Why the Covid-19 pandemic is far from over

According the John Hopkins University of Medicine there are now over 10 million people who have been found to have covid-19 and over ½ million have now died globally.

The situation in the USA would appear to be deteriorating with bars now being forced to close again in many States across the USA.There have been over 40,000 people every day being found to have tested positive for covid-19 in the last three days. The impact on the US economy will be significant as lockdown restrictions are returning. To date over 125,00+ people have died in the USA but this could rise to 150,000 by July 18, according to the US Centers for Disease Control and Prevention.

Why the Covid-19 pandemic is far from over

Meanwhile equity markets seem to have shrugged off initial concerns despite no signs of a vaccination as yet. The IMF now are talking about a contraction in the Global economy of 4.9% which is 1.9% worse than they said in only April. So what can governments do as they cannot cut interest rates further, maybe they will throw cash as the bond markets i.e. a return to ‘helicopter economics’ i.e. giving money way to its citizens. They could embark on a huge back to work infrastructure building campaign repairing roads, bridges, building railways, hospitals etc, which is what the UK government are now talking about. But this is will simply increase the level of debt still further!

In the meantime we have seen companies turning to Blockchain technology as a result of covid-19 to help track and trace pharmaceutical drugs helping improve todays often complex supply chains by bring greater clarity and transparency. The World Health Organization using a Reymedi Blockchain powered platform to monitor vaccination records, treatments, and prevention which could easily be used for covid-19 vaccination assuming we find one?

There are also a number of initiatives around health care ID cards which will lead to increased surveillance but will hopefully enable people to travel and allow countries to have greater certainty regards the health of visitors. If 911 introduced the increased security measures when flying and the prohibition of carrying more than 100ml of liquids within the cabins of aircraft, what will covid-19/s legacy be? Will international travellers have to have a digital health card so confirming their health records types of antibodies they have. Will governments insist that visitors have to be contactable by email and or phone? As the good old fashion, world renowned pubs and taverns, open in the UK, on the 4th July, (independence day in the USA) it would seem that anonymity and independence is at least for now being restricted. As to get a pint in your local pub you will need to register your phone and or email contact details just in case you need to be traced and contacted in the vent that your local pub suffers an out break of covid-19 and the authorities need to find you!

The world is going to be a very different place for a while, lost of empty offices, public transport will be renationalised, personal freedom being restricted, reduction in international travel, attendance at mass gatherings such as theatres, concerts, festivals for as long covid-19 looms over us. Yes technology like Blockchain and AI can help to track and trace drugs, infection rates, ID, improve the efficiency of supply chains but we need a vaccination and fast as the long term emotional and psychological damage could take years for people to recover from and this will impact detrimentally on the global economy.

#Blockchain #covid-19 #Economy #coronoavirus #ID cards #travel #rescession #trust # # #JohnHopkinsUniversity #worldhealthorganisation #stockmarket

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