Coronavirus and blockchain – how can the modern technologies help in the crisis

[vc_row][vc_column][vc_paragraph text=”Coronavirus that is being fought by literally the whole world, is penetrating various spheres of society with growing force. This is why we should consider technologies like artificial intelligence and blockchain as possible tools for overcoming the crisis.“][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”Production and supply in precarious conditions ” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The virus that is now attacking all countries will have serious consequences for the world economy.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”In this context, the biggest problem is obviously the supply disruptions that are increasing as fast as the virus spread. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=” While the demand for particular products (medical masks, disinfectants) has grown significantly, the manufacturing of other goods stops due to the lack of spare parts.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Technologies like blockchain and AI may be extremely useful for overcoming the crisis caused by the disease.”][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”Implementation of blockchain and AI” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Both of the technologies have great potential for fighting the coronavirus pandemic impacts. First of all, they can help to predict possible reaction to the current events and forecast demand changes. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”As regards this, the artificial intelligence may be extremely useful for identifying patterns and predicting further consequences.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Different methods based on AI may also help to find patients with high risk of disease complications (by analyzing the medical records and detecting those who suffer from co-existing illnesses like diabetes, heart conditions, hypertension).”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Secondly, both technologies can be used for escorting shipments especially when supply chains depend on one source that can malfunction.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Another current problem of high priority is about poor quality and production of medical equipment. This is where the blockchain technology might help to trace the origin of separate products. Meanwhile, it presents an open distributed ledger: all the records can be seen and no one can change or delete them which guarantees the transaction transparency.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”For example, China uses blockchain to trace and approve the sources of public announcements that helps to find false information. Smart contracts, based on blockchain, automatically make exchanges of money when all the contract conditions are met. They also help to reduce inflation ensuring the transparent and fair distribution of costs.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Both blockchain and AI have huge potential that may increase when they combine efforts. But this requires an appropriate competency and investments in the infrastructure. The crisis management usually consists of three stages: preparation, reaction and recover”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Currently, humanity is undoubtedly at the stage of reaction so certain actions are necessary to support entrepreneurs and for responding to all economic changes. All of these demand the investments in such fields as blockchain, 3D printing and artificial intelligence.”][/vc_column][/vc_row]

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Bitcoin vs Stocks

Sooner or later, there comes a time in everyone's life when we think about how best to invest our savings. ...