Giant Health CVS Files for NFT and Metaverse Related Marks

Virtual pharmacies and decentralization of health care, the health care of the future

As the United States seeks to return to some semblance of normalcy in the wake of the COVID-19 pandemic, the healthcare industry will likely need to take a hard look at the benefits of blockchain, cryptos, NFTs, and the metaverse.

In 2020, we explored how blockchain will change lives, the global economy, and the world. At the time, immediate benefits for the healthcare industry included the elimination of the paper trail, making patient medical records available on a decentralized registry, which would provide data points to support the fight against viruses and diseases.

As the healthcare sector examines lessons learned from the COVID-19 pandemic, information dissemination and access to critical data points may have given healthcare workers the information needed to fight viruses .

In October 2021, Forbes published an article exploring how blockchain could revolutionize healthcare. The report looks at cost reduction and new ways for patients to access healthcare. Forbes talks about a healthcare company called “patient room.” Patientory sees blockchain networks capable of offering a combination of transparency and privacy. Blockchain technology could allow the healthcare industry to access medical data while withholding sensitive patient information. “Up-to-date patient histories and data, pandemic tracking and reporting, secure communication with verified healthcare personnelare part of Patientory’s solutions.

For the healthcare industry, GPs and medical specialists could ease the pressure by moving to the Metaverse. While physical exams must be in person, some elements of the job could go virtual, reducing hospital traffic.

CVS follows in the footsteps of other traditional American companies

In recent months, other major US companies submitting trademark applications related to NFT and Metaverse include:

With department stores disappearing and online retail surging, the Metaverse might be the next best thing for online shoppers. Virtual stores could use NFTs to authenticate online sales.

A risk for the health sector is the marked increase in illicit activity. Appropriate controls should be in place to protect personal data and privacy.

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