Blockchain technology since its inception, with the arrival of Bitcoin in 2009, has been an impossible storm to stop. But, this growth, although unstoppable, was very slow, until Coronavirus 🦠 appeared. Therefore, COVID-19 could have been a blessing for the Blockchain.
At the beginning of its history, Blockchain technology did not have a name created by itself. Whenever the Blockchain sector was mentioned in the symposia, it was immediately accompanied by the words cryptocurrency and Bitcoin.
This brought him problems in these first days, as cryptocurrencies had gained a negative connotation thanks to the Silk Road, a situation that still continues to haunt the world of cryptocurrencies.
But, in recent times, this seems to have been in the past. Well, the Blockchain technology sector has created its own name away from the shadow of cryptocurrencies. Although still inseparable, the world seems to have noticed the benefits of this technology, without the need for cryptocurrencies like Bitcoin to be present.
In this content we will briefly talk about the impact that COVID-19 has had on the Blockchain sector.
And then, the Coronavirus arrived
At the end of 2019, rumors were already being heard about a flu that was causing problems in Wuhan, China 🇨🇳. But, it wasn’t until the first months of 2020, when panic consumed us all.
The COVID-19 pandemic was already our neighbor and we did not realize it. Work from our homes, quarantines, home services of all kinds, online education. This brought with it a large number of problems, which were not the daily routine for the majority of the world population.
We did not know, and we do not know, precisely where our delivery person is, if the food that I have brought to my home has passed the health regulations. Problems of teachers when teaching online, problems of installing our offices in our homes. All because of the fear of COVID-19.
These kinds of problems brought about by COVID-19 may have been the best thing that has ever happened to the Blockchain industry. Blockchain technology has a lot to offer, and the COVID-19 focus can increase its adoption in various industries.
COVID-19 and Blockchain
The first obvious use case for Blockchain technology is to improve the supply chain. Some will say that for years all the benefits that Blockchain would bring have been discussed. And even, there are already large companies investing in this.
But the COVID-19 is undoubtedly the most solid use case so far for the Blockchain. Because people who did not understand before have had to do it the wrong way in this pandemic.
In fact, even the World Economic Forum (WEF) is seeking to promote the development of a global Blockchain-based supply chain thanks to COVID-19.
Another way that Blockchain can help fight COVID-19 is by allowing the establishment of a public medical record.
The idea is that the health sector around the world can have the complete medical history of any patient at their fingertips within seconds before starting COVID-19 treatment using the Blockchain.
Simply put, COVID-19 has shown unbelievers the power to help humanity that Blockchain technology has.