California-based blockchain developer Gem, unveiled today its healthcare initiative called Gem Health. The new initiative will explore how blockchains can be effectively applied in streamlining various portions of the bureaucratic healthcare system.
The Gem blog post reads:
“We need a modern infrastructure that unlocks new channels for services to connect, while balancing the need for strong data privacy and security. Blockchain technology is that infrastructure.”
Gem Health will be collaborating with the Amsterdam-based Philips Blockchain Lab, which was launched by Royal Philips at the beginning of March, following a six-month exploratory effort by the Dutch conglomerate.
Gem’s new healthcare initiative will focus its efforts on looking at potential blockchain-based solutions in several healthcare sectors; clinical data; claims processing; pharmaceutical supply chains; internet of health; universal health identities; genomic data management.
While blockchain technology is currently being explored quite extensively by many global banks for its applications in finance, very few firms have looked at the possibilities the novel technology in the healthcare industry. Gem CEO Micah Winkelspecht, views the Gem Health initiative as a way to bring the fragmented health care industry into harmony, “We’re launching a network that will allow the healthcare companies to participate in pilots and build cross-industry applications to solve different use case. We’re helping to establish that environment with companies that have been largely working in silos.” Winkelspecht told CoinDesk.
Arno Laeven, who currently leads the Philips Blockchain Lab, has previously said that Philips is very interested in seeing if the technology can improve existing business models in various industries, and today’s announcement demonstrates Philips’ commitment.
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