Industries that could use a blockchain boost amid the global pandemic

The coronavirus pandemic has already become a watershed moment for most companies and countries. It has shown that there’s a need to rethink the way things are done and how people live their lives. For companies, this restrategizing could lead to one primary truth – it’s time to get blockchain into processes.

Without much ado, here are some of the top industries where blockchain is primed to help optimize operations and keep people safe amid the pandemic

Digital Payments and Commerce

One of the central themes of the pandemic has been the fact that there is a significant need for more effective payments. Fiat currencies don’t work as well anymore, as they have the propensity to become conduits for the virus itself. One person with the virus can easily pass it around through money, infecting people along the way and causing issues with many others, whether they’re aware of it or not.

When the pandemic was in full swing, one of the many areas where people kept cautioning was with improving digital payments. PayPal, Square, Stripe, and other companies that handle digital payments saw upticks in their customer bases as well, showing that people understood the importance of cashless payments and were adopting the trend in bulk.

This presents an opportunity for blockchain. The technology powers cryptocurrencies, which have already shown themselves to be effective forms of payment. Anyone can use a digital asset to make seamless payments across modules and channels, ensuring that they don’t have to touch anything physically.

Cryptocurrencies provide the benefit of being faster and safer than traditional digital payment methods. With them, people can make seamless payments for just about anything in seconds without worrying about virus transmission.

The trend has caught on, with more businesses adopting Bitcoin and other payment-based digital assets in the past few months. More adoption means that payments can resume, and in some way, business activities can do so as well.

Aviation

The global aviation industry already saw a significant boost in the adoption of innovative technologies. However,the pace hasn’t been at an encouraging level. The inability of the industry to adapt to new trends is one of the reasons why it was perhaps the hardest hit when the pandemic came around. Now that activities are resuming in full force once more, it might be time to focus on blockchain.

Thanks to blockchain technology, flight booking companies have an all-in-one solution that allows them to carry out their activities without necessarily providing physical contact. Blockchain can be incorporated into flight booking platforms to allow people to pay for their flights and get their tickets from the comfort of their homes, meaning that they don’t have to deal with travel agents or any of the other strenuous stuff.

Even better, people can pay for flight tickets with cryptocurrencies and enjoy the benefit of the cashless operation. 

A company operating this is BitcoinAsia. The platform serves the Asia region, allowing for people to pay for their flights with cryptocurrencies. With BitcoinAsia, users get an entire travel package. They can use cryptocurrencies to literally book entire travel packages – including but not limited to flights, hotels, meals, tours, and even travel insurance. Platforms like BitcoinAsia are the future – all efficiency, no lags.

Supply Chain

The potential for Bitcoin to improve the supply chain is one that was already being explored before the pandemic hit. Thanks to the efforts of companies like IBM and others, many began looking into how innovative technology could be put to good use.

There’s a need for more work on that, however. Thanks to blockchain, supply chain companies can bolster their operations, ensuring that processes are more effective. Blockchain improves trust and reliability in supply chain processes, providing an avenue for people to move goods and authenticate them.

Blockchain also reduces the use of paper-based operations. Like reducing reliance on fiat currencies, this can help to combat the spread of the coronavirus.