Whilst the healthtech market may still be a relatively new industry, that hasn’t stopped it from thriving. ABHI, the UK’s leading industry association for health technology recently reported that the industry has a combined turnover of £24bn.
Whilst a Deloitte study suggested that by 2018, the global market for digital health would be worth £43bn, almost double from 2014.
At the moment there is a great deal of interest in the healthtech market, with lots of startups taking their offering to market.
We’ve looked at some of the hottest and most innovative healthtech startups currently in the UK.
You’d use compare sites to find a discounted holiday, cheaper tariffs for your electricity or water and now you can do the same for finding live-in carers. hometouch have handpicked the finest carers from across the country, who are on hand to help your loved one continue to live in their own home with dignity and most importantly safely.
hometouch was created when founder Dr Jamie Wilson, witnessed first-hand the floors in the carer system whilst his patients struggled to find reliable dementia care at home. A combination of families being let down and hardworking carers being underpaid and undervalued didn’t make for a great situation.
Currently, there are over 500 vetted live-in carers on the hometouch database offering round the clock expert care, allowing you to pick a carer who has expertise in working with specific conditions or can speak different languages.
Whether it’s advances towards a cure for cancer or the tell-tell signs of dementia to look out, stories about our health can sometimes feel non-stop. Aside from hiring a full-time doctor to be by your side 24/7 which would provide to be rather pricey, Thriva is the next best thing.
From a simple blood test, Thriva allows users to understand what’s really going on in their body.
Want to find out why you aren’t sleeping properly? Or why you always feel tired? Simply take the test, post it to a UKAS accredited lab and get the results back online within 48 hours. Thriva allows you to track your progress and see how your reports change over time.
A symptom from illnesses such as Parkinson’s or someone who has suffered a stroke can a side effect of suffering from the freezing of the gait. This can cause an individual to feel as if they are frozen to the ground.
Path Finder offers a solution to this, through visual cues and lasers which shine on the floor in front of the patient, provides a great aid which gives the individual something to work toward.
Open Bionics is the startup taking disability and turning it into a superpower, creating an affordable, assistive device that enhances the human body. With an estimated five million upper limb amputees around the world, Open Bionics offers a solution for children as young as 9.
The Bristol-based startup have created fun themed bionic arm covers ranging from Iron Man, Star Wars to Frozen. Co-founders Joel and Samantha were recently named as 2018’s Hottest Startup Founders in Europe, at The Europa Awards.
The London based business creates software to make minimally invasive surgeries more efficient and effective. It’s through this software that allows planning for surgery simpler, faster and more accurate.
Through harnessing the power of big data, predictive computations and Al, Oxford Heartbeat has created software that converts 2D medical scans into 3D images.
This can allow surgeons to be able to test various medical devices for each patient, before having to physically pick the best tools or method for the surgery.
If you’d like to find out more about our technology or healthcare PR services, please speak to a member of our team today.
According to Our World In Data, the world population has risen from 6 billion in 1999 to just under 8 billion in 2019. The continuous population growth puts a considerable strain on how we travel daily, larger economies mean more vehicles on the road, more trains, planes, boats and vehicles. More importantly, we all get so frustrated at more traffic jams.
We’ve taken a look at seven businesses within the transport tech industry that are making commuting and travel that little bit easier for consumers.
Virtuo, is a mobile-only car rental service with 2,000 vehicles across Europe and the UK. British drivers can rent a Virtuo car from 12 locations in London, one in Manchester and one in Edinburgh, with further expansions planned in 2019. The service is also available in cities across Spain, France and Belgium.
The Virtuo app allows users to seamlessly register, book and unlock one of Virtuo’s brand new premium Mercedes A-Class or GLA vehicles. The service uses technology to take all the pain-points out of traditional car rental, allowing renters to use their phone to unlock the car, file a damage report, and track real-time fuel and mileage information, among a whole host of other features.
The app also scans the user’s driver’s license to carry out a DVLA check to ensure they can drive the vehicles.
Virtuo launched in London in the summer of 2018, and its recent launches in Manchester and Edinburgh followed a successful €20 Million Series B fundraise led by Balderton Capital earlier this year. Since launching, Virtuo’s 100,000 UK users have driven over one million miles in the UK.
Meet the UK-based startup that gives car buyers and car dealers the opportunity to connect in a smart and efficient way. Carwow is dedicated to bringing you the best offers from local and nation-wide dealers, with variables such as prices, location and dealer rating.
