Will Blockchain And Crypto Be Used By Countries After COVID-19 Is Over?

Blockchain and Crypto Virus Corona

Kanalcoin.com – During the COVID-19 pandemic, it has created a precedent where governments around the world are implementing the most draconian measures to lock down entire industries and also make people stay at home. In fact, some governments use high-tech surveillance systems to track their citizens.

Previously it was more than a decade ago, Satoshi Nakamoto launched a smart system in the form of virtual money based on Blockchain and Crypto which can be adopted globally without fear of government interference or corporate control (barring the threat of attack, around 51% which is very unlikely). But what if this same technology that was originally created to save society, is actually used against society?

Like in China as the country where the corona virus started, where the country has implemented a large tracing system on its people even before the pandemic. Last year, China’s social credit system used Artificial Intelligence (AI) and a large network of surveillance cameras with facial recognition to alert police. So with that people get a score for each behavior, which can result in a penalty or allowance depending on the score rating of each. While in some areas a system that is said to be abusive has already been piloted which governments will adopt on a national level in the coming years, it will probably use Blockchain and Crypto to store data. Because President Xi Jinping has praised the technology in a move that has shocked the Crypto community.

Not only China, several countries are also using Crypto and Blockchain technology during the COVID-19 pandemic. Israel has recently been flexing its muscles and using anti-terror technology to track individuals suspected of having the new disease. There are even apps where one can check a map of the infected area at any given moment. It seems that America under the Trump administration, also wants to use a tracking system like Israel. But the White House is concerned about the reaction of its public.

Actually with no tracking system for now, the government has imposed drastic measures before. Coupled with the temporary condition of the virus threat getting more serious, there is something new that is worrying, namely that the government will not relinquish its authority after the pandemic is over. Even a former CIA agent, Edward Snowden, who leaked the United States’ surveillance methods, where he believes that surveillance countries or surveillance systems use Blockchain and Crypto to stay or continue to be used. This is because emergency measures that have been passed as they are today will tend to stick or settle down, and can even be expanded. That’s why the authorities then became comfortable and liked with some of these new powers. So in this case the government starts like a surveillance system.

Blockchain and Crypto concepts also have a tendency to turn against. This is due to the notion that virtual currencies could literally wipe out physical cash for years to come, and allow governments to gain total control over individual finances. So this could become a global phenomenon as major central banks around the world are seriously considering issuing digital currencies. Especially with a COVID-19 pandemic like this, of course it will push the government to throw away cash as soon as possible, but that doesn’t mean society will win from this.


Redaksi Media
Author: Redaksi Media

Cryptocurrency Media

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