Health Datasets as Assets: Blockchain-Based Valuation and Transaction Methods

Abstract

There is increasing recognition about health-oriented datasets that could be regarded as intangible assets: distinct assets with future economic benefits but without physical properties. While health-oriented datasetsparticularly health records -are ascribed monetary value on the black market, there are few established methods for assessing the value for legitimate research and business purposes. The emergence of blockchain has created new commercial opportunities for transferring assets without intermediaries. Therefore, blockchain is proposed as a medium by which research datasets could be transacted to provide future value. For authorized individuals to verify their transactions, blockchain methodologies offer security, auditability, and transparency. The authors share data valuation methodologies consistent with accounting principles and include discussions of black market valuation of health data. Furthermore, this article describes blockchain-based methods of managing real-time payment/micropayment strategies.

Blockchain in asset management: An extensive review of opportunities and challenges

“…The potential of blockchain technology in asset management is not limited to digital assets but also extends to physical asset management, as evidenced by the implementation of cyber-physical trust systems driven by blockchain for physical asset management (Vincent et al, 2021;Milne et al, 2020). Furthermore, the use of blockchain technology for managing health datasets as assets has been identified as a growing area of interest, indicating the expanding scope of blockchain applications in asset management (Wendy, 2022).…”

“…The adoption of blockchain technology provides high security, privacy, and traceability for data asset management (Al-Dhlan et al, 2022; Abrahams et al, 2023). Furthermore, blockchain enables the tokenization of assets, creating new commercial opportunities for transferring assets without intermediaries (Wendy, 2022).…”

“…The valuation and transaction methods for health datasets as assets are increasingly garnering interest, with blockchain technologies offering potential improvements in data valuation and asset management in the healthcare sector (Wendy, 2022). Additionally, blockchain technology has the potential to drastically change record-keeping and asset management in commercial aircraft leasing, indicating its applicability across diverse industries (Kuhle et al, 2021).…”