NEO Smart Economy tweeted: “Our hearts are with those affected by the #CoronavirusOutbreak. As the situation develops, many social issues have surfaced and posed challenges for billions of people. How could #blockchain help?

Sydney Ifergan, the Crypto Expert, tweeted:  “NEO Insights on how blockchain can help in social issues after the coronavirus outbreak is noteworthy. I particularly consider the authenticity of information essential in the process.”

Enterprise-level applications based on blockchain technology has made the supply chain information more traceable and secure.  With dApps for the supply chain, consumers can track the origin of the product to pay the appropriate price. Consumers develop more confidence in the product.  They channel more resources and efforts to channel real-world problems that need to be solved.

With the outbreak of Coronavirus, there is an increase in the demand for medical supplies like masks and antiseptic products. However, at this point, some online retailers are taking advantage of the situation to sell fake products.  There has been an eventual increase in everyday prices.

NEO Smart Economy Insights for Improving Public Confidence in Donations

Quarantine measures are at an all-time high after the outbreak of Coronavirus. The travel and contract history of the affected people are studied to avoid further spreading of the virus.  The complexity of the traffic flows, the manual workload, the lack of data synchronization, data privacy, and a range of other factors have made it challenging to produce a clear and complete track record.

A lot of money and medical resources in the form of donations are coming into the Coronavirus affected the Wuhan region. However, the resource distribution process is done in a centralized way, and the hospitals are asking for more help.

Direct donation paths have been established between the WeChat group and specific hospitals, which resembles the decentralized behavior of the blockchain network. A blockchain solution can is effectively used to streamline the donation process.  An on-chain resource donation and tracking system will remove the non-transparency in the process, further removing the ambiguity establishing public confidence in the system.

NEO Insights on Authenticity of Information about CoronaVirus

Several rumors are circulating on social media, causing a public panic.  Pets are likely to host the virus.  Disinfectants are dispensed in the air, making food toxic. NEO blockchain technology can be used to avoid inconsistent reporting between official, media, and social network channels.

Further, concerning the developments at the NEO Smart Economy in the developer ecosystem, NEO News tweeted:  “Neow3j (@neow3j) spoke to NNT about its Neo3 development plan for 2020, including a new compiler to improve the support for Java smart contracts on $NEO. The team also expressed interested in developing a plugin for javac, the primary Java compiler.”