Chinese companies will bet big on blockchain despite the crisis COVID-19

A survey of 350 Chinese companies revealed that the pre-VID-19 corporate optimism about blockchain is still alive in the region.

According to Xinhua, the study, called „Blockchain in the Post-Epidemic Era,“ showed that 70% of companies surveyed before the coronavirus outbreak remain optimistic about the potential of blockchain technology. Up to 20% believe they will invest even more to mitigate the effects of the crisis.

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Most believe that the implementation of Cryptosoft technology could help the national economy recover from the financial ravages of the ongoing pandemic.

Respondents come from 10 different industries, including specialized firms related to blockchain, manufacturing, trade, supply chain management and finance.

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The experts quoted in the survey said:

„Industrial blockchain profoundly serves the central body of social production enterprises (…) As a reliable data network between enterprises, blockchain solves the problem that traditional centralized databases cannot generate trust between enterprises and solves the trust problem of multiparty collaboration“.

Researchers agree that blockchain technology is considered the „most effective way to fight disasters.

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Confidence remains intact despite the crisis
Although the sudden outbreak of COVID-19 forced companies to halt their development, the study says that confidence in blockchain has not diminished.

Cointelegraph reported on June 7 that a blockchain-driven pilot program will provide a wide range of notarial services in Suzhou, China.