With the exception of intermittent highs and lows in the cryptocurrency market, the media attention around blockchain technology has been levelling off since for the last couple of years, until now. In January 2018 the total cryptocurrency market cap reached a staggering all-time high of $831,000,000,000, ICO mania took the digital asset class into the stratosphere, and bitcoin became a household name.
Anyone following the industry would have lost count of how many articles were published about how groundbreaking blockchain technology was going to be, and how it was going to solve all of the world’s problems. So what happened?
Following the ICO hysteria of 2017, a swift and severe bear market that started in early 2018 exposed a hugely inflated and immature cryptocurrency market. Blockchain was a very exciting, but very new technology, with little in the way of tangible application.
Fast forward to 2020 and the teams behind the most promising blockchain projects of the ICO era are only just starting to see their tireless efforts translate into real-world solutions, as the technology becomes properly implemented into different industries. At the same time, a new derivation of blockchain technology in DeFi (decentralized finance) is taking the market by storm.
DeFi Market Boom
With an early boom comparable to that of the ICO craze, DeFi’s path within the blockchain is equally unpredictable but has as much potential for growth and huge investment returns, as any other new technology.
This potential has been quickly realized in the market, with new DeFi projects and tokens leading the way for the biggest investment returns, and newly listed tokens recording the same type of dizzying gains seen back at the peak of the market value.
Although DeFi’s potential has been reflected in the form of market optimism and some quick returns for investors, much like the first generation of blockchain startups the potential is not being fully realized. New investors are still being drawn into dishonest investments as they continue to get to grips with this new market.
Pharmaceutical Industry Inefficiency
The pharmaceutical industry has long been touted as one of the biggest potential benefactors of blockchain technology. The creaking giant has since long been fraught with deep-seated inefficiencies, which have been further exposed by the COVID-19 pandemic. With millions of lives at stake, the cost of poor infrastructure has never been greater.
Today the cost of getting a new drug onto the market is an eye-watering $2.5 billion, and the industry as a whole is losing over $8 million in lost revenue for every day a clinical trial is delayed. An unacceptable loss in funding that only further adds to the already severe delays in medicine production processes and pending vaccines patents
New medicine patents are backed up so much that it can take as long as 15 years to get them approved. And it’s not like these pharmaceutical companies are going to accept these losses, so vulnerable patients are often subjected to outrageous price hikes for crucial, life-saving drugs.
Companies still largely use centralized data storage, so fundamental and systematic data errors often go undetected and hamper progression. There is also a serious lack of any sort of collaboration between industry players, another issue that has been further exposed by the Covid-19 pandemic.
A Whole New Market
According to ClinicalTrials.gov, there are 3,115 studies currently registered which are investigating the coronavirus disease (COVID-19). Governments around the globe have pending contracts for a vaccine but with a stark number of inefficiencies in the pharmaceutical industry, and an inherent lack of collaboration between providers, no one really knows when a suitable solution will be available for mass production.
ClinTex: A Clinical Solution
ClinTex is a solution provider to the pharmaceutical industry that offers a totally new way of running clinical trials. The CTI (short for Clinical Trials Intelligence) platform uses cutting edge machine learning and AI to provide an all-inclusive, decentralized solution to share clinical trial data across the pharmaceutical industry.
This stands to save considerable costs, offer superior efficiency, and increase collaboration in the industry which benefits all of the people involved in the ecosystem. This saving in cost and time translates to the faster development of treatments, whilst maintaining regulatory standards. This benefit is crucial for the ecosystem to grow in value, and will secure more partner sign-ups.
ClinTex also has a Clinical Data Visualisation App that can locate/address fundamental and systematic errors in data, which results in greater insights, and superior data applications; a development paramount for long term industry progression.
ClinTex’s platform addresses long-standing issues in the pharma industry and has the potential to improve the lives of millions of people, with life-saving vaccines, make cross-collaboration more achievable, significantly decrease lead times for new drugs, increase data collection and storage immutability, and finally address the obscene cost of clinical trials for new drug development.
ClinTex are offering everyone the chance to purchase their CTi token at a 50% discount through their pre-sale. The money from the token sale will all go towards the further development of the platform, and help provide medical patients with unrivalled access to expedited and new, cost-efficient medicines. But with such a gap in the market, a strict $1,000,000 allocation, and all the potential ClinTex platform benefits, tokens are not expected to last long.
With the pharmaceutical Industry poised to pass $1.17 Trillion in 2021, and the demand for a viable COVID-19 vaccine bigger than any other mass produced drug in recent history, the potential return on investment for a vaccine, or indeed any other important clinical trials project could dwarf that of even the new DeFi market.
Visit CTi Pre-sale website