Coronavirus (0.1 μm) vs. Red Blood Cell (10 μm)
A microscopic nuisance that is typically 1/100th of a red blood cell mutated into a disturbance that rocked the world.
Covid-19 became a global pandemic at the beginning of 2020. The question remains, how many lives remain in danger even if the virus has already been successfully contained?
Supply chains and decentralized ledger technology (DLT) will matter in the months ahead. Please pay particular attention to the term decentralized as this is a key factor likely to be absent from popular emerging solutions that use the term blockchain.
If the following report is accurate:
Each infected cell can release millions of copies of the virus before the cell finally breaks down and dies."- New York Times
Then it's easy to understand how a sluggish immune system can be easily overwhelmed.
Supply Chains
Once a vaccine (and/or reasonable treatment) has been found that can save those infected, economic matters will take precedence. We are already witnessing organizations shift their focus toward supply chains. Prior to the pandemic, such deliberations often remained in the backdrop of economic discourse.
Two influential projects that promise to reshape global supply chains include those pursued by IBM and China.
IBM's Rapid Supply via Blockchain
On April 27th, IBM held a press release entitled:
“IBM Helping to Battle COVID-19 Medical Supply Chain Shortages with the Launch of IBM Rapid Supplier Connect” - Newsroom.IBM
This is an IBM Blockchain Solution for supply chains. Notice that IBM (and Amazon for that matter) shy away from the term blockchain when providing public notification. Enterprise marketing is another matter.
China Works toward a Digital Currency Based on Blockchain
On April 20th, China’s National Development and Reform Commission (NDRC) announced to reporters the successful testing of its blockchain solution to manage information flows. This was not a surprise as the test had been ongoing for months. Concerns center around security, effectiveness, and efficiency.
A Chinese blockchain-based digital currency has been discussed for deployment within the coming year. The United States Federal Reserve has already made public its blockchain project referred to by Reuters as Fedcoin.
Other big players in the blockchain space are Amazon Managed Blockchain and Alibaba's Blockchain-as-a-Service. Allow me to reiterate that centralized ledger technology was never the intent of the systems that lead to the creation of blockchain. Nevertheless, large organizations have found much of the innovation to be a substantial improvement over what they had previously been doing.
Economic Upturn
(broad overview)
Prior to the virus, few would have refuted that the modern economy was humming away. Not everyone was prospering. There were many things wrong with the world. Still, when discussions centered around the economy, many harbored a sense of hope.
The virus has many financial experts worried about the economy. Unemployment rates are among the most glaring concerns. What economists refrain from discussing is how tough it can be to slow the momentum of a failing economy. Inertia, even when an economy has strong fundamentals, can gravitate toward tragic outcomes.
These issues are but a few that justify economic stimulus. Below is an overview of the current state of aid for the American economy.
Politicians have already discussed longer term citizen stimulus:
- https://www.forbes.com/sites/shaharziv/2020/04/28/a-glimmer-of-hope-for-a-second-stimulus-check/#4ee39f20320a
- https://money.com/second-stimulus-check-coronavirus/
- https://www.debt.org/2020/04/28/second-stimulus-check/
Fueled by the election year, Bible Money Matters cited the ‘no brainer’ argument that a second stimulus is on its way:
- https://www.biblemoneymatters.com/a-second-stimulus-check-is-it-on-the-way-and-is-it-even-a-good-idea/
Relief for homeowners and renters are on the minds of regulators:
- https://www.fhfa.gov/Homeownersbuyer/MortgageAssistance/Pages/Coronavirus-Assistance-Information.aspx
- https://consumerfinance.gov/coronavirus
Small businesses grabbed what was recently made available to them so quickly that some companies even returned stimulus loans:
- https://www.uschamber.com/co/small-business-coronavirus
- https://www.marketwatch.com/story/here-are-the-public-companies-that-got-coronavirus-aid-meant-for-small-businesses-2020-04-22
Large corporations will be at the center of economic recovery. JUST Capital even put together a Response Tracker to monitor the largest companies:
- https://justcapital.com/reports/the-covid-19-corporate-response-tracker-how-americas-largest-employers-are-treating-stakeholders-amid-the-coronavirus-crisis/