When BurstIQ was founded in 2015, very few people in the industry were talking about blockchain, and those who were often conflated blockchain with cryptocurrency. As the first to bring a blockchain-based health data platform to market, BurstIQ spent much of its early marketing energy on helping the market understand the transformative potential of blockchain. In 2017, that conversation began to shift as a wave of blockchain solution providers entered the market and awareness began to increase.
Now, the focus is shifting from pilots, testing, and validation, to broad market adoption. BurstIQ has made a strategic decision to pursue partnerships with both blockchain-based platforms and more traditional data integration platforms, intending to accelerate the adoption of blockchain as a foundational technology, even with the risk of increased market competition for the company itself. In addition, the company takes active measures to foster collaboration among the company’s active developer community. The company believes strongly thatcollaboration is critical to success and increased competition is a sign of market maturity.
These strategic priorities set the stage for the maturation of blockchain technology and accelerated adoption in the healthcare industry. The company is confident that its blockchain-based secure data network will continue to stand out as the only enterprise-ready solution that meets the needs of today and positions the healthcare industry to thrive in the future.
For the moment, BurstIQ remains the market leader in blockchain-based secure data services for the healthcare industry. The company has processed tens of billions of data points, hundreds of millions of medical claims, and impacted millions of lives.
Future Plans forBurstIQ
“In the next 1-2 years, we will be expanding BurstIQ’s global network through key strategic partnerships with traditional integration platform providers, blockchain platform providers, system integrators, governments, and large enterprises. Our goal is to build bridges, allowing governments and enterprises to collaborate more closely with each other and with emerging innovators,” says Ricotta.
Ultimately, the company is looking to build the world’s first truly global connected data network. By providing a secure and compliant framework for granular data ownership, granular consent, and longitudinal profiling of disparate data, BurstIQ has successfully built the technology to make this goal a reality. They have built a growing and highly engaged developer community and launched a number of high-profile enterprise partnerships.
And the industry has taken notice. In 2019, Ricotta was recognized by Ernst & Young at the Entrepreneur of the Year awards, and BurstIQ has been awarded numerous other honors: Frost and Sullivan 2019 Best Practices Award, 2018 Red Herring North America Top 100, Mirror Review 2018 Top Ten Leading Enterprise Grade Blockchain Solution, GDS Review 2017 Best Cloud Based Data Aggregation Platform , and the Government Blockchain Association 2020 Annual Achievement Award.
BurstIQ has laid down the gauntlet. The company is challenging the health industry to join the interconnected world, and to capture the insight and personalization that can be gained from it. But the company presents this challenge while holding one thing sacred: that we must always respect the inherent dignity, sovereignty, value, and rights of each person. The company is challenging the health industry to create a future in which data is connected, individual privacy and ownership rights are respected, incentives are aligned, and trust is inherent.
BurstIQ does this by providing the foundational technology infrastructure to empower secure and compliant connections between people, places, and things. The company organizations build connections with people and with each other, unlocking hidden intelligence through the power of connected data.
BurstIQ believes that connecting health data will build health networks, and that health networks will build entirely new health economies. But more importantly, they believe that by providing the framework for data to be securely owned, shared, monetized, and trusted,they will empower organizations and people to collaborate, discover, learn, and find hope for a future in which health is accessible, equitable, trustable, and personal.