Blockchain technology plays big role in easing funding woes of small businesses

By He Wei in Shanghai | China Daily | Updated: 2020-03-11 07:14Amid the novel coronavirus outbreak, blockchain technology has shouldered additional enterprising undertakings, leading to increasing financing demand for smaller businesses in more efficient ways.A total of 87 Chinese enterprises have received over $200 million in loans through a cross-border, pilot blockchain financing platform since the Lunar New Year holiday (Jan 24-Feb 2), said Xuan Changneng, deputy administrator of the State Administration of Foreign Exchange.Small private businesses have been the most severely disrupted by …

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