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Despite COVID-19, China is Optimistic about Blockchain

Chinese companies remain relatively proactive and bullish on blockchain adoption despite the ongoing global pandemic, according recent survey published in Xinhua.
news - Despite COVID-19, China is Optimistic about Blockchain

Chinese companies remain relatively proactive and bullish on blockchain adoption despite the ongoing global pandemic, according recent survey published in Xinhua.

The survey included 350 Chinese companies in 10 different industries who have something related to blockchain and crypto-assets in general. According to the survey, 70% of the companies tend to think blockchain technology will be thriving during and after the global 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. 

China is currently testing its national digital currencies in four cities. It is expected that the Asian country would issue the digital currency dubbed as DC/EP sometime this year.  

As a reminder, since the beginning of this year, 714 blockchain firms have entered the market in China, according to cryptocurrency data firm LongHash on Jan. 26. From 2009–17, the annual number of founded blockchain firms remained relatively static, before a notable jump upward in 2018.

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