As China mobilizes nationwide against the COVID-19 pandemic, the practical value of technologies like big data and artificial intelligence has become clear for all to see. Yet blockchain—another innovation highly anticipated within the tech sector—has not taken center stage during this crisis as many had expected.
Recently, Beijing Business Daily spoke with multiple blockchain practitioners and experts to explore how the industry is responding to the pandemic and to assess its current state.
Some in the field candidly compared blockchain’s role in this pandemic to that of a child—perhaps not yet ready for a major test. Others stressed that blockchain organizations must improve team-based operations, and that leaders need to strategically leverage overseas partners during the outbreak.
Blockchain Grapples with Efficiency Challenges
A term that has gained traction in the blockchain world during the pandemic is “distributed” remote work.
Li Xian (a pseudonym), a blockchain professional, marked his tenth day of “distributed” remote work on February 9. He explained to Beijing Business Daily that this model allows teams to collaborate online from anywhere—similar to many anonymous developers in the blockchain space who work regularly without ever meeting in person.
“You never know if the person on the other side of the screen is a lovely young woman or a scruffy man…” Li joked. While remote work is common in blockchain, maintaining efficiency requires daily check-ins, online meetings, and progress reports. Tasks that can be done online proceed normally, but business development and partnerships that depend on face-to-face interaction have been hit hard, with many collaborations postponed or canceled.
Li had planned a business trip to Wuhan before the Lunar New Year, but it was called off due to the outbreak. Visits to other cities are also on hold. Despite adopting remote work, issues with efficiency and communication persist.
Another blockchain worker, Liu Gang (a pseudonym), hasn’t washed his hair in five days and spends his time alternating between eating and sleeping. Unlike Li, Liu left his job at a blockchain startup at the end of 2019, hoping to start fresh in early 2020. Instead, the pandemic struck before he could find a new role. Now stuck at home, his main wish is for the outbreak to end so the industry can recover.
“The pandemic’s impact on blockchain is a mixed bag,” Qin Ming (a pseudonym), head of blockchain at a large internet firm, told Beijing Business Daily. On one hand, it poses a severe test, disrupting business development and project coordination—especially for small and medium-sized enterprises that were just finding their footing. On the other hand, it serves as a wake-up call: for healthy, sustainable growth, the industry needs stronger technological foundations, business models, and ecosystem maturity to withstand external shocks.
Qin acknowledged that some of his company’s operations have been affected, particularly joint projects with government and institutional partners that require extensive in-person coordination. “However, our ongoing product R&D continues smoothly thanks to established processes and frameworks,” he added.
On-Chain Data, Incomplete Ecosystem
Despite operational constraints, the blockchain industry is contributing to the fight against COVID-19 in its own way.
Blockchain’s trust mechanism enables credible connections during the crisis. Several organizations have launched initiatives: some use consortium chains to record donation data, enhancing transparency and traceability for funds and supplies. Others have introduced China’s first blockchain-based epidemic monitoring platform, tracking real-time outbreak data across provinces and logging it on-chain.
On February 7, Alipay launched an epidemic prevention supply platform powered by Ant Blockchain, verifying and recording information on demand, supply, and logistics. It also offers free blockchain computing power and financial support to developers creating pandemic-related mini-programs.
Du Xiaoman is also stepping up efforts. The company is exploring blockchain applications in traceability, evidence preservation, process governance, and user engagement—aiming to ensure data accuracy and involve users not just as donors, but as supervisors tracking the flow of funds.
Liu Feng, Director of the Blockchain Technology & Application Research Center at Shanghai University of International Business and Economics, noted that blockchain builds trust through technology and algorithms. It can address public concerns about charity credibility by using distributed ledgers and immutable records to manage branches as nodes, deploying smart contracts based on regulations, and publicly displaying supply chains via blockchain explorers.
Yet challenges remain. Qin Ming pointed to weak foundational capabilities, underdeveloped core technologies, fragmented business scenarios, lack of standards, and an incomplete ecosystem as interconnected problems.
“Why does blockchain seem flustered, like a child, during this stress test? Even specialists in traceability and evidence preservation find their tools inadequate. This shows the industry is still early and may not be ready for a major exam,” Qin said.
Liu Feng added that while some institutions have acted, anticipated applications like information traceability and disintermediated finance haven’t been deployed effectively in the pandemic response. This underscores the need for real-world implementation. The crisis has also exposed performance challenges, as many emerging technologies struggle under sudden traffic surges.
The Path to Incremental Growth
Despite hurdles, several interviewees believe the pandemic presents more opportunity than challenge for blockchain.
As Liu Feng put it, “While some startups may see shrinking business, ‘distributed’ remote work and online consumption have created huge incremental demand. Blockchain, built on decentralized collaboration, is less impacted than traditional businesses reliant on offline operations.”
Chen Wenjun, Professor at Fudan University’s Zhangjiang Institute and Executive Director of its Digital Economy Research Center, sees both tests and opportunities. The tests include maintaining development timelines remotely, competing with unaffected foreign firms, and collaborating with partners during the outbreak. However, she notes that demand for digital government services has risen—an ideal scenario for blockchain—and industrial digitization has accelerated, boosting adoption.
In Chen’s view, institutions must strengthen team-based remote operations, and leaders should strategically plan how overseas branches and partners can play key roles.
Liu Feng emphasized, “Blockchain organizations must deeply integrate technology and business in specific contexts. Only by improving accuracy and efficiency can advanced solutions become part of daily life, boosting public satisfaction and service quality.”
“In pandemic response, the priority isn’t to hastily deploy blockchain just for show. The fact that it didn’t take the spotlight in this stress test isn’t shameful—what would be shameful is cutting corners for attention. Instead, the industry should calmly reflect on its challenges, direction, and shortcomings, then work diligently to build a solid foundation for sustainable, low-key growth. In 2020, we hope blockchain avoids hollow hype. Perhaps this pandemic is a timely warning.”