#NFTs can be used to represent ownership of #health data, which allows individuals to monetize their health info by selling it to third parties such as pharmaceutical companies, researchers and insurance providers, all while maintaining #privacy.
❇️ Using smart contracts: self-executing contracts that are stored on the blockchain, which can be used to control the access to and use of health data. For example, an individual can create a smart contract that allows a pharmaceutical company to access their genetic information for research purposes, and in turn, the company pays a certain amount of money;
❇️ De-identifying their data: removing any personally identifiable information (names, addresses and others). Once it is de-identified, it can be sold to third parties without compromising the individual’s privacy;
❇️ A trusted intermediary: a third party that can help individuals manage and monetize their data, which would be responsible for de-identifying the data, creating smart contracts, and negotiating deals with third parties, helping to protect the individual’s privacy and make it easier to monetize their data;
By giving individuals control over their own data, NFTs could help to improve the quality of healthcare and make it more affordable for everyone. In the future, one can only imagine the possibilities that can be made available.
