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A study group formed to examine the impact of the COVID-19 pandemic on IT companies in the United States has recommended blockchain technology as a solution. The study group believes that the technology can give these companies real-time visibility into their supply chains.
The study group was formed by the US Cybersecurity & Infrastructure Security Agency (CISA), an agency whose mandate is to improve cybersecurity at all levels of government. It was formed in 2018 by the Trump administration and falls under the supervision of Homeland Security.
In its report titled “Building a More Resilient ICT Supply Chain: Lessons Learned During the COVID-19 Pandemic”, the study group identified 3 key issues that impacted ICT supply chains following the COVID-19 pandemic . They include the need to diversify supply chains away from single sources, lean inventory models oriented towards cost efficiency and a lack of understanding along supply chains.
In its recommendations, the group cited blockchain as one of the technologies that can provide real-time visibility into logistics and supply chains. The group noted that the pandemic had affected almost all means of transport.
For the ICT sector, companies must be prepared for such scenarios “and map the alternatives that can allow to restore the supply chain in the most efficient way possible. To further assist in these efforts, companies can use technology platforms that provide real-time blockchain visibility into available logistics capacity. Companies can also study logistics models to identify alternative suppliers for each key path. “
The COVID-19 pandemic has continued to raise the profile of blockchain technology as a solution to many of the challenges most countries currently face. Many governments are already using the technology to offer transparent, real-time access to medical resources, economic incentives and more.
China has used blockchain to fight the pandemic. As reported recently by CoinGeek, blockchain has played a vital role in the resurgence of cross-border tourism between Macau and mainland China. Macau’s blockchain-based medical record platform processed health data for 17 million people in its first month of operation.
See also: CoinGeek Live Presentation, Clean Data: Clinical Research Integrity and Data Hygiene Using Bitcoin SV
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