Most Innovative Startups in Blockchain – Part 3

The launch of Bitcoin (BTC) not just created a cryptocurrency but also put a spotlight on blockchain technology. kickstarting an entirely new industry comprised of companies developing applications underpinned by blockchain. In the last couple of years, hundreds of blockchain startups have been launched. Let’s take a look at some of the most innovative of them.

B3i

A blockchain initiative created by 16 global insurers and reinsurers, B3i is an amalgamation of these companies joining forces to explore the potential of blockchain technology in the insurance space. B3i was incorporated in Switzerland as B3i Services AG in March 2018. B3i has the potential to improve industry efficiency by up to 30% as it is one of the blockchain startups in the insurance space. B3i created a blockchain prototype for catastrophe excess-of-loss reinsurance contracts back in 2017. After testing the product, 38 insurers and brokers came to the conclusion that it makes transactions more secure and more efficient. It is expected to go live by the end of this year.

BurstIQ

From patient records to supply chains of drugs and vaccines, to regulatory information, the healthcare industry deals with a lot of data which requires high levels of security and any mistakes or malevolent attempts to tamper can have dire consequences. Hence blockchain is a perfect solution for the healthcare industry.BurstIQ is one of the startups that aim to disrupt the healthcare industry with blockchain, using the technology to create a platform that securely stores and manages health data. Enterprises can use BurstIQ to create better health and wellness products. Additionally, they can find marketplaces for insurance products. The company works with pharmaceutical companies, healthcare providers, governments, insurers and more to help them manage data and improve transparency.