On November 9, drug maker Pfizer announced that the COVID-19 vaccine is 90% effective, and while it may be too early to announce the end of the pandemic – as the virus continues to spread in the United States and Europe – at some point. in the slightest guess: where will blockchain implementation stop when the crisis dies down?

After all, some have predicted that global health disruptions could be the perfect storm for blockchain adoption around the world. An article from the April Harvard Business Review titled “How the Epidemic is Moving Blockchain Forward,” for example, notes:

“The virus has exposed weaknesses in our supply chains and our inability to allocate resources where they are most needed to combat the pandemic. […] Blockchain solutions that have been in development for years have been redesigned and released to address these issues. ”
Will decentralization continue?
The world was moving towards a more decentralized economic structure even before the coronavirus pandemic, but the crisis was due to the lack of masks, ventilators and reliable medicines; Travel bans and teleworking protocols; Contact tracing and more initiatives have undoubtedly accelerated the process, and it should continue after the epidemic has subsided.

For example, a survey of 12,500 Americans conducted between May and October found that “20 percent of all full-time work days will be delivered from home after the pandemic ends,” compared with 5 percent before the COVID-19 disaster. According to the researchers, working from home will “stay” because the stigma associated with teleworking will disappear, which will save time on the road, and many employees enjoy it – at least part of the work week.

“This [decentralization] trend will continue after the pandemic,” Philip Sandner, head of the blockchain center at the Frankfurt School of Finance and Management, told Cointelegraph, adding: “The current pandemic has demonstrated how valuable and effective decentralization is – so we can increase resilience. in the face of events. Unexpectedly, often increasing operational efficiency.

Last April, Ariel Zeitlin-Jones, assistant professor of economics at the Carpet School of Business at Carnegie Mellon University, told Cointelegraph that the pandemic has taught us some hard lessons, especially because addiction is a weak point: “We need a stronger economy – the area in which there are chains. The supply is less dependent on one product, workers are less dependent on the work of one company, and people are less dependent on one source of health care. In short, there is a need for a more decentralized global economy and blockchain technology seems to be uniquely off the shelf. play a role.

After examining the current situation with Cointelegraph, Tsetlin-Jones said he still expects more decentralization after the end of the COVID-19 pandemic. “I expect that many sectors of the economy will continue to look for ways to better diversify against global shocks such as a pandemic.” He added: “Whether this diversification will come through decentralization or a few central players that increase the level of diversification remains to be seen. Moreover, according to him, blockchain can play a role in all of this:

“To the extent that blockchain offers a way to achieve this diversification by decentralizing the application of a common database or registry, I remain optimistic that it will play a role in the economy in the future.”
Others, however, are more controversial. Hannah Halaborda, an associate professor at New York University’s Stern School of Business, told Cointelegraph that “Blockchain has not achieved what it hoped for” during the pandemic. “As a contact-tracing solution, it barely succeeded: it was too slow, cumbersome to implement, and didn’t reach critical mass.” IBM’s blockchain-based COVID-19 tracking solution hasn’t paid off, she said. “The best contact tracing solutions are not blockchain-based,” she added.

However, technologies such as Zoom, a teleconferencing application that has become mandatory for many homeworkers, has grown during the crisis, and this may have an indirect effect of making people and companies more open to new technologies.

Role in obtaining medical information?
In his recent book Pandemic Information Gap: The Violent Economy of COVID-19, Joshua Gans, professor of strategic management at the University of Toronto, argues that blockchain technology can be used to test whether people have been tested for infection. how when and how they were vaccinated against the viruses. “I think governments still can’t make a decision on this,” he told Cointelegraph. The problem is that they depend on central databases. Will it be secure and scalable enough? It’s hard to say now.

Source: CoinTelegraph

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