Three things to know
This was a big week for Illinois as both the State and a major Chicago-based trading firm announced new Blockchain initiatives. In healthcare, Blockchain medical records move closer to reality through a Gates Foundation grant.
The State of Illinois announced the Illinois Blockchain Initiative, a combination of five government agencies that are joining forces to make Illinois a leader in Blockchain innovation. The Blockchain Initiative has three objectives: first, create a favorable regulatory environment for Blockchain businesses. Next, the Initiative will invite Blockchain businesses to make their headquarters in Illinois. Third, the Initiative will develop specific Blockchain prototypes for the State. With this announcement, Illinois is making a commitment to Blockchain and could help the State become the North American hub for Blockchain innovation.
Also in Illinois, the Chicago Mercantile Exchange (CME) announced they had joined forces with the UK-based Royal Mint to trade physical gold on the Blockchain. The product, called RMG, is scheduled to begin trading in 2017. The combined efforts of CME and Royal Mint are designed to enable customers to trade faster, with lower costs, and increased security.
In healthcare, Blockchain-based medical records received a big boost when Factom received a grant from the Gates Foundation. The Factom model allows the patient or individual to control their own medical record. The project is focused on emerging geographic locations that have been historically prone to instability. This project will provide individuals with a confirmed identity as well as permanent and transportable medical records.
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