The EpigenCare Network uses data on known epigenetic skin quality indicators, consumer DNA, ingredient benefit data, and a database of beauty products to suggest skin care solutions.
By basing product recommendations on gene function or expression (rather than static genetics), epigenCare takes environmental variables into account, a strategy that correlates nicely to the function of skin care, and, one that translates to an ongoing service for consumers and an ongoing business for brands and, of course, for epigenCare too.
“This revolutionary business model promises to uniquely take advantage of the rapidly developing fields of epigenetics and blockchain to develop a database to solve the problem of product selection for personalized targeted skin care” explains the company's industry advisor Richard Wildnauer, who has in the past held executive positions at NeoStrata and Johnson & Johnson.
He goes on, in the company’s press release, to say that, “[The EpigenCare Network] reduces the costs and frustrations of multiple product trials by consumers, provides cosmetic companies with another tool to guide product development, and provides a basis for monetization by the consumer participants and EpigenCare.”
epigenCare has put together a next-generation business model meant to meet the needs of consumers, brands, and investors.
As the company’s press release explains, “skincare companies will be able to leverage the scientific-matching mechanism of the recommendation engine. These companies will target epigenetic profile segments with the opportunity to place their auto-screened products in the recommendation section of the consumer's test results.”
The company’s financial model is similarly future-forward: “EpigenCare is launching an Initial Coin Offering (ICO) to the public for its tokens in mid-March, seeking to raise $20 million USD. It is one of the only ICOs to offer a token that has been filed with the SEC as a security, thus giving the company legal capability to pay dividends to investors based on revenue.”
And, the company’s use of blockchain technology let’s epigenCare manage consumer-specific data both anonymously and intentionally. “By building a structured ecosystem with blockchain technology, consumers will be able to know that any data of theirs being sold is directly, voluntarily, and exclusively for their own benefit,” notes company CEO William Lee.
Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.