28 Dec 2022

NFT technology will help store personal health data

Healthcare technology firm MAPay announced it will create the first 100 million NFTs (non-fungible token) for digital health data on the blockchain.

MAPay has partnered with the Ministry of Public Health and Family Welfare in the Government of Maharashtra, India, with the intention of providing its NFT technology to store personal health data on the blockchain. It has been reported that over 100 million NFTs will be introduced for the purpose of securing personal health data.

“Our vision and passion is aligned with our global partners: to democratise healthcare. We want to truly transform Healthcare to Humancare,” said MAPay CEO Michael Dershem.

“This use case is a perfect real-world application of blockchain technology. The impact on individuals and society as a whole is what we wake up to accomplish every day.”

The healthcare technology firm has said it will offer a secure and decentralised solution to storing said data, using its NFT technology. This will apparently reduce the need for “intermediaries” in the healthcare system, and could save money for parties including patients, as well as private and public health providers. 

MAPay has already secured healthcare partnerships in the United States, and will continue to collaborate with leading healthcare payment organisations around the world. The firm has said it collaborates with governments, as well as pharmaceutical players and health systems too. 

The NFTs will feature on the Algorand blockchain, which has never experienced downtime since its main network was launched in June 2019. 

“This technology is transformational. Its transference and acceptance globally once seemed unimaginable; but now it is within reach,” said Dr. Sabine Kapasi, UN Health Policy and Governance Strategy lead about the health data innovation.

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