UK researchers to test a blockchain certification to manage COVID-19 health risks

  • UK’s “Fourth Industrial Revolution Technologies Centre” will soon be testing a blockchain-based Coronavirus Clearance Certificate.
  • The certificate (issued to businesses or products) confirms that they have followed appropriate steps to mitigate risks from COVID-19.

Researchers are now testing a new blockchain-based certificate that’s designed to manage and mitigate coronavirus risks across supply chains. In a recent statement, Professor Nassim Belbaly, director of Birmingham City Business School, noted that “coronavirus represents a crisis of trust because we cannot any longer automatically trust goods or suppliers.”

Secure and automated solutions are, therefore, being used to reassure users and suppliers that goods across the value chain do not pose any health risks. To tackle these issues caused by the pandemic, a newly-launched “Fourth Industrial Revolution Technologies Centre” is testing a blockchain-based Coronavirus Clearance Certificate (CCC), issued by The Transnational Transparent Procurement Foundation (TTPF) in the UK. 

Reportedly, the CCE certificate can be issued to products, organizations and even people to confirm that they have adhered to the necessary steps to mitigate risks from coronavirus. Olinga Taeed, a visiting professor of blockchain at Birmingham City University, said:

[The certificate] confirms that a supplier adheres to highest standards of public health, sustainability, anti-bribery and even modern slavery. And in this case, we can verify the level of supply risk due to the coronavirus. It represents the future of supply chain management.

The certificate will initially be tested in the UK Midlands - a region that has been severely affected by the pandemic.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.