Armenia can use blockchain technology in struggle against corruption - Afeyan

YEREVAN, October 15. /ARKA/. Armenia can use blockchain technologies in struggle against corruption, Noubar Afeyan, one of co-founders of Aurora Prize and one of the prominent entrepreneurs in the United States in bio technology and medicine bio sciences, told journalists on Monday.   

He said he is in touch of blockchain technology development and is interested in using it in pharmaceutical industry and in agriculture.

In his opinion, blockchain technologies can also be used in social assistance. He said these technologies can make provision of benefits to socially vulnerable categories of people completely transparent. They will leave no room for corruption.   

Stressing the importance of blockchain technology, Afeyan said it will allow attracting not only investments, but also charity financing and people should be convinced that the financial resources are used in due way, without mediators.

Afeyan said that it is possible to use these interesting and promising technologies for carrying out various transactions. They will make every deal transparent, since blockchain technologies leave no room for fraud.

Along with that, he said he is skeptical about the use of blockchain technology only for crypto currency. He said in some countries they had been used in fraudulent schemes. -0---