China Turns to Blockchain As Coronavirus Spins Out of Control

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With 65,000 people infected with the coronavirus and more than 1,400 fatalities in China, many basic medical supplies are scarce. To improve donation efficiency amid the crisis, Chinese startup Hyperchain has launched a blockchain-based solution. Scandals and Chaos Surround the Coronavirus According to the South China Morning Post (SCMP), there has been a series of scandals in China regarding public donations since the coronavirus broke out. These have served to shake peoples’ confidence in how their funds are being distributed by state-backed charity organizations. They have also provoked outrage as hospitals report a shortage of face masks for front-line staff treating infected patients. On Feb 1, the Red Cross Society of Hubei issued a statement on its website. It said that the organization was deeply distressed, felt guilty, and “blamed themselves” for the problems associated with the distribution of donated materials. In fact, their poor management of the situation led…

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