British researchers are testing Coronavirus Clearance Certificate (CCC), a new blockchain-based certificate, designed to handle COVID-19 risks over supply chains.
Trent Partridge #globalcoin #facebook #crypto currency https://t.co/nBzwZEc3Ia — Libra Coin News – Trent Partridge (@LibraCoinNews) April 21, 2020
On April 21, it has been reported in a statement that Professor Nassim Belbaly, the Director of Birmingham City Business School, noted that “coronavirus represents a crisis of trust because we cannot any longer automatically trust goods or suppliers.”
However, new, secure and automated solutions are being sought to help reassure consumers and suppliers that goods across the value chain do not pose health risks to themselves or to others.
It has been analyzed that to tackle this post-pandemic landscape, a newly-launched “4th Fourth Industrial Revolution Technologies Centre” is testing the CCC, issued by The Transnational Transparent Procurement Foundation (TTPF) in the UK, as the center is also known as “BCU-CCEG 4IR,” an acronym for the two collaborating founders behind it:
Birmingham City University (BCU), and
Centre for Citizenship, Enterprise and Governance (CCEG)
Founded in 2013, the CCEG has operated as a global think tank, with 165,000 members contributing to its research and development of social value tools, which use emerging technologies such as blockchain, artificial intelligence, Internet of Things and 5G.
Likewise, the CCC certificate can reportedly be issued to organizations, products, and even people to confirm that they have followed appropriate steps to mitigate risks from COVID-19.
As per the report, the challenges posed by the current public health crisis tie into wider concerns about compliance and ethical practices in modern logistics and value chains.
Olinga Taeed, a visiting professor of blockchain at Birmingham City University, said:
“[The certificate] confirms that a supplier adheres to highest standards of public health, sustainability, anti-bribery and even modern slavery. And in this case, we can verify the level of supply risk due to the coronavirus. It represents the future of supply chain management.”
However, as a vehicle for tracking the life cycle of any given product, for example, hand sanitizer, the certificate will initially be tested in the UK Midlands, a region that has been severely impacted by the pandemic.
Thus, blockchain specialists and IoT firms have also stepped in to adapt their solutions to COVID-19-focused data management and sharing.
Source: Cointelegraph | Image: CNBC.com