3 Ways Crypto Industry Fights Coronavirus Get Whole Detail

3 Ways Crypto Industry Fights Coronavirus
#Ways #Crypto #Industry #Fights #Coronavirus

spot72.com 3 Ways Crypto Industry Fights Coronavirus The Corona virus (Covid-19) pandemic has forced thousands of workers around the world to work from home. This must be understood as a call to everyone to keep their distance to reduce the risk of spreading Covid-19 that occurs in the community.

As a result of the Covid-19 pandemic, sectors such as Hospitality, Tourism, Finance, Manufacturing, and trade experienced an alarming decline. Currently, there are at least 200 countries in the world that have recorded positive cases of confirmed COVID-19.

Where, the crypto industry turned out to have a big enough contribution to help the medical team fight Covid-19 with the help of technology.

In fact, several cryptocurrency companies have participated in various humanitarian projects to help hospitals and Covid-19 patients around the world. Here are 3 ways the crypto industry is fighting Covid-19:

Providing Technology Support

Speed ​​and accuracy are the keys to combating the Covid-19 attack. One of the important things that the medical team needs is access to information related to the Corona virus and data processing at the best capacity.

This is what encryption companies provide, namely loan processors with fast and large computing power to process data.

Call it CoreWeave, the largest Ethereum mining company in the United States. CoreWeave has loaned the processor (VGA) to the [email protected] Covid-19 research team at Stanford University.

The processor has the power of 6,000 GPUs and the research team will use it to create a computer network in an effort to find a cure for Covid-19 through simulating viral proteins.

Facilitate transactions without having to face to face

In the business world, we need a balance between supply and demand. Thanks to today’s blockchain-based marketplace, buyers and sellers can benefit from each other.

For example, as demand for masks and medical devices increased during the Covid-19 pandemic, IBM technology made it easier to track and utilize the supply of raw materials for the manufacturing process of medical devices.

The project called “IBM Rapid Supplier Connect Network” is a platform that brings buyers and suppliers together. When a buyer (medical manufacturing company) needs raw materials to produce medical products, he can consult the platform to get as detailed information as possible about the company that provides raw materials, including prices and product availability.

Therefore, the existence of IBM’s Rapid Supplier Connect network makes it easy for buyers to find suppliers who have proven their credibility during the Covid-19 pandemic.

Of course, this will create trade transparency and sufficient demand for other medical equipment raw materials, so that the distribution of medical equipment to hospitals will also not be disrupted.

In addition to the benefits of Blockchain technology for smooth supply and distribution, crypto networks are now increasingly being used in digital currency payment systems that also support online transactions globally.

Buyers and sellers can choose alternative payments via cryptocurrency for faster, commission-free and transparent transactions.

Doing a Fundraising

The Blockchain platform is currently one of the most widely used networks by companies to help charities. For example, the Italian Red Cross has used Bitcoin-based fundraising to help provide treatment centers for Covid-19 patients in Italy.

In addition, bitcoin-based fundraising for the future will be projected for bigger things, such as providing assistance in performing lung scans to patients who are predisposed to contracting Covid-19.

Fundraising activities through the crypto industry are very useful for anyone who wants to channel their assistance in the form of Bitcoin to the Italian Red Cross. Because Italy is one of the countries with the highest number of Covid-19 patients who died in Europe.

Through cryptocurrency-based fundraising, donors can also find out the flow of the use of these funds transparently; what and to whom the funds have been disbursed. This advantage is the hallmark of Blockchain technology which makes it quite popular to support various fundraising activities.

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