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The pandemic is driving Asian countries to adopt blockchain

The coronavirus pandemic prompted many Asian countries to adopt blockchain technology According to a report by the Nikkei Asian Review, you should use the Internet to protect your data against hackers and cyber thieves.

This increase in acceptance occurs when The Business Research Company announced that the global blockchain market is expected to reach $ 15.88 billion by 2023.

Tomohiro Maruyama, Senior Manager at PwC Consulting, said Nikkei that Believes that the large-scale digital transformation caused by COVID-19 has led to the use of blockchain technology to protect against fraud. He urged other companies to adopt blockchain technology to secure their data, business and meetings over the internet. “After the pandemic, more companies should adopt blockchain technology.”

The pandemic is driving Asian countries to adopt blockchain
The pandemic is driving Asian countries to adopt blockchain

Maruyama believes that blockchain has emerged as the ideal solution to fighting digital counterfeiting and has led leading companies to adopt it.. “Blockchain has emerged as the solution to combating digital counterfeiting that has led companies to adopt the technology.”

Kenta Akutsu, CEO of the Japanese company LasTrust, revealed that his company had received many inquiries since the coronavirus outbreak. He clarified that his company launched a blockchain service called “CloudCerts” in September, which will provide universities with digital certificates, academic credentials, and expected diplomas for college seniors looking for work.

For his part, BitFlyer Holdings announced a blockchain-based application that allows shareholders to vote securely online. According to the company, the app prevents plagiarism by connecting to the My Number system in JapanThis allows shareholders to vote securely from a distance. The company said it used the motion to hold a meeting of its shareholders in June and that the app is planned to be launched locally in the fall and then rolled out in Asia.

The rest of the Asian countries

Other Asian countries have also turned to blockchain technology during the pandemic..

In Singapore, Agrocorp International has worked with the American company Cargill, the Singapore blockchain startup Dltledgers and several logistics companies to monitor disrupted agricultural supply chains. in the course of the closure of the country. According to the company, blockchain technology reduced the turnaround time for its business transactions from one month to five days.

In China, Xiang Hu Bao online health platform, which is part of Alibaba Group Holding, Introduced a policy that pays up to CNY 100,000 ($ 14,000) in the event of death from coronavirus.

According to the company spokesman, fraud and a lack of transparency were the main obstacles to helping those in need.. To do this, they used Alipay’s blockchain technology which, in addition to processing 1 billion transactions per day, allowed them to confirm transparency.

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