Hashed Health, a Nashville, Tenn.-based consortium leveraging blockchain and distributed ledger technologies to improve the U.S. healthcare system, raised an initial funding round of nearly $2m.
The round was led by Martin Ventures, which is led by chairman and founder Charles Martin, with participation from Shanghai-based blockchain VC Fenbushi Capital, led by Founding Partner Bo Shen.
The company intends to use the funds to foster collaboration among healthcare enterprises to advance distributed ledger solutions to address long-standing and systemic healthcare industry issues.
Led by Founder and CEO John Bass, Hashed Health is a healthcare technology consortium dedicated to leveraging the blockchain and distributed ledger to develop work groups centered on specific healthcare use cases.
To empower its members, the company provides value-added services such as network product management, product development, regulatory guidance and technology support services for blockchain networks. Hashed Health work groups focus on blockchain implementations to address a range of issues in healthcare including IoT, revenue cycle management, payment reform, medical records, insurance and healthcare/pharmaceutical supply chain logistics.