Blockchain technology could become one of the key tools in protecting citizens’ privacy in the face of the COVID-19 pandemic, said Japan’s Finance Minister Taro Aso, writes Cointelegraph.
On Monday, 24 August, Taro Aso delivered a keynote at the FIN / SUM Blockchain & Business conference in Tokyo. He said that blockchain is one of the technologies able to protect privacy in tracing contacts of those infected with the coronavirus.
“In the fight against widely spread infectious diseases, blockchain could be one of the solutions for contact tracing,” he said.
Aso explained that blockchain could safeguard confidentiality for all those whose positive result, as well as give authorities a more precise assessment of what needs to be done to curb the spread of the virus and prevent future outbreaks.
The minister added that progress in this regard requires resolving the existing tensions between the blockchain community and regulators.
“Some members of the blockchain community may still be hostile toward regulators, arguing that they could hinder innovation because of a lack of understanding of the technology. We need to work together and find the best application of the technology with better governance,” he said.
In-person attendance at the Tokyo conference was limited. The majority of attendees watched it via online livestream.
As noted in a study by Bitbank, a Japanese exchange, the COVID-19 has weakened residents’ interest in cryptocurrencies.
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