user’s own benefit. Furthermore, it allows the company to build the ‘Epigen Network’, a modeled data platform for skincare-related companies. Relevant product manufacturers and retailers can access the results from accumulated data on this network. They can use these results to create more user-oriented products and advertise them for specific skin types. The use of the blockchain here ensures that companies utilize personalized data professionally and responsibly. The huge skincare market is currently valued at $180 billion. A wide variety of products are offered to consumers. The demand for personalized skincare products has massively grown over time. This is because personalized skincare protects users from trying out multiple products before deciding on the best match. Manufacturers and suppliers have deployed various techniques to come up with such products. Some provide in-store consultation to buyers, while some use consumers’ genetic data to suggest suitable products. This data, collected via DNA tests, doesn't reflect dynamic changes of the skin and thus, does not help in the production of wholly personalized solutions. EpigenCare uses epigenetic, rather than genetic, data to come up with practical solutions. Epigenetic data measures dynamic changes of the skin. It reveals factors like moisture retention, sensitivity response, and pigmentation of a skin type and assesses its behavior against aging and environmental changes. Products created on the basis of such data are actually personalized. Consumers, who buy this epigenetic-based skincare test, will be shipped a DNA collection kit. They can gather DNA from their skin non-invasively and then mail it back to the company. The company later sends the report to the customer after several weeks. Consumers can also track and measure the progress of their skin once they start using the recommended products via a blockchain-based system. EpigenCare will be launching via an Initial Coin Offering (ICO) in mid-March. The company hopes to raise $20 million via its token sale. Each token, EPIC, has an initial value of $0.40 and has been filed with the US Securities and Exchange Commission (SEC) as a security. Get the latest market information for all tokens and coins with Cointelligence's cryptocurrency list.