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Blockchain And Crypto Will Reach A New Level Of Development In The Post-COVID World: The Japanese Senator

The spread of COVID-19 prompted the government of many countries to search for solutions that could solve the issue of countries’ dependence on the world economy, on a possible economic crisis and a jump in inflation. Under these conditions, the number of regulators has increased, which purposefully drew attention to the study of blockchain technology and cryptocurrency.

Japanese authorities are actively interested in crypto

Previously, Japan was skeptical of cryptocurrency and did not take the crypto industry seriously. Now we can observe the “warming” in the mood of the top authorities. In particular, Shun, the senator Otokita, assessed cryptocurrency in today’s realities. On Twitter, he noted:

“Now the issue of popularizing cryptocurrency and introducing blockchain technology is increasingly gaining relevance. When the world defeats COVID-19, digitalization will be more popular than ever before, so digital assets may enter a new phase of growth. “

The fact that the Japanese senator considers cryptocurrency as an opportunity to make adjustments to the existing financial infrastructure is evidenced by his communication with local traders. Shun is sure that now the main task of the government is to minimize financial risks, removing tax obstacles for the development of the crypto industry.

Shun noted that he was impressed by the blockchain technology model due to the high level of security of data that is transferred from one user to another. Cryptography can be a driver for improving the asset management system by individual operators.

Today, Japan can already see an example of the introduction of cryptocurrency and the first results on the example of China. This was reported by Carlo de Meyer, the chief economist at MIFSA. He focused on the fact that China, using cryptocurrency and blockchain technology, is trying to minimize the negative consequences of the spread of coronavirus, especially the increase in unemployment and the decline of the economy.

“Now in China, applications that operate on blockchain technology are being massively introduced in various industries, from medicine to universities. This may be a winning ticket for China. ”

“Star time” for blockchain

Today, the issue of mass introduction of blockchain technology for medicine is being actively considered. The main advantage of the blockchain structure is decentralized data management, increased transparency, and the possibility of rapid global information exchange.

Thus, using the blockchain, you can significantly increase the reliability of statistics on the number of infected citizens around the world. Similar blockchain applications are already being actively developed in the UAE.