Founder of Crypto ATM network, Bitcoin Depot, believes that the Blockchain community can help develop a cure for Covid-19. Brandon Mintz believes that the Blockchain can do that because of its immense computational power to confirm transactions and generate new coins.
Mintz believes that the Blockchain’s biggest strength here is in the security part. He added that Blockchain is also great for facilitating online payments using crypto. Contactless payments are becoming a big thing especially now due to Covid-19. The CEO believes that the use of computational power can add so much to research projects that are being carried out, by allocating resources through Blockchain-backed platforms;
“Since COVID-19 hit worldwide, we’ve had to process more information online than ever before, and incorporating the added security that Blockchain offers has been an enormous help in my eyes. I think developments like this are great. If there are resources available and it can potentially improve the project greatly – I think more institutions should look into expanding their own projects like this.”
Mintz added that indeed there would be divisions when it comes to how the virus should be fought within the community. The vast majority of the community though, agreed on the direction to take and the innovations to work on to beat the virus. He added that a post pandemic future would reveal what else the technology could do
“I think one of the biggest takeaways for most is that Blockchain technology can be as flexible as you need it to be. Especially in cases like the current pandemic, we’ve seen Blockchain be used for handling patient data and contact tracing all the way to helping businesses with verifying donations. The community has found ways to apply it to non-typical uses and I hope that trend continues in the future.”
He also added that adopting technologies like the Blockchain could help struggling governments
“I genuinely believe it can always be pushed further. We’re seeing new ways to combat the virus with tech every day and I think adopting those new technologies and ideas could be wildly beneficial for a lot of struggling governments.”
Image Courtesy of Forbes