Different strategies being implemented by different agencies but one remain unaware uses of Blockchain Technology to contain crisis..

Now, digitization has started and evolving everywhere, in fact, out of 7+ billion people on earth 4.57 billion people were active internet users on internet according to www.statista.com website. These 4.57 billion people are generating huge amount of data each day, so to manage and create trust for use of these large amount of data among public is where blockchain technology will help. Other centralized technology or propitiatory technology will just misuse data for ill-profit motive.

As we all know blockchain is a decentralized, distributed and public ledger where every transaction has to confirm by each node on the network. Blockchain act as a ledger to verify every source and destination of transaction. i.e organizing the data on the network by the consensus mechanism and hence creates public trust in the networks among every stakeholders.

Here is the image how blockchain works:-

Now, as we have known now how blockchain works. Here is how blockchain will help to contain the crisis.

• Tracking of Covid-19 outbreak:

We are seeing everyday news about Covid-19 reporting cases and each day much more data being generated in public profile. So, to verifying this data is major obstacle now as we rely only on News Agencies. So by enforcing a standard of frequent data reporting and then establishing a single source of truth will verify that data. That will help to identify region or area with authentic data either as red zone or green zone. Also, Capacity of blockchain technology to process data is very high and it can help to early detection of symptoms.

• Protection of user's Privacy Health:

Privacy is what promise blockchain technology. It can record patient information with symptoms, locations and past health history conditions. Being Decentralized and Public trust network, it guarantee 100% privacy.

• Medical Supply Chain:

Medical Equipment and Medicines supply can be tracked from origin to destination using blockchain technology in a trusted and reliable manner. Entire process involves demand, supply and logistics.This is more important for Pharmaceutical companies as it will help to improve its supply chain and can generate report on Public Health Requirement.

• Tracking Of Covid-19 Donation:

Financial transaction in Blockchain Technology uses cryptographic message i.e. digital signature and digital certificate is appended . It helps to track information of sender, receiver and volume of transaction and update it in real time basis. this way it will help to donors whether his money is being use for public good or just being kept idle.

Example: Covid-19 donations, NGO's, Major Agencies such as WHO, World Bank, IMF, UN etc lend/donate millions of dollars for public interest crisis/development and it can help them to track uses of money in real time.

• Safely day-to-day operations:

It serves as a safe environment for operations via virtual network environment and hence creates safe operations for large and small public ledger. This helps to all stakeholder who participate in blockchain to have trust in flow of data and process in safely manner.

• Insurance Industry:

To detect false claims policy, blockchain technology is like God Saviour for Insurance industry nowdays. Number of patient that is claiming health insurance is making huge burden on asset portfolio for insurance industry. This is where blockchain technology will help them to track their client's authenticity/credibility for claiming the policy.

• Smart Contracts:

Using smart contracts on blockchain technology it can help to alert the risk associated with the objects in real time basis. Smart contracts are executed in blockchain when certain conditions are met. For example- If all symptoms of Covid-19 virus are showing positive for patient then by enabling this condition in smart contracts, it will execute and create alert instantly. This helps to large institutions (For example World Health Organisation) or governments to measure solutions for the crisis. Hence, blockchain can too handle crisis and can be use as crisis management (or any other Natural Calamity/Disaster).

dApps which are another extension of blockchain technology is making a way to replace custom build apps (apps which are centralized and control by one entity) that can't be trusted as they are not on public ledger and distributed. I had written an article on dApps.

There are so many real life uses cases of Blockchain technology that promises a lot if adopted early like Insurance, Healthcare, Real Estate, Bank or Financial Service, Manufacturing, Energy, Media, Retail and consumer etc.

Fake News, Money Laundering, Election Engineering, Fraud, Ill profit motive of large corporations could be easily eliminated by using blockchain technology.

However, hesitant and lack of confidance in blockchain technology by governments and regulators of today's modern countries and so called liberal democratic are making hurdles in blockchain technology and crypto industry.

This article is not late informing but giving urgency for use of blockchain technology to large public interest and giving warning to prepare for further natural calamity to numb ear as we have seen how lockdown is affecting day to day life.