A Good Example of Blockchain Use in Taiwan

The spread of the Coronavirus poses problems for the whole world. Taiwan recognizes blockchain opportunities in the fight against the virus.

A Good Example of Blockchain Use in Taiwan

Taiwan is currently demonstrating how everyday the blockchain can be. The technology is rich in "use cases", particularly in crises in which supply chains have to function seamlessly and comprehensibly. First approaches to applying the technology, such as those used for Bitcoin and Ethereum used in connection with the spread of the Coronavirus were announced in the middle of last month. Blockchain in the Asian country is now increasingly helping to clearly and strictly regulate the distribution of the sought-after face mask. The company FiO is involved, which is known for its work based on the “Hyberledger Fabric” technology. As is well known, the hysteria surrounding the virus not only in Asia has led to a dramatic rise in prices for the all-important mouthguard.

Private blockchain company offered help itself

The victims in this area are medical professionals who lack important work accessories, which is increasingly causing problems in the care of infected people around the world. Taiwan uses a blockchain system to guarantee a transparent supply of protective masks. The fact that the Taiwanese authorities are working with the blockchain service provider FiO shows once again the openness of the private crypto and blockchain industry. The responsible state institutions have launched two new projects to fight the complications of the distribution and problems due to the lack of personnel. The aim of the campaign is for every citizen to receive a maximum of two masks a week, which is noted when the insurance card is presented in the responsible pharmacies within the tracking system.

Blockchain can solve global problems

By the way, the FiO experts did not have to be asked to cooperate, it is voluntary participation on their own initiative. The underlying distribution system was also programmed in cooperation with the country's Google Developers Group. FiO would also like to implement further ideas to further reduce the technical effort in the system and the costs. The technology of the system was able to prove itself in terms of efficiency. Similar systems are to be launched in other countries in Asia such as Singapore. 

The experts once again demonstrate that cryptocurrencies are only a part of the crypto market. The technology behind could open up new opportunities in many ways.