The new blockchain startup incubator will open in Portland’s Pearl District. (Flickr Photo / ) An incubator designed to support startups developing blockchain products for businesses is launching in Portland this summer. The will bring a cohort of startups together to identify business problems that could be addressed by the burgeoning technology. A team of mentors will advise the entrepreneurs as they develop their enterprise blockchain products before presenting them at a demo event in October. Blockchain creates secure, decentralized records of transactions and investors on the technology’s possible applications in finance, retail, healthcare, and any business that requires record keeping. The new Portland incubator is a public-private partnership seeking to identify applications for blockchain that can be scaled by corporate partners. The goal is “to build a blockchain-based ecosystem, and position Oregon’s businesses and institutions to further compete globally,” according to R/GA Ventures, the organization behind the new incubator. R/GA Ventures is the investment arm of , an international advertising and marketing firm under the umbrella. “The intersection of the state’s technology workforce and commercial interests provides an opportunity for Oregon to be one of the first state sponsors of a public-private partnership to embrace blockchain technologies, potentially transforming how we live, work, play, learn, and govern,” R/GA said in a statement. The Oregon Enterprise Blockchain Venture Studio will launch July 29 and run through the October demo event. The incubator is currently accepting applications from startups. Technologists and government officials are already working to make the Pacific Northwest a blockchain hub. In March, the to give blockchain organizations a unified voice around public policy and marketing, as well as to create community and share resources.
Health care provider Providence St. Joseph Health acquired Seattle startup , which uses blockchain to collect payments more efficiently. The process of billing and collecting payment, called revenue cycle management, is a common headache for hospitals that has attracted solutions from Athenahealth, Experian Health, GE Healthcare Partners and others. Lumedic CEO Lincoln Popp. (Lumedic photo) Lumedic uses blockchain, the technology behind cryptocurrencies like Bitcoin, to share information between payers and providers on a distributed ledger. Providence said it’s the first integrated health care system to use blockchain for this purpose. By moving what is often a manual process to the blockchain, the companies hope to reduce costs. “New technologies like blockchain, artificial intelligence, and machine learning give us an opportunity to view the complexities of today’s health systems through a different lens,” said Venkat Bhamidipati, Providence St. Joseph Health CFO, in a statement. Renton, Wash.-based Providence, which operates 51 hospitals, has hired the Lumedic team and intends to keep it an independent company that will pursue partnerships with providers, insurers and others. Providence did not disclose how much it paid for the acquisition or other terms of the deal. Lumedic was founded a year ago by Michael Nash, the company’s chief product officer, and is led by CEO Lincoln Popp.
TAYLOR’S TAKE ON THE WEEK IN SPORTS TECH: A new football league controlled by fans is the latest endeavor to make use of blockchain technology. The begins play next year and will allow fans to be apart of everything from play-calling to hiring general managers. The FCFL will feature eight indoor football teams playing one hour-long games in a production studio on a 50-yard field. Games will air on Twitch, the Amazon-owned streaming platform whose video overlay technology will allow fans to call plays in real-time. The league is also using helmet cameras, embedded chips in balls, drones, and other tech. The league this week that it has partnered with , a Seattle-based blockchain consulting group, to implement a first-of-its-kind blockchain token system. Fans will be able to earn Fan Access Network (FAN) tokens built on the Ethereum blockchain; the more tokens collected, the more power they’ll have to make decisions. , co-founder of FCFL, told GeekWire that his team wanted to use blockchain for three reasons: Voting transparency: “We’re letting fans dictate the careers of coaches and players, and the plays on the field,” he said. “We need to be able to provide true transparency in the voting process so there are no questions about the results.” Tokenization: “We’re building a ‘real-life video game’ so it’s a natural fit to have tokens in the game,” he said. “We’re tokenizing voting power in the league so the more FAN tokens a fan owns/earns, the more voting power the fan will have.” Digital collectibles: “We’re going to be tokenizing the players in the league and creating non-fungible digital ‘collectible tokens’ for each player, similar to trading cards,” he said. “We’re working with New Alchemy on some interesting ways to incorporate the collectible player tokens into fantasy sports games for the league.” New Alchemy is also an investor in the league, making a “low seven-figure” investment, Farudi said. Farudi and his colleagues tested an initial version of FCFL last year , an Indoor Football League team, and letting fans control plays with an app. FCFL is the latest evolution, expanding the format to an entire league with partners like Twitch and IMG Original Content. Highlights from the week in sports tech Amazon bought up more live sports rights, this time to stream the U.S. Open in Ireland and the U.K. on Prime Video. The NFL is investigating what it alleges as widespread fraud related to its $1 billion concussion settlement, reports . Amazon-owned Twitch from the NBA’s new 2K esports league. reports that MLB and the NBA are in talks to divest their stakes in DraftKings and FanDuel. Seattle startup Vicis for safe football helmets. Seattle esports betting startup Unikrn made another acquisition, to create the first “crypto gaming platform.” Another Seattle startup, IdealSeat, to integrate its ticketing intelligence platform. University of Pittsburgh awarded two projects for its first : tech that improves swimming technique, and a bio-screening platform that measures a user’s nervous system. Did you sign up for ESPN+? In case you missed it, on ESPN’s new $5 per month streaming service. Mobile Sports Report is out with . Blockchain-based startups are . Thanks for tuning in, everyone! — Taylor Soper