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Jpmorgan: Bitcoin Is ‘Overbought’ But Will Suck Money Out Of Gold

The Internet is common to use in every person, and most people use digital currency to buy or for transactions. Cryptocurrency even becomes the medium for salary payment in some countries. Bitcoin is a digital currency type where each Bitcoin is computerized data file stored in digital wallets. Cryptocurrency is developed using blockchain technology where such currency only exists virtually. Each unit consists of a set of data, and every single transaction of this currency is recorded in computerized data files called ledgers.

Blockchain technology uses a decentralized mechanism where no authority or third party involvement is needed during transactions or trading and is non-reputable. Bitcoin prices are reaching great heights nowadays, and cryptocurrency developers do their best to level up security and safety, attracting more potential crypto users. Institutional investors are paying more interest in investments in buying crypto. From recent news at, most of the institutional investors hold a cryptocurrency. People are paying attention due to profits accumulated by cryptocurrency traders. Bitcoins are bought on a large scale during these months stated


Overbuying bitcoin

According to JP Morgan. Many people are buying Bitcoins, and the Bitcoin price rises. And according to Coin telegram reports, reasons for the price rise include institutional investors who bought Bitcoin through off-exchange trading. This leads to a lack of supply availability, and this crisis is being known as a liquidity crisis.

People are buying cryptocurrency on a large scale, leading to a speedup of Bitcoin price rise unlimitedly. And over scale buyers need to keep up the pace to avoid the losses. To avoid the price drop, institutional investors need to keep up the buying. And this also pushes the prices of Bitcoin to a new level.

Analysts claim

According to a grayscale report, crypto assets have reached $13.1 billion under management. This becomes a concern of inflow size where it is” too big to allow any position and winding by momentum traders to create sustained to price dynamic.” Despite this situation, people still buy Bitcoin. Even though the current price levels of Bitcoin are approximating $24,000, it’s still overbought hair spa, the relative strength index that rises above 70.

As the Bitcoin price is rising, gold is losing its place. According to recent findings, new trends are formed by grayscale where exposure to Bitcoin can involve one unit buying of greyscale three units of SPDR gold trust. If this goes on, the gold price can n push down by Bitcoin from the structural flow headwind during the upcoming years.

Due to Bitcoin price rail up to great heights, the mutual relation between gold and Bitcoin decreases. If this goes on, the price rate of gold will have the problem of recovery point. As per the previous suggestions after insurance sent Mars mutual revealed $100 million allocations, it is said that with $600 billion cash investment from institutional investors can benefit Bitcoin to rise. But now, gold is losing its place due to investments in Bitcoin. To keep up the price rise of Bitcoin, institutional investors buying cryptocurrency through trades leads to unavailability of supply and affecting gold price.

Impact on gold vs. bitcoin

If this goes on, the balance between Bitcoin and gold will be affected dramatically and affect gold recovery. Investments in Bitcoin are increasing due to the rise of Bitcoin price, and many people are participating in such trades to acquire profits, as the cost of Bitcoin is rising to new all-time highs. Many Bitcoin trading platforms are inactive state due to the rise of Bitcoin price. News reported that institutional investors might be trying to push up the price of Bitcoin by investing in it. Thus by doing this, there won’t be any negative drop off its price.


Crypto trading becomes a trend nowadays, and many people are investing in it to gain profits. Institutional investors like banks, funding companies who can purchase their targeted properties or assets paying attention for the past few days, and now they are buying Bitcoins on a large scale as recently. Bitcoin price has been rising, .and to keep that pace, institutional buying it continuously through off-exchange trading to the point that its availability is lacking. The continuous rising of Bitcoin prices leads to problems such as affecting gold.  Recent news states that the correlation between Bitcoin and gold has decreased significantly. This over-buying is leading to a liquidity crisis, which will only point up with time. Also, the analyst claims that this cycle could fuel up Bitcoin to an unlimited level. The gold prices will decrease and reach the point where it affects its recovery, and it would suffer in upcoming years. Currently increasing Bitcoin price the correlation between gold and Bitcoin, and it might decrease overly is it continuous at this pace.



The Emergence Of Cryptocurrency Hedge Funds

The opportunities and the potential of digital assets are immense, especially cryptocurrency. They are the future of digital assets and can transform it altogether. Let’s take a better look at this area.

