• The World Economic Forum advocated blockchain in its recent report as a means for governments to re-stabilize the economy.
  • The WEF also released a blockchain implementation toolkit for guidance pertaining to DLT deployment.

In a report published on 28 April 2020, the World Economic Forum stated how blockchain-based solutions can help ease the difficulties that the COVID-19 pandemic has introduced in the supply chain.

The report stated how the stability of the public and private supply chains has been challenged considerably in the midst of the pandemic with the supply chains of pharmaceutical goods, medical services, and food amongst the ones hardest affected. The report further proposed the introduction of DLT in the supply chain for achieving a transparent network and creating a shared truth among the participants of the network.

The WEF has also released its “Redesigning Trust: Blockchain Implementation Toolkit”, to educate the nations and firms about blockchain and help firms reap the benefits of the technology at minimal risk.

Nadia Hewett, the blockchain and digital currency project at WEF USA, stated:

“The blockchain deployment toolkit is essential for designing solutions that work for a multitude of actors, including smaller players who may not have access to the resources required to unlock the value of blockchain technology.”

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