Application of Nonfungible Tokens to Health Care. Comment on “Blockchain Technology Projects to Provide Telemedical Services: Systematic Review”

Gambril, John Alan; Boyd, Carter J.; Egbaria, Jamal

doi:10.2196/34276

Cited by 11 publications

(6 citation statements)

References 4 publications

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“…In its early stage since inception, NFTs and NFT chain have been recently gaining explosive attention in both industry and academic sectors. Modeling and assurance of performance of NFT-based systems, ensurance of ownership in NFT systems, security and privacy in NFT systems, tracking and assurance of digital assets' copyright and reproduction right in NFT systems, NFT internet frameworks, intellectual property (IP) in NFT systems, NFT-based patent and license are some of those exigent issues being studied and to be studied, to mention a few [1][2][3][4][5][6][7][8][9][10][11][12][13]. Legal issues of the concerned digital assets and their tax issues on the sale or transfer of an NFT, and security, ethical concerns in the NFT marketplaces have been addressed in [1,4].…”

Section: Preliminaries and Reviewmentioning

confidence: 99%

“…A high-performance approach in blockchain-based NFTs to approximate pattern-matching for plagiarism detection with respect to protecting intellectual property in the academic as well as in various business areas have been proposed in [6]. A health care application of NFTs has been reported in regard of its product supply chain [7], and NFTs as a descriptive narrative about crypto art, digital art, and design have been introduced in [8] . Data concerning 6.1 million trades of 4.7 million NFTs from Jun 2017 to April 2021 on Ethereum and WAX blockchain networks have been analyzed and reported in [9], and the market properties, network clusters of interactions and associations, and the predictability using machine learning algorithms have been reported [9].…”

Section: Preliminaries and Reviewmentioning

confidence: 99%

“…Minting an NFT is conforming to the token standards ERC-721 and/or ERC-1155 interfacing through smart contracts that prove ownership transfers [13]. As the NFT market is expanding [7], NFT technology is expected to be more extensively employed to prove the scarcity of creating an NFT, the transparency of trading an NFT, and the uniqueness of the ownership of an NFT. Also, NFT can be exercised to ensure ownerships of full or some fractions of the digitized and secure documents such as Intellectual Property [2,4,6,12,13], Patent [13], and License [4].…”

Section: Introductionmentioning

confidence: 99%

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A NFT (Non-Fungible Token) Chain Model and Performance Study

Seol

Kancharla

et al. 2023

Preprint

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This paper presents a quantitative model to assess the performance of a NFT (Non-Fungible Token)-centered chain as referred to as a NFT Chain in this paper. The model was introduced in [17] and more extensive simulations are conducted and the results are presented in this work. NFT chain in general stores its data distributed across on chain (e.g., NFT registration ledger data and an address pointing at the data located off chain such as meta data table and ultimate digital asset's data) due to the high cost to store the potentially high volume of data for digital assets. Therefore, it is expected that the overall performance of NFT chain is primarily to be dominated and bound by the off-chain performance. The proposed performance model employing an embedded Markovian queueing process model, tracks a bivariate state of the NFT chain such that \(\left(\varvec{i},\varvec{j}\right)\) where \(\varvec{i}\) stochastically tracks the number of slots of the transactions executed on chain and \(\varvec{j}\) stochastically tracks the number of transactions off chain as well, and the states transition as determined by \({\varvec{\lambda }}_{\varvec{o}\varvec{n}}\), \({\varvec{\lambda }}_{\varvec{o}\varvec{f}\varvec{f}}\), \(\varvec{\mu }\), and the number of slots in the current block. Extensive numerical simulations are performed to validate the efficacy of the model. The primary set of variables used in the simulations consists of \({\varvec{\lambda }}_{\varvec{o}\varvec{n}}\), \({\varvec{\lambda }}_{\varvec{o}\varvec{f}\varvec{f}}\), \(\varvec{\mu }\) and the average number of slots of the transactions during a block posting, \(\varvec{L}\), is simulated based on both \({\varvec{L}}_{\varvec{o}\varvec{n}}\)and \({\varvec{L}}_{\varvec{o}\varvec{f}\varvec{f}}\); and the average waiting time \(\varvec{W}\) based on both \({\varvec{W}}_{\varvec{o}\varvec{n}}\)and \({\varvec{W}}_{\varvec{o}\varvec{f}\varvec{f}}\), in an intermingled manner in order to take into account of the nature of NFT transactions executed across on- and off-chain without loss of generality. The simulation results in [17] has demonstrated a good agreement with the expected and intuitive trends. The results of more extensive simulations are presented in this paper to further demonstrate the efficacy and versatility of the proposed model. Ultimately, the proposed NFT chain model will serve as a sound theoretical foundation for the design of NFT chains from the performance's perspective.

