The Corona epidemic is stimulating blockchain adoption in Asian countries2020-09-16 09:29:18
According to a report from the Nikkei Asian Review, the Corona Virus epidemic has prompted many Asian countries to apply blockchain technology to secure their data over the Internet against hackers and cyber thieves.
This increase in adoption comes as The Business Research Company says the global blockchain market is expected to hit the $ 15.88 billion mark by 2023.
Tomohiro Maruyama, senior manager of PwC Consulting, told Nikkei that he believes the large-scale digital transformation caused by COVID-19 has resulted in the use of blockchain to protect against fraud. He urged other companies to adopt blockchain to secure their data, business and meetings over the Internet and said that "more companies should adopt blockchain after the pandemic".
Maruyama believes that Blockchain has emerged as an ideal solution to combat digital counterfeiting, which has prompted companies to adopt it. "Blockchain has emerged as an anti-digital counterfeit solution, promoting businesses to adopt this technology."
Kenta Akutsu, CEO of startup LasTrust in Japan revealed that his company has received many requests since the Corona virus outbreak. His company launched a blockchain service in September called "CloudCerts", which provides digital certificates for universities, academic transcripts and expected diplomas for college students. are looking for a job.
For its part, BitFlyer Holdings announced a blockchain-based application that allows shareholders to hold their meetings and also to vote securely online. According to the company, the app prevents plagiarism by linking with the My Number system in Japan, allowing shareholders to vote securely remotely. The company explained that it used the app to hold a meeting of shareholders last June, and it plans to launch the app locally this fall and then spread it. to Asia.
Rest of Asia
Other Asian countries have also turned to blockchain during the pandemic.
In Singapore, Agrocorp International has partnered with US Cargill, Singapore blockchain startup Dltledgers and several logistics firms to monitor agricultural supply chains that were disrupted after the country shut down. According to the company, blockchain technology has shortened the settlement times for commercial transactions from one month to five days.
In China, online health care platform Xiang Hu Bao, part of Alibaba Group Holding, has a policy of paying up to 100,000 yuan ($ 14,000) in case of death from corona virus.
But according to a company spokesperson, the main stumbling block in helping those in need is fraud and lack of transparency. In response to this, they used Alipay's blockchain technology, which provided them with the ability to confirm transparency in addition to processing a billion transactions per day.