Much has been said about blockchain in the last years. Still, after some ups and downs in Bitcoin and some cases of Ethereum accounts being hacked, the subject started to lose its relevance. Initially, Bitcoin was considered digital gold; because of that, people began to explore it in various ways and pursue the dream of overnight fortune.
While most people were trying to get rich, some researchers and entrepreneurs saw an opportunity, not in the digital currency itself but in the technology that supports the digital coin.
In this article, I explain how it works and why this technology is revolutionary.
Looking at the world we are living in, this crisis changed everything around us, and specialists say that this is the worst crisis in a long time, worse than in 2008. All crisis brings the best, and the worst from humanity, this one is no exception.
Looking to the bright side, we have a massive capacity to exchange information; however, we are still far away from doing it effectively. We’ve seen universities and research institutes sharing information as we have never seen before. Yet, the data is spread and hard to query and use it to its full potential.
Imagine if we could query a place where we have all the research being conducted around COVID-19, and we could contribute without interfering in Copywrite and intellectual property issues. Or, if we could, anonymously, share health-related information about all the patients to better understand how the virus spreads, affects the body, and use it to research for a cure. It would be amazing, wouldn’t it?
That’s where blockchain comes in to play. A blockchain is a powerful technology to manage distributed resources amongst different organizations securely without an intermediator. We could create a shared database with all research around COVID-19 and have the whole world collaborating to find the cure. Moreover, share anonymized patient’s data and use it as input to research vaccines, detection tests, and much more.
This is how technology should be used to solve real-world problems!
In the next posts, we will build our own blockchain and test the ideas we discussed above.
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