On average carwow is saving consumers almost £4,000 per vehicle compared to the recommended retail price of a car. With £2 billion worth of cars bought through the platform and a 9.4/10 Trustpilot rating, you’d be foolish to not check out the site next time you’re looking for an upgrade!
There’s no hiding from it, cars are playing an increasingly important role in global warming. Petrol and diesel-fueled cars produce dangerous greenhouse gases, to help save the environment, alternative methods are going to have to be pursued.
Pod Point has been the UK’s leading provider of electric vehicle charging for the past decade, with electric producing zero emissions and portraying a green image, it should be considered a major option for the future of travel.
Currently, charging points are at locations such as Sainsbury’s and David Lloyd’s nationwide. Pod Point’s core values are that they believe travel shouldn’t damage the earth, so they’re actively helping people adopt clean transport in their everyday lives.
Founded in 2007, with the aim of answering any parking query at any time in the world. Parkopedia allows drivers to find the closest parking to their destination, whilst also telling them how much it will cost, and whether the space is currently available. Which means no more driving around aimlessly looking for a parking space.
The app which not only updates with real-time parking availability, it also allows consumers to reserve parking spots online. With over 70 million parking spaces across 89 countries, you can see that this transport tech business really does deserve its encyclopedia namesake!
There’s nothing worse than getting stuck in a traffic jam, the stress can become unbearable. This is what led to two friends, Sam and Barney to do something about it. They decided to build an algorithm that could understand when large groups of people wanted to travel. They created Zeelo a data-driven transportation service which offers convenient coach pickups for consumers and offer direct routes to your destination. Watch this space, as we predict 2020 will be a big year for Zeelo!
Founded in 2016 by Anthony Chisnall, who had previously spent two decades working in logistics for small fleet operators and large international hauliers. DriverNet is fundamentally a smart sat-nav created specifically for delivery drivers. Some of the features include real-time tracking and alerts for clients via email or text, and an operational dashboard which includes integrated customer relationship management channels.
Combining friends and taxi, The UK’s number one carpooling scheme, ‘Faxi’ is certainly something to check out. Users can find and connect with colleagues who share the same journey to work and who commute at similar times. The built-in app capability means that in a matter of minutes you can create your own carpooling community. The data suggests that nearly 50% of people would car share and yet millions of people travel every day with an empty seat next to them.
Faxi’s aims are to reduce congestion, pollution and save people money and time while providing a safe and efficient journey.
Are you interested in learning more about what PR could do for your business? Do you have a product ready to launch in the UK? Speak to one of our award-winning teams today to find out more.
With August upon us, you may (already) be thinking about and budgeting for your 2020 PR plans. While the UK and Europe’s future political relations remain up in the air for now, your public relations don’t have to be the same, and if you’re a company operating in both the UK and EU, it’s important to think about how you’ll reach your various audiences through PR. As you plan for the year ahead, here’s my advice on how you should procure a European PR agency.
Have a clear brief
If you’re planning to bring on PR agencies for your European PR, it’s absolutely vital that you have a clear brief that summarises your goals, which territories you need covered and priorities, what activities you expect the agency to do day-to-day, your budget per month and your timelines for the pitch process and starting a contract. Creating a request for proposal (or RFP) is a great place to start with this, and reaching out to agencies with this RFP will prevent you having to answer the same questions over and over, ensuring the agencies can give you a relevant proposal that fits your needs. It’s also important to be clear on what your company can offer to press in each region. For example, if you want to do PR in Spain, do you have a senior spokesperson based in country? Or one who can speak Spanish fluently and is comfortable doing interviews with the press? These details will help agencies show you what will be realistically achievable.
Consider your budgets and scope
Before beginning a European PR campaign, it’s important to consider what budget you have, how you will split this across each territory and whether each country’s PR team will be required to do the same brief of work. For example, if you know that the UK, France and Germany are your most important markets, they should have the biggest chunks of the budget (and in turn different KPIs or a broader scope of work).
If your budgets are low, you may also be better off starting with two to three of your most important countries to begin with, rather than spreading the budget thin across six or seven regions. This will ensure you can achieve better results in the most important areas, rather than a few ‘okay’ pieces of coverage in many countries.
Coordinate or delegate
European PR can differ company to company, with some in-house PR managers choosing to oversee and manage their agencies across Europe themselves, while others will want one of the PR agencies to act as the hub agency that manages everyone and reports back to the client on behalf of the group. Think about which approach will work best for you and your company.
