Brandon Mitz spoke about the benefits of security, flexibility and computation power offered by blockchain and how it can contribute to COVID-19 related research
In an interview with The Coin Telegraph, Brandon Mintz, the CEO of crypto ATM network, Bitcoin Depot spoke about the crucial role being played by blockchain in developing pharmaceutical drugs to combat the COVID-19 global pandemic.
Mintz added that blockchain technology brings with it immense computational power and can confirm transactions and generate new coins securely.
As countries across the world descended into nationwide lockdowns, blockchain has contributed to innovation in contactless payments and online purchases, the CEO emphasised.
Blockchain technology has been one of the frontrunners in ensuring that researches around vaccines and treatments for the virus are spending money effectively towards decisions accelerating research.
Mintz highlighted that blockchain assures “the security aspect of things,” and explained that cryptocurrency has seen the increasing interest of the general population of countries like Russia since the beginning of the lockdown, especially in the area of e-commerce.
“Since COVID-19 hit worldwide, we’ve had to process more information online than ever before, and incorporating the added security that blockchain offers have been an enormous help in my eyes,” Mintz stated.
He further spoke about expanding the institutional use of frontier technologies like blockchain by saying “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 added that irrespective of the obvious “fragmentation” among the crypto community regarding ways to use of the technology for researches centered around finding a cure for the virus:
“The large majority of the community has really banded together to create new innovative ways to help fight the virus.”
Speaking about his expectations for a post-COVID world, Mintz stated that after the pandemic, the blockchain community will significantly expand the use cases of the technology beyond just virus-related research seen during the pandemic.
He emphasised on the flexibility offered by the technology by stating that “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.”
“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,” he concluded.