|

China Coronavirus Update: Alipay joins the fight against the virus with a blockchain-based platform

  • Alipay launches a platform based on blockchain to bring credible connections and track supplies.
  • Crypto mining farms are on the government radar as the fight against the Coronavirus intensifies.

Alipay has joined the fight against the Coronavirus pandemic with the launch of a blockchain-based platform that will see supplies tracked. The platform is mostly information-based and geared towards providing real-time data on supplies such as masks, gloves, caps and other protective gear.

At the time of writing, China Coronavirus has been dragonized in more than 28,000 people. About 650 people have been reported dead due to the virus. The worst-hit provinces are Wuhan and Hebei. Attention at the momentum is to ensure that supplies reach the affected areas fast.

Alipay says that its platform instills trust in the network and upholds credible connections. Moreover, all links and confirmations can be tracked and displayed on the chain. The platform has already hit the ground in some of the affected provinces.

As the fight against the spread of the virus continues, Chinese authorities have been zeroing in on cryptocurrency mining farms to ensure that the virus is contained. One farm, BTC.Top led by Jiang Zhuoer as CEO has been forced to shut down operations. However, Mr. Zhuoer is not convinced that the shutdown was necessary as the workers have never left the farm since the outbreak was announced.

“I have a mine in a remote suburb. The police came and forced all the mining authorities to shut down. It is understandable to take a regular… roll call, and strictly prohibit going out, but what’s the benefit of shutting down the mining machine to prevent the epidemic?” He wrote on Weibo.

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Editor's Picks

Ripple technical weakness persists as selling intensifies toward $1.00

Ripple grinds lower, trading around $1.10 at the time of writing on Wednesday. The sticky bearish outlook mirrors the broader crypto market, with major coins such as Bitcoin and Ethereum facing weak demand as investors de-risk.

Crypto Today: Bitcoin, Ethereum, XRP face downside pressure amid investor de-risking

Major crypto assets trade under intense headwinds on Wednesday, as market participants navigate complex geopolitical and macroeconomic environments. Bitcoin has slipped toward $61,000 after its recent rebound was sold near $64,000, leaving buyers exhausted.

Bitcoin Price Forecast: Sticky inflation fears threaten deeper sell-off in BTC

Bitcoin extends its decline on Wednesday, trading below $61,500 at the time of writing as renewed US-Iran tensions keep the risk sentiment capped. In addition, persistent capital outflows from US-listed spot Exchange Traded Funds continue to fuel selling pressure on BTC.

Pi Network extends decline as CEX outflows fail to offset bearish pressure

Pi Network edges lower on Wednesday, extending its third consecutive day of losses. The technical outlook for PI is largely bearish, with a risk of a steeper correction below $0.1184.

Bitcoin: After the bloodbath, everyone looks at $60,000
Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.