03-30-2020, 18:32

REINFORCING THE GLOBAL SUPPLY CHAIN AND IMPLEMENTING DIGITAL CURRENCIES IN RESPONSE TO COVID-19

In light of recent events caused by the global spread of the Coronavirus, INATBA, an association that provides a global platform for developers and users to interact with regulators and policymakers so as to take block chain technology to the next level, are taking a proactive approach in response. INATBA has joined the World Economic Forum’s COVID Action Platform and is participating in weekly update calls in which the World Health Organization discusses its requests to the private sector.

As part of this, INATBA has formed a small rapid action team led by the chairs of our Healthcare Working Group who have identified two key areas INATBA can contribute in an impactful manner.

The first area of interest is the global supply chain in different industries, which has been put under tremendous strain due to the spread of the novel Corona Virus. To help alleviate this strain, the INATBA will contribute to the WEF COVID platform with block chain-based supply chain solutions to enhance the availability and accessibility of strategic commodities and equipment, more so in countries heavily impacted by COVID-19.

Secondly, digital currencies can play a pivotal role in supporting mechanisms for business donations and contributions to the public health response. Therefore, INATBA aims to offer solutions that support the concept of a digital wallet for donations to the WHO.

As such, the rapid action team will organise a roundtable to review submissions of assistance and identify the most suitable solutions. This will be based on three main criteria:

  1. The readiness of the solution. The urgency of the matter calls for a market-ready solution which can be immediately deployed.
  2. The scalability of the solution. The solution should be easily adaptable on a large cross-border scale as it is a global problem we are facing.
  3. The degree to which the solution can work independently. The solution should be ready to deploy with the fewest third party dependencies as possible.

INATBA is unable to guarantee that either the WEF or WHO will accept the suggestions and contributions but feel strongly that the current global pandemic calls for proactive and well-intentioned actions from all of us.

For more information about the Healthcare WG’s thoughts on the role block chain can play in helping combat COVID-19, click here.

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