One of the most popular and recent developments should be the crypto hedge funds. Why? This is because, in the conventional crypto funds, there were just private traders and investors. With the emergence of crypto hedge funds,  there is a significant rise in the number of professionals in this market, which is surely commendable. According to the data published this year, 63% were launched in 2018 and 2019.

Proved efficiency

Based on the PwC-Elwood Crypto Hedge Fund’s recent reports, one of the most common and well-known crypto hedge fund strategies is quantitative, which is about 48% of the funds. Discretionary long-only for 19% and discretionary long/short for 17%, and multi-strategy for 17% follows the list.

Another fact based on the annual PwC–Elwood Crypto Hedge Fund Report, the most common crypto hedge fund strategy, is quantitative (48% of funds). It is followed by discretionary long-only (19%), discretionary long/short (17%), and multi-strategy (17%). And according to them, crypto hedge funds are indeed one of the best options out there as digital assets. They have the potential to supply sustainable income.

The future is Crypto Hedge Funds

The majority of the people investing in such an arena are either family offices or individuals with a high net worth. This market is evolving in a pretty significant way and will surely boom in the next few years for the very right reasons.

Based on the sources, the assets of crypto hedge funds have doubled from $22 million to $44 million in just a matter of a year. Isn’t this fascinating? People are ditching their old methods and gradually switching to the new digital means of investing. The former CEO of Prudential Securities also suggested that Bitcoin and other cryptocurrencies are indeed safe options.

In the month of May 2020, Bitcoin had an ideal inflammation, and investors clearly see the potential in the hedge funds. They are potent enough to be a significant part of the additional inflow of capital in their world of investment.

Increase in investor demand

With the transparency and the clarity that regulated crypto hedge funds provides in the market, there is a prominent growth among the investors. As mentioned before, the digits have been doubled by a year. There is a precise prediction that the number might triple by the end of 2020, which is undoubtedly a considerable feat. Compared to the other assets, these are a small sum, but this industry’s growth is insane!

With such growth, bitcoin is surely becoming the digital store of value. The recent hedge inflation indicates that the demand from investors is increasing with every passing day.


The options and prospects of Cryptocurrency hedge funds are immense. Thus, by now, it is pretty evident why cryptocurrency hedge funds are undoubtedly a great deal. Investors are gradually understanding its worth and have started to invest in them. Suppose you are a budding investor and are clearly thinking about investing. In that case, this should be your first choice right now since the old ones are surely outdated, and the new digital assets have clearly taken their place.


Philippines Launches Bond Distribution Platform On Blockchain

In a major step by the Philippines Bureau of Treasury (BTr), they have announced their partnership with the Union Bank of the Philippines and also the Philippine Digital Asset Exchange or PDAX to launch a new app known as Bonds. This new app will be a decentralized ledger technology platform allowing the government to distribute retail treasury bonds. Using the platform, the investors will be able to purchase retail treasury bonds for a minimum of 5,000 Philippine pesos or approximately $100. They will accept payments through multiple options such as online banking, e-wallets, and over-the-counter. The treasury will issue bonds worth 192.7 billion Philippine pesos ($3.9 billion) through the app in the coming months.

After the announcement, Rosalia V. De Leon, the Philippine National Treasurer, issued a statement stating that the new app Bonds will provide an opportunity to Filipinos to invest in new and the latest retail treasury bonds such as RTB-24 and the Progreso Bonds. She further added that the app would increase investment opportunities and allow the Republic to aid in their response to COVID-19 and help in economic recovery.  The new platform will document the transactions in DLT infrastructure along with the legacy centralized system. Edwin R. Bautista, the CEO and the UnionBank President claimed that this is one of the first such DLT-based systems for retail Treasury bond distribution in Asia and around the world. He claimed that the Philippines were ready to use innovation and technology to enhance opportunities and benefit its people.

According to a recent survey, about 77% of Philippines adults still do not have a bank account. Thus, the new platform is designed to allow such residents to invest their money without a bank account. Thus, Bonds form an important platform to bring investment opportunities to the unbanked population in the Philippines. The new app will run on technology allowing the Bureau of Treasury to reduce costs and the time necessary for manual verification and settlement. The Bureau expects the platform to make the bond distribution process easy and economically viable for all parties involved. Even though the app might be targeting unbanked Filipinos, the drive will also help raise the much-needed fund for the government.

