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IOTA-based online marketplace to combat coronavirus

  • A new hackathon is to accelerate the development of a decentralized marketplace on the tangle.
  • The marketplace is to regulate and allocate the distribution of medicines and relief supplies completely autonomously.

The coronavirus is causing financial markets to collapse worldwide and weakening the economies of many countries. Bitcoin and the cryptomarket have also continued to fall sharply in the last 30 days and the crisis seems to be continuing. As part of the HackTheAlps hackathon, various IoT-based projects are being financially supported and their development is being driven forward. One IOTA-based project is intended to effectively combat the coronavirus.

IOTA-based online marketplace

The online hackathon will take place from 28.03.2020 to 29.03.2020 and aims to promote applications that can help in the fight against corona. One project is the development of a decentralized local market place, where information is quickly and reliably collected, processed and based on this information, measures are taken to supply the population.

The aim is to develop a supply platform that monitors, coordinates and controls medical material for hospitals and facilities in a fully autonomous manner. In addition, food supply channels are to be tracked and the products distributed to the right places. This idea shall be offered as an app for Android as well as iOS and support the local economy in small and medium-sized cities in difficult times.

The app is intended to become a hub for leading food industry and aid supply institutions, acting as a distribution point for existing goods. In addition, a chat function will link all the players with each other and thus promote communication in times of crisis. The development of the app is to be pushed forward quickly, as Corona spreads quickly and more people are infected every day.

IOTA-based projects in the fight against Corona

Recently, the blockchain startup GeoDB released an Android app “Aid Squad”, which is supposed to prevent the spread of the corona virus and stores all user data in the IOTA tangle. The app offers visual maps based on the user data, which show in which areas there is an increased number of infected people. The app collects data such as age, gender, location but also information about symptoms such as temperature, cough, headache and duration of symptoms.

In addition, the IOTA community has developed another tracking app, “TrackCovidCluster”, as part of a hackathon run by the German government, which anonymously stores location data of infected persons on the tangle. Users of the app receive a warning as soon as they are in the vicinity of an infected person, which is intended to curb the spread.

The price of MIOTA is trending sideways and has increased by 0.21% to $0.1360 within the last 24 hours. With a market capitalization of almost $379 million, IOTA ranks 24th among the largest cryptocurrencies worldwide.

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About Author

Collin Brown

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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