Nash’s co-founder stated that three industries would gain from blockchain technology on the Post-COVID-19 pandemic.
Fabio Canesin, the co-founder of the Fintech Nash Blockchain, believes that if the world emerged from the COVID 19 pandemic, blockchain technology would offer the public a “unique” opportunity because of its “unlimited” nature.
In an interview with Cointelegraph, Kanesin said he saw the use of the “biggest” new blockchain for the three primary industries in the pandemic: government, non-profit, and small and medium businesses.
Blockchain helps to distribute funds to fight Corona Virus
Government agencies will improve it.
Nash’s co-founder stated:
“This only means that using blockchain for stimulus checks instead of sending payments via traditional systems, which take much longer and are prone to errors. With the use of 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 non-profit sector, Kanezin said, donations can have effects similar to blockchain incentives. He added that donations directly to organizations are known as “a very effective way” to increase donation yields, and “direct contributions to individual digital purses can disrupt philanthropy”.
Blockchain means a lot, even to small and medium businesses.
“Blockchain means being able to hire overseas, giving anyone access to the global economy, whether they’re a small or large company.”
Assurance that it’s safe amid crisis
Nash’s co-founder examines the role of cryptocurrency in reducing the impact of the coronavirus pandemic crisis, saying that one issue to consider is the fact that cryptocurrency offers a haven from a poorly managed national currency.
He cited the crisis that Lebanon is facing as an example where the “known” banking crisis has spiked up.
“They are facing problems such as withdrawal limits at ATMs and seeing their savings evaporate following spiraling inflation. Cryptocurrencies can protect against both these things. Not that it only control your assets, which means 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.”