Opinion | Five ways in which blockchain technology can aid a recovery

My favourite tweet on blockchain goes something like this: “Blockchain is the answer, now tell me the question?” Fuelled by the unceasing hype around Bitcoin and cryptocurrency, blockchain has been regarded as the silver bullet solution for everything—hacking, threats to democracy, poverty and world hunger. No wonder then, that the moment the covid outbreak became a pandemic with its ensuing lockdowns, blockchain started to be bandied about as the cure that could miraculously bring the world back up on its feet.

While it is apparent that no one technology can “solve” a pandemic, blockchain, along with a slew of others, could definitely help manage the post-lockdown situation. Taking a clear-eyed view, here are five ways in which it could help mitigate the covid crisis.

Building more resilient supply chains: Perhaps the biggest blow to industry and agriculture has been the abrupt disruption of supply chains, making it hard to get raw material to factories and finished goods to customers.