Control your identity and data. Envision the future which is in your grasp via healthcare NFTs.
Nowadays, medical records are owned by hospitals or healthcare corporations who can sell them for research anytime, and patients have to ask permission to access their own records. However, the medical world is on the cusp of revolution through blockchain technology.
It can replace the traditional web and give an online platform to doctors and patients where they can control and own their data or an underlying asset through NFT, mint it on a digital marketplace, and profit through it. Blockchain technology is designed thus to give ownership rather than just store information.
NFTs don’t have just one functionality. They can be created, owned, purchased, and sold to gain profit, raise donations for a health crisis, or to help victims of natural disasters. With the covid pandemic looming over, people felt the need to raise donations, especially healthcare workers who created healthcare NFTs heroes to look after patients suffering from covid.
The project is an initiative by the healthcare workers in the web3 world, holding 10k NFT collectibles which can be owned and minted by other healthcare workers and their supporters. Further benefits such as medical scholarships for four lucky winners of NFT holders are also offered.
In addition, the project chooses to offer discounts and rewards such as calm app membership for one year, a pair of scrubs or fleece for every NFT holder, and Thera Gun Mini each for 100 NFT holders. The platform will also give away 20% of the proceeds from NFT sales to different charities.
Other than this project, the question arises how much more potential do NFTs hold to help the healthcare industry further?
How can NFTs help the healthcare industry?
NFTs represent digital assets ranging from art pieces to videos and audio owned by creators. People can buy them from a digital marketplace and sell them further to others.
If adopted by the healthcare industry, NFTs can give freedom to the patients and healthcare workers to own their digital assets without fearing the security risk. Other than offering the sole ownership of information, NFTs have more to offer. We have shared some of the benefits that they can provide to patients and medical officers alike:
Security of data
Unlike with traditional web, where you have no idea if your data is being duplicated, sold, or shared with the wrong people, NFTs are minted through smart contracts. These contracts state that there can be only one official owner at a time. Furthermore, your data stored on the blockchain can never be modified, duplicated, or replaced, so it is entirely secure.
By owning NFTs and their underlying assets, NFT owners can choose to sell them and gain profit from the trade. Ownership of NFTs cannot be modified, seized, or frozen at any given time. Payment could be made in cryptocurrency or in other tokens, which could then be used to purchase other healthcare services or donated to charities for the betterment of the health industry.
Transparent drug trials
NFTs can also improve the trust of the drug industry in the eyes of people. They are also traceable, so people participating in the clinical trials will know how the drug company implements their data. This increases transparency as peoples’ consent to participate in the trial can be tracked and managed as NFTs.