[ANN] BurstIQ (BIQ)💚 💢 💚 ▐ A Marketplace for Health Data & Services▐ 💚 💢 💚

[brian.jackson]

Really cool having a major publication doing a writeup about BurstIQ

BurstIQ: Leveraging Blockchain and Big Healthcare Data

https://www.equities.com/news/burstiq-leveraging-blockchain-and-big-healthcare-data

[BurstIQcorpdev]

Hi tempus,
I apologize for the delay. As Brian noted, we are in Nashville for the Distributed Health conference. I'll try to answer your questions one by one:

Blockchain:

How I understand it so far there won't be inflation of the token, right?
The token’s valuation is based on supply-and-demand as generated on the Platform and exchanges.  There will be no artificial inflation of the token itself by BurstIQ.    

What will be the incentive to secure the underlying Blockchain/Burstchain?
The incentive for securing the Platform is dictated in the permission blockchain arena by legal and ethical enforcement.  If you a a more specific question we will try to answer.

Will it be a truly decentralized system or more like a private Blockchain?
Currently the platform is a permissioned blockchain (private distribution).  As the platform evolves and the other encryption techniques are productionalized (see white paper), the plan is to allow for non-permissioned (public distribution) of the Burstchain.  

Will the project, at least the Blockchain, be Open Source?
Currently, the source code is not open source.  However, we are evaluating some options around open sourcing parts of the Platform.


Business-model:

I understand the basics of the economical system of the platform, and I like it - but what is the business model of the company behind?
Our business model has two primary revenue sources for the company: BurstIQ takes a small percentage on all BiQ transactions on the platform, and we have strategic partnerships (co-development, marketing and/or distribution) with revenue sharing or royalty provisions.  In terms of our roadmap, our first priority is to grow the ecosystem – bigtime. We’ve been heads-down in development mode for the last two years, and during that time, we partnered with a number of large business customers to validate the platform and make sure the core capabilities were sound. Now that the platform is operational, we’re ready to grow. Our next big development milestone is to add the consumer interface, so that people can start going onto the platform and controlling their own data. That's why we're doing this BiQ token sale. The BiQ token will be the currency for all transactions on the BiQ Ecosystem, from data queries to buying products and services to donating data for research. By offering BiQ tokens now at a discount, we can start building a community of early adopters for when the BiQ Ecosystem launches in early 2018.

Regarding the Token Sale:

Is there any source to keep track of the sale, about how much already was sold etc.?
For the public crowdsale, yes we plan to have a tracking system of tokens sold and goals obtained.  We have not released info about our pre sales at this time.

Is there a minimum cap?
We did not set a minimum cap.

What would happen with unsold tokens in case the crowdsale would not be sold out?
The unsold tokens would be placed back into the BurstIQ pool for a possible use at a later date.

Would be great to get answers on my question. I really like the idea and I have not much doubt about the expertise of the team. What I'm a bit critical about is the lack of deeper infos. The legal documents seem to be longer than the whitepaper - obviously you have very good lawyers! ;-)  

As for the legal, yes we have retained Cooley for our legal team and I would agree they are very long, but we are following the advice or our legal team.

I hope that helps. If you have any other questions, please don't hesitate to ask.

Many thanks for the reply and no need to apologize. Very understandable that there is a lack of time if you guys are on a conference.

To clarify my question regarding "incentive to secure the blockchain" - it's meant economically. The Bitcoin-protocol pays BTC to the miners. Other blockchains have similar designs. I understand that it will not start as a decentralized system, so it's not a topic for now. But since you say that it's a goal to decentralize the system and that there will be no inflation of that kind, I don't understand how to pay those who would run and secure a decentralized blockchain.  


Why I asked those questions in general is because: This project could very well turn out as a pearl between all the crap that is hyped up in this space. It doesn't get much attention until now, what is not a contra for me personally. Usually I try to find projects I believe to see longterm potential in, while being under the radar of a majority.

But, my concern is: You say that there is no minimum-cap, what would mean in worst case that you might get much less than anticipated and needed. Let's say, as extreme scenario: Only $3 millions. That would be a limitation of possibilities. You also say that the crowdfunding won't be a decision about the total supply - all what won't be sold will go back to the company. The total supply multiplied with ICO-price is not cheap. I don't even say it's not justified - hard to ever make such estimations and your project is obviously farer developed than a lot of others that only start as concepts. But it's at least a consideration that you'll need additional crowdfunding rounds or maybe to sell on an exchange once/if your token gets listed. Result would be pressure on the price.

