- 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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.