In response to the escalating epidemic, Chinese crypto WeChat groups have transitioned into "face mask smuggling groups."

With the outbreak of the Wuhan coronavirus, even for the highly speculative cryptocurrency market, the fluctuations in cryptocurrency prices seem to no longer be a significant topic of discussion. Therefore, this article compiles the recent changes in the Chinese crypto community and the potential role blockchain technology can play in the epidemic.

• The cryptocurrency mining industry remains unaffected by the pandemic
• Controversy arises again over the flow of funds in charitable organizations

WeChat Crypto Community Shifts to Discussing "How to Smuggle Masks"

WeChat groups have been an important channel for the Chinese crypto community to stay updated on blockchain-related news. However, with the outbreak of the pandemic becoming a nationwide crisis, most WeChat groups have stopped discussing cryptocurrencies. Many have shifted to more practical topics: how to smuggle masks and other medical equipment into China.

Currently, Wuhan's lockdown not only prohibits people from entering or leaving, but also restricts the import and export of medical supplies. This prevents external resources from being donated through official channels.

To obtain masks in Wuhan, WeChat groups have become crucial. A report mentions a Thai businessman who happened to have contacts with a local mask supplier and managed to smuggle masks from Bangkok, Tokyo, Hangzhou, and into a hospital in Wuhan, all facilitated through "friends of friends" on encrypted WeChat groups.

As of now, Chinese authorities seem to have relaxed restrictions and allowed some logistics companies to transport medical supplies to Wuhan. The Chinese Ministry of Transport refers to this as a "green channel", prioritizing emergency supplies with the principle of "no stopping, no inspection, no tolls, priority passage."

Cryptocurrency Mining Industry: The Only Antivirus Industry

Due to delays in starting work across China, small and medium-sized enterprises are facing severe challenges. Even tech giants like Apple are affected, impacting their supply chain and production schedules. Apple is considering measures to reduce production and delivery times.

In contrast, the cryptocurrency mining sector seems to be unaffected. While there may be some issues with equipment maintenance, the crisis caused by the current pandemic has not hindered the cryptocurrency mining industry.

Questions Arise Over Donation Fund Flows

Compared to the SARS outbreak in 2003, where most families didn't even have internet access, the current crisis has seen a historic high in online donations through WeChat Pay, Alipay, cryptocurrencies, and more.

As of now, over 30 blockchain companies, including Binance, Huobi, Okex, and venture capital firms, have initiated relief plans. Most companies choose to donate directly in fiat currency, while a few use tokens for donations.

Challenges faced by traditional charity donations include: how can the public track the flow of donations? With a few charity organizations repeatedly involved in scandals, how can trust be rebuilt?

According to reports, as of January 31, the Chinese Red Cross has received donations of over NT$3.738 billion in cash and goods for Wuhan pneumonia. However, it was revealed that the distribution of supplies was uneven, with hospitals in real need receiving only 3,000 masks. The Red Cross issued a statement admitting improper distribution of supplies and expressed remorse.

However, tracking donations remains difficult, mainly because most non-governmental organizations do not use any blockchain platforms. Apart from the lack of transparency in fund flows, the settlement time for aid funds to reach beneficiaries is also too slow.

In fact, during the SARS outbreak in 2003, the internet was not as mature, and TV and phones were the main sources of information. Today, the internet is almost the primary source for the public to access the latest information.

Currently, blockchain applications are still immature, and it is uncertain in which areas blockchain technology will shine. However, it is certain that the inherent features of blockchain, such as immutability and high transparency, align with the public's expectations for charity organizations. Perhaps in the near future, we will see the emergence of blockchain-based charity organizations.

Further Reading

• The Second Bitcoin "Lightning Torch" Initiative launched, spanning 40 countries globally within three days
• Bitcoin technology company Blockstream: The future "privacy battle" will be more intense than the controversies caused by scalability

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