While I like a lot about this project, that is something that makes it a bit unpredictable.


Is there any Plan B in case that you don't reach something like a minimum goal and how to proceed in such a case? I'm sure that you know pretty well what you need for certain scenarios from "at least" to "best case".


Btw, what I said about the legal documents wasn't meant critical. Actually I see that as a sign of professionalism, even if scary ;-)

Thank you for all your questions.  As you have said the current implementation is a trusted peer based system.  BurstIQ or a provider will be hosting the system just as we are today, due to the fact that patient data (PHI) must be secure and encrypted.  All public blockchains are transparent and do not provide the required level of protection.  That is where our permissioned blockchain solves out for PHI data.  As the platform evolves along the published roadmap, the ability to publicly distribute the nodes securely will mature. At that time we will release the public version.  We have also enabled a large-scale analytics functionality on our blockchain that allows queries to scale at nosql speeds.  We have obtained our first phase patent on this design.
 
As for the plan B, you are correct that current ICO/crowdfunding projects projections are hard to exactly plan outcomes.  We have put together a high level plan for different funding amounts.  Anything in the 2-6 million dollar range puts us in the acceptable range moving forward.  Acceleration plans come in the 10M, and 20M range, and the moon shot comes in the 50M range.  Our offices are in the health care mecca for IT right now (Denver, Colorado), and have a very good footprint and following with the local community.  We plan to use a portion of the proceeds to invest in other healthcare startups and healthcare technologies to expand the number of solutions on our platform into the  100s and eventually, 1000s of applications and services.
 
We currently have two large universities on the platform, (UCHealth and UTMB) and are actively integrating two other large-scale health systems (hope to be able to announce soon, again legal). We are also working with 3-5 other large-scale hospitals.  We will publish a press release in the next few days announcing a partnership with a vendor that would connect us to all the major healthcare insurance providers and would put millions of users on the platform.  (Stay tuned for that press release.)
 
If this crowdsale only hits our minimum, we would just not be able to scale as fast as we would with large raises of tokens.  But again, we are already profitable.  This token sale is more to accelerate the development and adoption of the consumer version of the platform.

[BurstIQ]

Smith and Crown Press Release



"We are honored that the independent analysts at Smith & Crown had this to say about us: “BurstIQ plans to provide a marketplace for exchanging health information and offering products and services, where control and access rights over the data lies with the individual who can choose with whom to share their data and for how long, or whether to sell their data or donate it to a project or study they support. This represents an innovate aspect of the platform, insofar as it represents a unique intersection where Individuals, research institutions, and pharmaceutical or other medical related companies can identify either studies they would like to participate in or appropriate subject populations for trials and research projects.”

Check out what else Smith and Crown had to say about us here!

[fricotta]

Smith and Crown Press Release



"We are honored that the independent analysts at Smith & Crown had this to say about us: “BurstIQ plans to provide a marketplace for exchanging health information and offering products and services, where control and access rights over the data lies with the individual who can choose with whom to share their data and for how long, or whether to sell their data or donate it to a project or study they support. This represents an innovate aspect of the platform, insofar as it represents a unique intersection where Individuals, research institutions, and pharmaceutical or other medical related companies can identify either studies they would like to participate in or appropriate subject populations for trials and research projects.”

Check out what else Smith and Crown had to say about us here!

https://www.smithandcrown.com/wp-content/uploads/2017/07/Data-paper-935x280.jpg

Smith+Crown agressively gaurds their independence.  To even be considered for analyst coverage such as this a company must pass a extensive due dilligence process.  No way to buy something like this.   

[tempus]

Hi tempus,
I apologize for the delay. As Brian noted, we are in Nashville for the Distributed Health conference. I'll try to answer your questions one by one:

Blockchain:

How I understand it so far there won't be inflation of the token, right?
The token’s valuation is based on supply-and-demand as generated on the Platform and exchanges.  There will be no artificial inflation of the token itself by BurstIQ.    

What will be the incentive to secure the underlying Blockchain/Burstchain?
The incentive for securing the Platform is dictated in the permission blockchain arena by legal and ethical enforcement.  If you a a more specific question we will try to answer.

Will it be a truly decentralized system or more like a private Blockchain?
Currently the platform is a permissioned blockchain (private distribution).  As the platform evolves and the other encryption techniques are productionalized (see white paper), the plan is to allow for non-permissioned (public distribution) of the Burstchain.  

Will the project, at least the Blockchain, be Open Source?
Currently, the source code is not open source.  However, we are evaluating some options around open sourcing parts of the Platform.