Bonds – the new bond issuance platform, is receiving the support of national and international regulators such as the Philippine Securities and Exchange Commission, the Singaporean market regulator, and many other fintech and blockchain establishments. The spokesperson for MAS, Sopnendu Mohanty, said that Singapore’s blockchain community would be happy to work alongside Philippines and share open-source resources, learning and help connect nodes to integrate the ensure market infrastructure to bring in transparency. UnionBank also launched Stablecoin last July to help increase financial inclusion in the Philippines. The COVID-19 pandemic has led to an increased usage of banks’ digital services, and it could easily lead to the end of cash in the coming years.


Europe Has a New Cannabidiol ‘Seed-to-Shelf’ Blockchain Tracking Tool

The users of Cannabidiol in Europe can now rejoice about the fact that they can trace the plant’s journey from plantation to retail stores. It would help the users to monitor the quality of the product closely. It would now be made possible through a blockchain tool named “CanCheck,” which was recently announced by the Cannabinoid Association of the Netherlands (CAN). The association made the announcement on August 6, and the tool would be available for free for the Cannabidiol users to trace the CBD products online for free.

Hempflax, which is one of the largest growers and processors of Hemp products in the European Union, and who is also one of the founding members of the association, would be the first company to offer its product for online tracing in the EU. The CEO of the blockchain company, Mark Reinders, said that the traceability of CBD products from seed to shelf would help protect the customers in their search for quality products. The customers can check the age, origin, quality, and other parameters related to CBD products before going ahead to purchase it.

However, CBD organizations in Europe are not the first to introduce the seed-to-shelf concept. StrainSecure, a North American blockchain-based cannabis tracker, also announced recently that it would be validating medical cannabis products based on their DNAs. In Canada, cannabis is available as well as legal for both medicinal as well as recreational purposes. In the United States, however, the rules and regulations on cannabis products vary from state to state. The discussion on the pan-American removal of the ban on Cannabis products is still underway, and the users hope it would soon be a reality.

Uruguay was the first country globally to legalize the production and sale of Cannabis products. It is also the first country in the world to use the blockchain technology to build an integrated supply chain tracker for Cannabis products. Recently, many of the dispensaries in the United States, where selling cannabis is legal to have started accepting Bitcoin Cash. Recently, the member of the Berkeley City Council, Ben Barlett, purchased Cannabis by using Bitcoin Cash and Stablecoin Universal Dollar (UPUS).

The trend of acceptance of cryptocurrencies in cannabis retail stores is not surprising. It is primarily because cryptocurrencies are regarded as highly and well-accepted in the cannabis world. The developers are working on many other methods to use the blockchain technology at various stages in cannabis plantation to production.


Russian Cybercrime Surged 25x in 5 Years, Says Local AG

Russia’s top government lawyer laments and warns of the country’s burgeoning rate of cyber-crime. Records indicate that the nation had been seeing twenty-five times more virtual crimes over the last few years. The lawyer acknowledged this fact and other relevant topics in an official gathering held earlier this month according to the event records. As technology spreads over more and more minutiae of an average person’s daily life and connects every dot of commerce and capitals, cyber-crime has evolved simultaneously and has become a significant threat to many big nations.

Lower rate of Resolutions:

Matters become worse as with the growing numbers of crimes recorded, the rate of resolving such crimes is decreasing further down. These different tracks have widened the number of pending cases, and thus many victims remain hopelessly waiting for their matters to get sorted out. Their resources are returned. Aside from necessary stealing, cyber-crimes are being committed in even more distressing arenas such as terrorism funding, cocaine, and other substance abuse smuggling and commercial data-tampering. Authorities advise updating the existing outdated modes of tracking virtual illegalities while investing in more robust and self-serving technologies that would fine-tune the department’s approach in rooting out such corruption.

How Does Crypto-Currency Fit into this?

The same benefits and qualities of crypto-currency that had revolutionized the financial industry and trading have now become the bane authorities cautioned it would. Due to the universal nature of the currency, high-level security and anonymity, and lack of regulation by a governing body, crypto-currency has become a favorite among cyber-criminals to conduct their illegal businesses. To think crypto-currency, in one avenue, is helping struggling workers to break the glass ceiling and enjoy a life that they could never get otherwise is simultaneous, in another aspect, is the cause of heinous crimes such as terrorism and human trafficking. One’s heart sinks, and the mind boggles.

