The State of the Global Blockchain Industry under Corona Virus Panic
Just over half this week, it is already a “black week.” Affected by the new Corona-19 Virus epidemic, the Federal Reserve’s emergency interest rate cuts and other factors, the global financial market continued to be volatile.
After March 9th and March 12th, on March 16th, U.S. stocks melted down again, and major global stock markets fell. As a result, People joked: “Recalling the last meltdown in the history of U.S. stocks, it seemed like a few days ago.”
Correspondingly, the previous market situation of the blockchain market is also a cloud of misery, and the trend of continuous decline has made many investors discouraged.
However, looking back at the history of human society, “peril” and “opportunity” always coexist. The shortcomings exposed by the epidemic prevention and control are obvious. In fact, the problems of transparent donation information, traceability of items, and privacy protection are actually forcing the accelerated development of big data, blockchain technology, and artificial intelligence.
China is undoubtedly at the forefront of this point. As early as February, Alipay officially launched an epidemic prevention material information service platform, which is different from other material information platforms. This platform uses ant blockchain technology and is led by the Zhejiang Provincial Health Construction Commission and the Economic and Information Bureau. Information on supply, transportation and other links will be reviewed and stored on the chain. At the same time, Alipay also provides blockchain program power to the epidemic-related small program developers for free forever and special funding support.
According to Alipay’s official introduction, in public health emergencies such as New Coronary Pneumonia, the recipient may not be the final recipient and needs to be distributed by a third party under unified management. However, no matter how many links go through, the blockchain’s entire record is kept, the parties confirm that it can’t be changed, and can be traced efficiently. In addition, there are many blockchain applications in the bud.
What is happening at home and abroad? We have conducted research through many overseas ambassadors. Below, let us understand the development of the blockchain industry around the world through their perspective.
Indian community:
According to the blockchain development , India is doing good..
Infact government also believe in blockchain and doing working in this field, lots of exchanges also doing good to help crypto transaction, like Bitbns, Wazirx, Coindcx, Giottus,
wazirx partnership with Binance and Bitbns and Coindcx partnership with Okex, so you can understand how the two worldwide popular exchanges are eyes on Indian market…
lots of developers coming from India and work in many crypto projects like Harmony, Perlin, Raven protocol, Matic network, Tezos etc…
Indian crypto projects doing very well, you can see matic, marlin protocol, fesschain, zebi, cashaa,
Infact some big names like ethereum, ada, tezos, and cosmos team also establish his foundation in India also..
Indonesian community:
Indonesia is one of the major countries in the world. so, there are many investors and the Indonesian crypto community. To be able to serve investors and a large community, the largest exchange opening in Southeast Asia is the Indodax Exchange which has offices in Jakarta and Bali.
(https://twitter.com/indodax/status/1237604189573808128?s=20)
Indonesian people like to trade and invest crypto because there is no third party or a big tax from the government. There are several stores in Indonesia that accept crypto payments with quick transactions through BlockHain.
https://indodax.com/login（https://twitter.com/indodax/status/1237604189573808128?s=20）
Vexanium list on dapp.com
Vexanium is from Indonesia
https://blockchainmedia.id/survei-terbaru-10-persen-orang-indonesia-punya-aset-kripto/
a survey of 10% of Indonesians own Crypto assets. one of the reasons I’m interested in blockchain and buying Bitcoin and Altcoin is for example “If I buy 1000kg of Gold and move it to another country, there will be a lot of cost and energy spent! “
But, if I buy 1000 Bitcoin and move it to another country with blockchain technology. Is it as complicated as moving 1000 kg of Gold?
African community:
Blockchain adoption, awareness, and education in Africa is on the rise, from recent times there has been a huge report of how the traditional narrative of BITCOIN getting more exposure and awareness, but blockchain communities and adoption in Africa has grown far beyond Bitcoin usage, although a very large part of the enthusiasts and users are still very much focused on Bitcoin.
Africa has been tagged the future of bitcoin in recent times, I believe this is because there is obviously a large gap of remittances and decentralized banking that could be covered using blockchain technology itself. Bitcoin Adoption is predominantly in 5 African Countries, as BitcoinAfrica.io reported recently, most bitcoin adoption is occurring in five African countries. We noted that three African countries ranked in the first ten for the search “bitcoin” on Google Trends. In the past three months though, Nigeria, South Africa, and Ghana have now taken the first three spots respectively. The other two countries we mentioned were Kenya and Zimbabwe.
Paxful, one of the biggest peer-to-peer exchange in Africa, said the continent accounted for the highest number of new subscribers per month in 2018.
