Blockchain-based health data company BurstIQ has scheduled a crowdsale for its BiQ utility token in August.
BurstIQ is preparing for the looming transformation of the healthcare system, CEO Frank Ricotta said.
“Within the next five years, data will become the currency that drives the healthcare industry, and BurstIQ will be the marketplace.”
BurstIQ’s technology blends blockchain, big data, advanced security protocols and machine intelligence to effectively manage and generate value from large, complex data sets while maintaining security standards and HIPAA compliance. Health data from multiple sources is combined to create LifeGraphs, which are individuals’ unique genomic, proteomic, medical, demographic, socioeconomic and social profiles. When combined with BiQs they create the foundation for the BurstIQ HealthWallet, which can store, loan, share, license and donate data.
The public crowdsale is slated for Aug. 27. As many as 700 million of the one billion available BiQs are up for grabs at 12 cents each. A declining weekly bonus structure is in place which sees purchases topped up by five to 20 per cent based on the week of purchase. BiQs can be redeemed for transaction credits which can be used for health-related products and services.