Top 3 Blockchain Healthcare Companies to Watch in 2017

Baozou Commentary : Today, medical companies based on blockchain technology are redefining the rules of the game. In today's game, competitors are no longer identifiable, and the game has changed, so new rules and new strategies are needed. Bron.tech in Australia, Gem in California, and IBM in New York, USA, these three companies took the lead in responding and performed well, which is worth learning from.

Translation: Flora

Competitors will no longer be identifiable. New strategies will become necessary. The game has changed. Today’s rules may not apply tomorrow. Blockchain-based healthcare companies are redefining the rules, and there is much to learn.

Game theory is a branch of mathematics and economics that explores strategic situations in which multiple stakeholders with different goals can influence each other. Pioneering companies are using blockchain technology to change the rules of the game. The new game that focuses on consumer interaction will redefine transparency, permanence, and security across industries.

New game, new players

Game theory has come a long way. John von Neumann and Oskar Morgenstern summarized the classic game theory in their 1944 book, Theory of Games and Economic Behavior. Franklin D. Roosevelt believed that "competition has proved its significance in certain periods, and cooperation, which we must strive for now, will only come into play after competition ceases." Game theory analyzes strategic interactions and can be applied to economics, politics, and military science. In game theory, players (decision makers) adopt strategies (complete plans of action) and reap results (rewards or penalties) based on the strategies they adopt. A strategy is a complete plan that describes the actions a player will take in all situations.

There are many more common examples of game theory, including elections, auctions, wars, arms races, oligopolies (where a few companies dominate a market), certain aspects of animal behavior, the evolution of social norms, and of course, entertainment games such as Pokémon GO.

When playing board games like Monopoly, Risk, or Stratego, you knew who your opponent was. Today, the players are less obvious. Likewise, yesterday’s partner may no longer be the best choice in today’s competition. So follow these three leaders in the blockchain space and change the rules!

Bron.tech (Sydney, Australia)

Problem solved: Proving identity requires sharing too much identity information.

Why use yesterday's identity solution when playing today's games? Bron.tech is revolutionizing identity. A bold vision for a personally controlled digital identity platform encompassing legal, social and psychological aspects. Bron.tech has three flagship interactive products.

1. OWLEE is a distributed application reputation system that provides instant verification, identity management and operability for education providers, organizations and professionals.

2. Blockchain Digital ID is Bron.tech's identity document platform, which solves the issuance, authentication and use of digital identity by using cryptography and storing transaction proofs on permanent public and private ledgers (blockchain). Blockchain allows multi-party computing and shared identity.

3. Cyph.MD is a healthcare data sharing platform that uses asymmetric cryptography and a hierarchical authentication system, where each healthcare provider can issue identity tokens to its practitioners.

Gem (California, USA)

Problem solved: Personalized care compromises the privacy and security issues of generic infrastructure.

Worried about the hidden costs of trusting the truth? Gem combines automation and integrity to facilitate the establishment of data, identity and logical frameworks, allowing companies and industries to share data through customized blockchain networks. In the blockchain network, cross-industry applications can combine customers with products, services and interactions. Gem provides three complete solutions:

1. Distributed resource registries successfully define resources using blockchain.

2. Multi-party identity and access management controls access to allocated resources, such as manufacturing, IoT, and healthcare records.

3. Logical automation uses rules to simplify data interactions between companies.

Blockchain on IBM Bluemix Platform (New York, USA)

Problem solved: People don’t own their data.

Want to protect digital assets? Blockchain on the IBM Bluemix platform can digitize transaction processes, thereby protecting digital assets in a private virtualized environment. IBM's blockchain allows companies to manage, develop and test blockchain network technologies, which successfully establish blockchain networks using flexible platform and infrastructure supply. Core principles constitute IBM's blockchain solution: community (donated more than 44,000 lines of code to the Hyperledger Project), cloud (value-based services such as high availability, compliance and security), and customers (the ability to build, pilot and execute).

1. The blockchain on the IBM Bluemix platform guarantees the enterprise blockchain solution to the greatest extent.

2. The Hyperledger project has accelerated the development of open source, publicly governed, and cross-industry blockchain technology.

3. Docker Hub is designed to help companies effectively use and support distributed applications.

Who is playing the game?

In the heart of business, game theory is applied to the interaction of multiple players. Everyone knows the game. The competitive price of collective bargaining provides a similar structure for analyzing possible strategies and recommending the best strategy to each player. Adam Brandenburger and Barry Nalebuff of Harvard Business Review explain how game theory facilitates strategy formation in their article. Whether it is a high-stakes game or a game with no risk, there are five factors involved.

1. Players (participants);

2. Added value (unique value of each player);

3. Rules (structure);

4. Strategy (how a player's actions affect other players);

5. Scope (the boundaries of the game).

As 2016 ends and 2017 begins, looking back at the games and players your company is playing, you may have noticed that the game has changed, and you may not have noticed all the players. Explore partnerships, redefine the rules, create a new game, and become a player that other players don’t see.