How Blockchain Technology, can Aid to Combat the Spread of COVID-19
In the midst of the COVID-19 outbreak (coronavirus), individuals are facing major, unprecedented health and safety challenges. On the same token, businesses around the globe face existential challenges of their own. Not surprisingly, many businesses and individuals alike have turned to blockchain technology and cryptocurrencies to ease some of the challenges that have come with the widespread dissemination of COVID-19.
Many businesses and local governments in China, for example, have begun to deploy blockchain-based algorithms as to more efficiently and securely track medical supplies. Additionally, Chinese business and local government have deployed blockchain-based applications to ensure that business data is protected, as most citizens have been forced to work from home. Thus far, the most prominent use of blockchain technology in China has been in the shape of applications designed to track supply chains of essential healthcare materials and other materials that are helping to combat the spread of COVID-19. Within the first two weeks of February, as the virus spread throughout China at a remarkably high rate, some 20 plus blockchain-based applications were specifically designed and launched in an effort to help battle the spread of coronavirus, according to Cointelegraph and People’s Daily Online. The use of blockchain amongst businesses and local governments in China to more security and efficiently track and manage data, especially as it pertains to human safety, foreshadows the adoption of many more blockchain based applications elsewhere around the world, assuming COVID-19 continues to spread. And, with the deployment of blockchain-based applications comes the need for cryptocurrencies, which triggers the need for a safe and secure manner in which to send and receive digital currency. More on this need to use cryptocurrencies in a quick, easy, and frictionless fashion will follow in the following few sections.
For individuals, health and safety concerns arising out of this pandemic mandate the need to transition from physical currencies to digital currencies. One of the most important uses of cryptocurrencies will of course be as a primary means of sending and receiving equity, especially since countries all around the world have began to place an emphasis on restraint from touching and sharing commonplace objects such as credit cards and cash.
In light of these trends, and the global health implications of exchanging items like cash and credit cards by hand, it would benefit citizens to make a move to cryptocurrencies as a primary means for exchanging value. Doing so will be tough for those with limited or no experience with cryptocurrencies, but ultimately a step in the direction, as digital transactions will undoubtedly help prevent the spread of many cases of COVID-19, and in doing so save the lives of countless.
In light of this trend, many global citizens may look to cryptocurrencies for the first time, and they will undoubtedly experience various challenges and obstacles in doing so — especially if assuming they lack any prior experience or background knowledge of cryptocurrencies and the underlying blockchain technology. With that in mind, user’s will have a strong need for an intermediary that makes it easy to send and receive digital money without any confusion. As a result, software developers should push the limits of Blockchain technology to provide a more user friendly experience for global citizens to send and receive funds in a simple manner. This can allow Blockchain technology to play a major role in facilitating financial transactions during this time of global crisis and confusion.
With all that being said, there is still an undeniable steep learning curve for those who have yet to use cryptocurrencies or blockchain technology. That is why developers should take it upon themselves to introduce a completely new and revolutionary platform that makes it easy to transfer cryptocurrencies to anyone, anywhere, on the blockchain — with no need for previous knowledge or an understanding of the above mentioned technologies. Stibits’ is attempting to provide its unique algorithm and platform to add identity to the blockchain and leverage all of its cryptographic benefits, allowing for seamless and secure transactions — effectively eliminating the need for any centralized intermediaries and ensuring frictionless peer-to-peer transactions.
For those unfamiliar with the current state of sending and receiving cryptocurrencies: it is incredibly messy and confusing, with many third party providers that don’t really solve the issue of blockchain’s complexities and make it nearly impossible for entry level users to access the technology and use it properly. Stibits, however, has introduced a groundbreaking, revolutionary platform, through which users can easily transfer cryptocurrencies to anyone, anywhere, on the blockchain ledger. They do not need any previous knowledge or understanding of the technology, thanks to Stibits. Stibits’ revolutionary algorithm and platform makes it easy for anyone to send and receive cryptocurrency by adding identity to the blockchain ledger. More specifically, with Stibits users can (a) create an account easily and quickly; (b) add existing keys to your account, create a new one, or recover your old with using Stibits’ proprietary backup key words; © search for friends profiles on the platform using just their names, e-mails, or phone numbers.
And thus, Stibits is trying to position itself to help users in this unnerving and strange time. As COVID-19 continues to present businesses and individuals with health and safety concerns, Stibits will be there to help both businesses and individual users send and receive cryptocurrencies in the simplest and most secure manner possible.