Hiring a coordination agency has many advantages, as it ensures you have an advocate on your team who can guarantee that every team is meeting their KPIs, keeping track of deadlines, and maintaining consistency across Europe. If you’re going down this route, be sure to ask your prospective agencies about how they would manage the coordination process should you work together to understand their usual approach and whether it’s right for you.
Global agency or partners
Finally, it’s important to decide if you want to work with an agency that has its own offices in multiple countries, or whether you’ll work with an independent agency that has strong agency partners in key territories. Some companies choose to appoint agencies with owned offices in different countries across Europe, as it means they only have to hire one, and these agencies are often large, household names.
That will work well for some, but it’s important to remember that each country’s office may have different strengths, so you should investigate this during any procurement process. Many companies choose to instead appoint independent agencies with great partner relationships, as these provide a boutique offering and generally will keep the pan-European PR costs down compared to larger agencies’ fees.
Ultimately the most important part of the tender process for your European PR is being transparent and clear about your expectations and goals for each country.
If you’re looking to appoint an agency for your European PR campaigns, do get in touch with The PHA Group to see how we can support your objectives and goals and to tell you more about our international partnership network.
Legal technology has finally broken into law.
Working in the media industry, you simply cannot fail to notice the way the invention of the internet, the mobile phone and the unfortunate discovery of social media has had in the last decade upended the entire sector. It’s like how conversations about the weather, the tried and trusted British medium for small talk, have sort of lost their innocence due to the apocalyptic nature of global warming.
Just as one can no longer nod to the lovely sunny day we are having in February without causing a worry about rising sea levels and extreme weather conditions, it has also become rather hard to have a chat about the British press without wondering whether everything is going to be ok in 10 or 20 years.
Considering therefore, the significant impact that technology has had on the media, it makes it all the more incredible that during the exact same period, another of the UK’s globally respected industries, the legal industry, has been steaming along as if the technological boom had never happened.
While consumers have become almost relentless in their pursuit of free content since technology’s genesis moment, we have by contrast happily begun paying more for two things: plastic bags and lawyers.
Since the recession, legal fees have more than doubled for a service that has remained spectacularly similar. The industry now generates over £25bn annually for the UK economy under a system that rewards slower working methods. All this is very attractive and very confusing for technology companies who can offer solutions to the latter but might harm the former.
While many have fought the law, only a few have won.
Here are our picks of the companies who have broken the law…
Walk into any bookmakers in the country and you will find a detailed layout of the form for any horse or greyhound that runs in the UK. Now imagine if that concept was applied to lawyers. Premonition calls itself the world’s largest litigation database, but what really makes it break the mould is how it ranks lawyers by win rate. It knows which lawyers win in front of which judges with which types of cases. It’s possible because of how law is so often decided by precedent, much unlike racing. Premonition claims this can increase win rates by an average 30.75%. When law is worth big money, that’s substantial.
The FT have compared the methods to sabermetrics, the empirical analysis technique used in Baseball made famous by the Oakland Athletics. Faced with the franchise’s extremely limited budget for players, GM Billy Beane turned to studying data to try and give his side a competitive edge. Despite their lowly status, by recruiting players focusing purely on outcomes instead of perceived baseball wisdom, the franchise clinched the American League West title, matching the New York Yankees for wins in the regular season. The tactic has since been adopted widely across the MLB, reducing its effectiveness, but it will be interesting to see how long it takes before the whole UK legal industry is playing its own version of Moneyball.
Almost 8% of the start-ups founded in Europe are AI companies, with the majority of those being founded in the UK. Based in the “Silicon roundabout,” East London’s RAVN could be the pick of the bunch. Their cutting-edge AI technology speeds through thousands of pages of documents to help organise and summarise their contents and immediately collect the requirable data. When legal cases can reach over 100m pages, it’s easy to see why this job needs to be outsourced to the robots. Since acquired by iManage, even the Serious Fraud Office has enlisted RAVN’s help to tackle the large piles of documents central to their work.
When there is a will there is a way, and in this case, there is a way to write your will without any lawyers. Why? Well taking out the legal professional can save you quite a fair bit of time and money. Farewill offers an online journey through a 30-minute questionnaire that produces a will at the end. Its team of experts then check over it to make sure everything is clear, then you print and follow legal protocol by having it signed by two witnesses. All for under £100.
What’s most interesting about Farewill though is the concept of not using a lawyer at all. Time will tell how many other areas of the legal world will be streamlined like so to save people money and hassle. If they keep that up, many may welcome our new robot overlords.
