From health data to fake news, here’s how Bitcoin can aid coronavirus crisis

Fibo Quantum

Could Bitcoin be any help in handling pandemics such as the current coronavirus? Yes, it could, as soon as we make use of the real Bitcoin as described in the whitepaper, which is only to be found in Bitcoin SV.

Fake news concerning corona virus—Metanet helps

There is tons of fake news flying around on the internet concerning coronavirus. The internet itself cannot solve the problem of fake news, as the main reason for fake news is the ability to post literally for free and—in many cases—being unable to track down the source of it.

In the Bitcoin SV driven and already usable Metanet, fake news perpetrators do not enjoy the freedom of posting false information for free. They are still able to post false information, but they pay for it. This already is a game changer in itself, as it finally puts a cost to influencing perception.

Metanet also enables traceability. You might operate privately in the Metanet, but not anonymously.

“The internet never forgets” is a common term. However, the internet does forget—actually quite fast and reliably. The Metanet runs by the idea of storing data on the Bitcoin SV blockchain forever. Post harmful fake news once and you might be tracked years or decades later. It really comes down to the fact that criminals are not safe on a public ledger.

Health data on Bitcoin SV

At the CoinGeek Conference in London, EHR Data Inc. and its partners announced plans to literally put billions of transactions on Bitcoin SV per year, filled with health data. Right now, health data is siloed off, which leads to inefficiencies and health risks for patients.

It makes sense to gather crucial pandemic health data on a public ledger. Yet, nobody actually does it.

Why not use BTC for this, one may ask? As BTC cannot scale, it therefore cannot serve as a public ledger—Bitcoin SV scales though and is ready for governments, enterprises and customers to use:

“So we decided, if we’re going to have this opportunity, we’re going to do this on a public blockchain so that is completely independent of our business. That was the big reason why going with BSV, and when you go public, there’s very few options out there, I think the only one right now is Bitcoin SV,” said Deadalos Inc. President Ron Austring at the CoinGeek London conference.

Health data on a public ledger helps fighting pandemics. The data can be put on chain live and accessible for anyone. Right now, we rely on governmental information to be updated on coronavirus—most governments supply crucial information quite reliably, however before an official announcement is made, hours and days pass, leaving crucial information unused for a while. Winning time in pandemics is a priority.

It is a hassle for governments from different countries to put the global diversified pandemic data into one data base. We need the coronavirus data—infection numbers, places where it occurred and medical service availability—live on the Bitcoin SV public ledger.

At the moment, the largest quantities of pandemic data is held by U.S., Chinese and European authorities. It is tough for them to coordinate that data with the lack of a shared public ledger. However, the technology is here already with Bitcoin SV—let’s make use of it.

Coronavirus crisis might end up in a recession – how will Bitcoin react?

Due to the coronavirus, we see a severe stock market crash, broken supply chains and lock downs of public life. This might very well end up in a recession. Bitcoin is not recession proof in U.S. dollar terms, even though certain BTC proponents try to sell you this idea.

As Bitcoin is about processing transactions on a public ledger, it will be less used in a slowed down recessional economy. BTC was never used for actual transacting, but for speculation alone. In recessions, high risk speculations are avoided and BTC would lose most of its current USD valuation.

However, Bitcoin SV is used for transactions and will still be used in a recession—people will transact less in a slowed down economy, but will not stop transacting.

This is crucial to understand: Bitcoin SV’s value is utility driven, and utility is still there in recessions. Remember EHR Data Inc.‘s billions of transactions on Bitcoin SV—these transactions would still be made in a recession.

The technology to fight pandemics is available in Bitcoin SV—make use of it

Another pandemic might occur sooner or later, but it could be managed way more efficiently on a public ledger instead of on siloed-off data storages. In addition to that, false pandemic information could be reduced by using Bitcoin SV’s Metanet and leaving the fake news affine internet of today behind. 

With EHR Data Inc.’s plans to use Bitcoin SV, we have proof that Bitcoin has grown up to challenge real world problems.

As soon as the coronavirus crisis is overcome, governments and enterprises will have to evaluate wasted opportunities in the management of obvious informational inefficiencies. Bitcoin SV is ready.

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.