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Section: Preliminaries and Reviewmentioning

confidence: 99%

Section: Preliminaries and Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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A NFT (Non-Fungible Token) Chain Model and Performance Study

Seol

Kancharla

et al. 2023

Preprint

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“…To make it safe for usage, the problems should be addressed. The usage of non-fungible tokens (NFTs), a security measure for patient privacy, which are distinct data units registered in blockchains and adopted to track ownership of digital assets, is likely to be a feasible answer ( Bamakan et al, 2022 ; Skalidis et al, 2022b ; Gambril et al, 2022 ). Advanced science and technology are required to support the widespread use of the metaverse in medicine, comprising a stable and streamlined network, high-quality computer processors, the creation of VR equipment, etc.…”

Section: Reviewmentioning

confidence: 99%

Application and challenges of a metaverse in medicine

Wang,

Li,

et al. 2023

Front. Robot. AI

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Metaverse has been confirmed as a relatively amorphous concept of innovation, which refers to technological advancement. Metaverse, i.e., a coalition between reality world and virtual world, has created significant significance and convenience in education, communication, economy, etc. The COVID-19 outbreak has stimulated the growth of metaverse applications in medicine. The above-mentioned technology has broad applications while comprising online remote medical treatment, online conferences, medical education, preparation of surgical plans, etc. Moreover, technical, security, and financial challenges should be tackled down by the future widespread use of metaverse. Metaverse is limitlessly promising, and it will exert a certain effect on future scientific and technological advancements in the medical industry. The review article primarily aims to summarize the application of the metaverse in medicine and their challenge in the future of medicine.

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“…Another study conducted in 2022, highlighted the role and significance of NFTs in healthcare and focused on their various applications in the field. After introducing the concept of NFTs and their potential benefits, the study delved into specific use cases in healthcare such as simplifying blood and stem cell production and supply chain management (43). In a different insightful study, researchers spoke about the potential benefits that NFTs might have in terms of supply chain management, patient-centric data management, digital twins for research, clinical trial management, and genomics, among other healthcare-related fields.…”

Section: Introductionmentioning

confidence: 99%

Non-fungible tokens in healthcare: a scoping review

Abhari,

Morita,

Miranda

et al. 2023

Front. Public Health

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IntroductionNon-Fungible Tokens (NFTs) are digital assets that are verified using blockchain technology to ensure authenticity and ownership. NFTs have the potential to revolutionize healthcare by addressing various issues in the industry.MethodThe goal of this study was to identify the applications of NFTs in healthcare. Our scoping review was conducted in 2023. We searched the Scopus, IEEE, PubMed, Web of Science, Science Direct, and Cochrane scientific databases using related keywords. The article selection process was based on Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA).ResultsAfter applying inclusion and exclusion criteria, a total of 13 articles were chosen. Then extracted data was summarized and reported. The most common application of NFTs in healthcare was found to be in health data management with 46% frequency, followed by supply chain management with 31% frequency. Furthermore, Ethereum is the main blockchain platform that is applied in NFTs in healthcare with 70%.DiscussionThe findings from this review indicate that the NFTs that are currently used in healthcare could transform it. Also, it appears that researchers have not yet investigated the numerous potentials uses of NFTs in the healthcare field, which could be utilized in the future.

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Application of Nonfungible Tokens to Health Care. Comment on “Blockchain Technology Projects to Provide Telemedical Services: Systematic Review”

Cited by 11 publications

References 4 publications

A NFT (Non-Fungible Token) Chain Model and Performance Study

A NFT (Non-Fungible Token) Chain Model and Performance Study

Application and challenges of a metaverse in medicine

Non-fungible tokens in healthcare: a scoping review

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