GenomicDAO designs a platform for three key stakeholders connecting:
- 1.Communities that initiate, drive, and govern precision medicine research for all members
- 2.Research groups that will advance noble healthcare causes based on actual medical needs
- 3.A marketplace for end users to get access to end products, including genetic insights, personalized recommendations, and precision medicine drugs
One DNA profile is only so valuable, but numerous ones with specific genetic variations can exponentially increase the value of each and the sum of all.
In a GenomicDAO, those who contribute their finances or genetic data are the ones who get a share of the revenue, not the “middlemen”. Yet at the same time, the entire community benefits from the development of novel precision drugs.
A research organization may demand specific datasets and the community can come together to generate them. The community will then demand a product, such as a precision drug, which arose thanks to that dataset; the research organization can then feed it back into the DAO.
DAO participants and users benefit financially and medically from the DAO. As word spreads, more users are recruited to the DAO via any combination of attraction to medical, financial, and/or emotional benefits. This creates a larger pool of data with which to work, creating more opportunities for financial distributions of wealth and medical breakthroughs, thus furthering the recruitment of ever more participants in a self-fulfilling manner.
Data owners are naturally afraid of losing their private genetic data or having it abused. The GenomicDAO is the only organizational structure that will allow them to fully control, legally own, transfer, and transparently monitor the use of their genetic information.
As a consequence, the amount and quality of genetic data that is accessible to data utilizers will increase. This means the data utilizers will have more means by which to conduct more research in order to create better pharmaceuticals in an efficient and productive manner.