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Frank Ricotta, CEO and Co-founder of BurstIQ interview with Matt Bird at EU Parliament – ESG News

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Frank Ricotta, CEO and Co-founder of BurstIQ interview with Matt Bird at EU Parliament – ESG News

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Frank Ricotta, CEO/Co-Founder of BurstIQ interview with Matt Bird at the Blockchain for Europe (EU Parliament)

HIGHLIGHTS 

  • Digital Assets are becoming more accepted worldwide
  • BurstIQ gives people the chance to dip their pinky toe in the blockchain sector
  • Joining innovation groups is a way to help overcome barriers to breaking into the blockchain industry

FULL COVERAGE

INTERVIEW TRANSCRIPTS: Frank Ricotta, CEO/Co-Founder of BurstIQ and Matt Bird, Host of ESG News 

Matt Bird – Host, ESG News:  00:00

Welcome back to the Traders Network Show broadcasting worldwide from Brussels, Belgium. I’m Matt Bird we’re here at the EU Parliament for the 2020 Blockchain for Europe summit. And my next guest is Frank Ricotta, CEO of Burst IQ.

Frank Ricotta – CEO/Co-Founder, BurstIQ: 00:13

Matt, how are you doing? Nice to see you again.

Matt Bird – Host, ESG News: 00:15

Good to see you again. I mean, we’ve trotted the world together over the last couple years and yes, we have crossed paths and here we are descending in Brussels once again. And you just gave a terrific delivery up there on the use cases of healthcare and blockchain had some commentary going back and forth. Can you give viewers a little bit of a recap on your takeaway from the panel?

Frank Ricotta – CEO/Co-Founder, BurstIQ: 00:39

Yeah, you know, I think you really see everything starting to accelerate forward. Now you know, more and more regulators are getting involved to not to determine how to stop this, but really how to facilitate the evolution of a lot of innovation. Lot of thought about getting more person centric and really leveraging where we play health data to really foster new research and new solutions.

Matt Bird – Host, ESG News: 01:10

You know, I couldn’t help, but notice that there’s still a little bit of disconnect between the thought leadership and the thought leadership aspects of where policy and blockchain is going and the actual use case implementation of it and a little friction between the two. I think people want to see more of the stuff that you’re bringing out there. And we’re seeing it diluted a little bit with, you know, political messaging and posturing. Could you maybe get into that a little bit for us?

Frank Ricotta – CEO/Co-Founder, BurstIQ: 01:35

Well, I think you have to look at it from two sides. One, you have the existing industry and all the lobbyists associated with the existing industries and the advocates for those industries, which bleed over into the policy side. So they’re looking at it. How do you maybe incrementally improve it or incrementally inject some of this technology without disrupting the current care delivery models where I think blockchain really more about a philosophy and an approach to life as much of a technology that creates a whole different kind of access model in health, one where it’s an everyday, all the time engagement model with the person and it goes on over time. And that from a regulatory thought perspective, I mean the closest thing that’s happened on the regulatory side as GDPR, which, you know, is trying to put more power back in the hands of consumers with their data. And so there’s at least some groundwork there, but we really have to think through the whole care interaction, care delivery models.

Matt Bird – Host, ESG News: 02:36

Now you’ve been out for quite some time. What’s been going on with BurstIQ. What have you been up to? 

Frank Ricotta – CEO/Co-Founder, BurstIQ: 02:42

Well, what we’ve been doing at BurstIQ, we’re really seeing a lot of acceleration in our community adoption and what I mean by community. We allow any health innovator, no matter where they are in the world to get on the platform, use the platform. We don’t charge them anything through their development cycle and until they’re really in production and that community’s starting to grow exponentially. But more importantly, what we’re seeing is they’re starting to interact with one another. And so we have really good communities popping up all over the world which is something we had hoped would happen at the end of 2018. And when we were at the last blockchain summit, we really started to see that mature in 2019. And of course we’re seeing some really big enterprise adoption, particularly in the pharma and biotech space.

Matt Bird – Host, ESG News: 03:34

Are you finding that there’s a correlation between the sandbox that you’re providing and the adoption of pharma?

Frank Ricotta – CEO/Co-Founder, BurstIQ:  03:40

Well, you know, I tell you, what’s interesting is that what we’re seeing from the bigger players, who’ve been struggling with innovation and how to facilitate innovation, particularly take pharma with digital therapeutics, the companion to some of their drug treatments or clinical. Therapeutics, and how to really accelerate that without having to provide all the investments, what they’re seeing in our community and how we handle our community is the ability to reach out and tap into crowd innovation, which is a whole new frontier for them. And we’re even seeing some of that from some of the larger health delivery networks and hospitals that want to tap into that. So you’re going to see a whole new wave there, I think in 2020.

Matt Bird – Host, ESG News: 04:23

You’re giving them a way to dip their pinky toe in the blockchain pool.

Frank Ricotta – CEO/Co-Founder, BurstIQ: 04:26

That’s right. You know, for larger organizations, we’re giving them an opportunity, publish your problem. Kick it out to the innovation community, both the health innovation community and the blockchain innovation community. See what comes back instead of trying to control the innovation process. And you tend not to get much out of that. 

Matt Bird – Host, ESG News: 04:44

I love it. Well, listen, Frank, we got a session starting up here in a minute. Can I have you back before the end today? Frank Ricotta, CEO of BurstIQ. I’m Matt Bird. You’re watching ESG News. Special thanks to our network affiliate partners. ABC, NBC, Fox, and CBS. We’ll be right back after these messages. Don’t go away.

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