August 2019 – Patientory

Blockchain and Internet of Things (IoT) are both poised to be world-changing technologies, just at the beginning of their adoption curve.

What is the Internet of Things (IoT)?

The internet of things (IoT), is a system of interrelated computing devices, mechanical and digital machines, objects, that are provided with unique identifiers ( UIDs ) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

The total installed base of the Internet of Things (IoT) connected devices is projected to amount to 75.44 billion worldwide by 2025, a fivefold increase in ten years.

The IoT, enabled by the already ubiquitous Internet technology, is the next major step in delivering the Internet’s promise of making the world a connected place.

What is Blockchain?

Blockchain is a distributed database existing on multiple computers at the same time. It is constantly growing as new sets of recordings, or ‘blocks’, are added to it. Each block contains a timestamp and a link to the previous block, so they actually form a chain.

Blockchain in IoT

At the current rate that how technology is evolving, it’s not weird to discuss the potential implementation of blockchain when it comes to connectivity and internet of things. IoT – is not complicated; It’s the concept of connecting any real-world devices to the Internet and devices to each other. The communication between these devices with each other and the internet can be facilitated through blockchain technology. The distributed ledger technology allows for a list of interactions between the devices and the internet. This way, we can keep track of not only which devices interact with each other and the internet, but also what is being done through each interaction. Blockchain is designed as a basis for applications that involve transactions and interactions, so you can see why and how this might help when it comes to IoT.

IoT and blockchain can be used to increase security infrastructure and also used for the extraction and analysis of data.

Conclusion

Blockchain technology is the missing link to settle scalability, privacy, and reliability concerns in the Internet of Things. Blockchain technologies could perhaps be the silver bullet needed by the IoT industry. The decentralized approach would eliminate single points of failure, creating a more resilient ecosystem for devices to run on.

We are absolutely thrilled to join the Oregon Enterprise Blockchain Venture Studio, a partnership that will continue to enable us to lead in the growth of proven enterprise blockchain solutions to serve local, national and global healthcare markets.

About OEBVS Program

This year, R/GA Ventures, a subsidiary of consultancy R/GA, announced their 15th tech collaboration studio, with the goal of innovating blockchain technology, as well as create a “blockchain ecosystem” Oregon.

The project will be headquartered at R/GA’s Portland office.

There are six companies participating in this program aim to take advantage of blockchain technology and work in a variety of industries including healthcare, finance, education, and more.

“Over the last few years, we have seen blockchain technology evolve from early and sometimes experimental uses to increased adoption at the enterprise level,” said Stephen Plumlee, Vice Chairman of R/GA and Managing Partner of R/GA Ventures.

Companies in this program are:

Patientory (patientory.com) – Empowers end-users globally with a secure platform to manage and transfer their health data to achieve actionable insights for improved health outcomes and well-being.
Brave (brave.com) – Secure, Fast & Private Web Browser with Adblocker
Chronicled (chronicled.com) – Gives industries and enterprises the tools to build blockchain-powered supply chain ecosystems with built-in trust, automation, and privacy.
Concord (concord.tech) – Concord provides privacy-first data solutions that protect and reward brands and the people they engage with.
Everest (everest.org) – Decentralized platform incorporating a massively scalable payment solution, EverChain, with a multi-currency wallet, EverWallet, and a native biometric identity system, EverID. Everest delivers a complete solution for a new economy.
qiibee (qiibee.com) – With qiibee, businesses around the world can run their loyalty programs on the blockchain.

We’re excited to work with them and hope this will help us to the next step. We will keep you posted on our participation in the Oregon enterprise Blockchain Venture Studio (OEBVS). Stay tuned!

To learn more and stay in the know, visit patientory.com or follow @patientory on Twitter.

About Venture Studio

In 2013, they launched the first R/GA Accelerator out of New York office—going beyond financial capital to provide founders with access to R/GA’s award-winning talent and robust client network. Today, they’re building a history of startup acceleration with a new global model that takes a unique and multidimensional approach to corporate innovation.

About Patientory

Patientory empowers healthcare systems, providers, and consumers with a single, secure application for sharing healthcare data, providing unprecedented insight into each patient’s health and resulting in better, healthier outcomes. Patientory’s applications provide increased insight into an individual’s health management and empowers people to make better decisions, coordinate between care providers, and receive better care overall.