17 Jun What new ways of thinking, planning & innovating can we embrace after COVID-19?
The profound impact on lives, businesses, and the economy of the global pandemic has dominated world news in every corner of the globe, daily since January. This novel coronavirus and COVID-19 disease have spiralled life as we know it into one of fear, at times seething political rage and a new normality of lockdown and social distancing. Apart from the human loss and social hardships, the OECD is forecasting that the UK could experience a slump of 11.5% in GDP – one of the greatest in the developed world as a result of the crisis. Many others very close to the same. However, as we start to emerge from the end of this battle, the important question we all need to ask is; what have we learned from this and how will this change the way we think, plan, innovate and prepare so that our business systems and lives can be resilient and work better? What are the possibilities and potentials we can create to turn this tide back?
Dubai amid turmoil delivered the first fully blockchain empowered government and in doing so removed 100 Million pieces of paper and savings of USD$1.5B. The potential to transform business systems and leapfrog infrastructure with blockchain which enables trust between users eliminates inefficiency and allowing the shifting of scarce resources which can enable solutions that previously were not thought to be possible. Blockchain proponents contend it will touch, if not disrupt, every major industry and will even alter the way that people and societies interact and travel.
This crisis has created a sense of mistrust between people and governments and goods and services offered by effected countries and industries causing global economies to suffer, experience nationalism, and racial tensions to arise. Yet blockchain is secure and is tamper-proof, trust-less, and offers transparency in all of these areas including supply chain which is currently affected most by the pandemic.
In the coming months, the use cases are plentiful to deliver solutions and how it can be applied across businesses and in some ways limited only to the extent of our innovative appetite.
- Smart Contracts to make processes autonomous
- Immutably Verified Certificates of ‘standard’ for value chains
- Traceable provenance in supply chain
- Elimination of false and misleading news and media
- Health Records
- Lifelong learning curation in education
- Submission of prescriptions and other health records
While the above is just a shortlist of how blockchain can help we must not forget the important ones. The sharing and protection of important and personalised data. Data recorded to our blockchain platform, for example, is verified upon entry and once anchored is secure and cannot be manipulated by any outside parties. It also allows for easy sharing and viewing globally which would help in future outbreaks whilst protecting it from misuse.
The use of blockchain could help in future pandemic situations across the world and multiple economies as it has the power to enable nations to efficiently share resources across the world in a unified and safe way. Our VDX solution is there to help advance blockchain solutions with simple integration features, and its API to connect with existing business software making the transition from the legacy of the ‘known way’ to the future normality, seamless.
Our business deployment experts are always happy to help with that first step and the hand-holding to get you there. Please contact us today for more information so that future resilience and growth becomes part of your planning.