With the advent of blockchain — a single ledger for authorized users to view data and transactions — it was only a matter of time before it would be applied to healthcare by innovators within the industry. One such company seeking to apply the blockchain to healthcare is BurstIQ, which was founded in 2015 to solve some of the problems of data storage, privacy, and accessibility.
In the first year of its operations, BurstIQ processed 25 million data points. More than just a data repository, the platform established by the company allows patients to access and manage their data, and to exchange it for goods and services. Health providers can also use the platform to review the history of patients to better serve their needs. Additionally, researchers can use the blockchain to identify the users best suited for conducting further research. These are just some of the many benefits the blockchain has brought to healthcare for the company.
BurstIQ aims to use artificial intelligence or machine learning to gather data and provide solutions that will optimize treatment for individuals. Advanced software will allow the company to discover trends or gain insights that otherwise could not be obtained. Providing individualized treatment based on artificial intelligence is a part of what BurstIQ calls the “health singularity.” What the “health singularity” suggests is that treatment should be focused on the needs of individuals, given their unique lifestyles, medical and socioeconomic histories, and genetics. When it comes to healthcare, there is no “one size fits all” approach that works.
The BurstIQ platform, while providing greater access to important health information, also emphasizes security. The company uses cryptography and proprietary software methods to secure health information and prevent unauthorized access. BurstIQ understands the challenges of securing private health information and conforming to regulations such as HIPAA, and aims to make the storing and sharing of health information more efficient despite the difficulties they entail.
Companies with products to treat specific conditions can market them to the right individuals using the BurstIQ platform. BurstIQ can contact users of the platform who meet the criteria that marketers seek, and thus increase sales conversion for these companies. Users will be offered products and services that may benefit them based on their unique medical histories.
The BurstIQ platform also has the potential to build a community for users with common conditions and interests. Users can opt to share information with those with a similar condition or profile, and can opt to join research studies for conditions they have. Additionally, users can donate or sell personal data to companies or researchers. Most importantly, the BurstIQ platform will provide users with easy access to their own data, whereas today people often have limited access to it.
Given the history and success of BurstIQ as a viable company dealing with health data, it is a serious contender to lead the blockchain revolution in healthcare. The token that will be integral to the platform is BIQ. Given the proliferation of cryptocurrencies that lack a team with a clear or established background in their respective industries, BIQ stands out for having a team with plenty of experience and success in its field.
The BIQ token may usher in a new era of transparency in healthcare. Those who own the token can feel confident that they are contributing to the empowerment of people in managing their health data and getting the care that they need.
For more information about BurstIQ:
BIQ token crowdsale: https://biq.burstiq.com/