Business-model:

I understand the basics of the economical system of the platform, and I like it - but what is the business model of the company behind?
Our business model has two primary revenue sources for the company: BurstIQ takes a small percentage on all BiQ transactions on the platform, and we have strategic partnerships (co-development, marketing and/or distribution) with revenue sharing or royalty provisions.  In terms of our roadmap, our first priority is to grow the ecosystem – bigtime. We’ve been heads-down in development mode for the last two years, and during that time, we partnered with a number of large business customers to validate the platform and make sure the core capabilities were sound. Now that the platform is operational, we’re ready to grow. Our next big development milestone is to add the consumer interface, so that people can start going onto the platform and controlling their own data. That's why we're doing this BiQ token sale. The BiQ token will be the currency for all transactions on the BiQ Ecosystem, from data queries to buying products and services to donating data for research. By offering BiQ tokens now at a discount, we can start building a community of early adopters for when the BiQ Ecosystem launches in early 2018.

Regarding the Token Sale:

Is there any source to keep track of the sale, about how much already was sold etc.?
For the public crowdsale, yes we plan to have a tracking system of tokens sold and goals obtained.  We have not released info about our pre sales at this time.

Is there a minimum cap?
We did not set a minimum cap.

What would happen with unsold tokens in case the crowdsale would not be sold out?
The unsold tokens would be placed back into the BurstIQ pool for a possible use at a later date.

Would be great to get answers on my question. I really like the idea and I have not much doubt about the expertise of the team. What I'm a bit critical about is the lack of deeper infos. The legal documents seem to be longer than the whitepaper - obviously you have very good lawyers! ;-)  

As for the legal, yes we have retained Cooley for our legal team and I would agree they are very long, but we are following the advice or our legal team.

I hope that helps. If you have any other questions, please don't hesitate to ask.

Many thanks for the reply and no need to apologize. Very understandable that there is a lack of time if you guys are on a conference.

To clarify my question regarding "incentive to secure the blockchain" - it's meant economically. The Bitcoin-protocol pays BTC to the miners. Other blockchains have similar designs. I understand that it will not start as a decentralized system, so it's not a topic for now. But since you say that it's a goal to decentralize the system and that there will be no inflation of that kind, I don't understand how to pay those who would run and secure a decentralized blockchain.  


Why I asked those questions in general is because: This project could very well turn out as a pearl between all the crap that is hyped up in this space. It doesn't get much attention until now, what is not a contra for me personally. Usually I try to find projects I believe to see longterm potential in, while being under the radar of a majority.

But, my concern is: You say that there is no minimum-cap, what would mean in worst case that you might get much less than anticipated and needed. Let's say, as extreme scenario: Only $3 millions. That would be a limitation of possibilities. You also say that the crowdfunding won't be a decision about the total supply - all what won't be sold will go back to the company. The total supply multiplied with ICO-price is not cheap. I don't even say it's not justified - hard to ever make such estimations and your project is obviously farer developed than a lot of others that only start as concepts. But it's at least a consideration that you'll need additional crowdfunding rounds or maybe to sell on an exchange once/if your token gets listed. Result would be pressure on the price.

While I like a lot about this project, that is something that makes it a bit unpredictable.


Is there any Plan B in case that you don't reach something like a minimum goal and how to proceed in such a case? I'm sure that you know pretty well what you need for certain scenarios from "at least" to "best case".


Btw, what I said about the legal documents wasn't meant critical. Actually I see that as a sign of professionalism, even if scary ;-)

Thank you for all your questions.  As you have said the current implementation is a trusted peer based system.  BurstIQ or a provider will be hosting the system just as we are today, due to the fact that patient data (PHI) must be secure and encrypted.  All public blockchains are transparent and do not provide the required level of protection.  That is where our permissioned blockchain solves out for PHI data.  As the platform evolves along the published roadmap, the ability to publicly distribute the nodes securely will mature. At that time we will release the public version.  We have also enabled a large-scale analytics functionality on our blockchain that allows queries to scale at nosql speeds.  We have obtained our first phase patent on this design.
 
As for the plan B, you are correct that current ICO/crowdfunding projects projections are hard to exactly plan outcomes.  We have put together a high level plan for different funding amounts.  Anything in the 2-6 million dollar range puts us in the acceptable range moving forward.  Acceleration plans come in the 10M, and 20M range, and the moon shot comes in the 50M range.  Our offices are in the health care mecca for IT right now (Denver, Colorado), and have a very good footprint and following with the local community.  We plan to use a portion of the proceeds to invest in other healthcare startups and healthcare technologies to expand the number of solutions on our platform into the  100s and eventually, 1000s of applications and services.
 
