Blockchain and The Day After

Of the many teachings that the current pandemic brings us, one, in particular, stands out. As Dr. House always said: Everybody lies! We suspect or discover, that they deceived us with the origin of the virus, with its alleged banality and contagiousness, and that they mislead us with the figures of people affected and deaths, and with the availability and authenticity of protection elements and diagnostic tests.

If the distrust in financial institutions due to the 2008 crisis was answered with the development of cryptocurrencies (whose impact they also deceive us by belittling them), we will emerge from this crisis with a pandemic mistrust. The way out of the current chaos will understandably lead us to doubt everything:

• When can we recover social relationships?
• If those who were not infected can be caught up by the new encounters.
• Of the viability and integrity of certain suppliers.
• Whether the many job-seeking professionals have the skills they claim to possess.
• The origin of food and consumer products and their safety.
• On the efficacy and authenticity of diagnostic tests and medications …

The “new normal” of business and markets will have to be supported by innovations that respond to the new demands of consumers and users. Among them, Blockchain technology is called to have an extraordinary role, both in its current form and in new developments such as the “Blockchain of Things“.

We are witnessing deception in the nature of products and the tampering of supply chains. Current authenticity management systems have been able to bewilder governments and certification bodies. Future operations must be characterized by transparency, the elimination of risks, agility in decision-making and delivery of products and services, and the individual knowledge of each consumer and their demands.

At BlockTac we are convinced that the initial skepticism regarding Blockchain technology, caused by poor knowledge and limited exposure of its applications, will be replaced by the interest in discovering how it may respond to the challenges posed above.

The innovative solutions to be proposed, to be immediately successful, will have to meet certain features, conditioned by the restricted liquidity and the demand for a rapid restoration:

• A limited or no investment in infrastructure.
• Low costs.
• Agile and fast implementation.
• Complete and distinct information on each unit of product or service.
• Allow direct communication with the consumer or user.
• And come from a vendor that has passed due diligence.

We, at BlockTac, are already prepared to attend the organizations that will lead the recovery.