How blockchain can further the fight against COVID-19 according to the Japanese financial minister

• Taro Aso, the finance minister in Japan has recently suggested that blockchain technology could be the thing that would help battle coronavirus as the pandemic rages on throughout the world. 
• As the technology can be used for contact tracing, it can also ensure privacy in a slick and smooth manner.

Taro Aso, the finance minister in Japan has recently suggested that blockchain technology could be the thing that would help battle coronavirus as the pandemic rages on throughout the world. As the technology can be used for contact tracing, it can also ensure privacy in a slick and smooth manner.

The pandemic of coronavirus rages on throughout the world but even though life has got back to normal for many countries, the virus has got its grip on many nations globally. The economy has seen a massive downturn as we entered into the recession earlier this month and the future is all but known. 

The finance minister gave the opening remarks for the Blockchain global governance conference last week on the 24th of August in Tokyo.

He said:

"In the battle against widespread infectious diseases, blockchain provides one solution for contact trading," he said, while referring to the coronavirus.

In Japan, there have been more than 60,000 confirmed cases of COVID-19 which meant that there were only a limited number of people allowed to physically attend the conference in Japan with others watching through their computer screens at home.

Aso went on to acknowledge that even though coronavirus has been a massive threat to public health, blockchain would be able to provide privacy for anyone testing positive through contact tracing. On top of this, the technology could give authorities a better measure of what needs to be done in regards to containment. This would prevent possible outbreaks in the future.

The finance minister added that any disagreements between the crypto space and lawmakers in Japan would need to be addressed in order to make any progress on this topic.

He further went on to add:

“Some of the blockchain communities may still be hostile to regulators because of the belief they may hinder innovation due to a lack of understanding of the technology. What we need is to work together and collaborate to consider the best use of the technology under the best governance.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!