The Coronavirus has become the major global fatal catastrophe. Although Wuhan still remains the most affected region, entire world is suffering from its effects with WHO declaring global health emergency after the number of cases confirmed to more than 30,000. Furthermore, its impact were even felt hugely at global economy where automotive and manufacturing industries were main sufferers, also a wave of it was felt by world of crypto as well.
China is not only the hub of manufacturing but also to cryptocurrency mining, as it is the home to some of the biggest manufacturers of mining equipment such as Bitmain and Canaan Creative. And with the travel ban in China these companies weren’t able to ship their products, which resulted in miners paying more for mining gear.
On the other hand, the blockchain can actually offer major response efforts to the existing epidemic Coronavirus. As per an expert in Hong Kong, blockchain may perhaps enable in introducing transparency within funds distribution, mainly now as the government has integrated the charity efforts. Together with AI, blockchain technology can even help in increasing data authenticity as well as enable in better decision-making process.
Presently, there are already a few blockchain solutions developments that mainly aims at fighting against Coronavirus. One of such type is Hyperchain’s blockchain-powered charity platform that aids raising funds for the cause. A company based in Hangzhou has publicized that this platform will assist as a supply portal for medical donations by transferring the raised fund to the hospitals in China.
In yet another case where blockchain has offered response to the epidemic is Acoer’s HashLog dashboard. This is a data visualization tool built for tracking the spread of the virus and its trends. The solution utilizes data from the Word Health Organization (WHO) & the Center for Disease Control (CDC) for proving an easier as well as more transparent ways of viewing the virus related data.
Furthermore, in South Korea, blockchain has given one of its university a great alternate as it sought towards keepping its students safe from the fatal coronavirus.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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