Topic: [ANN] BurstIQ (BIQ)💚 💢 💚 ▐ A Marketplace for Health Data & Services▐ 💚 💢 💚 - page 6. (Read 22239 times)

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

Okay, thank you for the answers!

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.   

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!

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.

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

Good day everyone!

EQUITIES: "BurstIQ believes that people should own their data and should be the ones to decide who sees it, how much and when they see it and what they're entitled to do with it. The company calls this the Health Singularity and its technology platform was built explicitly to leverage blockchain to become the primary marketplace that powers this."

Checkout the rest of the article here, and don't forget to join our crowdsale!

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 ;-)

BurstIQ is currently at DISTRIBUTED: HEALTH 2017 in Nashville

We are one of the sponsors at the event as well as our CEO is one of the speakers.

Please take a look at https://health.distributed.com/

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.

Okay, thank you!


P.S.: I consider 4 as 1, but with given reason - additional thank you for that

Or 4, our team has been traveling down to Nashville for a Healthcare Blockchain summit.  Sorry for the delayed response, will get to your answers here shortly.  We absolutely believe answering all questions is important.

Our CEO, is one of the speakers at this summit.  DISTRIBUTED: HEALTH 2017

https://health.distributed.com/

Usually, when it's hard to get answers on questions within 2 days, there are 3 possible scenarios:

1) A team doesn't have enough time.
2) A team doesn't believe it's necessary.
3) A team believes answering on certain questions would do more harm than good


I believe you'll understand that it's not possible for me to buy into the pre-sale and/or crowdfunding without having answers on those questions. In case those answers were already given somewhere, links to those sources would also be fine.

Can you back up this claim? The BiQCrowdsale address on Etherscan only appears to have received ~36 ETH.

Hi everybody!

Very interesting platform - got my attention because of the S&C-article btw:
https://www.smithandcrown.com/sale/burstiq-tokensale-blockchain-hosted-medical-record-storage-health-marketplace/


I have a couple of questions:


Blockchain:

How I understand it so far there won't be inflation of the token, right?  

What will be the incentive to secure the underlying Blockchain/Burstchain?

Will it be a truly decentralized system or more like a private Blockchain?  

Will the project, at least the Blockchain, be Open Source?



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?


Regarding the Token Sale:

Is there any source to keep track of the sale, about how much already was sold etc.?

Is there a minimum cap?

What would happen with unsold tokens in case the crowdsale would not be sold out?



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! ;-)  


Best regards,
tempus

BurstIQ allows you to work with large data sets, which is of particular value to the insurance industry and research in the field of medicine.

Hi coin@coin! Thanks for your question. We have a pretty simple vision: we want to make the world a healthier place. And we believe that if people can access their own data, understand it, and use it make their own little part of the world a healthier place, that we’ll eventually make the whole world a healthier place.

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 other industries, the short answer is yes. The BurstIQ platform can manage any kind of data, not just what we typically think of as health data. Over time, we expect to expand the scope of the platform to include water, finance, energy, community, education, and even some verticals that have yet to exist. We're starting with health because we feel the need is the greatest in this industry, but we are already talking with players in other industries about possible partnerships.

Day 3 of Pre Sales.  Really excited on the sale is going so far.

Another great pre sales day.  Thanks again everyone.