Gem, which "prescribes medicine" for Philips Healthcare, will attend Shanghai Blockchain International Week

Baozou Comment : The data between blockchain addresses has great availability and security. This allows hospitals, insurance companies and laboratories to share information seamlessly and in real time, and there is no risk of the information being stolen or forged. Blockchain will play a huge role in the field of medical health, and its operation and practicality will be very convenient. The cooperation between Gem and the medical "giant" Philips will be worth looking forward to.

Author: Amber Dingding

Medical health has always attracted much attention from all walks of life. From the "toxic vaccine" incident some time ago to the "Putian" incident that just passed, medical health accidents have actually happened around us. The government is also particularly concerned about medical health. In order to reduce the occurrence of such incidents, many solutions have been introduced. However, how to avoid such incidents from the source as much as possible and how to prevent the patient's original data from being leaked are all issues worthy of in-depth study and discussion by industry insiders.

Blockchain itself has the characteristic of data integrity, which is more consistent with the needs of the medical industry. Will the combination of blockchain and medical care produce different effects? The answer is obvious. As a "giant" in the field of medical health, Philips will certainly not miss this opportunity, and will work closely with blockchain enterprise-level suppliers to jointly develop solutions in the field of medical data. Gem is fortunate to be one of them. What kind of charm can be valued by Philips? What kind of innovation will it bring to the medical industry has always attracted attention from the outside world.

It is reported that Gem, one of the distributed capital investment projects, will make a trip to China and will attend the Shanghai Blockchain International Week held in Shanghai in September, where it will communicate and interact with people from all parties.

What is the charm of Gem?

According to data, Gem was founded in 2014 and used the $2 million raised in the seed round for the development of Bitcoin API products. However, in January 2016, Gem promoted its services as an agnostic "blockchain API". At the beginning of 2016, Gem focused on blockchain technology and completed a $7.1 million Series A financing in January 2016. The lead investor in this round of financing was Pelion Venture Capital Partners, and the following investors included KEC Venture Capital, Blockchain Capital, Digital Currency Group, RRE Ventures, Tamarisk Global, Drummond Road Capital, Tekton Ventures, Amplify.LA, Danmar Capital and angel investor James Joaquin.

Gem has launched a multi-signature API service for Bitcoin developers, and they said that they will expand the API in the future to develop blockchain applications into a modular platform that can cross industries. Regarding the future prospects of blockchain, Gem CEO and founder Micah Winkelspecht said that blockchain technology will change how people and businesses interact with each other, will support the entire industry, and one day will produce a blockchain economy that will become the basic structure of our daily lives.

It also stated that the Series A financing took place during a period of change in the business strategy of the two-year-old company.

Perhaps, it is precisely because Gem shifted the company's focus to the blockchain that the company's development has become more diversified, making investors feel that its considerable profit model may be promising after it is used for commercial purposes.

Philips was given a prescription for a private Ethereum blockchain

In April this year, Gem, a blockchain technology company, officially announced the launch of the Gem Health project, which aims to promote cooperation and development of emerging technologies in the medical field. In the announcement, Gem stated that Philips will become their first partner and will help Gem build a platform that can be used to develop enterprise-level medical applications.

, and plans to build a private healthcare network or private Ethereum blockchain based on the Ethereum network.

The involvement of blockchain in the medical industry shows the potential advantages of blockchain in creating health apps, global patient ID software and secure electronic medical records. Gem is currently building a platform that allows medical companies to participate in pilots and create cross-industry applications to solve different use cases, and Gem is building an environment that allows such programs to be applied.

The applicability of blockchain technology in the healthcare sector has been a major topic of discussion in the Bitcoin technology community for many years. Because patient health data information is a key element in measuring medical practice, blockchain technology can solve the problem of reliable recording of information through encryption technology.

Blockchain technology will create a new connection network for the entire medical industry, and key data at each stage will be fully recorded on the network. The data between blockchain addresses will have great availability and security. This allows hospitals, insurance companies and laboratories to share information seamlessly and in real time, and there is no risk of theft or forgery of this information. Gem provides such an example: a global medical network based on blockchain technology will set up an independent ID for each patient and connect with the medical records of local hospitals or doctors. The network will reduce the chance of mistakes made by interns and will effectively protect the privacy of patients. At present, the Philips Blockchain Laboratory has been registered and has stored a lot of data.