Finland-based communications and information technology giant Nokia is partnering with OP Financial Group to roll out an innovative new health data storage project that makes use of blockchain technology.
For the project, Nokia is set to take medical records and data of participants and store them on vaults situated on the blockchain, which is prized for its private and impenetrable features. By using the blockchain for health data storage, Nokia and OP Financial Group are betting on enjoying complete access and control over the data, keeping it away from hackers and unverified actors.
While consumers have been embracing connected technologies en masse, healthcare data has an extra degree of sensitivity to it, which has been known to hamper adoption. By using increasingly credible blockchain technology, Nokia and OP Financial Group are looking to establish themselves as pioneers of blockchain medical data storage.