The upstart technology consortium received health initial funding from major players in the field.
Hashed Health, a consortium that uses transformative blockchain and distributed ledger technology with the goal of changing the U.S. healthcare system, announced that it has received an initial funding round of almost $2 million.
“Hashed Health is strategically positioned to begin development of healthcare-specific solutions for streamlining ineffective healthcare delivery models, and to address a range of well-known issues in healthcare,” said Founder and CEO John Bass.
The initial funding round was led by Martin Ventures, a firm known for supporting novel business approaches designed to streamline operations and remove inefficiencies that are currently inherent in the healthcare field.
Charles Martin, chairman and founder of Martin Ventures stated that, “Blockchain and distributed ledger technologies hold tremendous promise in our attempts to place the consumer at the center of the healthcare ecosystem. The healthcare industry must be drastically reformed in order to address problems related to quality, cost and waste. Hashed Health is poised to drive innovation and collaboration to reach these goals.”
Another investor, Fenbushi Capital, also believes that Hashed Health is looking in the right direction: “We strongly believe Hashed Health’s blockchain technology will play an important role in bringing transparency, efficiency and robustness into the global healthcare economy,” said Bo Shen, Founding Partner of Fenbushi.
“We are proud to partner with Martin Ventures, a leader in healthcare investments, and Fenbushi Capital, a leader in blockchain investments,” said John Bass. “With the initial round closed, we are continuing the exciting work of organizing the market around these game-changing projects.”
Tapping a combined 50 years’ industry experience in healthcare operations and IT integrations, Hashed Health plans to facilitate collaboration among top healthcare organizations in order to advance distributed ledger solutions that can help address long-standing, systematic healthcare industry problems.