Viewpoint | Blockchain-based fintech is a weapon for epidemic prevention

Source of this article: Financial Institute 1

Author: Lei Zheng Fu Rao (author worked in the New International Economic Research Institute)

An unexpected epidemic came suddenly, which not only imprisoned 1.4 billion people, but also highlighted the serious problems existing in social governance. Fortunately, with a height of one foot and a height of one foot, human beings are still capable of overcoming these difficulties, and fintech with blockchain as its main line will play an important role in epidemic prevention.

In the process of responding to the epidemic crisis, we have witnessed the actual level of smart city construction in various places. Objectively speaking, big data and artificial intelligence have played a role, but failed to form a complete closed-loop control system. The problems of separate islands of war and information, as well as the ineffective connection between systems, are relatively obvious. We believe that these problems reflect the lack of a backbone of the system, which should be the application of blockchain technology.

In the process of monitoring epidemics and treating patients, there is a lot of application space for smart big data platforms and epidemic prevention robots. The gap we need to fill is to make all the data of all key nodes on the chain, making full use of blockchain technology. Traceability and other features improve the accuracy and timeliness of information submission and open up all information islands. During this epidemic outbreak, severe lagging of the epidemic information occurred in some areas of Hubei, making it impossible to ascertain the scope of infection and suspected patients, and even some severely ill patients could not be treated. The epidemic situation could not be reached in time, misleading decision-making and delaying treatment Has caused huge losses in the lives and property of the masses. All regions should learn from it, learn lessons, strengthen the research on the application of blockchain technology, promote data sharing, optimize business processes, reduce operating costs, improve collaboration efficiency, build a trusted system, and greatly improve social governance capabilities and levels through blockchain technology. .

For the application scenarios of blockchain technology in various aspects of epidemic prevention and epidemic prevention, we have sorted out some areas with more mature products that can be effective quickly.

1. Traceability

Blockchain traces, traces, and monitors prices of equipment such as medical drugs, masks, and protective clothing; Blockchain is used in all links of charitable donations, especially the intermediate links of the foundation's official website, third-party persuasion platforms, and online transactions Application to improve process efficiency and transparency;

2. Prevention

Patient's personal medical history, on-chain tracking and prevention of diagnosis and treatment process; on the patient's side, the database on the blockchain can accurately and efficiently record every vital sign of the patient, all previous medications, every medical information, disease, surgery and other Information can greatly reduce the operating time, cost and risk of medical institutions, and at the same time achieve accurate strategy formulation, efficient resource utilization, targeted product docking and effective markets, etc., and improve the patient's medical experience. It will also make medical resources more efficient in emergency situations.

3. Supply chain

It can be applied in many areas such as customs declaration and customs clearance, inspection and quarantine, cross-border transportation, overseas warehousing, procurement and distribution. Blockchain technology is used for the deployment of materials (such as medical drugs and mask protective clothing) in epidemic areas under epidemic conditions, which can greatly alleviate risks such as delay, loss, damage, and fakes.

4. Information Management

Public opinion monitoring and rumor identification; public data sharing of epidemic situations and protection of personal privacy data. In the process of preventing and controlling the epidemic, the role of blockchain in disseminating data under the premise of protecting privacy has not been reflected. In fact, during this outbreak, operators, local public security departments, etc. used Excel to distribute related information without extensive consideration of personal privacy protection, which could have been solved with the help of blockchain technology. The role of the media in public health events is crucial. We can use consensus algorithms to make more quality content available and creators of high-quality content get more rights. At the same time, the use of the blockchain's survival of the fittest credit elimination mechanism will promptly announce problematic information nodes to help the public avoid rumors and misinformation and stabilize social sentiment.

Some of the above blockchain technology application concepts have already been applied. For example, Alibaba Health and the Changning Tianning District Health and Family Planning Commission launched the "Medical Alliance + Blockchain" pilot in 2017. The city's Health and Family Planning Commission logs data information generated by various medical institutions into the blockchain to ensure that each piece of data from each data provider is credible and cannot be tampered with, and avoids the formation of "data islands" of hospital data through the data sharing reciprocity mechanism, forming benefits The symbiosis ring can also accurately locate the entire flow of medical sensitive data. Imagine that if such data can be circulated throughout the country, the chaotic scene of hospitals fighting for and collecting donations may be alleviated when the epidemic comes. But so far, no feedback has been seen, and no widespread promotion has been seen, indicating that there is still much work to be done in the application of blockchain technology.

New crown virus has not yet found a specific drug, and the vaccine also needs time to develop. Due to the strong transmission of the virus, despite the inflection point and initial signs of control, there is still a great opportunity for a rebound, or even a chance of infection from abroad. The outstanding contradiction we face is that we must strictly prevent and fight epidemic disease, and at the same time, we must speed up the restoration of production. In order to solve the worries of resuming production and resuming production, we recommend that the government take the lead in enterprises and insurance companies to launch the "comprehensive insurance for resuming production and reinstatement of epidemic prevention and control" as soon as possible, combining this emergency strategy with the medium- and long-term strategy to accelerate the application of blockchain technology Get up and build a robust and reliable system for epidemic prevention and economic development throughout the society.