>> Announcer: Live from San Juan, Puerto Rico, it's theCUBE covering Blockchain Unbound Brought to you buy Blockchain Industries

(upbeat music) >> Hello everyone, welcome to our exclusive coverage here in Puerto Rico with theCUBE on the ground for extensive two days of coverage for Blockchain Unbound in Puerto Rico where all the action is It's a global conference where investors, entrepreneurs, thought leaders are all coming together to check out the future and set the agenda for Blockchain cryptocurrency and the decentralized internet My next guest is John Hartigan, Executive Vice President in Intiva Health Welcome to theCUBE >> Thank you

>> So we were talking yesterday with Hash-Craft, CTO, you guys are part of that ecosystem, you guys are doing some of these things with health Take a minute to explain what you guys are working on and your value proposition >> Sure, so, Intiva Health is a career and credential management platform for physicians and all licensed medical professionals, and it streamlines and automates the credential management process that they have to go through every time that they either change positions or take on temporary work And the Hash-Craft integration is allowing us to do instantaneous credential verification Currently the state of affairs in the granting of privileges at a particular hospital or a facility can take literally weeks and in some cases months to complete

It's a very analog process, and with our integration with Hash-Craft, it will take seconds >> So I was watching The New York Times today, an our Wall Street Journal article about verification of work history This Blockchain is certainly a good example of that, but you're now getting it into more of health, what is the use case, what's the low hanging fruit that you guys are going after with your solution, and how does that evolve and how you see that evolving? >> Well, so, like I mentioned, the current verification process for the granting of privileges in a hospital setting, it is pretty much unchanged since the 1950s The internet helps a lot but what you're talking about is somebody getting a credential paper file with 25 or 30 documents, and opening the file and picking up the phone and calling, and verifying the reputation and provenance of that particular physician And it's truly a bureaucratic nightmare

It's red tape to the nth degree And so that represents thousands and hundreds of thousands of hours and billions and billions of dollars in waste that could be reallocated to better patient care for example >> The big use case we're seeing education, the workplace, but now healthcare I see a perfect storm for innovation Healthcare is not known for moving fast

>> John: Correct >> HIPAA regulations in the past couple decades really put a damper on data sharing for privacy reasons At that time it seemed like a good call Has things like HIPAA, has the cloud computing model opened up new avenues for health because everyone wants great healthcare, but the data is stuck in some silo, database >> Database, absolutely

>> That's the problem >> That's absolutely a problem >> So what's your reaction to that? >> So the approach that we're seeing a lot of organizations take is they are attempting to go after the EHRs and the EMRs, the Electronic Health Records for Patients Of course that is something that needs to be fixed However the medical space is truly influenced, the main stakeholders are the physicians

They sit on all the committees, they run all the budgets, they make the policy So it's imperative that we address the physicians and get their buy into any kind of significant change And what you're seeing now is states, as well as other organizations including the federal medical board, the Federal Association of Medical Boards, as well as the State of Illinois, Wyoming is here, as a matter of fact, representing, and they are all looking at Blockchain solutions for this verification problem for the medical space and remaining HIPAA compliant >> Let's talk about security because hospitals and healthcare organizations have been really good targets for ransomware >> John: Absolutely

>> And so we're seeing that mainly because their IT systems have been kind of ancient in some cases, but they're right in the target of, they don't have a lot of IT support One of the things about Blockchain, it makes these things immutability So is that something that is on the radar, and how is, I mean, not necessarily ransomware, that's one example of many security issues 'cause you got Internet of Things, you have a slew of cloud-edge technologies– >> John: Yes >> That are emerging, that opened up a surface area for a text So what's your thoughts on that? >> So, as you mentioned, the traditional models have been layered on top of each other overtime

It's a patchwork situation And because it's a patchwork situation, there is vulnerabilities all over the place, in facilities a lot of times And besides that, the medical space is probably 10 years behind the times when it comes to technology, maybe five at a minimum The model that we're using, you mentioned earlier that there are siloed information in these different facilities and hospitals, and that's absolutely true So all of that information, you have facility A, facility B, facility C, they all have information on one particular provider or physician, but they don't talk to each, and that information is at different levels of accuracy and timeliness, you mentioned time and date stamps

