Blockchain could be key in battle against COVID-19

Blockchain could be key in battle against COVID-19


Japanese Finance Minister Taro Aso suggested that blockchain would be key in the world's battle against the Coronavirus outbreak, as the technology could also be used for contact tracking while providing privacy.

Aso gave the keynote address of the Blockchain Global Governance Conference, also known as FIN / SUM Blockchain & Business, in Tokyo on August 24.

"In the fight against widespread infectious diseases, blockchain offers only one solution for contact Trading," he said, referring to coronavirus.

There are almost 24 million COVID-19 cases worldwide, more than 60 thousand in Japan. Despite the topic of Aso's speech, a limited number of people were allowed to physically attend the blockchain conference. others followed the speakers via a live broadcast.

The finance minister acknowledged that while the threat posed by coronavirus has not diminished, it could provide privacy for anyone who tests positive through blockchain contact tracking. In addition, the technology could give authorities a better measure of what needs to be done about containment and prevent possible outbreaks in the future.

Aso, a conflict between Japanese regulators with the community to make any progress on this blockchain should be addressed, he added, "some of blockchain communities, because they believed that they could hinder innovation, because the technology is not understood and may still be hostile to the editors. What we need is to work together and collaborate to consider the best use of technology under the best governance," he said.

Japan's finance minister is not the first regulatory body to propose blockchain as a solution to some of the problems the country faces under COVID. The chief executive of financial giant SBI Holdings said in May that the technology could be useful in monitoring and monitoring the supply chain of basic materials, including masks.