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Brad Smith is joined by Micah Winkelspecht, Founder and CEO of Gem at the Consensus Summit 2017. Winkelspecht notes that this year’s summit was well represented by large enterprise companies, many of which Gem has an interest in working with in the future. He also mentions that many new enterprise companies are stepping into blockchain and that is also exciting for the industry and technology. With the entrance of larger companies in the blockchain sector, it is clear that this technology is quickly moving toward real world applications.
Having a window into the future would make the job of an insurer a whole lot easier – and blockchain could make that possibility a bit more realistic.
The topic of blockchain-powered prediction markets and how the tech could help insurers like MetLife and reinsurers like Swiss Re was on display during CoinDesk’s Consensus 2017 blockchain conference.
On May 22 at Consensus 2017, panelists from Microsoft, uPort, Gem, Evernym, Blockstack, and Tierion announced the formation of the Decentralized Identity Foundation (DIF).
The DIF is comprised of a multitude of competitive companies across industries with the singular unifying focus to create a universal decentralized state of data that can be accessed by institutions and individuals to verify identity.
On the same day that Ford officially ousted its chief executive in a bid to remake itself as future-focused vehicle manufacturer, Toyota announced its own steps to embrace technology’s next wave. Andwhile Ford is looking to catch up to the leaders in autonomous and electric vehicle manufacturing, Toyota (through the Toyota Research Institute) appears to be taking the next fork in the road toward enabling that autonomous and electric future.
The Enterprise Ethereum Alliance has more than tripled in size, with the group announcing 86 new members today drawn from a wide range of industries.
Among the new members are South Korean telecom Samsung, pharmaceuticals giant Merck, automaker Toyota, investor communications platform Broadridge, financial markets firm DTCC, and the Illinois Department of Financial and Professional Regulation, which oversees licensed businesses in the state.
The EEA was officially launched in late February, aimed at developing enterprise-focused solutions with the open-source ethereum as a basis but that are, in some cases, more privacy-oriented. Conversely, the idea is to create a kind of positive feedback loop that leads to improvements of the public blockchain protocol as well.
Toyota Research Institute (TRI) is going big with a bold blockchain strategy.
Digital Currency Group (DCG) has launched its fourth subsidiary, DCG Connect, a membership-based organisation dedicated to helping enterprises accelerate from blockchain exploration to production. DCG Connect enlists a group of founding corporate members including IBM, Amazon Web Services (AWS), CME Group, Foxconn, Mastercard, New York Life, Prudential, and Transamerica.
DCG Connect will accelerate the deployment of blockchain technology across industries, and develop tools to help enterprise adopters successfully navigate the universe of blockchain service providers, said a statement.
Imagine a world where automotive vehicles are no longer depreciating assets, but are profit generating machines.
Los Angeles-based startup Gem has developed the first blockchain product for health claims management, which is being demonstrated at Consensus 2017, the main industry meet-up.
The Gem health claims solution takes aim at three of the toughest issues confronting the healthcare industry, said a release. The first is the lack of real-time transparency into health claims transactions involving providers and payers; then there is the amount of time it takes for providers to get paid for their service. Thirdly is the slow rate of provider reimbursements because of the time it takes to generate and deliver the patient’s Explanation of Benefits.
We’ve tried to keep an eye out regarding the blockchain — a much-hyped data-storage technology — in health care here at Morning eHealth. Toward that end, we attended a Hill session held by the Chamber of Digital Commerce, featuring Micah Winkelspecht, CEO of blockchain startup Gem.
Winkelspecht noted that the health care data system is a bit bifurcated: either you have a jungle of different data-holders on one hand, or an “oligopoly” of data holders. (Such as, for example, claims data — where an unidentified company holds 70 percent of all claims data.)