Blockchain could save the dead.

by Pratik Bajaj

Do not, do not let central banks, governments or the greatest investor of all time (you know who) tell you that Bitcoin is a scam. It isn’t. However a volatile asset, it’s a symbol of a movement against the powerful who often use their powers to their advantage.

More we get sucked into the corono-crisis, higher gets my reverence for Bitcoin & its mythical inventor, Satoshi Nakamoto. Blockchain is the underlying technology that he invented during the process of creating Bitcoin, a cryptocurrency that would decentralize powers out-of-the-hands of institutions who miserably failed to keep a check on events that led to the 2008-Financial crisis. It was one of the cleverest steps to wage a war against the failing establishments.

We are into a medical crisis right now & blockchain, had it been implemented, could have saved millions of lives. A publicly distributed ledger could have helped drug makers, distributors, equipment manufacturers, hospitals & patients to be on the same platform & search for their dependencies in far lesser time & with far more accuracy.

Blockchain can hold a growing list of unalterable records with a timestamp. We could know the number of beds, oxygen concentrators, availability of life saving drugs, their time & place & a lot more through a secure peer-to-peer network adhering to a protocol to communicate & validate every new information that comes in.

In 2014, Blockchain technology was separated from the currency and its other potential were explored. Blockchain 2.0 was born. But what did we do with it? We had years to use the tech to our advantage but they let us fight and gain and lose over cryptocurrency. We need blockchain now more than ever, in places farther than ever. Not only to grow but also survive.

P.S.: This article is an excerpt from our podcast “Unfiltered finance” where we cover finance, business, start-ups and a lot of psychology behind them.