HashCash Consultants, a blockchain growth firm, can be participating in a brand new non-fungible token (NFT) creation mission involving the healthcare business and peoples’ well being information, in accordance with a Saturday (April 16) press release.
HashCash stated it’s partnering with a U.Okay.-based firm to discover the thought, though that firm isn’t named within the launch. The idea includes people volunteering to have their well being knowledge made into NFTs, permitting them to share these NFTs with healthcare providers to take part in research or analysis.
Per the discharge, when a person does issues like order a DNA testing package or get a vitamin plan based mostly on their genetics, they’re sharing knowledge and historical past with these corporations — who can promote the information for analysis functions whereas the unique proprietor doesn’t get something.
HashCash CEO Raj Chowdbury stated that by turning the information into NFTs, the knowledge is connected to a characteristic that may be tracked.
“This is able to allow you to observe the place your knowledge finally ends up and observe the individuals who maintain the NFT and in addition work out whether it is getting used with out permission,” he stated within the launch.
As well as, the only real proprietor of the knowledge might doubtlessly allow a characteristic that pays them each time a transaction is finished by way of the NFT.
PYMNTS wrote that HashCash introduced final yr that it was working alongside a Spanish provide chain firm as a way to change its infrastructure with IoT-on-Blockchain structure. In response to the report, the impetus for this was due to the difficulties confronted by provide chains.
Learn extra: HashCash Launches Spanish Supply Chain Project
“It’s turning more and more tough to confirm the supply of uncooked supplies and preserve visibility of merchandise and merchandise whereas they’re touring by the worth chain community,” the agency stated on the time. “The combination of the Web of Issues (IoT) allows corporations to look at, observe and monitor merchandise, actions and processes inside their respective worth chain networks.”
The IoT functionalities additionally come together with issues like handy product monitoring and optimizing operations for manufacturing, warehousing and different issues. Chowdbury stated blockchain tech, when built-in with IoT, will help increase the effectiveness of provide chains.
