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COVID-19 has led Asian countries to adopt Blockchain

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Tran Cong
COVID-19 has led Asian countries to adopt Blockchain

According to a report from the Nikkei Asian Review, the COVID-19 epidemic has prompted many Asian countries to adopt blockchain technology to secure their data over the Internet against hackers.

The increase in blockchain adoption comes when The Business Research Company says the global blockchain market is expected to reach $ 15.88 billion by 2023.

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Tomohiro Maruyama, senior manager of PwC Consulting, says that he believes the large-scale digital transformation caused by COVID-19 has led to the adoption of blockchain to protect and fight offenses.

Maruyama urged other companies to adopt blockchain to secure their data, business, and meetings over the Internet, saying that "companies should adopt blockchain now".

Maruyama believes that Blockchain has emerged as an ideal solution against digital counterfeiting, which is the strength of blockchain and has helped companies pay more attention to blockchain.

"Blockchain emerged as a solution to combat digital counterfeiting, motivating businesses to adopt this technology"

Kenta Akutsu, CEO of a blockchain startup in Japan, revealed that his company has received multiple requests since the Coronavirus outbreak took place.

Akutsu says his company launched a blockchain service in September called "CloudCerts," which offers digital certificates to universities, academic transcripts and expected diplomas for college students looking for work.

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Asian countries have been turning to blockchain technology during the pandemic.

In Singapore, Agrocorp International has partnered with US Cargill, Singapore blockchain startup Dltledgers, and several logistics companies that use blockchain to monitor agricultural supply chains that were disrupted following the country's shutdown.

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 coronavirus deaths.

According to the representative of Xiang Hu Bao:

“There are many obstacles to helping those in need, as there are a number of scammers disguised as the poor to receive assistance. But since the adoption of blockchain we have solved this problem, blockchain offers the ability to confirm transparency in addition to processing a billion transactions per day.

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