Asian countries to adopt blockchain technology for securing their data through the Internet against hackers and cyber thieves amidst COVID-19 pandemic.
It has been reported by Nikkei Asian Review that this increase in adoption comes as The Business Research Company said the global blockchain market is expected to hit $15.88 billion in 2023.
However, Tomohiro Maruyama, the Senior Manager of PwC Consulting, said that he believes the large-scale digital transformation caused by COVID-19 has led to blockchain’s use to protect against fraud. He called on other companies to adopt blockchain to secure their data, business, and meetings via the Internet saying “more companies should adopt blockchain after the pandemic.”
Pandemic prompts many Asian countries to bet on blockchain https://t.co/MfJr53bKha — Cointelegraph (@Cointelegraph) August 16, 2020
Maruyama believes that blockchain has emerged as an ideal solution to combat digital counterfeiting, which has led companies to adopt it.
“Blockchain emerged as a solution for fighting digital counterfeits, pushing businesses to adopt the technology.”
Likewise, Kenta Akutsu, the CEO of Japanese startup LasTrust, revealed that his company received many inquiries since the outbreak of the Coronavirus, as he clarified that his company launched a blockchain service in September called “CloudCerts,” which provides digital certificates to universities, academic transcripts, and expected graduation diplomas for college seniors looking for jobs.
As per the report, BitFlyer Holdings announced that a blockchain-based app allows shareholders to hold their meetings and also vote securely online.
According to the company, the application prevents plagiarism by linking to the My Number system in Japan by allowing shareholders to vote securely remotely. Also, the company explained that it used the app to hold a meeting of its shareholders last June and that it plans to launch the application locally this fall and then spread to Asia.
Thus, many Asian countries have turned to blockchain during the pandemic.