Blockchain-powered platforms are helping the Chinese government tackle Coronavirus outbreak by managing global donations and providing real-time data through air quality monitoring systems for tracking Coronavirus.
With the deadly coronavirus spreading globally, every attempt is being made to ensure help for victims as well as to stop the spread. Maybe the tech industry should offer the leverage to combat coronavirus threat. Innovative applications of new technologies like AI and Blockchain could have the answer.
Over the years, Blockchain has catalyzed real use-cases and applications, through smart contracts, distributed databases, or other solutions. Blockchain has become mainstream with its penetration into the Fintech and healthcare. The latest example is the way blockchain is being leveraged globally to track the spread of the coronavirus infections and for other impactful fund managing uses. Now, Blockchain is supporting in the attempt to tackle coronavirus, confirmed an academic from the University of Hong Kong. The coronavirus crisis should serve as a “call to arms for the Chinese tech industry” to find an effective solution to help this critical situation. Blockchain is actively simplifying the process of recording and tracking all fundraising activities and donations, transparently.
Due to Beijing’s institutional and political situations, channelizing the donations effectively for crisis response is becoming extremely challenging. The Chinese government is funding all public donations through five government charitable organizations. This is where Blockchain and AI are helping to manage this crisis situation effectively. A private blockchain network records and tracks every donation that is coming in for the victims of the deadly virus.
The blockchain platform will also give visibility of funds to the public, providing transparency to all donors and public control bodies. Anyone can follow the use and progress of their donation. Technologies like blockchain and AI in the coronavirus situation is helping humans to determine optimal results by more organized crisis handling. Blockchain models developed by epidemiologists are the ones that will give the best results. AI provides visibility to better decision making guided by data. Tech solutions are critical to restoring public confidence in the system to ensure the continuous flow of much-needed donations.
In addition, it is also used to track the spread of the virus. Georgia-based health tech startup Acoer has come up with a blockchain solution called HashLog to combat and control the coronavirus from spreading. Acoer offers blockchain-enabled technology to healthcare and life sciences institutes has through the HashLog platform. This platform easily tracks and visualizes the coronavirus outbreak. It is developed using Hedera Hashgraph, an enterprise-grade distributed public ledger providing healthcare professionals and users real-time data of the outbreak. The HashLog dashboard allows scientists, researchers, and journalists to track the spread of the virus. The platform also assists in discovering the trends over time based on the comprehensive set of public data available from the World Health Organization (WHO) and the Centers for Disease Control (CDC).
Chinese President Xi Jinping says, “We must seize the opportunities offered by Blockchain technology. It also referred to Blockchain + solutions that support basic needs such as, among other things, the safety of medicines.” He confirmed that the coronavirus solution should be based on the 2013 principle of the Chinese government. He continues saying that “The market should perform a decisive role in the allocation of resources.” Public-private and mixed-ownership in China have not developed innovative management systems or solutions to problems at anything as compared to the pace at which the private enterprise has. Hence, the entire tech world needs to stand together to help the Chinese government fight the coronavirus.