Crypto News

China Turns to Blockchain As Coronavirus Spins Out of Control

China Turns to Blockchain 

With 65,000 people infected with the coronavirus and more than 1,400 fatalities in China, many basic medical supplies are scarce. To improve donation efficiency amid the crisis, Chinese startup Hyperchain has launched a blockchain-based solution.

Scandals and Chaos Surround the Coronavirus
According to the South China Morning Post (SCMP), there has been a series of scandals in China regarding public donations since the coronavirus broke out. 
These have served to shake peoples’ confidence in how their funds are being distributed by state-backed charity organizations. They have also provoked outrage as hospitals report a shortage of face masks for front-line staff treating infected patients.
On Feb 1, the Red Cross Society of Hubei issued a statement on its website. It said that the organization was deeply distressed, felt guilty, and “blamed themselves” for the problems associated with the distribution of donated materials.
In fact, their poor management of the situation led to the removal of a Red Cross Society official in Hubei on Feb 4 for “dereliction of duty in the fight against the novel coronavirus epidemic.”
Blockchain Tech to Help Coronavirus Victims
In a bid to combat this, Chinese blockchain startup Hyperchain backed by the China Xiong’an Group has developed a blockchain-based donation tracking platform called Shanzong. Launched on Monday, it had already recorded 500 donations as of yesterday.  
Doners can track their donations at every stage and see when their money is matched to the needed medical equipment. Some of the donors so far include the Yuegou Living Supermarket and the New Sunshine Charity Foundation.
Among the recipients are the Jiayu People’s Hospital, the Tongshan People’s Hospital, and Xiantao No. 1 People’s Hospital in Hubei. All these are facilities directly fighting to treat people infected with the coronavirus. Hyperchain said in a statement:
Shanzong guarantees the authenticity of donation information by putting it on the blockchain, which then cannot be changed or deleted… This is the biggest difference [with traditional charitable donations].
The Rise of Emerging Tech in China
Chinese President Xi Jinping caused the cryptocurrency markets to soar when he came out in support of blockchain technology in 2019, pledging greater funding and research in China.

A drone based infrared thermal imaging scanner deployed in the quarantined residential (the video said is under testing)
Epidemic and war are the two major drivers push what seemly surreal/peripheral techologies into a mainstream, as always
— Dovey 以德服人 Wan 🪐🦖 (@DoveyWan) February 14, 2020

The coronavirus outbreak is now showing authorities practical cases in which blockchain can be used, beyond the supply chain or improving local government efficiencies. 
The disease epidemic has also given a push to other emerging technologies, including AI and drones, as the Chinese authorities scramble to better detect and diagnose the deadly virus.
AI pioneers Baidu and Megvii have developed advanced temperature screening tools for major Beijing railway stations, while autonomous robots are replacing human cleaners in infected wards. 
Authorities are also using drones in some remote parts of the country to ensure that citizens are using facemasks.
Do you think Hyperchain’s platform will assist China in tackling the coronavirus? Add your thoughts below!

Images via Shutterstock, Twitter @Doveywan

Related Crypto News

Here’s Why Bitcoin’s Bullish Monthly Close Isn’t Enough to Thwart a Massive Selloff
Following Bitcoin’s bout of consolidation within the mid-$6,000 region, the benchmark cryptocurrency has seen a slight decline that has...
Film Reels and Steel: Github Plans to Archive Bitcoin Code for 1,000 Years
The Microsoft subsidiary, Github recently revealed the “Archive Program,” an initiative that aims to preserve open source technologies for...
XRP Falls Behind Bitcoin SV, Dogecoin in Active Addresses
Evidence suggesting a change in investor behavior continues to grow as XRP and a handful of other projects see...
Is Litecoin Leading the Crypto Market Back Toward 2015 Prices?
Litecoin is known for often being among the first altcoins to begin to see growth or decline after a...
OKEx to Host 11th IEO Amid Crypto Bear Market
OKEx has announced its 11th exchange-based token sale coming soon on the Jumpstart platform. With the crypto market still...
Bitcoin Closes Q1 With Historic Darth Maul Candle: Here’s What it Means
Bitcoin price had one of its most volatile months yet, resulting in a massive, $6,000 long “Darth Maul” candle...

Featured Crypto News

Do or Die For Bitcoin Bulls: Here’s What Could Trigger A Strong Rally
Bitcoin is slowly rising and trading above the $6,750 level against the US Dollar. BTC price must claim the...
Bitcoin Hashrate Down 45% – Miners Witness Second-Largest Difficulty Drop in History
Bitcoin’s hashrate has plummeted 45% since the record-breaking levels it saw on Feb. 29. The hashrate touched an all-time...
Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back
Ethereum is still facing a strong resistance near the $142 and $144 levels against the US Dollar. A successful...
Chances Are, Bitcoin Will Soon Explode 20% Higher to $8,000: Here’s Why
Despite the brutal crash seen earlier this month, Bitcoin has performed extremely well over the past few days, rallying...
4 Virtual Crypto Conferences You Can Attend From Home
The crypto industry has had to quickly adapt to the escalating coronavirus pandemic, with major conferences postponed, canceled or...
Here’s Why Bitcoin’s 15% Rally Could Fail Near The Key $6,500 Barrier
Bitcoin is up more than 15% and it broke the $6,000 resistance against the US Dollar. However, BTC price...