Vlockchain technology since its inception, with the arrival of Bitcoin in 2009, has been an impossible storm to stop. But, this growth, although unstoppable, was very slow, until the Coronavirus appeared. Therefore, COVID-19 could have been a blessing for the Blockchain.
At the beginning of its history, the Blockchain technology did not have a name of its own. Whenever the Blockchain sector was mentioned at symposiums, it was immediately accompanied by the words cryptomon and Bitcoin.
This caused problems in these early days, as crypto currencies had gained a negative connotation thanks to the Silk Road, a situation that still plagues the crypto currency world.
But, in recent times, this seems to be a thing of the past. For the
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technology sector has created its own name out of the shadow of the crypto coin. Although still inseparable, the world seems to have noticed the benefits of this technology, without the need for crypto currencies to be presented as Bitcoin.
In this content we will briefly discuss the impact that COVID-19 has had on the Blockchain sector.
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And then, the Coronavirus arrived
By the end of 2019, rumors were already being heard about a flu that was causing problems in Wuhan, China 🇨 🇳. But it was not until the early months of 2020 that panic consumed us all.
The COVID-19 pandemic was already our neighbor and we didn’t notice it. Working from our homes, quarantines, home services of all kinds, online education. This brought with it a host of problems, which were not the norm for most of the world’s population.
We did not know, and do not know, precisely where our delivery man is, if the food I have brought home has passed the health regulations. Problems with teachers teaching online, problems with setting up our offices in our homes. All because of fear of COVID-19.
These kinds of problems brought by COVID-19 may have been the best thing that ever happened to the Blockchain industry. The Blockchain technology has a lot to offer, and the COVID-19 focus can increase its adoption in various industries.
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The COVID-19 and the Blockchain
The first obvious use case for Blockchain technology is to improve the supply chain. Some will already say that all the benefits that the Blockchain would bring are being discussed for years. And even, there are already big companies investing in this.
But the COVID-19 is undoubtedly the strongest use case so far for the Blockchain. Because people who didn’t understand before have had to do it the wrong way in this pandemic.
In fact, even the World Economic Forum (WEF) is seeking to promote the development of a global supply chain based on Blockchain thanks to COVID-19.