After almost a year, humanity continues its fight against one of the worst crises it has faced in more than a century: the Coronavirus. And is that, the virus originated in the city of Wuhan in China, has caused enormous human and economic damage. Therefore, it is not surprising that governments look to blockchains for mechanisms to try to reactivate their economies. Reason why Blockchain passport could be a reality in Saudi Arabia.
During the last months, the whole of humanity has been fighting against the pandemic generated by the Coronavirus. There is not a single country on the entire planet that has not been seriously affected by the effects caused by this disease. Which has claimed the lives of thousands of people, while generating millions of dollars in economic losses.
And it is that, since there is no vaccine to combat the Coronavirus. The only defense that humans have against this disease is social distancing and quarantine. Which, although it prevents the rate of spread of the virus from being too great to control. It has had a major impact on commercial and industrial activities around the world. By preventing people from being able to move to work normally or consume as they did before the pandemic.
For this reason, one of the priorities of all governments on the planet has been to find ways to reopen their economies safely. For which all kinds of technological products have been created, which allow reducing the contact of healthy and sick people. And therefore reactivate economic activity without causing a re-emergence of the disease. Precisely one of the objectives of Saudi Arabia with its possible Blockchain passport.
A Blockchain passport against the virus
The idea of a Blockchain passport to combat the Coronavirus is not new. Well, companies like Microsoft have been studying the possibility of creating a product like this for months. With the aim that people can verify their health without having to expose their personal data to governments and companies.
However, in the case of Saudi Arabia, the Blockchain passport would work differently. Well, it is intended as a mechanism that can serve both during the pandemic and after it. Since, the passport would be specifically designed for the international business community.
Thus, the Blockchain passport proposed by Saudi Arabia, would allow companies around the world to easily verify that they are following the regulatory guidelines established by governments. Which would facilitate the identification of commercial agents and trust between companies around the world. Making commercial exchanges easier during the Coronavirus pandemic, and being useful to generate relationships of mutual trust once it happens.
In this way, and although this Blockchain passport is only a proposal today. It is a clear example of how blockchains can be used by companies and governments, not only to improve the situation in which the economy finds itself during the pandemic. If not even after it ends.