So our model works where the information follows the provider, okay, it's all built around the provider themselves, and then the individual facilities can tap into that information, and also they can influence the information, they can update it So everybody will then be talking to each other in an anonymous fashion around the one provider updating that information and making it the most accurate in the market, and we get away from the old SaaS model >> Before we deep dive in here, I'm going to ask you one more thing around as you walked into healthcare providers and then the healthcare industry, you're a different breed, you have Blockchain, you got different solution, the conversation that they're having is, let's put a data leg out there, again, centralized data leg ISPs are doing that We know with cybersecurity, any time you have centralized data resources, it's just an easier target to hack

>> John: Correct >> So it's clear that centralized is not going to be the ideal architecture, and this entire movement is based upon the principles of decentralized data >> John: Yes >> So what's it like when you go in there? It must be like, do you have like three heads to them? Or are you like a martian, you're like speaking some foreign language? I mean what is it like, are there people receptive to what you talk about? Talk about some of the experiences you had when you walked in the door and knocked on the front door and walked in and talked to them >> So it is an interesting situation

When I speak with CEOs and when I speak with COOs, they understand that they're vulnerable when it comes to their data, and they understand how expensive it is if, for example, if they have a HIPAA breach, it's $10,000 per occurrence Now that means if somebody texts patient information to somebody else on a normal phone, that $10,000 every time that happens, okay And so if it's a major data breach, and a record of files if they have 50,000 files lost, I mean it could be a killing, a business killing event under the right circumstances So I tried to educate them about– >> Do they look at Blockchain as a solution there? Or are they scratching their heads, kicking the tires? What's the reaction? >> They're interested, they don't understand exactly how we can apply Blockchain, and we're trying to educate them as to how that is, we are capable of doing so We're explaining about the vast security improvements by decentralizing the information, and they are receptive, they're just reticent because they're very, tend to be more conservative

So as these organizations like the State of Illinois and the Federal Association of Medical Boards, as they start to adopt the hospitals and facilities, they're starting to look in and oh say, "Hey, this is a real thing, "and there may be a real application here" >> Talk about your business, you market, you go on after obviously healthcare, product specifically in the business model, where are you guys? How big are you? Are you funded? Are you doing an ICO? How are you using token economics? How is it working? Give us a status on the company >> Sure, so, we've been in business for approximately two years We're a funded startup out of Austin, Texas We are born actually out of a practice management company which is an important point because a technology company trying to solve this problem would really struggle because there is a lot of bureaucracy, there's a lot of nuance in how the system operates because it is evolved overtime

So that gives us a very significant advantage We have an operating platform that has been out for a little over a year now, and we have thousands and thousands of physicians and other licensed medical professionals that use the platform now >> Are they paying customers or are they just users? >> No, so the model works like this, it's free to the providers, it's also free to the facilities and medical groups, and so we allow that platform, that utility for them to use How we monetize is we have other curated goods and services for the providers along their career journey So, for example, continuing medical education

All providers are required to take so many units a year, and we have a very robust online library of CME And we also have partnerships with medical malpractice organizations >> So it's a premium model You get them using the platform >> Correct, that's right

>> Where does tokens fit in? Where does the cryptocurrency fit in? Do you have a token as a utility, obviously, it's a utility token I mean explain the model >> Correct Yeah so we just announced last Friday in South by Southwest that we are launching a token, a utility token, and it'll go on sale April 19th

And basically how it works is the providers, the physicians will earn tokens by taking actions in the platform that update their data for example, or if they look for a job on our platform, or if they do different tasks in the platform that improve the veracity of their data, and then they will be able to use those tokens to purchase the continuing medical education courses, travel courses, medical malpractice insurance, a number of different resources >> Token will monitor behavior, engage behavior, and then a two-sided marketplace for clearing house >> Exactly >> How does the token go up in value? >> We have multiple partners that are involved, so the partners will be also purchasing advertising time, or it's a sponsorship model, so they'll be able to sponsor within the platform So the more partners we bring in, the more providers we have, the value– >> So suppliers, people who want to reach those guys

