Blockchain received a big endorsement in 2020 when the Congressional Blockchain Caucus lobbied President Trump and federal regulators to draft the technology in the fight against the coronavirus. Caucus members in a September 2020 letter urged their fellow federal leaders to consider the use of blockchain in the COVID-19 pandemic as a viable offering to ensure identity protection and identification, secure supply chains and authenticate registries, in addition to supporting other critical use cases.
A June 2020 report from Everest Group offered a similar outlook, stating that the pandemic and its economic fallout could stifle investments in blockchain short term but added that “in the medium and long term, the pandemic and ensuing economic crisis is a catalyst for acceleration of innovation, as enterprises seek to build resilient and risk-optimized operating models and finding ways to create differentiated value.”
