Shyft partners with blockchain healthcare company BurstIQ


October 3, 2018

Two of the most prominent companies in the blockchain space aim to revolutionize identity management for the healthcare industry and beyond.

Shyft Network, the global blockchain-based network that facilitates identity verification and compliance with increasingly complex and costly Know Your Customer (KYC) and Anti Money Laundering (AML) regulations, announced today a new strategic partnership with BurstIQ, the leading provider of blockchain-based, secure data sharing and healthcare data management provider.

The partnership will allow governments and healthcare institutions to securely manage, share and access healthcare identity data while maintaining full compliance with individual privacy and consumer protection laws. BurstIQ provides blockchain enablement services for the health and healthcare industry, including blockchain-based HIPAA- and GDPR-compliant data management, sharing and monetization.

The two companies will combine forces to allow trust anchors on the Shyft network to securely manage and share identity data through BurstIQ’s secure blockchain data management platform, to allow healthcare institutions to establish themselves as identity trust anchors on the Shyft network, and to allow BurstIQ’s healthcare partners to leverage Shyft’s identity verification, KYC and AML attestations in the healthcare context.

The partnership will be initially rolled out as part of a broad-based and nationwide initiative for the country of Bermuda, to be followed by additional deployments around the world.

“Healthcare institutions need modern and reliable solutions for managing patient and provider identity, and the health data they manage can be invaluable in anchoring an individual’s broader identity”, says Bruce Silcoff, CEO of Shyft International. “We’re partnering with companies like BurstIQ to help these institutions streamline patient verification and provider credentialing, reduce misidentification errors and fraud, and play a key role in building universal ID networks.”

“Our partnership with Shyft represents a critical solution for both government and industry to increase transparency and accountability while reducing the incidence of errors, fraud, and waste,” says Frank Ricotta, CEO of BurstIQ. “In the healthcare sector alone, health insurance fraud costs the US healthcare system at least $68 billion annually. This partnership represents a significant step towards eliminating these unnecessary costs.”

About BurstIQ™

BurstIQ™ is an industry-leading blockchain enablement company, offering enterprise-level blockchain solutions for the health and healthcare industry. The company offers a HIPAA- and GDPR- compliant data management platform that seamlessly leverages blockchain, advanced security, Big Data capabilities, and machine intelligence to enable businesses and individuals to access, control, monetize and gain insights from their health data. The BurstIQ Ecosystem allows people and businesses to create relationships and transact through a global network of marketplaces for personalized products and services, value-added B2B services, research opportunities, and peer-to-peer networks. The BurstIQ platform and global Marketplace work together to improve the security of health data, reduce healthcare costs, enable new insights and care models and democratize health through increased global health access, equity, and personal empowerment.

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