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Many units in the economy has proven over the months that they are indeed well structured due to their fight or should I say, contributions during this corona virus period. Technology arised both the 5g and AI(artificial intelligence) and contributes in speedy data collection and many other efficient uses, I had to then think of what can be the possible effect of the blockchain technology on this outbreak? And surprisingly it was massive.
How BlockChain Technology can be Utilized During this Period
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1) Transparency:
The importance of the blockchain technology based on transparency cannot be over emphasized. The attributes of it being a distributed ledger and can't be tampered with will give clear and transparent figures of the materials allocated in several states for the fight of this virus. This records can never be erased or manipulated which at the end, proper account checking can be made without any third party giving records in documented form that is vulnerable to manipulations. The records of all the donations made, the allocation of funds to several states and it's level of spending can actually be stored in a blockchain.
2)Security in Medical Services:
In Nigeria here, many centers have been accused of inflating numbers of affected people, the death rate and the so called government are said to be part of the inflators. We all know that the blockchain technology is no respecter of the government or any centralized authority. With the help of blockchain technology, we can trace the actual figures of patients affected without hypes in numbers. It can also serve as a follow up in the spread of the virus.
3) Fast-track transfer services:
We all know how fast the blockchain technology is in transferring cryptocurrencies where donations and allocations can be carried out in seconds without any form of friction. This can help government or prominent people make large deposits at the comfort of their homes using cryptocurrencies which is faster and have lesser to zero charges.
4) Medical records accessibility:
Here in my country, people with underlined ailment had to go to their several private hospitals to access their medical records for the covid 19 specialist to access. This is way stressful especially if it is in different locations. Many are not comfortable in exposing their medical records to people who can send via electronic media. With the help of blockchain, the hospitals can revolutionized by evolving with technology and taking advantage of this blockchain in storing data. This can be accessible any where in the world and save people the stress of calling and traveling just for privacy sake.
There are other great effect of the blockchain technology on this pandemic which will be posted on my blog afterwards.
It's magatha blog, be safe !
Great post but there’s one thing that ties some of those elements together: greed. If we use blockchain technology to do the donations and money transfers then these companies like the Red Cross won’t be able to hide money and siphon it out for administrative expenses. Currently their accounting is probably manipulated to spend the least amount of money.
I think we can do a lot with the technology but we also need to employ encrypted things like memos where only the two users on either end can see the contents. This is the real way the currency can evolve, in my opinion.
Keep the ideas going though! These are just my thoughts.
Thank you for this very idea