Technology

COVID-19: The Benefits of Blockchain in Fighting the Pandemic

Blockchain - cfamedia

As blockchain holds its part, as a digital ledger, it has some distinct features sufficient enough, to empower an enterprise adoption, of the technology, in the current health care system.

The impact of the COVID-19 pandemic, on blockchain, which on one hand, has been positive, has caused experts in the blockchain space, to reconsider strategies.

Where more companies, adopting the technology, can contribute their quota, to the improvement of the society at large.

An improvement, in which a sound blockchain technology, can help in the following areas:

Decentralised Systems

Blockchain technology can break away the blockades of information silos, thus, allowing the participating nodes, in adding ethical data, while barring privacy, in real-time.

For instance, by putting together a collection of big data on a digital ledger, for some selected trusted members of a global association, with an unquestionable provision for data sharing.

Analytical tools that allow communication and exchange of data, with other systems can, then, get used for information download and thus, run some visualisations, to predict outbreaks, likely, to come up in the future.

Such a system would survive the current Coronavirus timeline, thus, the world could see the blockchain technology, preventing future pandemics, on a large scale.

Authorised Supply Chain Management

Over the years, advocates of blockchain, have proposed that, the technology is a reliable antidote, in the challenge encountered with supply chain management.

Blockchain can eject, both fraudulent tendencies and groundless paperwork, tracking of shipment to their origin, secure fund transfer, in real-time, as well as, substantiate trust, between parties.

Sometimes, the rules of participation can be very rigorous, such that, vendors with recurrent complains about orders, are blacklisted.

With blockchain, however, advance disaster management guarantees that necessary resources, such as facemasks, protective coverings and medicines, are kept and sent, purposely, to the very vulnerable set of the society.

Reliable Data Management

The Coronavirus pandemic, has hit the world hard, due to out-of-date data, found in various management systems.

The medical structures, often used for keeping records, appear outdated.

They lack the ability to interact and function with others, reciprocally and also, disallow the sharing of knowledge, in real-time.

Without an effective blockchain system, misinformed campaigns and alteration, of medical records, is likely possible.

A need exists, for countries to adopt nationwide health infrastructure that operates electronically, alongside provisions, for making verification on users’ identity.

Blockchain can be employed, to manage records in their thousands, using machine enabled data verification.

The structure of blockchain can get made, such that, it can get limited to frontline workers only, private, or public.


Featured Image: CIO


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About the author

Dare Afolabi

Technology rules the world, that's why I love writing about it

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