Table 2.
Blockchain and non-fungible tokens (NFTs) — a sequential overview. This table provides a concise step-by-step breakdown of how blockchain and NFT function, especially in the context of medical data
| Step | Description |
|---|---|
| 1. Data creation | Medical data, be it imaging, genomic information, or patient records, is generated |
| 2. Digital tokenization | This data is represented digitally, ready to be linked to a unique token |
| 3. Blockchain initialization | A digital ledger, known as a blockchain, is set up to record transactions. This can be on existing platforms like Ethereum or newer healthcare-specific chains |
| 4. NFT minting | A unique non-fungible token (NFT) is created (“minted”) to represent the specific piece of data. This process gives the data a unique identifier on the blockchain |
| 5. NFT ownership | Once minted, the NFT is assigned to an owner, usually the patient or the institution that created the data |
| 6. Data verification | Anytime the data is accessed or transferred, the blockchain verifies the authenticity and ownership using the NFT |
| 7. Data sharing/selling | The owner can choose to share or sell the data. If sold, the NFT’s ownership can be transferred to the new owner |
| 8. Royalties and resale | If the NFT is set up with royalties, any future sales or transfers ensure the original owner receives a percentage of the transaction |
| 9. Data access control | The owner can grant or revoke access permissions to the data linked to the NFT |
| 10. NFT destruction | If needed, NFTs can be “burned” or destroyed, removing their representation from the blockchain |