Feb 18, 2020 06:00 UTC
Feb 18, 2020 at 06:00 UTC
Corona not stopping China from Crypto development!
There are a lot of ways in which you can know the maximum utilization of technology. That kind of situation arises especially during emergencies and situations that are out of our hands. Many of the people who are updated about the day to day happenings of the world are sure to be aware of the wild and most horrid epidemic of all time, the coronavirus.
The epidemic is not stopping China!
The epidemic that has been tormenting China and many other Asian countries are rising to a very large scale. This, in turn, is affecting and inflicting damage on a whole new level in terms of mankind and finances.
The Epidemic has been biting into the financial stock exchange of China as many business are hit as the market of China remains closed to stop the spread of the virus. However the Chinese are now relying upon blockchain technology to get the most of their financial accounts and also they are using blockchain technology to get the transactions done.
As a part of the implementation process, many of the decentralized applications that are working on the basis of the blockchain technology are being used to maintain data that is crucial to control the outbreak. According to the sources, these applications are collecting data of the citizens to have a record of all the citizens who are affected and those who are not. With this crucial data, the government can address immediate remedies to the place where it is ground zero for the virus.
That is not all, the technology is also being used to maintain health records as well. These technological applications are helping doctors to have a track of the patients and also help them filter out possible infected beings.
There are also a lot of different methodologies that are being implemented to make sure that the outbreak is suppressed. Many of the services that the blockchain-powered applications are providing include notifying people of the potential places where they can have access to relief materials as well.
These moves by the Chinese government seems to be working out in keeping the disease under control. This will also greatly benefit the growth and credibility of the technology that will surely go a long way from now. It is also rumored that the transactions for buying commodities are compulsorily digital to make sure that there is no further spread of the virus through banknotes as well.