Another contender for best use of AI could be Luminance. Barely four years old, the company can already count 10% of the global top 100 amongst its clients. The software combines machine learning from Cambridge University with a slick interface that gets to work on reading and understanding your documents. It then picks out the important information potentially saving weeks of work. One client said it saved them 85% of the time they would have otherwise spent on a recent GDPR task. Only problem now is working out where to find those billable hours.
Life isn’t always fair, but Kleros is? Kleros is a Paris-based Greek-named app who are offering one of the most unique solutions in modern law. As our lives are moving more and more towards global online platforms, Kleros argues that disputes will arise in areas that cannot be solved by traditional court systems. Their solution? That’s right: A Blockchain Dispute Resolution Layer.
In layman’s terms, Kleros is a peer to peer platform that uses crowdsourcing and blockchain to put your dispute into the hands of a community. The assembled group of online jurors pass their judgement on your case, which Kleros claims can be based on virtually anything.
The use of blockchain here provides two benefits. The first is security, making any attempt for one of the “claimants” to influence the result almost impossible. The second is incentive. Jurors are financially incentivised to assist with the case, but also to assist in the correct manner. Jurors are only paid during the token redistribution if they vote for the agreed resolution. For those familiar with game theory, this works like a focal point or a Schelling point. The theory says that people, or players in a game, have an apparent ability to co-ordinate without communicating, because some answers feel natural or relevant. In this way, jurors can find a solution (or equilibrium) without communicating, as they are all more likely to vote in favour of the fair or expected decision. Simple.
Give any lawyer three wishes, and the first thing they will ask for is state-of-the-art deep learning and reinforcement learning model that can predict the legal language suitable for lawyers and draft up contracts. Luckily, Genie AI’s SuperDrafter has the machine learning capabilities for the job. Using academic research from UCL and advice from Lord Neuberger – Genie AI has set out to solve one of the most brain draining activities in the legal world, writing up contracts. Yet another pesky way these technology firms are eating into the billable hour!
And the best news. Its anonymiser component means it’s GDPR compliant! The AI can automatically redact sensitive information from contracts and preserve client confidentiality. Whoopee
If you’re interested in finding out more about our experience or how we can help profile you or your business please get in touch today.
Female health is something that was once spoken about in hushed tones, with women hiding behind phrases like ‘women’s problems’ and ‘Aunt Flow’. But gone are the days of having whispered conversations behind closed doors, as the era of Femtech has finally arrived, and it’s here to stay.
Previously dismissed as a niche, the Femtech industry is finally being taken seriously, with the market set to be worth £39billion by 2025. We’ve picked our seven favourite companies who are focusing on women’s health and looking to tackle everything from fertility to periods:
This handy app allows you to track your period and uses that data to predict your period, PMS and fertility windows. The platform wants you to learn about your personal patterns and has a whole range of predictions and notifications to help you take control of your time of the month. The need for Clue became clear very early on, as they were inundated by requests for health information, which led to conducting a global survey about periods and how much people know about their reproductive health. The results led to the creation of a health hub to answer questions, and Clue has committed to supporting further research, having recently announced that they will offer funds to researchers hoping to use their cycle tracking data to answer scientific questions.
Clementine was created by co-founders Annie Ridout and Kim Palmer to help boost the confidence of women who were stressed and unsure where to turn, unable to afford one-on-one therapy. The app has sessions on sleep, confidence, stress, body image and mantras. Each series contains several hypnotherapy sessions for you, designed to guide you to a calm, meditative place. The app is free and is available on the App Store.
This breastfeeding start-up wants to demystify breastfeeding for women by creating a network for women to ask questions and find answers. The content is tailored to your needs, and best of all it’s free to use. As well as acting as a resource centre, the platform contains tests, plans, activity logs and much more, allowing you to track everything feeding-related in one place. In addition to their family facing product, LactApp offers a separate app for medical professionals and provides specialised training in breastfeeding from a global perspective.
Designed by doctors, scientists and engineers, Ada is your personal health care AI app. It allows you to manage your health by asking simple, relevant questions which it then compares to similar cases to determine the root cause of your symptoms. Following your assessment, you will be advised on what you should do next, whether that be going to a doctor, pharmacist or hospital. The app is available in 5 languages on the GooglePlay store.