Even though many, in Russia, have tried to become stringent in such grave matters and decided to move the judiciary to deal with crypto-currencies with a more laborious hand, their caution has not been mirrored in court decisions as they remain unclear and undetermined. Crypto-currency may have to witness a battle for its soul as the country decides what to do on the matter. While completely wiping its existence isn’t ideal, certain well-designed restrictions may be worth some small sacrifices by the crypto-currency economy.


Iran Issues New Bitcoin Mining Licenses, Cuts Power Tariff

The Islamic republic will support the cryptocurrency operations on registration with the authorities.

Tehran based Mehr news-agency has reported that Iran has issued permits for fourteen cryptocurrency mining farms. The capacity of each of these farms is around 300 megawatts. The decision is also to remove electricity tariffs by 47% to support these authorized centers.

Since July of 2019, Cryptocurrency mining has been an authorized activity in the Islamic Republic of Iran. The country’s Ministry of Industry, Mine, and trade has already issued more than one thousand licenses to these crypto miners. But, all such farms are not in operation currently. In May 2020, Iran licensed iMiner, a bitcoin enterprise of 7.3 million dollars. Reports tell that iMiner has its crypto mining operations established in the Seaman Province of Iran with around six thousand ASIC miners.

Just like other major Iranian cities, Tehran has a bustling subculture of cryptocurrency and blockchain enthusiasts. Many formal organizations, like the Iranian Blockchain Association, exists along with informal groups of lobbyists, students, researchers, and enthusiasts to develop the culture. These active groups meet regularly in local hubs, host podcasts, and operate committed websites. Discussions on the latest technology, tips and warnings about scams, and debating on the virtues is a major part of these meets. Some reports from 2019 also revealed mining operations being set up in mosques.

Nonetheless, Iran is continuously trying to combat several miners who are smuggling their equipment into the country. The deputy head of Iran’s power generation, distribution, and transmission company (Tavanir), Mostafa Rajabi Mashhadi, revealed that the Iranian government has found more than one thousand active illegal cryptocurrency mining farms across the nation.

Miners from all over the world are converging in Iran, because of the highly subsidized electricity rates. Reports and statistics reveal that mining farms in Iran are paying only around $0.01 to $0.05 per KiloWatt-Hour of electricity. However, from June to September, which is the peak summer season, the electricity rates rise by four times. Now, with the above crypto mining-supported decision, the distribution and transmission company will cut the electricity tariffs up to 47% for miners even in the peak summer season.

Mostafa Rajabi also told that this tariff cut aims to provide support to legal mining farms in the peak seasons and for availing incentives, the miners can participate in Tavanir’s recent efficiency plans. An example can be the ongoing projects to replace one million old gas-powered Air Conditioners with energy-efficient ones.

However, the decision comes with a piece of bad news for miners. It says that all the cryptocurrency miners will have to make registrations with the government. Eshaq Jahangiri Kouhshahi, the Iranian Vice-President, announced that miners will have to disclose their identity with the ministry of Industry, Mine and Trade along with the size of their mining farms, and also the type of equipment they are currently using.

Another noticing point is that mining is not the only Crypto activity in Iran and their president is interested in considering a Muslim Cryptocurrency to loosen the United State’s grip on global financial structure.


Korean exchanges struggle with expansion amid uncertain regulations

With the change in currencies from physical to virtual, there are also many countries which are in favor of having strict rules for the use and exchange of cryptocurrencies. Hence the market for the same is not yet opened as expected by the users of such currencies. The market for cryptocurrencies is losing a lot of international traders in South Korea as there is huge uncertainty over regulations. Authorities from South Korean exchanges expressed their problems in this regard as they are not able to provide fiat trading options through authenticated bank accounts.

A temporary solution to the problem

Some exchanges have partnered with internet-only banks, and this partnership will allow them to offer fiat trading for investors in this region. However, this is viewed only as a temporary solution and much needs to be done to improve the situation in the long run. The facility will somehow work only for Korean nationals as the regulations bar foreign nationals from opening an account with banks that offer only internet-based services.

The problem for non-Korean traders

With this sudden move, non-Korean traders are upset a lot as they have to remove their funds from the exchange now. The exchange officials said that they have no other choice in this regard as regulations bound them, and they have to stick to regulatory compliance by barring non-Korean citizens from the exchange. In a similar move, other exchanges based in Korea like Coinone and Korbit have also made a stringent authentication process, and this will also remove foreign traders from the exchanges. They are now asking for a domestic mobile number in order to participate in the trades on the exchange. As the foreign nationals will not have such facilities, they will have to move their funds to other exchanges.

