Mar 29, 2020 08:30 UTC
Mar 29, 2020 at 08:30 UTC
UAE backs on Crypto to fight Covid-19
Now there is a saying that goes by the term, desperate times call for desperate measures and that is what exactly many countries around the globe are doing. They are planning to make sure that there is an effective database that is being done and given to the same to solve the pandemic that has been claiming lives on a larger scale these days.
Many of the countries are trying to bring in effective measures to make sure that they are suppressing the pandemic at no costs but the issue still remains to increase and increase as we speak.
UAE believes in blockchain tech:
In recent turn of events the UAE government who is also tackling a lot of issues with the corona virus stated a long time back that they were looking for innovative ways to suppress the outbreak and bring the pandemic under control. In the recent turn of events the UAE government turned to blockchain technology to make sure that they prevent the pandemic at no cost.
The UAE government processes more paperwork than many countries in the world and this means that they would have to deal with Human interaction to get the paperwork done. There are a lot of issues that we are getting portrayed on a daily basis and this means that with additional improvements in the online features they will be able to take everything online.
Now the online payment methodologies that we are using to ensure that there is a steady flow in the work that has to be done the UAE government is taking everything online. Now the problem is that many of the documents that they are dealing with are of crucial information and that means the sophistication and safety is primary with these kinds of documents.
That is where the Blockchain comes into play. It is well known that blockchain technology can help in increasing the security feature of the system operations and that is one of the major reasons as to why the UAE government wants to take everything online.
The Ministry of Community Development (MOCD) has taken the digital way to get paperwork and authentication done online with the help of blockchain technology.
One of the blockchain based technological firms alipay has taken up the initiative in designing digital channels for completing the end to end transactions and authentications in a much sophisticated manner and most importantly secure.