A female healthcare companion for life, Syrona Women helps women monitor their own gynaecological health via subscription-style tests. They currently focus on fertility, endometriosis and gynaecological cancers, and have recently launched their first fertility test, with more to come. The start-up was co-founded by Anya Roy, who faced her own ovarian cancer diagnosis in her early twenties and wanted to develop something that lets women screen for cancer easily in the comfort of their own home.
KaNDy Therapeutics is a UK based clinical company that is looking to help women tackle chronic, debilitating health conditions. They recently developed their NT-814 drug which is a non-hormonal treatment for multiple symptoms of menopause including hot flashes and waking up in the middle of the night.
The HiMirror Mini Premium is a great product to help you keep track of your skin. A smaller version of the HiMirror Plus, the Premium provides you with comprehensive skincare analysis, personalised advice and skincare recommendations, and also features ‘My Beauty Box’, a virtual inventory of all the products you use to ensure your skin remains at it’s healthiest. One of the best features is ‘Safe Skin’ which identifies allergens in your products and provides you with regular reminders about applying SPF.
Are you interested in learning more about what PR could do for your business? Do you have a product that you’re ready to launch in the UK media? Speak to one of our award-winning teams today to find out more.
The last decade has shown that cutting-edge innovation and tech solutions have been a welcomed addition to industries such as recruitment or banking. Technology has permitted tasks and processes to become automated and allowed individuals to focus their attention on more pressing matters.
One industry which has been slower to embrace technological advances is the legal sector, but with a recent sharp rise of legal tech businesses emerging, it seems it’s only a matter of time until the legal sector makes the switch and commits to innovation and technology just like the aforementioned industries did before them.
One pocket of legal tech which has seen a sharp development is legal management platforms which help to log enquiries, manage current clients and include billing for both lawyers and law firms. Here’s our five to watch out for.
Meet the pioneering business who is helping lawyers deliver a better service to their clients. Zaliet allows clients and lawyers to connect and provide one central hub. Clients are then able to communicate and work with a law firm no matter the hour or day. Zaliet created the concept of a service portal, where you and the client can gain access to phone numbers, access document, book appointments and pay their bills.
From within the hub, law firms can also access prospective clients, log calls, emails and update the client’s status, so lawyers know exactly when they are due to follow up.
With a similar process to how Zaliet functions, lawsyst is an all-in-one legal case management system to help law firms and individuals stay on top of their enquiries. One key feature of lawsyst is the integrated phone system which allows users to receive and make calls with a click of a button and simultaneously allows voice memos to be attached to inbound leads.
The sophisticated interface allows fee flexibility, so whether it’s a fixed fee, agreed fee or an hourly rate charge you can tailor the quote and response to the client.
Established back in 2014, originally Perfect Portal was a budding concept which delivered immediate quotes to prospective clients, nowadays Perfect Portal has formed into a business management system that services almost 600 law firms with offices in both the UK and Australia.
Check out the quote functions in Perfect Portal which range from fully customizable quick quote calculators, allowing clients to obtain an immediate quote to more personalised branded quotes which require a higher level of detail and input.
Welcome to one of the most secure places on the cloud to store, sync and share files easily.
Like global messaging service Whatsapp, Tresorit uses end-to-end encryption software which prevents data being read or secretly modified, only the intended user and who they decide to share the document or information with can read the files – ideal for an industry inundated with confidential documents.
Not even Tesorit themselves can access your files thanks to their zero-knowledge policy.
As an extra safety precaution against potential hackers, Tresorit don’t have access to your encryption keys or to the personal data you manage in your files, meaning if the servers were hacked your information and data would be safe.
Although it isn’t limited to just the legal industry, we thought Keepabl was too good not to include. With notable high-profile examples such as British Airways and hotel chain, Marriott being fined due to severe GDPR data breaches, businesses need to be doing more to make sure their systems are safe and secure.
The computer software system provides the remedy for GDPR headaches up and down the country for both public and private organisations. With guided help and data map analysis and article 30 records, Keepabl have simplified the process of staying compliant.
Providing great insight and direction is their founder and CEO, Robert Baugh who spent 13 years as General Counsel for mid-market organisations, specifically implementing compliance programs fitted with complex regulations.
If you’re a B2B business or a legal firm looking to refine your UK media strategy and interested in finding out how we can help raise your profile, please get in touch today.
The summer heatwave has officially arrived, with temperatures north of 30 degrees expected, London will be hotter than the likes of Ibiza, New York and Miami.