20% tax on profits

The non-resident traders are paying taxes higher than 20% when they withdraw their profits. The regulators have only imposed 20% tax, and the exchange is collecting additional money just to safeguard the traders when new regulations come into effect. As the government is yet to confirm the exact rates of taxes, the exchanges are now charging slightly higher rates so that it will help traders to settle the transactions in an easy way. The exchange authorities clarified that if the taxes fixed by the government are less than 20%, they will make refunds to the traders.


Monex Becomes The Very First Securities Establishment From Japan Offering Cryptocurrency CFD

Monex Group Incorporated (aka-Manekkusu-Guru-pu-Kabushiki-gaisha) is a financial services company based in Japan, Tokyo city. The primary subsidiary of Monex Group Incorporated is Monex Securities.

Monex Subsidiaries

The primary function of Monex Securities is engaging in online securities trading. It was founded on the 5th of April, 1999. It has other subsidiaries like

  1. Monex Inc
  2. Monex Securities
  3. Monex Boom
  4. Tradestation
  5. Coincheck.

It is a firm that has been successful in providing services on a global scale. However, this is not something to be discussed here now. The news is that this firm, Monex, has turned out to be successful enough to become the first company to get itself land to offer cryptocurrency CFD. Let’s get into more details.

Monex Securities to be the First Company from Japan to Offer Crypto CFD

The very prominent online securities providing company Monex Securities is the first company from Japan offering cryptocurrency CFD. It has just come up with the inauguration of a contract or settlement in cryptocurrency for different services on 8th July 2020. This is something to happen for the very first time. A well known Japanese business of securities is offering a cryptocurrency CFD.

Now, do you know what CFD means? For your information, CFD is basically a category of derivatives where the one who is buying the contract makes a payment to the one selling. The payment is basically the amount varying between an asset’s present cost value and the cost of that asset at any future date set out in the agreement or the contract.

Some Reports from Monex Regarding this Matter

Based on the announcement made by Monex on 8th July 2020, the CFD will be very much obtainable for Bitcoin per yen, available for Ether per yen, XRP per yen, and also for Bitcoin Cash per yen for pair trading.

The limit of the rate of the purchase or the rate of leverage is two times. Monex also made a statement in a report that they would be taking the addition of a bunch of fresh coins into consideration after pondering the risks of liquidity, the danger of price fluctuations, demand along with the perils of the crypto blockchain network.

The root of the Monex Securities firm or the parent company of Monex Securities, Monex Group Incorporated, is running Coincheck as well. This falls under the most prominent cryptocurrency trades going on in Japan.

Last Note

On 1st May 2020, Financial Instruments and Exchange Law (in short, FIEL) was imposed and revised by the government of Japan. This newly enforced law states, businesses need to be listed as a Financial Instrument Business if they are offering trading on crypto-derivatives.

Monex Securities will be coming up with the freshly launched crypto derivative facility as a financial tool that would be under the regulation of the FIEL. Hopefully, you got the exact info you were looking for.


South Korea Keeping a Close Look at the Crypto Transactions In The Wake Of Current Scandal

Based on the reports, the South Korean government agency is targeting to keep track of crypto transactions that were executed on the dark web. Those transactions were done by building up an AI-based (Artificial Intelligence) software.

KISA or the Korea Internet and Security Agency shows interest in developing AI-based software. It will be used to track down crypto transactions on the dark web answering to the Telegram Nth Room sexual ring case.

The New Daily Report

The South Korean government is working on several solutions from January this year. They have confronted many hurdles while the investigation on the child porn case was going on. That platform is where anyone would be able to gain access with money to the videos with sexually explicit content having minor.

The KISA also said that a software application depends on machine-learning technology. It automatically monitors inside South Korea’s dark websites that operate various crypto transactions.

Reports have also uncovered that the authority was instructed to supervise operations in the VASP or the Virtual Asset Handling Office. In order to test the software, the government is all ready to get into a pilot phase and running by 2022.

Challenges Faced by the Authorities while Continuing the Investigation

An unsure prediction is made, and that is the mastermind behind all of these muddles is Cho Joo-bin. At present, he is in police custody.

