In March 2020, COVID-19 was declared by the World Health Organization to be a pandemic. Just over six months after that declaration, there have been almost 33 million cases of the disease worldwide and nearly 1 million deaths. While most of the stories from the pandemic involve its astronomical cost in terms of human life and suffering, the disease has also revealed a number of problems in our global economic infrastructure. A surprising number of these weaknesses might be addressed, or at least reduced, with blockchain technology.
As a result of COVID-19, businesses around the globe, including in the most economically advanced countries, have encountered supply issues that they were woefully unprepared to address. They could not collect and access important information rapidly enough to quickly deploy available resources to where they were needed most.
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