Blockchain and COVID-19 – Where can Blockchain be used?

The coronavirus pandemic has had a global impact, particularly on procurement and medical supply chains. Blockchain could provide a mechanism for health systems to continually update factories with the latest product requirements and specifications, almost like a production auction. Currently, standards vary across health systems and countries, creating confusion for what each factory should be producing. As governments and businesses around the world start to grapple with the huge task of getting our economies back up and running, the enormity of the challenge is starting to become clear. The world’s industries, particularly those engaged in the medical supply chain, are having to deal with a range of issues, from product requirements through to customs certification, and are often using complex, legacy procurements systems that have struggled during the coronavirus pandemic. These issues mean that it’s hard to verify aspects of production or distribution, resulting in breakdowns of trust across global supply chains. Various innovative solutions have been proposed, and, at the forefront of these, is blockchain technology. Blockchain and COVID-19 – Where can Blockchain be used? Blockchain technology wide range of applications means that it has an increasing platform on the world stage, with the potential to revolutionise health provisioning, accelerate innovation and enable new data-driven intelligence across multiple sectors. Transparency and accountability are precisely what’s needed at this moment in time, as we deal with extensive disruption to global supply chains. The IET has recognised the important role that blockchain is going to play in our futures, and we are launching a new journal to explore, review and promote the technology Blockchain and COVID-19 – Where can Blockchain be used? There are many common questions that arise around Blockchain technologies such as what exactly is Blockchain?, where can Blockchain be used?, how does a block chain work?, what is Blockchain in simple words? what is Blockchain good for and can we trust Blockchain?