So >> Exactly >> You get the coins, you see who's doing what You get a vibe on who's active and then >> Exactly That's a signal to potential people who want to buy coins >> Yeah, and when we announced that we were doing this token, we had multiple partners that we have been in business with for the last two years, saying, "We want in, we want to do this, "we want to get involved

" Oh another thing that we're doing with the token, we have an exclusive relationship with the National Osteoporosis Foundation, and we put forth to them that we would like to set them up with a crypto wallet so that they can accept donations, and then we would also match those donations up to a certain point that they receive in crypto So we want to help our organizations, our not-for-profits by facilitating crypto acceptance >> So talk about your relationship with Hash-Craft It's two days old but it's been around for two years, they announced a couple days ago It got good feedback, a lot of developers are using it

It's not a theorem but that's the compatibility to a theorem You're betting on that platform How long have you worked with these guys, and why the bet on Hash-Craft? >> So we were looking at Blockchain Technologies about two years ago because we realized, as you mentioned earlier, the security issues we have We have to be very aware of the type of data that we're holding So at the time though, there were significant issues with speed, significant issues with storage, and how it would work by actually putting a credential packet into Blockchain, and the technology frankly just wasn't there, and so we started looking for alternatives

Thankfully we were in Texas, and we happened to run into Hash-Craft, and they explained what they were doing, and we thought this must be too good to be true It checked off all of our boxes And we had multiple conversations about how we would actually execute an integration into our current platform with Hash-Craft So we've been in talks with them for, I think, a little over five or six months, and we will actually, it looks like be one of the very first applications on the market integrating Hash-Craft >> It's interesting, they don't really have a Blockchain-based solution, it's a DAG, a directed acyclic graphic model

Did that bother you guys? You don't care, it's plumbing I mean does it matter? >> So actually the way that it is established, it has all of the benefits of Blockchain, and none of the fat and sugar, so to speak I mean there are a number of things that they do that Blockchain– >> You mean performance issues and security? >> Performance, speed is a big one, but also fairness on the date and timestamps, because with the verification system, you have to prove, you have to be able to prove and show that this date and timestamp is immutable, and that it has been established in a fair manner And they have been able to solve that problem, where the Blockchain model, there is still some question about, if you have some bad actors in there, they can significantly influence the date and timestamps And that was very significant for our model

>> Alright, well, congratulations What's next for the company? What are you guys doing? What's the plan, what's the team like? Well, excited obviously What's next? >> So we are going to be announcing some very big partnerships that we've established here late spring I was hoping to do it here now, however we've– >> Come on, break it out then >> I would like to but I have to be careful

So we have some big partnerships we're going to be announcing, and of course we have the token sale coming up so there'll be a big– >> Host: When is that sale happening? >> So it starts April 19th, and it'll run for about six weeks >> What's the hard cap and soft cap? >> Yeah, we prefer not to talk about that, but let's say, soft cap, about 12 million And we have some interested parties that want to do more, and so we're looking at what our best options are as far as setting the value to the token, and what the partnerships that are going to significantly impact it will be >> Well, great job, congratulations One of the big concerns to this market is scams versus legit, and you're starting to see clearly that this is a year, flight to quality, where real businesses are tokenizing for real reasons, to scale, provide value

You guys are a great example of that Thanks for sharing that information >> We're really excited, and it's very exciting to bring this to the healthcare space which is, as we said, conservative and somewhat traditional And we believe that we will be setting the standard moving forward for primary source verification >> And you can just summarize the main problem that you solve

>> Yeah, it is that analog primary source verification of the credential documents, and when our platform goes live, we will literally be putting hours of time a day, something like eight hours back into the providers' lives, and back to the money of that, associated with that back to their pockets, which we hope translates into better patient care >> So verification trust and they save time >> John: Absolutely >> It's always a good thing when you can reduce the steps to do something, save time, make it easy That's a business model of success

>> Absolutely and more secure >> John Hatigan, who's with Intiva, Executive Vice President from Austin, Texas here in Puerto Rico for theCUBE coverage Day Two of two days of live coverage here in Puerto Rico, I'm John Furrier with theCUBE host We'll be back with more live coverage after this short break (upbeat music)