Blockchain’s growing contribution to disaster management is testament to its pioneering versatility: Raj Chowdhury
Blockchain-enabled Disaster Management Frameworks bring together multiple stakeholders in the race against time to reduce loss of life and property, says HashCash CEO.
PALO ALTO, California, 9 October 2022 /PRNewswire-PRWeb/ — Disasters – whether natural or man-made – are unpredictable or unavoidable, resulting in widespread destruction and loss of life and property. HashCash Consultants CEO Raj Chowdhury points out the need for real-time access to accurate data among multiple stakeholders and how blockchain plays a significant role in improving coordination during disaster management.
Disaster management is a specialized category of operations management, which aims to maximize recovery results with limited time constraints. Humanitarian organizations and emergency service providers are working tirelessly to provide resources and restore the situation. The operations provide large chunks of data, generated as service transactions provided by volunteers, paramedics and other emergency response teams. Blockchain helps in establishing the veracity of these transactions and quick decision-making with real-time secure access to the verified information.
The HashCash CEO, also a blockchain pioneer, states: “Disaster management frameworks greatly benefit from blockchain’s integration. Its inherent properties help streamline the processes involved, increase operational efficiency, and facilitate communication with real data information.”
Attempts to alleviate the pain of the victims and restore the damage require dedicated efforts from several end governments, NGOs, telecom workers, citizens, food, emergency and care providers, shelters and even the insurance sector. Countless victims suffer in silence during the ordeal of queuing for documentation and settlement at insurance offices every year, having lost all their possessions in disasters.
“The underlying technology behind it Bitcoin can actually present positive results where documentation is required. This is exactly why governments and private organizations around the world are looking for ways to integrate blockchain,” said Chowdhury, who had previously called for infrastructure upgrades among agencies that handle crypto surveys, and offered suggestions for brand marketing in the metaverse.
Led by Chowdhury, US-based HashCash Consultants is an award-winning frontrunner in blockchain development and distributes technology products in over 26 countries. The company is globally recognized for its white label crypto exchange as well as pioneering blockchain solutions for supply chains and traceability. HashCash recently announced user-friendly updates for its crypto payment processor Billbitcoins.
Each disaster has its own unique set of challenges. Proactive planning and rapid implementation can help with rapid identification, reducing the number of losses and injuries. Blockchain emerges as an ideal solution that offers an immutable distributed database of authenticated information that can be updated in real time, eliminating inconsistencies or deviations. Meanwhile, blockchain-powered smart contracts reduce the time taken for insurance settlements, and are executed automatically when the pre-written conditions are met.
Raj Chowdhury is the CEO of HashCash Consultants and a Blockchain pioneer. Raj pioneered the first interbank trade finance and remittance implementation of blockchain technology between two of the largest global banks. Raj is a prominent voice in Blockchain and Cryptocurrency place and engages actively with decision-makers in this area. He is a contributor to the Economic Times, Business World and CNNMoney and advises industry leaders on the adoption of Blockchain. He is a member of Asha Silicon Valley, a non-profit organization committed to education for children in emerging countries. Author of the book ‘The Dark Secret of Silicon Valley’, Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.
Media contact
COLEEN F, Hashcash Digest, +14159662907, [email protected]
SOURCE Hashcash Digest
