Most people consider their health and that of their loved ones to be their number one priority. However, we have relied far too long on generic healthcare delivery.
As we hurtle forward in this digital era, technological advances are not only uncovering better treatment methods and more effective medicines but also revolutionizing how clinicians personalize them to each patient. Today, we can receive medical attention specific to our genetics, lifestyle, and environment.
The key to this revolution is information, and at the core of the revolution is BurstIQ.
Your Medical Data, Organized
It would be a gross understatement to say that BurstIQ specializes in data. The company has developed a unique blockchain-based platform to collate, organize, and retrieve a wide range of medical data, and present it in the most effectual manner to each touch point in the healthcare network.
It gives the patient complete access to, and ownership of their data while enabling companies to connect, develop, and commercialize their healthcare applications, platforms, and services.
Not only does this empower individuals with their personal medical information, it also allows them to voluntarily share it with specific care providers and research entities if it suits their own needs. This has created an unparalleled channel for direct communication between researchers and individual patients that has the potential to make medicine and treatment more personal, precise, and effective than ever before.
To deliver this range of features, BurstIQ’s proprietary platform exploits blockchain technology and machine intelligence to gather data from disparate sources into a single, unified repository of data. The company has invested considerable resources to ensure that the information can be retrieved and shared quickly and easily while maintaining strict security standards.
At the heart of the BurstIQ platform is a desire to foster and promote interaction and collaboration between all entities involved in every aspect of healthcare. This starts with the individual patient and branches out to clinics, hospitals, pharmacies, pharmaceuticals, health equipment manufacturers, insurers, and more.
Patients can choose to share as little or as much of their personal data as they desire with these institutions and companies. As a reward, they can enjoy complimentary or discounted medication and treatment, participate in clinical trials, obtain all-round support, and benefit from reduced insurance premiums.
However, the system’s biggest advantage is that healthcare can be personalized to the individual patient. Biotech and pharmaceutical companies will be able to identify participants with the ideal profiles for their clinical trials using genomic and proteomic information. The limitations of geography and economic status will become irrelevant.
The potential for cooperation extends beyond just the patient-provider nexus; BurstIQ’s platform also facilitates interactions between companies and organizations at other points along the healthcare chain. It is the ideal environment to encourage more collaboration between researchers and is poised to usher in an era of unsurpassed medical progress.
The concept of using technology to create a medical ecosystem is not new in itself; electronic health records and similar software have been part of the medical landscape for many years. However, BurstIQ is the world’s first and only true combination of blockchain, Big Data and machine intelligence in the industry.
The company’s competitors still store data in traditional, off-chain data warehouses whereas the BurstIQ platform allows large data sets to be stored and analyzed on-chain. Because blockchain is inherently open and transparent, BurstIQ has supplemented the system with bestin-class security features that far exceed HIPAA requirements.
The adage ‘Necessity is the mother of invention’ holds very true in the case of BurstIQ.
Before starting the company, its Founder and CEO, Frank Ricotta was stunned to receive three separate notices that his personal data had been compromised. A violation of that nature has the ability to inspire a rethink, and Frank was just the man to do it.
“I’ve had a lifelong passion for combining security and cooperative intelligence to solve very hard problems,” he says, “This passion has carried forward through my entire career.”
That career had been spent in cybersecurity, machine intelligence, and high-capacity networks. Beginning with a rudimentary AI application in the mid-1980s, Frank has gone on to work on advanced military-grade high-capacity networks and cryptographic solutions for the U.S. Air Force.
He also led the development of security and network solutions for the healthcare sector at Recondo Technologies, and he was working there when the breach of his personal data spurred him to action. He left Recondo in late 2014 and started working on concepts for a nextgeneration privacy solution for the healthcare industry.
BurstIQ was officially founded in April 2015 with an initial seed round of $250,000 from PV Ventures. Frank, together with co-founder, Brian Jackson, and Chief Data Scientist, Tyson Henry, have built the BurstIQ platform into the end-to-end enterprise blockchain solution that forms the foundation of the business.
Success through Diversification
The BurstIQ platform has already found tremendous success by allowing large enterprises to leverage its blockchain data as a way of boosting their internal data capabilities. Now, the company has opened a Series A private equity and token offering to accelerate growth with B2C and SMEs.
At the end of the Series A, the platform SDK will be opened to a broad developer community which will facilitate the launch of the marketplace side of the platform. This stage will significantly increase individuals’ engagement with their own data and stimulate the creation of health-related products and data exchanges.
In this way, BurstIQ is laying the groundwork for more medical progress in a shorter timeframe than was ever possible before. It is a scenario where everybody wins.