Chinese Companies To Continue With Blockchain Adoption Despite COVID-19

The digital asset industry in China stays positive and optimistic about the on-going rise of cryptocurrencies even during a worldwide pandemic. A new survey reveals that companies remain relatively proactive and bullish on blockchain despite the COVID-19.

70% Of The Surveyed Companies Uphold The Industrial Blockchain

According to a recent survey published in Xinhua, a significant number of Chinese companies are keeping their chin upon the development and integration of digital assets during, and hopefully after, tough Covid-19 times. The results come from among 350 Chinese companies in 10 different industries who have something related to blockchain and digital assets in general.

The study says 70% of the participants tend to think blockchain technology will be flourishing during and after the Covid-19 pandemic and will keep up the bullish attitude for a long time. 20% believe they will invest even more in such projects, as a reasonable way to minimize the effects of the economic turning point.

Many of the surveyed industry experts are sure that “industrial blockchain deeply serves the core body of social production-enterprises, not a blockchain system that everyone can participate in. As a trusted data network between enterprises, blockchain solves the problem that traditional centralized databases cannot generate trust among enterprises and solves the trust problem of multi-party collaboration. Therefore, it is accepted and recognized by more and more enterprises”.

China Keeps Pushing Towards Blockchain Development

According to the survey, the technology might come in handy in a variety of fields and public services, including pandemic prevention, control, monitoring, and delivering important data to medical institutions, which is obviously of high importance during and even after the pandemic.

Blockchain is being supported by more than just the true believers. There are numerous companies that urge to keep developing it in China.

As CryptoPotato recently reported, social media and tech giant Tencent Holdings launched a special project to guide and support 30 blockchain-oriented companies who might become pillars in the industry.

The Chinese government also doesn’t stand aside inert. In a recent national program, the country tapped a number of tech moguls to step on board in the development of standards for the use of technology across several industries connected with blockchain.

This article was first published on: Jun 17, 2020