Overstock’s CEO, Jonathan Johnson, has said that private, consumer-controlled immunity passports may be the tool that drives blockchain technology to widespread adoption.
In an interview with PYMNTS, he said the company’s investment arm has turned to two startups creating blockchain-based applications that allow consumers to download and monitor their health records.
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Making people feel safe again…
Johnson suggests that we should consider what will make the average consumer feel safe to use air travel, restaurants or even shops again after the coronavirus pandemic subsides. Ultimately, he believes this depends on the knowledge that everyone around him is not infected with the virus:
“An immunity passport is what it’s going to look like for many industries. If I can prove that I have the antibodies or that I’ve stayed away from the infection completely, and I can show that in an immunity passport, that’s pretty powerful.
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… while maintaining privacy
One of the main obstacles to such implementation is how to encourage adoption. Potential users may be left behind amid concerns about data privacy or misuse. And stories about totalitarian regimes like China applying such a scheme to their citizens do nothing to allay fears.
The key difference between the blockchain-based applications initially sought data – at the end of march – institutions finally move into bitcoin – sign up for free here – round of layoffs – a request for information – platform for decentralized finance – layer 1 solution – sec rejects 9 bitcoin etf proposals – be harnessed to help bitcoin scale is investing in, and a state-enhanced scheme, says Johnson, is choice. Consumers must choose to access their health data through the application, and then they can choose with whom to share the information.
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Johnson also believes that adoption will improve when certain companies begin requiring such an immunity passport, for example to watch a sports game, get on a plane or dine at a restaurant.
This will force consumers who want to participate in such events to join
Bringing blockchain out of Bitcoin’s shadow
Overstock has long been a proponent of cryptomonies and blockchain, but Johnson believes that the technology has so far been overshadowed by his first case of the use of digital payments.
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He says that a solution that allows consumers and businesses to regain confidence in face-to-face transactions, using the secure and immutable transfer of data through the chain of blocks, could bring technology out of that shadow and into the consciousness of the majority, even if many do not understand the technology behind it.