Wondering if blockchain developers can solve major challenges of COVID-19 or not? The article below enlists what the major challenges are and how blockchain technology can address such issues.
Learning Of Blog
- Major challenges of COVID-19
- Blockchain preventing pandemics
- Concluding lines
Blockchain is a record of activity that is tamper-proof, time-stamped, and shared across a network of computers. Each transaction that goes into the record of activity is enclosed in a block and linked together in sequential order to form a chain, giving it the name blockchain.
Blockchain is gaining traction as a tool that could help in solving some of the significant healthcare industry-related problems that have resulted in higher costs and wasteful spending for all. Blockchain developed about a decade ago and garnered attention as the “distributed ledger” technology that acts as the backbone of the cryptocurrency bitcoin. Even the healthcare sector has woken up to Blockchain’s capabilities over the past few years as the technology is evolving beyond bitcoin to meet the desired needs.
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Let’s see what are the major challenges of COVID-19.
Major Challenges of COVID-19
Although there are various challenges associated with COVID-19, we have listed the primary ones here.
- One major issue is how prepared the world’s health systems are to respond to this outbreak.
- Tracking a huge population of infectious patients to stop epidemics.
- Another is the immediate requirement for developing better diagnostics, vaccines, and targeted therapeutics.
- Misinformation and conspiracy theories spread through social media platforms.
- Various limitations while accessing the tools when required.
- No adequate measures to adopt in a crisis situation.
Blockchain Preventing Pandemics
Presently, Coronavirus is unleashing massive shock waves among global health, science, government, and business communities as nations are trying to contain the virus. But, through the implementation of interoperable blockchain solutions, Coronavirus can be treatable. Top companies in the industry today have recognized the potential of this technology and started to build several blockchain solutions aiming to track donations and drug supply chains, medical supplies, managing medical data, warning citizens and identifying symptoms of infection from this breathtaking disease COVID-19. Let’ see how.
Tracking Infectious Disease Outbreaks
The world is looking into different solutions looking to cure the COVID-19, although there has not been any effective cure for the virus to date.
Blockchain can be used for tracking public health data surveillance, particularly for infectious disease outbreaks such as COVID-19. With increased blockchain transparency, it will result in more accurate reporting and efficient responses. Blockchain can help develop treatments swiftly as they would allow for rapid processing of data, thus enabling early detection of symptoms before they spread to the level of epidemics.
Moreover, this will enable government agencies to keep track of the virus activity, of patients, suspected new cases, and more.
As trust is one of the major issues in donations, Blockchain has a solution for this issue.
The Charity Law of China was introduced in the country in 2016, to enable private charities, to develop the charity field and the interests of stakeholders.
There has been a concern that the millions of dollars being donated for the public are not being put to use where needed.
With the help of blockchain capabilities, donors can see where funds are most urgently required and can track their donations until they are provided with a verification that their contributions have been received to the victims. Blockchain would enable transparency for the general public to understand how their donations have been used and its progress.
Yes, no wonders, but Blockchain could also manage crises situation. It could instantly alert the public about the Coronavirus by global institutes like the World Health Organization (WHO).
Not only it can alert, but Blockchain could also enable to provide governments with recommendations about how to contain the virus. It could offer a platform where all the concerning authorities such as governments, medical professionals, media, health organizations, media, and others can update each other about the situation and prevent it from worsening further.
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Securing Medical Supply Chains
Blockchain has already proven its success stories as a supply chain management tool in various industries; similarly, Blockchain could also be beneficial in tracking and tracing medical supply chains.
Blockchain-based platforms can be useful in reviewing, recording, and tracking of demand, supplies, and logistics of epidemic prevention materials. As supply chains involve multiple parties, the entire process of record and verification is tamper-proof by every party, while also allowing anyone to track the process.
This technology could help streamline medical supply-chains, ensuring that doctors and patients have access to the tools whenever they need them, and restraining contaminated items from reaching stores.
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A blockchain is an essential tool for establishing an efficient and transparent healthcare business model based on higher degrees of accuracy and trust because technology is a tamper-proof public ledger. Blockchain will surely not prevent the emergence of new viruses itself, but what it can do is create the first line of rapid protection through a network of connected devices whose primary goal is to remain alert about disease outbreaks. Thus, the use of blockchain-enabled platforms can help prevent these pandemics by enabling early detection of epidemics, fast-tracking drug trials, and impact management of outbreaks and treatment.
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