- Blockchain gives full control of the data to its users, making it transparent and decentralized and increasing the network’s capacity.
- ShelterZoom was inspired to develop a solution to protect medical data from cyber breaches.
- More than 300,000 patients currently have access to the Web3 application.
In recent years, use cases of Blockchain have spread far beyond cryptocurrency, with various industries spanning the technology in various fields, along with logistics, health care, and financial services.
Behind the hype, there are multiple factors. Blockchains are transparent and decentralized, increasing the network’s capacity and opening a solution window requiring serious computational power. They give full control to their users without relying on third parties over their assets, along with their data. As Blockchain expands, companies worldwide are working to find the best ways for technology implementation for various applications.
Healthcare on Blockchain
The domain of clinicians or healthcare institutions has long been maintained by medical records worldwide. A database with sensitive information about tax ID numbers and Government IDs of about 115,000 people who applied for circulation permits for Covid-19 in 2020, was exposed in Argentina.
ShelterZoom, inspired by this incident, developed a solution to protect patients’ medical data from similar cyber breaches in the future. Smart document software was created by the company as a service provider and partnered with a private hospital to give patients complete control and ownership over medical records.
Chao Cheng Shorland, CEO of ShelterZoom, said, “Each patient record is tokenized, meaning a private key is attached to each online record.”
Through a mobile app and Blockchain-based extension, patients can access a dashboard of medical records and perform all required operations at any time. It allows patients to revoke access and track email attachments, regardless of whether the patient has opened the mail.
As explained by the executive, “By moving record-keeping to a blockchain ecosystem, providers and patients can have access to medical records instantly, rather than waiting for paper records to be delivered or faxed.”
Above 300,000 patients currently have access due to the partnership with the Web3 application, and there are plans to increase the service to more healthcare providers in Argentina.
Ownership of Data
Data has become a valuable resource since the internet debuted. Historically, many users have given up their personal information for free to websites and do not have any financial benefit when those companies sell their personal information to third parties. However, users can take control of their data once again with Web3 and monetize for their benefit.
Chief Investment Officer of CoinFund, Alex Felix said:
“Whether it is NFTs or gaming, the more blockchain technology is used outside of trading and speculating, the more we expect consumers to understand the value of this technology more broadly. We want to get to a place where consumers choose crypto technology without thinking about it, which comes from focusing on the best use cases.”
Alex believes the project focuses on first-party data that will replace cookies in underpinning personalization and advertising. He noted, “Web3 allows users to monetize their own data, and consumers stand to benefit materially from this fundamental innovation made possible through blockchain technology.”