Co- founder of Nash explained about industries, clarified that there are three industries that will be benefited from blockchains technology after the COVID -19 pandemic.
Co-founder of blockchain Fabio and firm Nash, speculates that as the world gets back out of COVID -19 pandemic, blockchain technology requests “unique” relief to the public due to its “borderless” nature.
Blockchain assisting to allocate Coronavirus-related incentive checks
For the government beings, Nash’s co-founder explained:
“This could mean using blockchain for stimulus checks instead of sending payments via traditional systems, which take much longer and are prone to errors. Along with using blockchain to speed up the process, the current system could (and should) begin allowing individual accounts directly on the network, without the need of intermediaries.”
For the nonprofit sector, Canesin explains that payments could operate furthermore to how stimulus payments should with blockchain. He further expands that providing rapidly to organizations is well known to be a “highly efficient way” to improve the outcome of donations, and “direct contribution to individual digital wallets could be disruptive for philanthropy.”
Canesin also noted on what blockchain could imply to tiny and medium businesses:
“Blockchain means being able to hire overseas (given the technology is borderless and allows global payments), giving anyone access to the global economy, whether they’re a small or large company.”
Cryptos as a safe haven in time of crisis
Dealing with the role of cryptos to support mitigate the impacts of the crisis emanated by the coronavirus pandemic, Nash’s co-founder announced that an issue worth deeming is the fact that cryptocurrencies furnish a stable haven from mangled national currencies.
Added an example of the problem that Lebanon is contending nowadays, where the COVID-19 problem has stimulated an “existing” banking crisis:
“People are facing withdrawal limits at ATMs and seeing their savings evaporate following spiralling inflation. Cryptocurrencies can protect against both these things. Not only do you control your assets, meaning you can never have withdrawals blocked, but most currencies have built-in protections against inflation, which are hard to change on account of their decentralized nature.”