Hashed Health, a new healthcare blockchain innovation company, has announced a major collaboration with a healthcare and technology initiative investment firm Martin Ventures, in order to advance blockchain solutions that address regulatory regimes and issues of the healthcare industry.

According to the reports by BitcoinMagazine, the company’s multi-pronged approach was revealed by Hashed Health COO Corey Todaro during a keynote address at Distributed: Health in Nashville, Tennessee that saw an audience of healthcare industry experts and blockchain specialists. Todaro mentioned that member organizations across the healthcare industry will be drawn and this scope of expertise will make the partnership unique compared to other business consortia.

“We include a broad range of types of organizations. Payers and providers, EMR (electronic medical record) and other data companies, supply chain companies, revenue cycle companies and middlemen, pharma, services and consulting can all have a seat at the table,” Todaro said as reported by Bitcoin Magazine.

Hashed Health partnership will bring industry leading healthcare organizations to learn about blockchain and these companies will solve pressing business issues in the healthcare industry including revenue cycles, data sharing, payment reform, insurance, supply chain provenance, among others.

The next level is the Development Studio that is focused on protocol-level implementation structures for healthcare initiatives. The collaboration will feed its ideas into the Development Studio, which will later engineer the solutions from proof-of-concept stage through business-level application development. It will then go for full product development and commercialization.

“Not every chain or platform idea will work with every proof of concept. We don’t want to try to control or generate a single chain for all of the healthcare but we want to bring the best-of-breed of the development cycle into collaboration with Hashed Health consortium members to generate that proof of concept,” he added.

Hashed Health plans to focus on the growing initial consortium in a move to hold its first Hashed Health Consortium membership meeting in the first quarter of 2017. The Development Studio will be focusing on producing four proof-of-concepts per year beginning in 2017.

The Linux Foundation’s Hyperledger project announced the formation of Hyperledger Healthcare Working Group (HLHC Working Group) that will aim to house and foster technical and business-level conversations about appropriate applications for blockchain technology in the healthcare industry. The group already includes participants from organizations including Accenture, Gem, Hashed Health, Kaiser Permanente and IBM.