BurstIQ
Blockchain based Healthcare Application
Blockchain is the distributed network which maintains peer-to-peer based connections on the top of the internet without the intervention of a middle man. The latest generation of blockchain, emerges the importance of the blockchain in non-financial applications. The promising features in blockchain that are beneficial to healthcare applications is decentralization, privacy and security for accessing medical data for patients and interrelated actors (doctors, hospitals, insurance companies, etc.). BurstIQ is the suitable application to elaborate the need of blockchain in healthcare.
BurstIQ plays the major role in the healthcare domain for securing and controlling medical records by embracing blockchain technology to construct strong blockchain-based data management. It’s one of the leading providers of blockchain-enabled data network solutions for the healthcare industry. The BurstIQ enables the secure blockchain platform as a service to share data securely and build strong global connectivity among digital health companies, governments, health systems, payers and pharma & life science companies.
The distributed nature of blockchain allows BurstIQ to provide higher data security beyond the centralized databases via distributed ledgers involving virtual tokens. BurstIQ platform combines blockchain technology with data cloaking, sharding and encryption services to provide secure management of data elements and stores. Furthermore, data verification proofs can be efficiently shared and allows direct access to data, offers strengthen layered security access model.
BurstIQ goes way beyond smart contracts. At a basic level, the BurstIQ platform enables data owners (both people and businesses) to share their data through Consent Contracts. The natural extension of this capability is to enable an ecosystem where people and businesses can interact directly with each other.
The evolution of the BurstIQ Platform (which includes the BurstChain, Secure Data Grid, LifeGraph and all the other supporting services) will enhance the platform to engage many other types of users.
In order to protect a customer’s health data, BurstIQ uses their key element called BurstChain. It is the backbone for end-to-end data rights management and manages consent contracts to grant access to sensitive information. In addition, it provides advanced security, indisputable custody chain, and granular ownership by utilizing HIPAA and GDPR compliant data networks.
LifeGraph is able to cross-examine and manage information from multiple sources to create a road map of health data throughout a lifespan. It enables data owners to securely share, sell, license, loan, or donate their data.
In this modern era, every data has monetary value (data as currency). Therefore, BurstIQ supports secure transactions by using BiQs. “BiQ” is a general-purpose cryptocurrency, implemented on the public Ethereum blockchain as an ERC20 token. BiQs (BurstIQ Tokens) power every transaction on the BurstIQ platform.
Users can convert their money or cryptocurrencies (Bitcoin, Ethereum) into BiQs and use them for other transactions, purchasing and services.
In this article, we have looked one of the real world application of blockchain. There are plenty of applications available nowadays. Bitcoin also one of the application of it.
Every individual can migrate their data to various organizations across the world as they wish by leveraging blockchain technology. In the data-driven era, every health data needs to be secured as gold.
Blockchain is the corrective solution for data privacy.
