Cointelegraph Team
Cointelegraph
Amid the ongoing coronavirus epidemic, China has turned to blockchain technology to manage medical data, track supply of virus prevention materials and consult the public.
For the first two weeks of February, China saw the launch of as much as 20 blockchain-based applications designed to help fight the coronavirus outbreak, domestic news outlet People’s Daily Online reported on Feb. 17. Most of the apps are used to manage citizens’ personal data as many people are returning to work this month.
Blockchain is on guard for medical data security
Local authorities noted that blockchain lets them effectively track and secure collected information. Thus, Xi'an, the capital of Shaanxi Province, applies the tech for online consultation and screening, as well as securely manage health records. In Hangzhou, tech company Vastchain Technology rolled out a WeChat-based program dubbed Access Pass. The program generates a QR code that residents can use to enter gated communities.
In collaboration with the Zhejiang Provincial Health Commission and the Economy and Information Technology Department, mobile and online payment platform Alipay introduced a platform that enables charity organizations and initiatives to collaborate more efficiently and transparently.
Specifically, the app allows users to track allocation and donation of relief supplies, as well as the review, recording and tracing of demand and supply chains of medical supplies.
Coronavirus’s impact on businesses
The coronavirus has indeed compromised the normal course of things in Asia, forcing a number of cryptocurrency-related conferences to postpone. Hong Kong-based blockchain remittance startup Bitspark also abruptly announced its closure. The closure came along with the coronavirus outbreak in China and anti-government protests in Hong Kong, where Bitspark’s headquarters is located.
Crypto mining firms such as Bitmail, MicroBT and Canaan also published notices on their websites of delays in their after-sale services due to the outbreak of the virus.
As Cointelegraph reported earlier in February, insurance firms in China use blockchain to manage coronavirus-related claims amid the outbreak. Thus, online mutual aid platform Xiang Hu Bao added the coronavirus to the list of illnesses eligible for a maximum one-time payout of around $14,300 (100,000 yuan).
Blue Cross Insurance, owned by the Bank of East Asia is reportedly helping to decrease the bureaucratic impact of the coronavirus outbreak with a medical claims app.
In the meantime, it has been reported that China started a quarantine of its used bank notes to try to stop the spread of the coronavirus.
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.
Recommended Content
Editors’ Picks
Bitcoin Cash could become a Cardano partnerchain as 66% of 11.3K voters say “Aye”
Cardano founder Charles Hoskinson proposed integration of Bitcoin Cash into a Cardano Partnerchain. 65% of 11,340 voters voted in favor of, to the contrary “No”, meaning “Ayes” have it, but this is pending confirmation.
Render Price Prediction: RNDR could hit $10 after successful breakout with ecosystem’s LD token launchpad
Render (RNDR) price is trading with a bullish bias, boasting higher highs, with the AI crypto coin not only outperforming its sector peers, but also doing better than most altcoins in the broader cryptocurrency space.
Tesla updates payment methods to include DOGE, Dogecoin price rises 6%
Tesla Inc., Elon Musk’s American multinational automotive and clean energy company headquartered in Austin, Texas, is the latest catalyst for Dogecoin (DOGE) price rally.
Sui daily transactions reach 41 million, overtakes Solana with SUI price primed for recovery
Sui (SUI) price has dipped 3 % in the past 24 hours and remains down 15% in the last week. However, other metrics suggest something could be at play in the Sui ecosystem as daily transactions skyrocket.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.