Reshaping the healthcare industry with the power of NFT’s NFT Plazas

As the NFT industry continues to evolve, developers are discovering more and more revolutionary applications for the highly versatile technology. As such, NFTs have use cases in electoral processes (voting), real estate, entertainment, supply chain management, and the healthcare industry, to name a few.

The health industry is an important industry that manages, promotes and ensures a healthy and wholesome lifestyle for everyone. The sector is tired of delivering fast healthcare services, everything from diagnosis, medical research, surgery, therapy, treatment and prevention of disease or diseases, among others. Incorporating NFTs into medical care can enhance healthcare delivery to patients and redefine the global healthcare sector.

How NFTs can reshape the healthcare industry

1. Increase the supply chain for blood banks

Blood banks were established to store and preserve blood samples to be used in blood transfusions for needy patients, especially in emergency situations. Blood donation has been essential for blood transfusion and other biopharmaceutical medicines. So how can NFTs help improve the situation?

Promoters/stakeholders of blood donation services can establish a digital blood bank on the blockchain network. With it, NFTs will be issued to donors and linked to their donated blood, allowing them to publicly track them from the blood banks to hospitals or wherever they may need them. This initiative can also monitor available blood types and their proximity to where they are needed.

For example, since there may be multiple volumes of different blood types across blood banks, the location of each blood type and other useful information can be used to highlight their rarity. So blood in Arizona will not be ordered for a patient in New Jersey to avoid delays, which can be devastating. Furthermore, types of donations should also be part of the attributes attributed to each NFT, e.g. whole blood, plasma, platelets or a power red donation, so medical staff can decide what is best for patients.

2. Authentication of pharmaceutical products

Much of the treatment given in the healthcare system depends to a large extent on pharmaceutical products such as drugs, injections, inhalers, drops and so on. But unscrupulous elements produce fake products to imitate original at lower prices, which is harmful to human health. To solve these problems, pharmaceutical companies can adopt the concept of Phygital’s NFTs for their products to confirm and verify their authenticity. This will also provide information on each medical product’s production size.

With Phygital NFTs for medical products, each NFT will represent a physical product; when the product is sold, the NFT will automatically burn to indicate that it is no longer circulating. This will also help to limit the circulation of discontinued products; the expiry date of the products can be synchronized with the burn date of their NFTs. So, unsold products will get the NFTs burned when the expiry date is clocked.

3. Tokenization of medical records

Assuming a patient received plastic surgery and needed a modified cream to recover, as recommended by the beautician. Currently, the records will be sent to a pharmaceutical company, and the patient cannot be sure that the data will not be used for other purposes. Here, the patient can mark their medical data as an NFT and be able to monitor who holds it and how it is used.

Medical data tokenization can also boost clinical research and studies where patients can list their medical NFTs on marketplaces. Interested companies or companies can reach out to patients to obtain medical data for research or to use it to develop new products.

4. As a charity for global medical aids

NFT projects can be created to crowdfund medical outreach in poor countries, war zones and zones exposed to natural disasters such as earthquakes, landslides and floods. For example, a collection of NFTs could be minted and listed on marketplaces, using their proceeds for medical aids. This can be effective in places of war thorn, or at the site of a recent natural disaster.

5. As medical campaign and awareness

Knowledge is essential to the delivery of health services, as it prevents people from avoidable diseases and endemic viruses. NFTs can be used for campaigns and awareness against exposure to viruses such as HIV/AID, COVID-19, Ebola virus, HPV (Human Papillomavirus), Monkey Pox, Chicken Pox, Flu, Herpes, and so on. This can be achieved by making concise animations on these viruses and making them as free NFTs.

6. Incentives for taking vaccines

As the scope of NFT enthusiasts continues to grow, it could be a valuable tool to motivate the public to take vaccines. This can be useful, especially after the Covid-19 virus and its vaccines. These NFTs can be issued to people based on the type of vaccine they received, their current dosage, booster status, etc. For example, anyone who took AstraZeneca will be issued a corresponding NFT; if they took their second dose, they would receive another NFT. If they take a booster, they can also receive a serum to increase collected NFTs. These NFTs can be a backup proof of being vaccinated, which is required for international travel.

Conclusion

NFTs continue to explore perpetual use cases in various sectors, including healthcare delivery. Incorporating NFTs into medical care will revitalize and redefine global healthcare through the digital space, a haven for tech-savvy youth.

Recognized brands that showcase the functionality of NFTs in medical care include:

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*All investment/financial opinions expressed by NFT Plazas are from personal research and experience of our site moderators and are intended as educational material only. Individuals are required to research all products before making any type of investment.