Many of you have asked how we are different from our competitors, and we have provided specific information on how we are different from other [Suspicious link removed]panies in the health space. Frank and I just returned from the Distributed Health conference, where every company that is involved in blockchain and health was in attendance. There are lots of great ideas brewing out there, but it is clear that this is still a nascent field with tons of room for innovation and growth.
Having seen what's out there, I can say that there are a few areas where BurstIQ has developed technologies that are completely novel:
1. Informed Consent: traditional smart contracts can handle simple transactions, but BurstIQ's Consent Contract layer can create complex smart contracts where data has multiple owners, permission can be revoked or limited to a subset of a person's LifeGraph, permission can be granted to groups or definitions of groups rather than specific individuals, etc. This is something we heard over and over is essential for managing health data, and BurstIQ is the only company that has enabled and fully deployed this.
2. Ecosystem: There are a few companies looking to put health (or in some cases, just medical) data on blockchain - either for operations / supply chain management or as a personal health record. BurstIQ is the only company that is putting health data (broadly defined) on blockchain and then establishing an ecosystem that allows people to control and gain value from their own data, and allows companies and individuals to create partnerships, market products, buy products, collaborate on research projects, create B2B services, and more. This is another aspect of our platform that many attendees told us was desperately needed in the healthcare industry.
3. BurstIQ is the only company that has applied Big Data capabilities to the core blockchain, which means that a) the platform can handle large data volumes industry-wide level rather than needing to build separate (siloed) instances that can only handle a limited amount of data, and b) the platform can apply machine learning, real-time data analytics, AI and other tools to the data, which opens up a whole world of possible uses of the data.
A few other factors that set us apart:
1. We have paying customers, a strong customer pipeline and are profitable.
2. With our partnerships with Empiric Health and iCan Benefit Group, we will bring in hundreds of thousands of LifeGraphs, millions of data transactions and large portfolios of consumer products on the Ecosystem.
3. Our platform is fully operational - we are not just a whitepaper or vaporware looking for start-up funding.