- Non-fungible tokens give patients full authority on personal health data.
- Use of NFT is a data management solution at personal and organization level for governance.
- Data tokenization provides top level security and gives control to patients on personal health data.
- NFT is digitally unique and supported on the blockchain platform such as Ethereum and once it is coded with the blockchain tech it can’t be modified.
- NFT prevents institutions from selling sensitive health data to third parties.
The Covid-19 pandemic is an extraordinary push towards the digital transformation in healthcare.Currently, the flow of digital data is increasing. So, it requires technology that can secure privacy of patient personal data. Non-fungible tokens supported by blockchain technology can provide top level security and privacy to patient personal health data.The use of NFTs is a solution to data management at both personal and organizational level.
Method of data security:Tokenization
Tokenization is a method of data security.Non-fungible token is unique and supported by blockchain platforms like Ethereum and Hyperledger fabric.NFTs can be created through existing data and once it is coded through blockchain tech it can’t be modified.It give full control to person to own and deal digital assets between the companies.
Benefits of tokenization in health sector
There are several advantages of tokenization in health sector such as:
- Currently, there are rules for the protection of data privacy which restrict sharing the information with other parties.Through this system patients authorize their personal health data.
- Patients own their data and can share information with other healthcare centres for better treatment.
- It inspires patients to get engaged in the care or treatment.
- It prevents unethical activities of institutions such as selling information to third parties.
- It ensures data originality.
To modify health data, it must be made from an existing NFT system.The ledger of blockchain to healthcare data is created with the data stored in NFT and data is not publicly watched.Smartphones application can be created which stored patient personal health data like cryptocurrency wallet.
Barriers in the adoption of NFT in health sector
- Threat of cyberattack .
- Tokenization of health data leads to exploitation.
- Some people have to face problems while managing data due to the complex system of NFT.
- Transaction of healthcare data can lead to high consumption of money and power and leave a carbon footprint.
In conclusion, NFT in the sector of health could bring reform in data management. NFT in healthcare is based on the concept of transparency, autonomy of patients and privacy which are all important principles of healthcare.