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 datasets – particularly 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.