Asia looks to blockchain during pandemic

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Updated September 21, 2022 | Published August 17, 2020

2 mins read

According to The Business Research Company, the total industry valuation of blockchain is expected to hit $16 billion in 2023. PwC Consulting senior manager Tomohiro Maruyama spoke with Nikkei and argued that the ramifications of the COVID-19 crisis have prompted many private and government entities to seriously consider how they could use blockchain to protect data, as well as reduce fraudulent and criminal activity online.

According to LasTrust CEO Kenta Akutsu businesses have been enquiring as to how best establish safer practices in place to guarantee the cyber-security of their operations. A particular surge in queries came after the COVID-19 lockdown began, Akutsu explained.

Meanwhile, BitFlyer Holdings has created a dedicated blockchain app that allows executives to vote securely online and run business as usual. One thing is clear, though, with a lot of activities going back up online, the world needs a more secure technology to police online affairs.

Blockchain proves this guarantor of safety which Asian countries have been eager to embrace. Blockchain is not there to solve all of the online business world’s issues, but it should at least guarantee a dip in the incidence of fraud on the Internet.

A point in case is the online gaming industry powered by blockchain, which has been doing increasingly well of late. Today, there are many gaming facilities which have established a strong reputation for themselves as the most trustworthy online gaming properties around.

Good examples of great blockchain-powered gaming solutions include BitStarz, 1xBit, Bitcasino.io and FortuneJack, to name just a few.

Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.

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