Whilst the lures of rooftop bars and ice-cold rose makes the heat manageable during the day, when it comes to the nights, trying to get to sleep and stay cool can be quite a tricky process.
But there’s no need for Londoners to suffer sleepless nights anymore due to technology advancements. We’ve taken a look at five tech gadgets that are helping people sleep better in the heat.
With the sun rising on average at 5 am most mornings, people find themselves waking up earlier than usual. In fact, just the smallest amount of light can disrupt REM and deep sleep, leading to that groggy feeling when you wake up. The manta sleep mask guarantees 100% total darkness. When compared to most other sleep masks which are uncomfortable and don’t block the light out fully, consider Manta to be the answer you’ve been searching for.
With a slick Velcro design, it allows for you to fine-tune your mask so you get the best possible fit, and100% blackout.
Advances in technology have allowed us to count our steps, track our calories and monitor our heart rate and now we can even track our sleep.
The Withings sleep mat provides an in-depth analysis of your sleep, by tracking both sleep cycle and your heart rate and detects snoring. Wake every morning to find out your sleep score and learn how to improve your sleeping patterns through the in-app coaching program. The programme helps you to reduce fatigue, improve health and support weight management.
Simply place the mat under the mattress after a one-time setup process, and sync via Wi-Fi, then check out the data the next morning!
Created by former insomniacs who originally struggled to find simple, safe and drug-free solutions to their sleep problems. Dodow is a circular box design that you put on your bedside table which projects light onto your ceiling.
The aim is to breathe in rhythm with the light, so inhaling when the beam expands and exhaling when it retracts. You’ll notice that the flow of your thoughts will decrease due to your focus being on the light.
The numbers are impressive, 61% of users have stated they fall asleep 2.5 times faster using Dodow than they did before, and 76% of users gave it a score of 4 out of 5 or above.
At £49 not only is it an effective alternative but it’s also a far healthier alternative to sleeping tablets which will leave you feeling refreshed the next morning.
Continuing with the theme of cutting-edge technology is one of the UK’s first Smart Fans, AirGo. Certainly, something we’ve all needed this week!
It couldn’t be simpler, download the app and control the fan from anywhere, so when you arrive home after a hard day at work to a cool house you can just sit and chill…
But the technology doesn’t stop there, connect your AirGo to your trusted voice assistants such as Amazon Alexa or Google Assistant and make it voice-activated.
A common factor for people not getting enough sleep is down to excessive use of mobile phones right before heading to bed. iPhones and other smartphone brands emit blue light which can delay the release of melatonin, the hormone that regulates sleep.
The Ruark + Linley Tempo Radio provides the perfect opportunity to leave your phone out of the bedroom, with a built-in OLED screen projecting the time and alarm setting capabilities whilst having the ability to play both DAB and FM
Are you interested in learning more about what PR could do for your business? Do you have a product ready to launch in the UK? Speak to one of our award-winning teams today to find out more.
The process of verifying the identity of a user or process.
The first cryptocurrency – or digital form of currency – that was created over a decade ago. Bitcoin is completely decentralised and can be sent to another person in exchange for goods directly online without the need to involve a central bank or payments system like PayPal.
Similar to a page in a book of records. A block records some piece of information that has not previously been entered into another block.
The idea that power resides with one single entity. In centralised systems, such as traditional banks, all control over transactions is held by the bank not individuals.
A store for cryptocurrency that is not connected to the internet. Usually this means the wallet is stored offline in a server.
What is needed across all of the nodes for a new block of data to be added to a blockchain. Without consensus that the information is correct, a block cannot be added to the blockchain.
A form of digital currency. Cryptocurrency was born out of the frustrations that followed the 2008 financial crash. The theory is that digital currency prevents people being able to “double spend” i.e. send £10 to pay off a payment but then use that same £10 to pay someone else, as all transactions are recorded on a blockchain and these cannot be overwritten or changed by anyone.
The practice of securing communication using clever and complex coding.
The idea that power does not reside with a single, central point of authority such as the Bank of England. In a decentralised system like a blockchain, power is held equally by each individual that contributes to the chain, not by a central entity that controls and manages all the transactions.
Your digital identity is made up of every piece of information about you on the internet, that when added together paints a picture of “you”. This can include your name, address, IP address, images, posts from social media channels and a number of other factors.
A digital code – typically generated by public key encryption – that is attached to a document sent electronically which verifies the contents and the sender’s identity.
