How the technology that powers crypto is being used for more than money

From powering cryptocurrencieslikebitcoin todigital assets like non-fungible tokens (NFTs), it seems as though the blockchaintechnology is everywhere.

Blockchain is adecentralized digital ledger that stores and records data,andis best known for facilitating transactions for digital currencies such asbitcoin.

It also has many peoplehoping to get rich,by investing in digitalassetslike GIFsand artworks some of which sell for millions, like the digital artEverydays: the First 5,000 Daysby American artist Beeple, whichsold for $69.3 million U.S.in 2021. The technology has also beencriticized for itsharmful environmental impact.

But investors and celebrities are not the only ones investing in the technologyor the cryptocurrencies that blockchainenables.

In B.C., Indigenous artists are leveraging blockchain to secure their art, while researchers are studying how the technology can better protect personal health information.

Indigenous NFT art

In an airy studio in Burnaby, B.C.,artist David Fierroof the Okanagan Nation creates drums usingtraditional hides, like those of elk, andacrylic paint that seems to come alive under black light.

But the drums, part ofthe 400 Drums project,aren'tmade to be sold as they are. Once done, the instrument isphotographedand sold as anon-fungible tokenorNFT.

An NFT is a digital asset that typically exists on the Ethereum blockchain, and storesunique data that includesa record ofownership and transactions. NFTs cannot be replicated, and unlike cryptocurrencies like bitcoin, each NFT has aunique value.

That uniquenature isone of the reasons NFTsappeal to Indigenous artists like Fierro, as thetheft, replication and sales of inauthentic Indigenous art remains a major problem,even at major galleries.

The ability to record and verify theauthenticity of an artwork throughblockchainis also appealing to Tamara Goddard, Fierro's business partner. Goddard is the head of 400 Drums,a campaign supportingIndigenous creators harnessing online platforms to shareteachings and stories.

Fierro and Goddard plan to sell the NFTs on theOpenSea platformfor 1 ether the cryptocurrency ofthe Ethereum blockchain which is roughly equivalent to$4,200.

The funds will supportinitiatives for Indigenous youth and artists, including media training and workshops for starting their own NFT projects.

"Our art is our value, our art is our legal culture. We feel that as Indigenous peoples, we need to enter this space to preserve the authentic nature of art as a value, art as money," said Goddard, who is of theSaulteau First Nation.

"It's a very good fit for us because we believe that the NFT, even though it's a digital asset that you're holding, will take on a monetary value and grow in value as does all of our Indigenous art."

Securing health data

At the University of British Columbia's school of information, research is also being conducted on how the technology can help protect health information.

Victoria Lemieux,associate professor of archival science and one of the few women in the world leadinga research lab focused on blockchain, is working on a "personal health wallet,"where health information is securely stored on a person's smartphone using blockchain.

The technology, she says, is more secure than current information systemsbecause it does not rely on typical security measureslike passwords, and it decentralizes informationunlike sharedthird-party serviceslike the cloud.

This means information on the blockchain is less vulnerable to hackers that may want to view or change any of that data, she says.

"They are not gaining access to this large pool of data that they can hold for ransom," she said. "They have to work harder to get smaller bits of information."

The health wallet she's working on will allow people to share health information with a doctor securely and efficiently, she says, and allow people to keep their data from being used for research purposes.

"If you've had, for example, some kind of a transplant, you'll have several different doctors, you'll have pharmacists and so on. All of that information needs to be brought together to help the care team look after you effectively, but it's very siloed right now," she said.

"It's all part of this trend to empower people to control their data, take power away from platforms that have tended to hoover up our data without asking."