The health institutions in South Korea are using every available tool to fight Coronavirus disease. The most recent technological alternative is using a blockchain app system to track Covid-19 contacts in different parts of the country.
Global digitization and coronavirus pandemic have created the need for innovative solutions to replace some traditional ones. Digital identification (ID) is one of such significant solutions trending in the world.
The forced digitizations of nearly all industries worldwide makes traditional players adjust and set standards for innovative solutions. Thus, the G20’s Financial Stability Board (FSB) is set for developing a framework for adopting CBDC.
The interest in cryptocurrency seems to grow as new people join the community. Compared to other communities, the cryptocurrency ecosystem is a relatively nascent community because the first cryptoasset was launched in January 2009, meaning that it is just over one decade into existence.
Fake news related to cryptocurrency, Coronavirus pandemic, and other fields that spread through social media like Facebook, Google, Twitter etc., are becoming a problem. That is why the European Commission urged the giants to strengthen measures against misinformation.
The use of Bitcoin and other digital currencies has played a big role in the economic recession caused by Coronavirus. A lot of people, businesses and companies have stored their wealth in cryptocurrency in fear of inflation caused by the financial crisis due to the pandemic.