Ethereum is the name of an open source, public blockchain-based computing platform and operating system. It’s widely recognised as being one of the most well-known and used blockchains in the world. The Ether token’s blockchain is generated by the Ethereum platform.
A platform that allows customers to exchange digital assets such as cryptocurrency for other assets such as traditional fiat currency or other cryptocurrencies.
What happens when a blockchain protocol diverges into two different paths going forward.
A store for cryptocurrency that is connected to the internet. They are “hot” because you can pay out withdrawals instantly.
The Hyperledger project is an umbrella project of open source blockchains that was started in 2015 to support the collaborative development of blockchain-based distributed ledgers.
Stands for “Initial Coin Offering”. Much like a traditional crowdfunding campaign, companies who ICO offer people the opportunity to invest in their company in return for tokens – usually the native token of the platform they are looking to create. The idea being that as the platform they create gets more popular, the value of the token will also increase, and investors will reap the benefits of being involved right at the start.
The traditional definition of “ledger” is a collection of financial accounts and this is basically the same when talking about blockchain and crypto. A ledger in this sense is a record of something – a transaction in the case of crypto – that forms part of the blockchain.
A payment protocol that operates on top of a blockchain-based cryptocurrency like Bitcoin, that enables fast transactions. It’s been said that this could help solve cryptocurrency’s scalability problem.
Often compared to Bitcoin, Litecoin is an open source software project and cryptocurrency. The creation and transfer of coins isn’t managed by any central authority.
Mining is the backbone of a cryptocurrency network. Miners solve complicated computational problems which allows them to chain together blocks of transactions; for doing this they are rewarded with newly minted cryptocurrency.
A fundamental piece of a blockchain’s network. The blocks of data that make up a blockchain are stored on nodes, which can be any form of device, usually computers or servers. All nodes on a blockchain are connected together and they consistently exchange the latest data with each other, so all nodes stay up to date.
Stands for “peer to peer”. This is the process of cutting out the middle-man; sending assets or currency to another person directly without the need for fees or wasting time with intermediaries.
A currency issued by a private entity, whether an individual, company or decentralised entity such as a blockchain-based platform. Not to be confused with fiat currency, which is issued by a government.
This is the secret number that allows a cryptocurrency to be spent. Every private key is mathematically related to all the cryptocurrency addresses that are generated for a person’s wallet.
A completely permission-less blockchain, where no one has control over the network and data is completely secure because no one can change data once it has been added to the blockchain.
Both a platform and a cryptocurrency. The Ripple platform is an open source protocol which was designed to enable fast and cheap transactions. The platform also has its own cryptocurrency – XRP.
A computer protocol that will digitally verify, enforce or facilitate the terms of a contract. They allow credible transactions as agreed in a signed contract to be actioned without the need for a third party.
A digital asset that is backed by traditional assets such as fiat currency or gold which have a more stable value; as such they are allegedly more stable than other digital assets like cryptocurrency.
The process of issuing a blockchain-based token that digitally represents a real tangible and tradeable asset. This is pretty similar to the traditional process of securitisation, but with a modern twist thanks to using blockchain.
The document companies use to set out their strategy and technical protocols for the product they are looking to build. Whitepapers are usually produced to offer information to people looking to invest in an ICO.
If you’re looking for public relations support for your blockchain business speak to a member of our team today.
The last decade has seen blockchain technology go from a relatively unknown entity to an unquantifiable beast. Understanding what blockchain is and how cryptocurrencies function can sometimes leave people feeling overwhelmed.
We’ve profiled three industries below and highlighted how blockchain has been used to help give a better understanding of how the technology can bring major benefits outside the world of Bitcoin.
Food supply chains
It might seem an odd industry for blockchain technology to be implemented in, but ask yourself; how do you know the sustainably caught fish you’re eating is actually sustainable? Recent research has suggested that fraud in the seafood industry is a big issue. If you think about the journey a fish takes before being served up to you, manually tracking the journey can be as hard as swimming upstream…
One tech startup is leading the way in turning the tide on this situation. UK based Provenance has created a blockchain-based platform that helps brands become more transparent when it comes to their produce’s journey from sea to plate. Harnessing its platform, businesses can easily gather information about a product’s origin and the journey it’s taken so consumers can have confidence in what they’re eating.
With longer life expectancy and an ever-growing population, the UK’s road congestion is currently at an all-time high and is only set to continue to skyrocket. The global rewards platform, Dovu is trying to tackle this by making the public more conscious of how they travel. Dovu users will earn tokens in return for sharing and improving the way they travel. In turn, by analysing the data, mobility companies will be able to get closer to their customers and in the long run help cities get smarter.
