Emerging Trends NFTs and Healthcare Data Ownership

Abstract

The non-fungible tokens (NFTs) mark an evolution in ownership of healthcare data. This chapter provides an overview of healthcare data ownership and its significance in the process of merging NFTs with the healthcare system. NFTs are digital assets built on top of a blockchain with a unique identification number and metadata that cannot be copied, making them arguably very well suited to revolutionising the generation, sharing, and control of healthcare data. The versatility of their application is highlighted by reviewing several patient records, medical images, and research data. The chapter further delves into contemporary issues regarding healthcare data ownership. NFTs can improve data provenance and security, introduce smart contracts allowing for controlled access, and enable health data to be monetised so that patients are active stakeholders in their healthcare journey. The chapter discussed the several advantages provided by NFTs and challenges such as the adoption of technical tools, legal and ethical issues, data security risks, and regulatory compliance, which must be overcome when using NFTs in healthcare. The chapter concluded with a focus on the future prospects of NFTs in healthcare to develop a system that maintains new ideas while protecting the patients.