• Shivkumar

Blockchain - A guard for Businesses, During Corona Virus Crisis.

(By Shivkumar)

Blockchain against Coronavirus is rising as the redeeming factor for the Asian country.Numerous blockchain-based applications have been developed since the outbreak of the disease to tackle the threat of the virus.


1.Blockchain - Medical data security:- China has turned to blockchain technology to manage medical data, track supply of virus prevention materials and consult the public.Blockchain has lets effectively track and secure collected information for online consultation and screening, as well as securely manage health records.


2.Blockchain - Insurance Claim Processing :-Xiang Hu Bao is not an insurance policy, but a blockchain-based collective claim-sharing platform that counts 104 million users. Per the report, blockchain technology is employed by the system to prevent fraud and allow for faster claim processing.


3.Blockchain - Reduced Used Paper :- Blue Cross Insurance claims that its platform is capable of managing over 1,000 transactions per second without human involvement.Patients using the app can see the result of their claims within a day after the hospital visit.


4)Blockchain - BItcoin & Altcoins :- when the infection numbers out of China were showing drops in the rate of growth, it was strange to see bitcoin staying at highs above $10,000.As U.S. stocks tumbled on Monday by the most in six months amid renewed coronavirus fears.


5)Blockchain - Artificial Intelligence :- Insilico’s A.I.-based system, which took just four days to identify thousands of new molecules that could be turned into potential medicines against the coronavirus.


6)Blockchain - Research & Development :-Acoer a company providing blockchain technology to healthcare and life sciences institutes to easily track and visualize the virus outbreak around the world.


Summary

But over a longer period of time, anything that's inflationary, or said another way devalues other currencies, strengthens the purchasing power of bitcoin or other altcoins.The coronavirus wasn’t the only news potentially affecting bitcoin prices on Monday but Warren Buffett asserted in a CNBC interview that he doesn’t own any cryptocurrency and “never will.”


But over a longer period of time, anything that's inflationary, or said another way devalues other currencies, strengthens the purchasing power of bitcoin or other altcoins. The coronavirus wasn’t the only news potentially affecting bitcoin prices on Monday but Warren Buffett asserted in a CNBC interview that he doesn’t own any cryptocurrency and “never will.” ely and reasonably.

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