How blockchain could bolster the economy following COVID-19 according to the world economic forum

• A report which delved into how the deployment of blockchain could address the efficiencies that have been exposed since COVID-19 was released this week.
• The world economic forum released a blockchain toolkit intended to help the government in changing their supply chains to adapt. 

A report was recently published by the world economic forum which delved into how the deployment of a blockchain-based solution could address the supply chain efficiencies and failures that have been so clearly exposed since the pandemic of COVID-19 spread throughout the world.

The economic forum also released a blockchain deployment toolkit which was intended to help the government and many small businesses in changing their supply chains to adapt to the new economic climate. Furthermore, this toolkit will help the economy rebound following the crisis of coronavirus.

Published earlier this week on the 28th of April, the report looks into the strong response of private and public supply chains which have been tested during this outbreak. Most notably, supply chains of pharmaceutical and medical products/supplies are the ones that have been hit the hardest during these uncertain times.

On top of this, the report makes the point that the efficiency of supply chains heavily relies on transparency and makes an attempt to further plug blockchain amongst these supply chain stakeholders.

Following the development of the other mentioned tool kit, contributions from more than 100 public and private sector bodies got involved. Speaking on the blockchain deployment toolkit is the world economic forum is Nadia Hewett who said the following:

“The blockchain deployment toolkit is essential for designing solutions that work for a multitude of actors, including smaller players who may not have access to the resources required to unlock the value of blockchain technology.”

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!