Aside from remittances and borderless transactions that can be achieved using blockchain, there are a handful of other use cases that have been recognized from transportation to the gaming and lottery industries, reports of companies utilizing decentralized ledger technology (DLT) across the continent are emerging. Several stakeholders in the African blockchain scene say DLT is the key to solving the developmental issues plaguing the continent as a whole. They also believe the technology provides a platform for Africa to elevate itself to a position of greater relevance in global affairs.
In terms of government appraisal of the technology African countries have been quite indecisive in their gestures, many countries are neutral and unbothered, few are warning citizens against the virtual vibe while very few are looking at adopting and have released official wording as regards the technology and space. In the midst of uncertainty and indecision by government certain Countries Nations such as Kenya and Nigeria have announced plans in recent months to pursue regulation and greater cooperation with the private sector to leverage the benefits accruable from blockchain utilization.
Nigeria, in particular, has one of the largest fintech communities in Africa followed by Kenya, the presence of tech-savvy communities has helped a lot in the growth of the blockchain communities in these regions and attracted a handful of existing/listed projects to create communities and incubation hubs in Nigeria, also there are several blockchain startups which are natively from Nigeria. There have been several interests in the incubation of startups in Nigeria with the likes of Binance launching a 10week incubation program for startups in Africa to the tune of USD120,000.
As part of the adoption seen and noticed in Nigeria the Nigeria Union of Road Transport Workers (NURTW) and a group of partners in the private sector have already launched a blockchain-based scheme targeted at improving interstate road transportation. Stakeholders of the project say the program will improve safety, record keeping and insurance for road travelers. This is an instance of use cases and adoption in Nigeria, also on a smaller scale there is a test of e-voting systems on blockchain in several universities in Nigeria using platforms like aeternity.
Aside from the above engagements in blockchain Africa Has Several Local Exchanges that are Pushing Adoption, It is often said that innovation drives adoption and eventually legislation. Currently, local exchanges are at the forefront of innovation in the crypto industry and driving adoption on the continent.
There are now several exchanges that offer Africans the opportunity to buy and sell bitcoin and other cryptocurrencies using local currency. Luno, Btfxt, Ice3X, Golix, and NairaEx are some of the longest-standing, and more recently launched ones include Guava, Quidax, and Bitmama.
African cryptocurrency exchanges — allowing people to trade several digital currencies against local currencies — have presented a valuable prospect in the short term for crypto adoption. We expect more exchanges to launch in Africa in the coming months and years, especially in countries that are still underserved by existing trading platforms.
It is vividly noticed that adoption in Africa is definitely on the rise as several projects and products are being launched also several events such as conferences and meetups are hosted from time to time on the continent, this is definitely the beginning of adoption in Africa and much more is expected to fall in with time.
Turkish community:
Last week first corona virus seen in turkey and minister of health made a statement about corona. He said there are more corona virus patiences. After this everything is changed. People suddenly panicked. Really it was very interesting. people overreacted. people attacked the markets for shopping. Prices of cleaning and antipyretic things have increased. For example Turkish people uses cologne too much.. They said cologne is very good protector and cleaner and then people attacked cologne and cologne price is 10x increased. Yesterday schools are closed and there will be online education. Every meetings are canceled. Also i have 2 friends who are working at tourism sector. People canceled their vacation plans. Really this is a very good lesson for the world. Corona virus is a warning and shows that every one in the world are brothers and sisters. We are living together. If we take our lesson everything will be better.
Ezcacıbaşı company and turkey blockchain platform are developing some blockchain projects ..Especially the customs minister, etc. There are projects carried out with ministries.Exchange Istanbul ( BIST ) launched a blockchain project on gold commodity. People do not know the blockchain too much, they do not know the benefits, but the cryptocurrency adaptation is very high, they use it only for speculation. We can say that there is a superficial awareness about blockchain! Blockchain dapps are not very common, there are some projects but they are not strong in terms of R&D, copying ready solutions or making minor contributions.
Korean community:
Blockchain technology is used in a number of fields in Korea. For example, blockchain technology is used to manage container ships in ports in Busan, a port city, and insurance companies have already incorporated blockchain technology.
In Korea, the perception of blockchain technology is generally good. Internet giant company, Kakao has established a subsidiary called GroundX and launched its own blockchain, Klaytn. Naver also made its own blockchain platform, LINK, through its subsidiary Line in Japan.
For this reason, Korean people’s perception of blockchain is higher than any other country.
Currently, a dapp widely used in Korea is Klaytn bapp. ‘해먹남녀’, ‘Antube’, ‘핏츠미’
