GENEXI: A Platform for Business Solutions
Q1 2017 Aleksei Zheliaskov, a serial entrepreneur who has built multiple successful companies in financial and real estate sector, founded GENEXI Biotech Accelerator and outlined its main business vector – supporting cutting-edge biotech projects and rewarding innovative research scientists who have dedicated themselves to the industry different from the conventional life-science paths.
Q3 2017 Mr. Zheliaskov formally announced the launch of sustainable, innovative ecosystem based on blockchain technologies – GENEXI Platform. GENEXI Platform is a niche digital space with a set of high tech solutions, through which manufacturers, distributors, and retailers can interact with each other by minimizing fraudulent activities of participants. Here blockchain helps to energize and unlock the sharing economy by making it cheaper to create and operate an online platform. The potential shake-up would significantly speed up transactions and increase transparency. Through GENEXI platform, biotech producers can focus on expanding sales of their existing products and significantly cut the production and distribution costs by creating mutually beneficial partnerships with distributors through multiple channels of interaction. The ecosystem is designed with security in mind so that no digital signature keys are stored in it.
The platform unites biotech producers, distributors, retailers, and end-consumers in one blockchain solution based globally operating Ecosystem. All transactions are recorded; location, quality, price, and other data is visible to all concerned parties. Utilizing the powers of the platform, a biotech producer can focus on development and production, significantly cutting the costs of marketing and consulting, and attract multiple distributors without having to establish a wide range of products first. At the same time, distributors and retailers will also gain advantages by obtaining access to a growing number of cutting-edge biotech-product within the GENEXI QA Control System. The GENEXI leadership reckon that platform users will benefit from both security and transparency, like payments, funding, monetization, and contract enforcement. Blockchain technology can enable frictionless monetization of content to better compete with pirates. Now the GENEXI team is focused on developing new marketplace functions: ‘We plan to activate the first platform iteration before the token sale is finished. The solutions will help platform users and our partners make a wise investment and budgeting decisions,” commented Ecosystem designer Dennis Sarkar.
All the transactions within the ecosystem will be processed via smart-contracts, thus preventing the necessity of middle-men and third-party services and vastly reducing the risk of fraud, all resulting in a significantly lower end price. In case of dispute, the parties can appeal to an Arbitrator for resolution. “Business rules are the same worldwide. Trust is a foundational element of business. A growing percentage of companies change their business methods and integrate blockchain, where there are no third-party intermediaries, no corporate manipulations, no unnecessary complexity,” noted GENEXI founder Aleksei Zheliaskov.
On June 1, 2018, GENEXI launched the sale of its utility token, GEN, which is essential for operating in GENEXI Ecosystem. GENEXI created ERC-20 GEN token to function as the fuel for the system economy. With the growth of the producers and distributors, the GEN token will become a multi-functional tool within the global market, allowing new participants to join the sharing economy of GENEXI. GEN token will let users procure various services and buy the products of projects that have been successfully launched within the platform. The main objective of GEN is value creation, and to make that happen, there needs to be a specific linkage between user actions and the resulting effects.
GENEXI Foundation, within a wide range of high-level biotech specialists to provide manual heuristic analysis for most detailed venture assessment and prognosis, is an essential part of the whole Ecosystem. GENEXI has established a partnership with leading research labs, institutes and scientists to select the most promising projects with the highest expected return rates. According to the founder, the mission is to establish a community and become the industry leader in biotech drug development driven by scientific vision and clinical acumen and supported by a distinguished clinical development team and advisors in order to research and manufacture medicine that is used in the treatment of various diseases.
Along these lines, GENEXI Platform is an innovative solution provided by the GENEXI Dev Team for the e-commerce market in order to support GENEXI Ecosystem development. Blockchain exhibits the potential to cut out energy companies, energy traders, and payment providers, making the system less costly and more efficient. GENEXI platform has a knowledge base about the products and participants. “All information and functionality will be available to users on the platform interface and through a mobile application. No special knowledge and expertise are required to work with Ecosystem,” says Alexey Nosikov, the Head of Operations in GENEXI.
“Today, people can be sorted into two camps: conservatives who deny the new technology and those who see the future clearly. Blockchain will fundamentally transform the business world. This isn’t even the future anymore — it’s our present. That is why it’s so important for entrepreneurs not to miss their chance and to get ready for this new reality in time”, announced the president of GENEXI Aleksei Zheliaskov.
The project’s ICO will last two months, until July 31, 2018. Over this period, GENEXI plans to raise 20 to 70 million US dollars. Twelve billion GEN tokens were issued in total, 70 percent of which will be available as part of the initial offering. Funds raised will go toward issuing grants to promising biotech projects, as well as toward research and development of the ecosystem and biotech products.
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