Acoer’s RightsHash Uses NFTs on Hedera to Manage and Protect User’s Rights

The Tokenizer July 26, 2021

Acoer, has launched RightsHash, a decentralized software engine implemented using serverless, open APIs that provides an easy means to represent and manage an individual’s rights and protections as discrete, globally unique digital assets. RightsHash uses the public Hedera distributed ledger platform to associate and track an individual’s digital rights—such as, consent to participate in a clinical trial—to an NFT.

By building on the Hedera network, RightsHash brings a full range of benefits to the underlying process of managing an individual’s rights. These include the ability to track and monitor discrete rights and protections in real-time, tracking transactions from different data sources and across different apps, demonstrating cryptographic proof of action and providing an automated, continuous, transparent auditing of all related compliance transactions. Additionally, RightsHash uses its own distributed architecture, decentralized processing, and storage nodes, physically located across the globe and on different cloud providers to ensure fault tolerance and high performance.

The first production deployment of RightsHash has been dedicated to the process of consent management, in particular for clinical trials with patient health or medical consent scenarios. Acoer has been working exclusively with the Consent Custody Corporation to develop a fully functional blockchain-enabled consent platform based on RightsHash called ConsentHash. Consent Custody Corporation is a custodial bank for consent agreements and personal data assets, and acts as a data fiduciary. Consent Custody Corporation protects people and organizations by safeguarding consent agreements while making consent information available, transparent, and certified anywhere data is managed.

“We are very excited to be launching RightsHash, and firmly believe that our engine will support a number of different business use cases,” said Jim Nasr, Acoer CEO. “In particular though, we are delighted that through collaboration with Consent Custody Corp., we were able to build a fully tailored platform to support next-generation, accountable consent management.”

“We see RightsHash as a big technological step forward in managing an individual’s rights and protections in the face of ever more complex regulatory and policy requirements, and the need for managing accountable and dynamic consent,” said Brendan McSheffrey, Consent Custody Corporation CEO. “We are very pleased with our partnership with Acoer and their vision and conviction in the Hedera distributed ledger platform.”

Mance Harmon, CEO and Co-founder of Hedera Hashgraph, said: “We are incredibly privileged to have Acoer as an active user of the Hedera network. From the very start of our collaboration, we have been deeply impressed by the decentralized data storage solutions Jim Nasr and the rest of the Acoer team are providing to the healthcare industry. At Hedera Hashgraph, we see the benefits that public distributed ledgers and blockchain-based solutions can provide to enable more transparency and security across the medical supply chain. RightsHash is an integral part of that strategy.”

Photo by Doğancan Özturan on Unsplash