We are truly embracing the new digital age, which is seeing the integration of Web 3.0 technologies, Artificial Intelligence, Distributed Ledger Technology and more into variegated processes and industries as we know it. Governments and businesses have long set their sights on the eventual digitization of archaic systems used today, but these plans were hardly seen as a priority for swift development. However, the COVID-19 pandemic has given them no choice but to adapt to an exclusively digital world with blockchain technology to secure personal data, deter malicious actors on the Internet and also, offer reliable ways to remotely perform particular functions online without having to meet in person, such as nationwide voting.
According to a report by Nikkei Asian Review, major businesses in Japan are promoting the use of blockchain to authenticate digital documents, where important documents can avoid the problem of being counterfeited in physical, paper form. It can also facilitate the dissemination of authentic news, weeding out fake news in times of crisis. Digital academic certificates for graduates that can be verified online will also make job application processes much smoother and convenient for potential employers and employees. Also adding to the list are restaurants in Japan that have begun sending out digital coupons and premiums to adapt to the new digital environment.
In particular, verified and authenticated voting has become an issue in Japan for businesses that hold shareholder meetings. bitFlyer Holdings has purportedly created a blockchain-based app that is connected to Japan’s national citizen identification system, and voting can be done remotely without having to worry about fraudulent acts taking place. While voting at a national level for crucial events such as democratic government elections are still in its infancy, it is easy to see why digitization of the voting process is desirable in a world still wrought by the pandemic. In the US, the US Postal Service recently obtained a patent for a blockchain-based voting system for the upcoming presidential election as Trump continues to vilify mail-in voting from citizens.
In other parts of Asia, blockchain technology is also becoming increasingly useful in this pandemic-ridden climate. Singapore-based Agrocorp International is partnering multiple institutions and companies to supervise agricultural supply chains globally that have been affected by the pandemic and cutting down the time spent on settlement of trades by 75%, while China’s insurance industry has been relying heavily on blockchain tech to confirm deals between insurers and customers.
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