Blockchain Technologies: Assisting with the COVID-19 fight
courtesy Pixabay at Pexels.com

Blockchain Technologies: Assisting with the COVID-19 fight

I delivered a presentation on emerging trends in Blockchain to several technology executives & others (e.g. attorneys, State personnel) in early March 2020. United States was just beginning to feel the impact of COVID-19 at that time. 

I discussed Blockchain trends in various industries, an international Blockchain-based supply-chain Use Case and tracking of shipment across major supply-chain transit points including:

  • Raw material sourcing to production facilities.
  • Finished goods transportation to the shipyard and loading them on containers.
  • Shipping goods internationally.
  • Port of entry customs clearance.
  • Product delivery to the customer.
  • Payments release to the suppliers.

How conventional supply chain issues are solved by Blockchain-based solution was also discussed. These included:

  • Smart contracts automatically releasing payments without human intervention. Conventional supply chain systems cannot do this easily.
  • The immutability feature of Blockchain ensures tamperproof and auditable records. In conventional solutions, records can get lost or conflicts to arise due to records mismatch between partners.
  • As a common platform, Blockchain-based solution solves interoperability issues where traditional supply chain systems struggle with this.

Blockchain-based supply chain benefitting from AI, Telecommunications, and the Internet of Things (IoT) was highlighted. E.g., Artificial Intelligence (AI) can be used to derive actionable insights across the supply chain spectrum.

After the presentation, an attendee walked up to me and asked, “How can Blockchain technology help in with COVID-19 if it becomes a major issue?

 That had me thinking. With limited knowledge of COVID-19 at that time, I could only think of possibilities with the supply chain use case discussed. Leveraging that, I responded:

 “Historically, supply chains get stressed during an emergency. Shipping, tracking, and distribution of supplies become difficult in chaotic situations, as it did during the hurricane in Puerto Rico. A Blockchain supply chain with its immutability and traceability capability can help track Medical supplies from manufacturers to their distribution at various healthcare facilities.

  Fast forward to April of 2020 and the words “Supply chains get stressed” is already an understatement. Supply chains are disrupted and stretched beyond their limits. In some countries, Blockchain, AI and IoT technologies are restoring order to the broken supply chain system in highly impacted areas.

Blockchain Technologies: Assisting with the COVID-19 fight

logo Blockchain. Courtesy Launchpresso at Pexels.com


 Blockchain technology is already in use in China to disseminate COVID-19 related information to its citizens. Alipay, a Chinese company sharing validated & true-to-its-origin COVID-19 information using a Blockchain-based solution to citizens over mobile phones. This effort is helping citizens cut through fake COVID-19 materials.

 In Hubei province, healthcare workers are receiving face masks and medical supplies through a Blockchain-based donation platform Shanzhong, run by a startup Hyperchain and others.

Existing Blockchain Solutions and Re-purposing Possibilities

medical chart, courtsey; Pixabay at Pexels.com

COVID-19 specific Blockchain-based solutions can be developed, but that takes time. Re-purposing, or enhancing an existing Blockchain solution with COVID-19 relevant capabilities is a better approach.

A Blockchain-based system called MediLedger has been developed by approximately two dozen companies including Pfizer, Eli Lily & Company. The system is expected to track prescription drugs across the drug supply chain. It is also meant to track counterfeit drugs.

Consider a possibility where such a system is cloned or enhanced with COVID-19 supply-chain capabilities. Such a supply chain can be leveraged to:

  • Track medical devices & supplies delivery to healthcare facilities.
  • Store and process medical data using off-chain/on-chain solutions.
  • Raw data & processing results can remain in off-chain databases while hash of these can be stored on-chain on Blockchain leveraging the strength of both the technologies.
  • Artificial Intelligence (AI) and analytics can deliver actionable insights using the off-chain data.
  • Insights gained can be used to update citizens with better recommendations.

State, cities, and counties can record COVID-19 cases and data like trends, cases per area, statistics, and decisions can be recorded on the Blockchain. The public can receive verified and authentic information sourced from the Blockchain directly.

Non-medical Blockchain-based platforms can also help with the COVID-19 pandemic fight. E.g., some Charities use Blockchain- solutions to record donations and track funding dissemination. The same can be done for COVID-19 donations also. Donors can have full visibility into how their donations are being disbursed.

Technologies like IoT and AI in combination with Blockchain-based solutions can accelerate the fight against COVID-19. In January of 2020, Google DeepMind introduced AlphaFold that uses AI for scientific discovery. AlphaFold was put to use for COVID-19 research in early March 2020. Already datasets and results of the research have been disseminated freely to the scientific community worldwide. 

Conclusion

Supply chain management of medical supplies is disrupted due to COVID-19 related volatility across the globe. The disruption is heavy at hand-off points between the supply-chain partners, especially where human intervention is required. Blockchain-based solutions supported by other technologies can assist with the global fight against COVID-19.

About JP Batra, Author

JP Batra is an Interim CTO/CIO for mid-sized companies, and a functional executive leader on strategic initiatives, Blockchain, AI and IoT for large corporations. A distinguished innovator, a thought leader, and B2T strategist, Batra transform IT departments and prepares them to thrive in disruptive environments. His emerging tech and innovation-driven work are aimed at accomplishing growth, opening new markets, reducing costs, improving employee engagement and creating new opportunities for companies. JP’s twitter handle is@jpbatra and he can be reached at [email protected]

Keywords:

#Blockchain #Emergingtech #EmergingTechnologies #ProductManagement #CIO #CTO #CPO #Innovation #POC #Technology # Product #Management #Product #Development

JP Batra

CTO | CIO | Board Advisor | Innovation Leader & AI Consultant | Cybersecurity | Digital Transformation |Private Equity (PE) | : Explosive Growth and Cost Optimization

4 年

Here is what the World Economic Forum is saying about Blockchain and COVID-19 (see my article on Blockchain security it also): https://www.weforum.org/press/2020/04/blockchain-to-tackle-supply-chain-failures-exposed-by-covid-19-and-boost-economic-recovery

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