Health Data Tokenization: A Possible Remedy for a Broken System

Now companies like the Swiss-based HIT Foundation, want to use that data to improve access to care, lower health care costs and empower patients by tokenizing health data on the NEM blockchain.

In this exchange, patients willing to digitize their health information would be compensated for allowing researchers to access their anonymized health data.

In developing countries with high levels of poverty, the tokenization of health data could act as a form of universal basic income.

Elizabeth Chee, COO of HIT Foundation, envisions a future where governments could provide "Payments" to its citizens in exchange for individual health data.

In this scenario, both parties benefit as the government and its researchers receive valuable health information on its citizens while people receive the health care they otherwise could not afford by simply sharing their health data.

Digitizing health information then making it publically available in an anonymized format can lower health care costs in several ways.

Tokenization of data encourages and enables seniors to become part of the digital health network and help them be more engaged and learn more about their health through their own data.

A second way tokenization can reduce health care costs is through an increase of health information and personalization.

The idea of tokenizing health data is an exciting idea with the potential to combat poverty, better treat diseases and lower the costs of health care.

On the one hand, HIT's tokenization model gives a patient's health data real tangible monetary value.