We have an opportunity to create an entirely new health ecosystem the right way, with patients in control of their own health, better aligned incentives, and ultimately, a healthier patient population.
NASHVILLE, Tenn. (PRWEB) May 15, 2018
Today, Briovation, the parent company of Jumpstart Foundry and Health:Further, announced the creation of a new initiative, Tokenizing Health, which aims to analyze, invest in, and invent public, permissionless blockchain companies in healthcare. The announcement includes the public launch of Solaster, Briovation’s first health blockchain invention, co-founded with Stuart Lackey. The Tokenizing Health initiative also includes a content track at Health:Further’s annual festival devoted to exploring innovations in tokenized health blockchains, as well as the announcement of Jumpstart Token, a fund that intends to invest in tokens of health-centric blockchains to complement the existing Jumpstart Foundry and Jumpstart Capital funds.
Briovation’s Tokenizing Health initiative is focused on the burgeoning arena of public, permissionless blockchains with distributed applications and associated cryptocurrencies. Since its creation in 2008, blockchain technologies have begun to proliferate into many established industries. Healthcare has been no exception, with many payers, providers, and innovative technology companies adopting private versions of the technology to create efficiencies in their IT systems. Briovation sees a significant difference between blockchains used in private, corporate environments and public, permissionless blockchains. The latter have the potential to remove the need for centralized third parties in the healthcare system that currently disintermediate the provider and the patient. The Tokenizing Health initiative will track the maturation of these public health-centric blockchains, invest where there is opportunity, and help organize and accelerate the growth of the ecosystem.
At the center of the Tokenizing Health initiative is the Blockchain BrioView, a chart that catalogues and organizes the continuously growing population of companies operating in the space. To date, Briovation has identified over 150 blockchains with foci ranging from genomics to care coordination to health insurance. In its efforts to document the space as thoroughly as possible, Briovation invites all public, permissionless healthcare blockchain companies to schedule a briefing for inclusion in the report. The Blockchain BrioView will be available for free on the Tokenizing Health website.
“The healthcare industry is comfortable talking about blockchain but not as much about Bitcoin, which is where blockchain comes from. The origin of blockchain was to enable peer-to-peer distributed networks, and that’s what we are excited about. We are very early in the building of viable, public blockchain infrastructure, but the pace of innovation is moving incredibly fast and we have already found several blockchains competing for the same opportunities in healthcare,” said Marcus Whitney, President of Briovation. “The BrioView will be a tool for health blockchain innovators and investors to understand this quickly evolving landscape.”
To educate industry leaders and convene the innovators at the forefront of this developing space, the Health:Further Festival, Briovation’s annual health innovation event, will feature a full day of programming on tokenized applications of blockchain in healthcare. The Tokenizing Health Summit will lead a conversation around these emerging public, permissionless blockchains in health and will complement programming at the TN HIMSS Summit of the Southeast on private blockchains to provide a deep and rich picture of how blockchain is affecting the healthcare industry. All Health:Further ticket holders will have access to the Tokenizing Health Summit, along with all of Health:Further’s other content tracks.
In keeping with its history of unique and innovative methods of investment, the Jumpstart family of funds will add a new fund, Jumpstart Token, dedicated to investing in this emerging space. While the past ten years have seen the rise of a number of new venture capital investment models, the core of the business has remained unchanged, with firms exchanging capital for equity in emerging companies. Cryptocurrencies and the rise of initial coin offerings have created new methods of raising capital and, in Jumpstart’s view, represent exciting and disruptive changes in the venture capital industry. The Jumpstart Token fund intends to invest in tokens to take advantage of these shifts to generate returns and help create the next generation of healthcare innovation.
“Smart venture capital investing means looking at the market and understanding its needs in the context of larger economic trends. Tokenized health platforms are emerging at the confluence of the need for innovation in healthcare and new methods for consumers to interact with the healthcare system,” said Vic Gatto, CEO of Briovation.
In addition to efforts to catalogue, promote, and invest in tokenized health applications, Solaster marks the first blockchain to emerge from the initiative. Co-founded and led by CEO Stuart Lackey, Solaster envisions a healthcare system with global interoperability of disparate blockchains across the health ecosystem. Through a smart-contract platform, Solaster empowers developers to easily build decentralized applications leveraging hundreds of health blockchains to fulfill the promise of a viable distributed health ecosystem.
“With the amazing growth we’ve seen in open, permissionless blockchain health applications, we are already seeing fragmentation across the space. If the health industry is not careful, we’ll just re-create the dysfunctional, siloed system we have today,” said Stuart Lackey, CEO of Solaster. “Through decentralized application interoperability, we have an opportunity to create an entirely new health ecosystem the right way, with patients in control of their own health, better aligned incentives, and ultimately, a healthier patient population.”
More information about Tokenizing Health can be found at TokenizingHealth.com.