Covid-19 Is Not A Pause For Blockchain

Nurul Zamrè

April 17, 2020

Covid-19 Is Not A Pause For Blockchain

Ever since the outbreak of coronavirus (Covid-19), it has become a real deal of change in various industries, specifically in the supply chain. Digital transformation took place as everyone started to be online, validating information to sharing data and concerns from the disruption of the supply chain industry. Despite all of the drastic changes that the community is facing, we shall not neglect the prominence of the future technologies in keeping everything stabilised, from data and information to the verification and identification process. 

Artificial Intelligence (AI) to Blockchain technologies have been talked up in the past years, and as we delve into a new spectrum of challenges and battle of the odds, ABR is here to dig into the story from the start to future invention(s), solely in the supply chain side.

The World of Supply and Demand Sources Come Together, Stronger!

It is not a stop sign for us all when we cannot identify the exact identification of sources that we have on any product we have established or purchased. The struggle for this challenge is that, to maintain the supply chain demand by providing a reliable supply of sources that are authentic and cannot be easily altered by anyone in the system. There are tools and moulds that can easily pass the mass production process. However, in order to get a final gisp of a service to a product, Blockchain creates a responsible and authoritative demand for any industry to adapt.

We are talking about reliable designs and parts for technically designed products and services. This creates a huge demand for the consumers because of the tireless work and hours of effort being factored in to finalise a product or a design. With the future of technology being adopted, records are there to see and no one can ever modify or delete anything that has been given in the digital chain of permanently visible blocks.

Dismiss The Counterfeits With A Click

From huge brands like Gucci or independent ones, everything can be easily manipulated and copied. The fun of doing such activity is when it can be doubled up, apparently and the value of the fakery decreases despite it laminating the name of which it does not own in the first place. 

This further equipped us to look into medium to smaller-owned brands who are doing the more or less to protect the whole branding and items from being distributed across the nation. It is vital for privately-owned companies to make that effort to keep a good image and protect their goods. However; at times, it is almost impossible to track and validate the whole data that they receive from anyone that has encountered it. 

The Power of Trust Is Phenomenal 

From when we were able to start walking at the age of adolescence, we began trusting our capabilities of being able to function and doing things like the rest of human civilisation. From learning how to walk, how to read, how to cook and more as we grow. We learned that trust is a huge factor that leads to where everything results.

As the usage of Blockchain technology is being adapted into the system, it will be able to minimise the rate of inflation as well as protecting the goods and services that the whole nation has built since the beginning of time. This way, reimbursement is done in the most reliable, yet accurate way to defeat the faults in the supply chain system.

From panic buying, to the lack of trust and transparency, it is all immensely defeated at all costs. To begin getting ahead with the technology, it is a no brainer. Basically, one needs to know the importance of the technology prior to investing in it, and to understand how it can assist them from data alignment to preventing financial crises or threats in the whole business ecosystem of the entity.

Alas, with the future of technology, not only that everything is traceable, but it is validated in terms of authenticity and everything can be protected in a single platform of information. Once the whole thing is being presented, no one can make a fuss. Thus, the brands can enjoy an unprecedented level of security in a reimagined ecosystem for all.

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About the author
Nurul Zamrè

Senior Content Writer

Nurul Zamrè is an ardent writer for the past 15 years of her living tenure on science & technology, agriculture, health, communities, management and more. She is also a News Anchor at RTM, a general manager of AHVN, a model, VO artist, emcee, gymnast, ballerina and a lover of everything chocolates.

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