Toronto, CANADA; April 7, 2020 – The Blockchain Research Institute (BRI) today made public its recommendations for a five-point “framework for action,” to guide blockchain applications in pandemic response or preparation. The framework emerged as part of a comprehensive research project, led by BRI co-founders Don and Alex Tapscott, exploring the role blockchain technology can play in mitigating the impact of global pandemics.
The project’s findings are based on insights shared during a March 26th roundtable discussion in which over 30 world leaders in technology, healthcare, economics, manufacturing, and supply chain management, from five continents, identified key opportunities for blockchain technology in improving the immediate response and in helping to prepare for avoid such crises in the future. The project has been made available to the public here.
Based on these insights and research into existing use-cases, the project recommends a five-point framework for action. This framework identifies the key applications in which private and public sector innovators could deploy blockchain in response to, or preparation for, public health crises:
- Self-sovereign identity, health records, and shared data, providing healthcare providers and policy-makers with detailed digital public health data, without compromising the privacy or security of individuals
- Supply chain solutions, offering certificates of authenticity and digital records of provenance for sensitive or in-demand medical equipment in times of crisis
- Economic sustenance, in which decentralized governance models and more frictionless payment solutions can help expedite the distribution of crucial resources in times of economic turmoil
- A blockchain-based rapid response strategy for medical professionals, providing a more efficient certification process for onboarding and mobilizing additional healthcare workers in times when resources are stretched
- Blockchain-based incentive models to reward responsible behaviour, establishing monetary incentives for behaviour that benefits the public good in times of health crisis, based on applications piloted by Blockchain Research Institute member Interac
“Our research, and the insights shared during our roundtable, indicates that this crisis has been exacerbated by issues surrounding data, transparency, security, and trust,” said Don Tapscott, co-founder of the Blockchain Research Institute . “Blockchain technology is particularly well-suited to addressing these shortcomings, and as such holds enormous potential.”
Both the roundtable and research project, released today, are part of the Blockchain Research Institute ’s broader initiative to double down on digital-based deliverables. The BRI will additionally host a weekly webinar series for the month of April, breaking down the various blockchain applications which could mitigate the medical, social, and economic impact of pandemics such as the COVID-19 crisis.
About the BRI:
The Blockchain Research Institute (BRI) is an independent, global think-tank dedicated to inspiring and preparing private- and public-sector leaders to be the catalysts of the blockchain transformation. Funded by international corporations and government agencies, the BRI brings together the world’s leading thinkers to undertake ground-breaking research on the strategic implications of blockchain technology, producing practical insights to help its member organizations succeed.
The Institute has 100+ research projects underway in the areas of financial services, manufacturing, retail, energy and resources, technology/media, healthcare and government; as well as how this nascent technology is changing the way companies are managed. To complement the research, the BRI offers a suite of services to its members, including monthly webinars, executive briefings, all-member summits, and other exclusive activities.
The Blockchain Research Institute is based in Toronto, Canada, and was founded in 2017 by Don and Alex Tapscott, the co-authors of the best-selling book Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World.
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