Blockchain - "savior" in Corona season
The Corona pandemic is becoming more and more serious and causes many problems in social control: spreading fake news, shortage of medical equipment... Facing that situation, the authorities of some countries and countries Large organizations like IBM, WHO have implemented a number of anti-Corona projects thanks to Blockchain technology.
Let's explore with primexbt trading what Blockchain is and how this new technology deals with these conundrums!
Summary of Blockchain technology
In a popular way, Blockchain is the operating foundation of cryptocurrencies. In essence, Blockchain is a distributed data chain made of information storage blocks connected by hash codes created and operated by consensus algorithm. Participating in the Blockchain network are nodes that have the role of validating transactions.
Blockchain works based on consensus algorithm and proof of work. Specifically, each transaction made must go through the door of "miners". They will put the above information into a block and compete against each other to decode the algorithm to find the hash code or the working proof of that block. The reason miners compete is because the person who finds the solution the fastest gets the block reward. This new block is then propagated to other nodes to be confirmed and backed up. Nodes have the same authority and take turns participating in transaction verification.
The latest applications of Blockchain in the Corona epidemic
Encourage donation
Many people must have had difficulty donating to foreign organizations because they did not have an appropriate means of payment such as Visa or Mastercard. In addition, when donating by such traditional methods, we incur a sizable international transaction fee and it is not clear to whom the money will go.
But with Blockchain, things are different. Transactions are conducted completely online, conveniently with negligible costs compared to the transaction amount. Not only that, philanthropists can also track donations on an anonymous data system. Most importantly, we are not limited by any national borders.
On March 12, the Italian Red Cross launched a fundraising strategy through Helperbit, a blockchain-based charity donation platform. After only 2 weeks, the project has raised more than 3 Bitcoins, equivalent to more than 500 million VND to build a medical facility to support the pre-diagnostic classification of Corona virus infections in this country.
On March 24, Binance's blockchain-based charity donation platform also launched the "Crypto Against COVID" project, which has now collected 360 Bitcoins equivalent to more than 60 billion VND and less than half of it comes from Binance itself. . This money will be used to buy medical supplies for hospitals that are struggling against the epidemic globally.
There are also many donation projects on Blockchain platforms such as The Giving Block, Gitcoin, or more and more donation projects accepting donations in cryptocurrency such as The Water Project, Save the Children, No Kid Hungry etc.
Support social distancing
Right now, when most people are asked to limit going out, all activities in life tend to be "digitized", you can even visit museums via the Internet. However, entertainment and travel needs can be temporarily ignored, but administrative tasks are more difficult to solve online because of the risk of forging documents. This is where Blockchain plays to its integrity strengths.
At the end of March, the News Agency of the United Arab Emirates (UAE) reported that the Ministry of Community Development decided to stop receiving direct correspondence to limit the spread of the disease. The document authentication process is done entirely on the network using a digital identity and a Blockchain-based system. Thus, the people of this country can rest assured at home without worrying about missing work during the Corona epidemic season.
A unique application of Blockchain during the epidemic season is to distribute diplomas to students! This is an initiative of Pohang University of Science and Technology, Korea after canceling the graduation ceremony in February due to the rapidly spreading Corona virus situation in the country. Then, instead of sending the diploma via email in the traditional way, the school administrators send students a link to access the degree protected by Blockchain technology.
Authenticate and share information
The more strongly the Corona epidemic spreads, the more fake news appears to confuse public opinion. On the other hand, the lack of accurate information also makes it difficult to prevent and control the epidemic, especially when people
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