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Blockchain technology proves to be a useful tool in combating coronavirus

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Thu, 05 Mar 2020, 11:21 am UTC

Blockchain technology is a useful tool in combating coronavirus.

COVID-19 more commonly known as coronavirus has become a global epidemic and claimed thousands of lives. Based on the data from the Centers for Disease Control and Prevention, the virus has infected 93,021 individuals and 3,249 death tolls.

According to Cointelegraph, blockchain has been a helpful tool in battling the disease. The technology has been used in tracking drug supply chains and medical supplies. It also proves helpful in managing medical data, advising the citizens and identifying symptoms of infection.

Mobile and online payment platform Alipay work with Zhejiang Provincial Health Commission and the Economy and Information Technology Department to launch a blockchain-based platform that traces the demand and the supply chains of medical supplies following the shortage of facial masks which became one of the biggest challenges in China when the disease broke out.

The National Development and Reform Commission (NDRC) reported that daily mask production is only around 15.2 million each day, but the demand is between 50 to 60 million.

“While it is probably too late to implement major changes, the coronavirus has proven that the medical supply chain remains an area with a legitimate need for blockchain provenance solutions,” the report read.

Blockchain also helps address the trust issue when it comes to making donations. China’s Red Cross has reportedly had a questionable reputation prompting some citizens to have doubts in supporting it by making donations. In response to this, Hangzhou-based blockchain startup Hyperchain developed a donation-tracking platform and it attracted $2 million donations.

Through the platform, donors can see where their funds are urgently needed. Also, they can track their donations and receive verification when the donations have been received.

The existing donors include New Sunshine Charity Foundation and Yuegou Living Supermarket while Tangshan People's Hospital, Jiayu People’s Hospital and Xiantao No. 1 People’s Hospital are among the recipients. All of the said facilities are attending patients infected with the coronavirus.

Although blockchain is a very helpful tool, there are still concerns about it. According to experts, blockchain is the ideal solution for traditional storage systems because it offers great security. However, it also conflicts with privacy.

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