HashCash collaborates with NFT creation project based on healthcare

HashCash collaborates with NFT creation project based on healthcare

HashCash Consultants, a software company specializing in blockchain and IoT products, is reportedly taking part in a new NFT (non-fungible token) creation project involving the healthcare industry and people’s health records.

As per the firm. it is collaborating with a U.K based firm for discovering the idea, although that company was not named in the release.

Under this approach, individuals will be having their health data recorded in the NFTs, empowering them to share the NFTs with healthcare services to participate in research or studies.

Normally, when an individual orders a DNA testing kit or gets a nutrition plan as per their genetics, they share the history and data with those companies who can sell these records for research; however, the original owner does not get anything from it.

Raj Chowdbury, HashCash CEO, said that by turning this data into NFTs, the information is linked to a feature that can be easily tracked. This will empower to monitor where the data ends up, track the people who hold the NFT, and figure out if it is used with permission.

Additionally, the owner of the information could enable a feature which will pay them whenever a transaction is done using NFT.

According to credible sources, HashCash announced that it was working with a Spanish supply chain fire to adopt IoT-on-Blockchain architecture motioned by the difficulties faced by supply chains.

HashCash believes that it is becoming increasingly difficult to authenticate the raw material source and maintain visibility of products and merchandise as they are traveling via the value chain network.

Integrating IoT (Internet of Things) allows firms to track, observe, and monitor activities, products, and procedures within their respective value chain networks.

Moreover, the IoT functionalities include optimizing operations for manufacturing, product monitoring, and warehousing, among others.

As per Mr. Chowdbury, when blockchain integrates with IoT, it can help enhance the effectiveness of supply chains.

Source Credits - https://www.pymnts.com/nfts/2022/blockchain-firm-hashcash-joins-healthcare-focused-nft-project/