How Blockchain Technology is Helping to Fight the Novel COVID-19 Pandemic

As the world battles with the Covid-19 pandemic, and it's consequent economic and social effects: several world governments, agencies, and institutions are joining the fight to help reduce the spread of the virus while assiduously working to create a cure and a vaccine. For each country, the coronavirus pandemic has caused a major state of emergency, the Government’s role in addressing the issue is more visible at this time when compared to private and independent institutions.

Blockchain for Tracking Covid and Identifying Hotspots

At a time when data is most crucial to control the COVID-19 pandemic, Blockchain finds its role in addressing inconsistencies and identifying errors or misreporting. Over the years we have seen many privacy advocates fighting for the rights of individual privacy and pointing out how big organizations exploit the personal data of its users for their own benefit. Today, when we deal with a virus that spreads like wildfire, maintaining privacy in case of sharing information about communicable diseases, is of utmost importance With this is mind, we need to understand that Blockchain is an enabler technology that would ensure the enhanced security, improved traceability with its chronological data, greater transparency, and increased efficiency & speed needed for sharing critical information, like that of COVID-19 patients.

Blockchain Gets Busy

Blockchain technology remains a game-changer in the use of encrypted open-source ledger in the processing of data. In its own right, it came as a disruptive technology that is now gradually being embraced by technology-dependent and futuristic firms worldwide. With the outbreak of the coronavirus disease in late 2019, many blockchain-based firms have launched innovative ways to make a difference in this global medical upset. Few of the application of blockchain technology in the fight against coronavirus is outlined below;

Insurance Claims

The coronavirus disease creates a major health concern that is enough to create an unbalanced book for medical insurance companies worldwide. With over a million cases all over the world, the impact on Health Management Organizations cannot be underestimated. In China where the outbreak began, Ant Financials online Mutual Aid blockchain-based platform Xiang Hu Bao has introduced a new function to process several coronavirus claims. This function undoubtedly has helped the firm reduce in-person contact as these claims are made online.

Education

With the coronavirus pandemic, there's been a major disruption in education across all levels as the stay at home order looms. Higher educational institutions are resorting to online alternatives to take classes and write exams and Odem is providing free access to its blockchain-powered educational and credentialing platform to higher institutions. While the Odem platform may not be a perfect replacement for the traditional classroom experience, it definitely is helping to bridge the learning gap in these trying times.

Donation Tracking

The humanitarian grace of many people was reawakened with the Covid-19 disease outbreak. With donations coming from sports celebrities, business leaders, etc. HyperChain, Hangzhou based blockchain startup has created a donation tracking system that will help donors see where funds are urgently needed. With this ingenuity, HyperChain has raised millions of dollars in coronavirus donations with the promise of transparency and responsibility.

Algorand

The Algorand Foundation launched a health survey website to record public health trends during the novel coronavirus pandemic. With this survey website called iReport-COVID, infected persons can give an account of their experiences anonymously with an assurance that their identities will be protected.