The Coronavirus has become a major global disaster. While Wuhan province in China has been the most affected, the effect has been global, with the number of confirmed cases now topping 30,000. The economic effect has been huge, and the world of crypto has felt it as well. Cryptocurrency mining is almost entirely dependent on China, with the biggest manufacturers of mining equipment Bitmain and Canaan Creative being located in the capital Beijing. With the Chinese government clamping down on international travel to contain the virus, Bitmain, Canaan and others have found it difficult to ship their products. This could see miners being forced to pay more for their mining gear.
As the Coronavirus epidemic persists, blockchain could greatly aid the response efforts. According to one expert in Hong Kong, blockchain could introduce transparency in funds distribution, especially now that the government has centralized charity efforts. Combined with AI, the technology could also increase data authenticity and lead to a better decision-making process.
Already, blockchain solutions have been developed aiming at fighting against the Coronavirus. One of these is Hyperchain’s blockchain-powered charity platform to raise funds for the cause. The Hangzhou-based company has announced that the platform will serve as a medical donations supply portal, with the money raised being given to hospitals in China.
In yet another instance of blockchain response to the epidemic, Acoer, a blockchain solutions developer has built a data visualization tool to track the spread of the virus. The platform uses data from the Word Health Organization and the Center for Disease Control. It gives the public an easier,