We currently have two large universities on the platform, (UCHealth and UTMB) and are actively integrating two other large-scale health systems (hope to be able to announce soon, again legal). We are also working with 3-5 other large-scale hospitals.  We will publish a press release in the next few days announcing a partnership with a vendor that would connect us to all the major healthcare insurance providers and would put millions of users on the platform.  (Stay tuned for that press release.)
 
If this crowdsale only hits our minimum, we would just not be able to scale as fast as we would with large raises of tokens.  But again, we are already profitable.  This token sale is more to accelerate the development and adoption of the consumer version of the platform.

Okay, thank you for the answers!

[brian.jackson]

Smith and Crown Press Release



"We are honored that the independent analysts at Smith & Crown had this to say about us: “BurstIQ plans to provide a marketplace for exchanging health information and offering products and services, where control and access rights over the data lies with the individual who can choose with whom to share their data and for how long, or whether to sell their data or donate it to a project or study they support. This represents an innovate aspect of the platform, insofar as it represents a unique intersection where Individuals, research institutions, and pharmaceutical or other medical related companies can identify either studies they would like to participate in or appropriate subject populations for trials and research projects.”

Check out what else Smith and Crown had to say about us here!

Have to say this is pretty amazing.  Smith & Crown do very few write ups on token sales.

[fricotta]

Sitting through a number of sessions at the Hashed Health Distributed Health Conference.  Common theme.  Industry needs the ability for the individual to managed, control, and use their health data.  Specifically, industry needs the ability to support patient consent.  It is great to see so many rally behind developoing a consent based solution.  This is an international requirement.  We recognized this need a while ago, that's why we developed our informed consent contract functionality.  We've had a tremendous positive response ref what we're doing from some pretty signficant players.  We are definately ahead of others.  But we all agree, blockchain based solution is the only real way to manage consent at scale.

[brian.jackson]

BurstIQ and iCan Announce Strategic Partnership to Offer Complete Portfolio of Insurance Products to BiQ Holders

As promised a major partner announcement with one of the largest insurance resalers in the country that will bring millions of users onto the BurstIQ platform using the BIQ tokens.

“iCan has consistently been rated as one of the top insurance sales firms in the country. They were pioneers in the use of bundled benefits and we are thrilled to be collaborating with them to transform health access,” says Frank Ricotta, chief executive at BurstIQ. “There is so much buzz about how blockchain might be able to change the healthcare industry. This is a perfect example of how it is changing the industry.”

http://www.globenewswire.com/news-release/2017/09/26/1132980/0/en/BurstIQ-and-iCan-Announce-Strategic-Partnership-to-Offer-Complete-Portfolio-of-Insurance-Products-to-BiQ-Holders.html

[cryptojeebus]

I am an investor in Patientory and Bowhead Health. How do you differentiate yourself from these two? Or at least the first one, which is more of a direct competitor, I believe. And pardon me, if this has already been discussed. I can't read 10 pages of a forum that easily

[brian.jackson]

I am an investor in Patientory and Bowhead Health. How do you differentiate yourself from these two? Or at least the first one, which is more of a direct competitor, I believe. And pardon me, if this has already been discussed. I can't read 10 pages of a forum that easily

Thanks for your comment.  We really don't see either as a direct competitor.  We are probably closer to Gem.

Patientory is essentially a personal health record (PHR), which allows you to aggregate and share your data with providers. What Patientory and other PHRs don’t do is allow users to collaborate, partner and network through an ecosystem. Some examples: With BurstIQ, you can discover new products and services that use your data (with your permission) to provide you with personalized products and services. You can choose to share your data with researchers working on diseases or other areas that are of particular interest to you. There are a million different things you could choose to do with your data, but all of them are under your complete control. As the ecosystem grows, so will the possibilities of how you could put your data to work for you. This is also insanely helpful for companies who need data to support their products or reach customers, but typically can't get it at all (or have to go through 9 months of integration - with each partner). With BurstIQ, they can access data directly and immediately from people who want to share it with them.

We think this has a much larger opportunity because we are supporting both consumers who want to control their own data and businesses who want to access data, customers, etc. The platform is also designed to intake any data type, so while we're starting with healthcare, we could eventually go into other areas where data access and ownership is important: education, energy, water, etc.

