According to Brandon Mintz, CEO of the crypto ATM network, Bitcoin Depot. The blockchain group is playing an important role in helping to develop pharmaceutical drugs to counter COVID-19. Blockchain will carry immense computing power to validate transactions and create new coins.
In an interview with Cointelegraph, Mintz emphasized that the greatest advantage blockchain brings to the table is “the security side of things,”. Adding that such acceptance is also useful for contactless payments and online crypto transactions as online sales continue to skyrocket.
Crypto group efforts to support COVID-19 researches
Crypto community efforts to help COVID-19 researchesBitcoin Depot ‘s CEO commented on the use of computational power. To improve research projects related to COVID-19 by allocating resources through blockchain-backed platforms.
“Since COVID-19 hit worldwide, we’ve had to process more information online than ever before. And incorporating the added security that blockchain offers has been an enormous help in my eyes. I think developments like this are great. If there are resources available and it can potentially improve the project greatly. I think more institutions should look into expanding their own projects like this.”
Mintz explained that despite the fact that there will still be “some fragmentation” within the crypto community about finding ways to support research for a cure, “the large majority of the community has really banded together to create new innovative ways to help fight the virus.”
What to expect in a post-pandemic age
Mintz noted that after the pandemic ends the blockchain world will see what other applications the system has, not just for work related to viruses. He said:-He said:
“I think one of the biggest takeaways for most is that blockchain technology can be as flexible as you need it to be. Especially in cases like the current pandemic, we’ve seen blockchain be used for handling patient data. And contact tracing all the way to helping businesses with verifying donations. The community has found ways to apply it to non-typical uses and I hope that trend continues in the future.”
The CEO of Bitcoin Depot says he’s excited to see how governments adopt blockchain. To the way they treated the pandemic adding:
“I genuinely believe it can always be pushed further. We’re seeing new ways to combat the virus with tech every day. And I think adopting those new technologies and ideas could be wildly beneficial for a lot of struggling governments.”