One of the great victims of the Coronavirus crisis has been the world economy. Which will face in 2020 a recession of a magnitude not seen since Crack ’29. This includes major powers such as the United States and China, which are likely to face reductions in their GDP. Reason why Changpeng Zhao, comments that China will bet on the Blockchain to recover its growth in our Tweet of the day:
Will China bet on Blockchain?
A common comment in recent days about the Coronavirus is that the disease born in Wuhan has accelerated history. Making trends that until now could only be seen on the horizon, become topics on the current agenda. Including several of the technologies of the Fourth Industrial Revolution, such as Artificial Intelligence and Blockchain, which were just taking their first steps.
However, if the world wants to recover from the economic shock to which it has been subjected due to the pandemic, it will have to take advantage of the value offered by technology such as Blockchain. Which can serve as a basis to build more efficient and productive economies around the planet.
China knows this very well. And it is that, even before the outbreak of the crisis, the Asian giant had already been investing heavily in Blockchain, automation, 5G and other technologies. With the aim of taking advantage of them to boost their economy, a process that now becomes much more urgent.
Reason why Changpeng Zhao would have commented on his Twitter account that China will bet on the Blockchain to recover its growth:
“China is focused on rebuilding its economy after the C19 pandemic, including a boost to the Blockchain-based economy.”
Along with this comment, Changpeng Zhao reportedly included a link to an article, which talks about the latest advancements in the Chinese government virtual currency. This would illustrate his comment on the great boost that Blockchain could receive from the Asian giant, as a means to overcome the crisis caused by COVID-19.