COVID-19 and Blockchain
Jun 30, 2020
Introduction
In the era of COVID-19, there are many areas to consider where Blockchain technologies can help slow the spread of the disease while helping regrow economies at the same time. Blockchain’s security, accuracy, and efficiency makes it an integral tool to reopening society safely, quickly, and restoratively. Blockchain’s new advancements support accurate healthcare data that are vital to researchers and epidemiologists for curing and tracking COVID-19. Additionally, disruptions on the supply chain that have plagued those in need during the panic caused by the global pandemic can be solved and restructured through the tools offered with Blockchain. Reopening society can be safer through touchless crypto-currencies, secure voting without needing to go fill out a ballot in person, and helping businesses get out of debt. Finally, donating to those in need becomes easier and more feasible using crypto-currencies.
Healthcare Aspects
Epidemiologists and researchers rely on accuracy and real-time data to make breakthroughs with the COVID-19 pandemic. Blockchain provides services that allow for untampered data so medical professionals can safely utilize it; accurate data is the means to fight this global pandemic. Patient information remains private, so research can continue while providing security. Due to the impossibility of tampering with data transmitted using Blockchain technology, the accuracy of data and source can be entirely trusted, which helps speed up medical discovery progress because one does not need to double-check the information received. Additionally, contact tracking can be streamlined and broadcasted to professionals who can provide preventative and reactive measures from a COVID-19 outbreak. This keeps patient information private while giving life-saving and vital information.
Steadying the Supply Chain
Supply chain disruptions are ever-present issues that are being ameliorated through the near real-time communication that Blockchain allows for. Through these tools, issues along the supply chain will be shared to buyers and suppliers to provide accurate service. Medical and food shortages will be significantly lessened to help the COVID-19 medical supply issues and continue progress with COVID-19 patients. This is because supply chain management can implement blockchain technology to connect medical suppliers and healthcare organizations to trusted sources for necessary medical supplies. Therefore, both the buyers and suppliers have a holistic view of the inventory (HISMM). Previously, high demand during the pandemic caused users to put themselves in compromising positions—either to use an untrustworthy supplier or forgo a necessity. Using Blockchain technology will help bring foresight to supply chain disruptions through the speed of the data transmission as well as help ease user choices through established trust of suppliers.
The Future of Public Health Safety and Economic Rebuilding
As businesses reopen and economies recover, Blockchain becomes an essential part of this rebuilding process. Feeling secure in public areas is difficult, but with the ability to use crypto-currencies as a touchless form of payment helps keep customers and workers safe. Businesses that struggled through the crisis can benefit from the quick, cheaper, and accountable assets that Blockchain payments provide. Given the security of opening through Blockchain medical data, touchless payments, and easy loans, businesses that implement Blockchain technologies will have a much easier time staying safe and profitable as they reopen.
Donating to those in Need to Rebuild
The world was hit hard during this global pandemic, and many people need our help to rebuild their lives. Campaigns to provide disaster relief can utilize Blockchain to promote transparency and keep accountability. Those who donate to campaigns can keep track of their payments to know that their charity is being used for the right purposes.
Conclusion
The COVID-19 crisis has made Blockchain more relevant and necessary than ever. The US Department of Homeland Security supports the movement towards Blockchain usage and sees this technology as integral to help the health and economic crises. In the era of COVID-19, Blockchain technology is what is going to make life safer and easier.
Sources:
https://www.pymnts.com/blockchain/2020/how-digital-test-results-blockchain-can-reopen-workplace
https://news.bitcoin.com/unicef-funding-cryptocurrency/
https://www.himss.org/news/blockchain-coronavirus-emerging-technologies
https://blog-idcuk.com/blockchain-help-in-the-covid-19-and-recovery/
https://www.ledgerinsights.com/us-homeland-security-lists-blockchain-as-covid-19-critical-service/
https://cointelegraph.com/news/how-blockchain-technology-can-help-fighting-against-covid-19
https://blogs.wsj.com/cio/2020/05/01/blockchain-may-offer-solutions-to-fighting-covid-19/
https://www.ibm.com/blogs/blockchain/2020/04/blockchains-role-in-covid-19-response-and-recovery/
https://www.bio-itworld.com/2020/05/04/blockchain-and-its-impact-on-epidemiology-for-covid-19.aspx