[brian.jackson]

I am an investor in Patientory and Bowhead Health. How do you differentiate yourself from these two? Or at least the first one, which is more of a direct competitor, I believe. And pardon me, if this has already been discussed. I can't read 10 pages of a forum that easily

Bowhead has created a medical device that performs at-home biometric testing and uses the test results to create personalized vitamin and supplement packages. Their data capture and sharing capabilities are focused specifically on IoT device data, not Big Data applications.

The BurstIQ platform combines blockchain with Big Data capabilities, machine learning, and advanced security protocols to enable complex, highly sensitive data (of any type) to be managed, permissioned and shared without compromising security and privacy. We have built an ecosystem on top of this platform that: 1) allows people to access their own data, control who else can use it or see it, use it to access products and services that interest them, participate in research, etc. and 2) allows companies to find and engage with customers who would benefit from their products, build research / clinical trial cohorts, partner with other companies, build deep learning and AI tools, create personalized products and services, and lots of other possibilities.

Bowhead Health would actually be a great partner to join the BurstIQ ecosystem. The ecosystem would give them access to lots of other types of data that could enhance their personalization algorithms, it would give them end-to-end data management of the biometric, supplement and compliance data, and it would significantly expand the options for how their users could choose to gain value from their biometric data.

[BurstIQ]

The Public Sale Is Here!

Join the Health Singularity

[fricotta]

BurstIQ and iCan Announce Strategic Partnership to Offer Complete Portfolio of Insurance Products to BiQ Holders

As promised a major partner announcement with one of the largest insurance resalers in the country that will bring millions of users onto the BurstIQ platform using the BIQ tokens.

“iCan has consistently been rated as one of the top insurance sales firms in the country. They were pioneers in the use of bundled benefits and we are thrilled to be collaborating with them to transform health access,” says Frank Ricotta, chief executive at BurstIQ. “There is so much buzz about how blockchain might be able to change the healthcare industry. This is a perfect example of how it is changing the industry.”

http://www.globenewswire.com/news-release/2017/09/26/1132980/0/en/BurstIQ-and-iCan-Announce-Strategic-Partnership-to-Offer-Complete-Portfolio-of-Insurance-Products-to-BiQ-Holders.html

A real markplace to use BiQs for your health services.  HUGE!!!!

[brian.jackson]

Just a reminder the BurstIQ official public Crowdsale started today.  As with all Crowdsales there are going to be scammers.  BurstIQ will not be offering any tokens from anyone or any site other then the official site of https://www.burstiq.com or the official token site of https://biq.burstiq.com. If you receive an offer from a person or any other website other then a burstiq.com domain, it is not a valid offer or contract.  If you have issues or concerns please email info@burstiq.com

[brian.jackson]

Take a look at what BurstIQ will be apart of in the hottest IT healthcare city in the US.

"Catalyst HTI will create a community of healthcare innovation professionals and businesses in order to quicken the pace of industry advancement by providing a welcoming, healthy, and informative environment where thought leaders can collaborate and innovate, together."


http://catalysthealthtech.com/community

[BurstIQcorpdev]

Just finished up at the Distributed Health conference in Nashville, and the overwhelming response to our platform has been, "Ohhh, that is so badly needed in this industry." Makes us feel pretty good, and we're so grateful for the support we've received from the community.

[fricotta]

Take a look at what BurstIQ will be apart of in the hottest IT healthcare city in the US.

"Catalyst HTI will create a community of healthcare innovation professionals and businesses in order to quicken the pace of industry advancement by providing a welcoming, healthy, and informative environment where thought leaders can collaborate and innovate, together."


http://catalysthealthtech.com/community

Amazing community.  We will be creating a Blockchain Health innovation center here.

[fricotta]

Just finished up at the Distributed Health conference in Nashville, and the overwhelming response to our platform has been, "Ohhh, that is so badly needed in this industry." Makes us feel pretty good, and we're so grateful for the support we've received from the community.

Three big themes.  1 - need a better way to manage patient/person consent.  2 - A person should have more control over their health information.  3 Security.   All foundational to the platform. 

[jeff.webb]

The Public Sale Is Here!

Join the Health Singularity

20% bonus the first week!

[fricotta]

Just a reminder the BurstIQ official public Crowdsale started today.  As with all Crowdsales there are going to be scammers.  BurstIQ will not be offering any tokens from anyone or any site other then the official site of https://www.burstiq.com or the official token site of https://biq.burstiq.com. If you receive an offer from a person or any other website other then a burstiq.com domain, it is not a valid offer or contract.  If you have issues or concerns please email info@burstiq.com

Please let us know if you see anyone trying to scam the sale.