Veridat’s Phillip Runyan talks how BSV can transform pharmaceuticals on CoinGeek Backstage

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Phillip Runyan is a popular figure in the BSV ecosystem as the founder of Veridat, a startup that’s leveraging the power of BSV enterprise blockchain to help improve the pharmaceuticals industry. However, over the past year, he has done much more for the space, including traveling around the world to promote BSV adoption. He joined CoinGeek Backstage to talk about the reception BSV has gotten around the world and how Veridat is growing and evolving.

Runyan had a presentation on Day 1 of CoinGeek Zurich in which he delved into improving pharmaceutical R&D and supply chains using the BSV enterprise blockchain. He later joined Becky Liggero Fontana for CoinGeek Backstage to talk about how Bitcoin SV adoption is growing globally.

Runyan was among the contingent that represented the Bitcoin SV ecosystem at the Ritossa Summit in Dubai. He was also in Sudan where he spoke with the country’s leadership on the power of the BSV enterprise blockchain. As he told CoinGeek, in Sudan, the focus was purely on leveraging blockchain while in Dubai there was a lot of interest in digital currencies.

“It was nice to walk into one [Dubai] and change their mindset, and the other one [Sudan] really feed this thing that they know will really benefit their society.”

Veridat focuses on data integrity and authenticity in pharmaceuticals. And while fraud does exist—and his company is fighting this as well—Runyan pointed out that it’s usually unintentional accidents that cause the most damage. With this industry being quite vast, and involving hundreds of millions of people, there’s bound to be data that’s overlooked or altered along the way.

“That’s where we’re trying to step in. We’re trying to be able to validate the state of data. We’re trying to provide them with better tools and services to look at the provenance of data from start to finish.”

Runyan has been one of BSV’s most vocal supporters and in the interview, he doubled down on why he chose to build on BSV and not any other platform. For one, just by transaction cost alone, few other blockchains can compete, he stated. This is why they have shied away from the data aspect of the blockchain and focused on the financial transactions, he believes.

But it doesn’t stop at just the cost-efficiency. BSV is also the undisputed leader in transaction speed, scaling and security, making it a no-brainer especially for enterprises, Runyan concluded.