One of the key features of blockchain is once information has been added to the ‘chain’ it cannot be changed. In the music industry, this could provide critical when it comes to determining who owns assets such as the masters to royalties of music.
Enter award-winning artist Imogen Heap, who has headed up her very own blockchain project, Mycelia, which she hopes will cut out the ‘middlemen’ and ensure artists get paid properly for their work. Heap has emphasized that she wants to create a fair-trade environment with a simple one-stop-shop-portal to upload newly created music.
The adoption of blockchain technology in an industry like recruitment, might have been seen as something of an uphill battle. But businesses such as former client APPII, have pioneered a strategy which enables candidates to apply for roles using blockchain verified CV’s.
Through a digitalized tracking system candidate CV information such as their current workplace, past experience, their education or even training qualifications can be verified easily. This significant step forward in the industry allows for improved streamlined checks including the reduction in referencing as everything would have already been verified. It also allows the caliber of candidates applying for roles to be verified quickly and much more efficient for hiring managers.
When it comes to police investigations, establishing a clear trail of evidence is vital to uncovering the truth. Blockchain technology can help flag transactional patterns which aid the authorities in tracking any suspicious financial activity.
A business leading the way is Elliptic, run by former law-enforcement agents and computer scientist; Elliptic help revel the truth behind Bitcoin activity.
Currently the Elliptic software can be found in some of the world’s largest banks and Bitcoin exchanges, monitoring billions of dollars in transactions every month. The software itself is used to identify and investigate Bitcoin’s role in cases of terrorist financing, arms trafficking, blackmail and child pornography. These are the people who find the truth in data.
If you would like to find out more about how PR could connect you with the right audience for your blockchain offering then please get in touch with us today.
London Fintech Week has arrived, with loads of exciting talent on show. Insurtech is a key theme at this year’s event, so we’ve looked at London’s hottest companies in the space. Here are the four we are most excited about.
Cycling has shot up in popularity, especially in cities. A cheaper, healthier and more environmentally friendly alternative to cars and public transport, cycling in London is up seven times compared to 1977. With so many people out on their bikes, scrapes and thefts are inevitable.
Fortunately, Laka is here to help. Their bullet-proof cover protects you against theft and damage, and the cover is very comprehensive. What’s more, the traditional hefty mark-ups of insurance firms of old are nowhere to be seen. 80% of what you pay goes towards helping fellow members who have damaged or lost their bike, and 20% keeps Laka running.
To date, Laka members have saved 62% on bicycle insurance, so get on your bike and have a look at Laka!
As the cockney inspired name suggests, Cuvva isn’t a fan of jargon, paperwork or being put on hold. To solve this, they have cut out the middlemen, scrapped the old and outdated systems and put it all in a helpful app.
Cuvva specialise in travel and motor insurance. They offer temporary car insurance, for as little as an hour up to 28 days, and you can extend the policy through the app. Their fast, flexible travel insurance for your foreign trips covers hundreds of destinations and covers over 150 sports and activities, so there’s no excuse to not enjoy yourself.
They haven’t skimped on the detail either, with 24/7, real human support, and comprehensive cover! Everything is done through the app including documentation and policy buying. So, before you head out on the road this summer, make sure you’re Cuvva’d.
Business insurance, sure, it’s not the sexiest topic, but get it wrong and that will be a costly mistake and for start-ups, it could be fatal. Fortunately, Digital Risks is here to help fast-moving scale-ups with flexible insurance solutions for new and existing risks they face.
Their flexible subscription-style policies allow companies to cancel or change policies at a month’s notice and offer businesses the perfect cover for them. Combining industry-leading, bespoke products with technology means they can offer lower premiums for more comprehensive cover. The 24-hour support and fast settlements make them perfect for any business.
An insurtech company providing much-needed innovation to insurance companies themselves, Quantemplate is a London-based insurtech firm specialising in machine learning, data transformation and analytics.
Founded in 2012, it’s since announced a significant Series B round following £2.5m Series A in Dec 2017, raising over £10 million total investment raised since its inception.
Quantemplate provides a data transformation and analytics suite powered by machine learning, enabling insurers to expand their business, cut costs, and ultimately drive digital transformation.
They work with leading reinsurance, P&C and life insurance companies, with an impressive suite of clients names on their books.
If you’re a technology company interested in how we can help raise your profile, please get in touch today.