  • The first big problem is he is not ready to accept a single charge. He denies cooperating with the police and the investigators in this case. This is one of the main reasons why this case is facing so many difficulties in getting solved.
  • Then, the challenges again became harder as the maximum number of transactions done through the ring were in Monero (XMR) to reinforce the invisibility.
  • The investigators are also panicked about the rise in crypto-related dark web trades that took place within the century. Marketing volumes increased by 1.5% in comparison to the 2018 figures.

Funding by Private Organisations and the Govt.

  • On the basis of the figures disclosed by the agency, 1981 billion Won, that is around 1.64 million USD, of money and 0.9 billion Won, that is 6.5 million USD – 6 billion Won, that is 4.9 million USD, in government contributions will be invested in the making of virtual asset scam monitoring technologies and platforms by 2023.
  • A court in South Korea passed an order. The order was a freeze on each and every crypto wallet on the 2nd of June 2020.
  • The court also put an order for the freezing of all the securities deposits and stock accounts that somehow have any link with Cho Joo-bin.

Each and every fund within the seized accounts is in the list of suspects of clearing the profits that the defendant would have captured as the planner behind the Telegram Nth Room.


That was all the details about the crypto transactions in South Korea highly connected with the dark web. Hopefully, you got all the info you were looking for regarding this menacing event.

The good thing is that the world became much aware of these unlawful acts, and people would be very careful using crypto transactions from now on.



COVID-19 Accelerates Digital Innovation and the Breakdown of Analogue Living

COVID-19 has shown has a mirror. It has proved that life can be taken away from us in the blink of the eye. Doctor, nurses, and other front-line workers are important to save many lives. This pandemic has proved that if we unite as a nation, our people can live a normal life even in these uncertain times.

More than anything, the economy of every country is at risk. Stock markets are performing poorly, companies are shutting down, and employees are getting laid off. With revenues going to zero, it has become hard for every business to survive.

Although government authorities are stepping forward to save the economy by providing tax relief and distributing food for the poor. These steps are essential to prevent a complete collapse of the economy.

During the current situation where the world is suffering the consequences of pandemic spread, it has become essential to have economic facilities. Before the COVID-19 people used to rely on paper for major communication and recording. But now things have changed.

It is completely difficult to recover from the side effects of this pandemic even in the coming years. But we can take innovative steps to prevent the further spread of this virus. For example, the complete digitalization of otherwise analogues aspects can prevent touching every other thing.

Digital payment has become the current normal. Because it doesn’t require to touch pin pads or cash. Many individuals and businesses were surviving without a digital mode of payment. But now they have realized the benefit of using digital payment methods. Blockchain and Fintech services can be utilized to avail of advanced solutions in many sectors.

Another factor worth mentioning here is remote working. Major players in the business sectors have decided to stay remote to some extent. It saves time and money because of least commuting and also increases productivity. It can be beneficial for those employees but at the same time, also has some disadvantages.

Digitization was already getting a lot of hype but this pandemic has sped up the things. When multiple industries have adopted digital technologies, it can have a major effect. Digital mode of services is not only quick and effective but it is also secure and instant. Blockchain technology, for instance, is the perfect example of such technology.

Adopting technology in any industry can facilitate transparency, affordability, and efficiency. Healthcare is a perfect example of a business that requires all these features. Having paper-based records of patients is not feasible in the current situation. Many hospitals and clinics are stuck in the same scenario for many years.

Whenever they have to access the record to check the data of a patient, they rely on cabinets stacked with numerous files and papers. It is not safe to do so in this situation. Being the most secure technology, Blockchain can provide a solution to this situation.

Blockchain technology can revolutionize the healthcare industry. It can save a lot of money in terms of highlighting malicious practices in the healthcare market. According to a report, Blockchain can save $100 billion in the healthcare industry.

It prevents errors that are often the result of human-made mistakes. A research was conducted in the United States confirmed that 250,000 people die due to medical mistakes in the country every year. Because of the permanent storage of Blockchain data, it is impossible to delete it ever. Thus, it can save many lives.

It also eliminates any chance of confidential breaches. Believe it or not, Blockchain also improves the research process in the medical field. It provides a single place where entire medical research data can be saved and whatnot.

It is clear that COVID-19 has devastated many countries in terms of economy and other factors, but it has also brought some changes. Businesses and individuals are adopting evolving methods that are beneficial to them. Everyone is walking their path to bring a change in their business and life.

Governments, on the other hands, are making changes that will support its citizens. In short, many things have changed in this dire situation that would not have been taken otherwise. It has revealed some holes in the system and how much outdated it was before it all began.