China Uses Blockchain to Mitigate Coronavirus Damage

With the coronavirus outbreak, China has been forced to delegate close to 80 billion dollars in funds in attempts to control the spread of the virus. However, possibly the most damaging economic fallout from the coronavirus is it’s impact on the small to medium sized businesses that make up over half of China’s economic power. With Chinese businesses under an inordinate amount of pressure from the virus outbreak, stemming from loss of employees, mandated extension of holidays, and other friction, the flaws experienced in Chinese business practices are becoming even more threatening. In general, many businesses in China feel distrust towards fellow companies as they struggle with data sharing

Impact of Corona Virus on the Chinese Economy

With nearly 12,000 people infected and 250 confirmed deaths in the last month, the Chinese centralized Corona virus continues to shock the world with it’s aggressive transmission rate and lethality. Not only does the Corona virus pose a drastic threat to the health of Chinese citizens, but also to the Chinese economy. The Chinese government has already begun to flood the medical field with billions of dollars in attempts to contain the virus and help possible victims maintain their health. Last Wednesday, the Chinese government claimed it has already dedicated 27.3 billion yuan in subsidies, approximately 3.94 billion dollars, to aid Corona virus prevention and containment. Although the impa

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