Industry observation | ZB Group CEO Omar: Software service trading platforms were least affected by the epidemic.

At the beginning of 2020, a new type of pneumonia epidemic has come unexpectedly, which not only threatens the lives and health of the people throughout the country, but also poses a huge challenge to economic development. The blockchain industry is also unable to survive alone.

When the epidemic broke out, the blockchain industry actively responded to the national call to extend the Spring Festival holiday in 2020 in a timely manner. At the same time, it advocated distributed office and delayed work hours. In addition, more and more blockchain companies donate money and materials to work together to fight the epidemic.

During this special period, Mars Finance launched the “Industry Observation: China’s blockchain industry under the epidemic “special topic, an exclusive connection with blockchain practitioners, directly addressing the industry’s current situation, and discussing strategies.

Omar Chen is ZB CEO, ZBG Co-founder, WHUT CS Master. After going from 0 to 1, the ZBG exchange has been squeezed into the top 10 in the world (CMC liquidity ranking) within 1 year. Ex-Huawei Global Sales Talent, Gold Medal, Medal of Heroes winners; wrote 10 computer patents, 2 years R&D and 10+ years overseas MKT and Management experiences in Europe, Middle East, North Africa, South East Asia region.

Mars Finance: What are concerns and issues facing your company? What countermeasures have you taken to address these issues?

Omar: Compared to other industries, because our company is a global Internet-based technology company, the impact of coronavirus on us is relatively limited. However, considering the fear of being affected by the epidemic, we also adopted a distributed and open organizational structure and a decentralized way to manage the team for our colleagues in Greater China. Support team members distributed in different regions, contribute code and wisdom through online collaboration, and let members who work in Malaysia, Singapore, Europe and other places take on more tasks.

ZB is also very concerned about the situation of blockchain practitioners, as early as January 22 and January 23, we carried out air transport masks for blockchain partners in the Greater China region. The first batch of masks have arrived on January 26 and January 27. The total number of airdrop masks was 100,000. We also announced on January 27 the establishment of the Fight Against Epidemic Foundation to fund third-party software to provide timely information and prepare supplies to support front-line protection work.

The built-in APP tool ZAPP developed during the Spring Festival has also been sought after by users in the circle. To help this condition, in which the patient ride query tool has been online for many days. ZB will further promote the development of industrial blockchains and develop various convenient, efficient and easy-to-operate blockchain products to meet the needs of intricate business scenarios.

We currently have community operations teams in multiple cities around the world, with developers all over the world. In view of the current epidemic situation, in order to meet the needs of China’s epidemic prevention and control work, the mainland has been strictly required to reduce the concentration and movement of people to ensure everyone’s health and safety.

Mars Finance: What new challenges may we face in the foreseeable time frame?

Omar: For the foreseeable time frame, we believe that the next challenge facing us may be how our company can operate more effectively in cross-border collaboration and how to support customers more effectively.

Mars Finance: As far as the entire blockchain industry is concerned, which areas and businesses do you think the epidemic will impact and why?

Omar: Affected by the epidemic, the vast majority of traditional enterprises and blockchain companies have begun to work remotely. Related offline PR companies will be severely impacted, because the domestic summit is basically postponed, and many countries have banned Chinese citizens from entering the country.

Activity line data shows that there are currently 50 blockchain offline activities nationwide that are still in a “delayed” state, involving nearly 20 cities including Beijing, Shanghai, Hangzhou, Shenzhen, etc. Also, some summits in Hong Kong and South Korea were also affected and they decided to reschedule.

In addition, the recent relatively large impact is for the mining machinery, after-sales and logistics have stopped, the Chinese mining machine manufacturers and dealers have a greater impact. Mining machine manufacturers Bitmain, CAN, and pangolin miner have all issued announcements announcing the postponement of the production, delivery, and after-sale of mining machines.

The trading platform with software services as the mainstay has the least impact.

Mars Finance: Although the epidemic has caused a huge impact on the offline service industry, it has also indirectly promoted the development of new business formats such as video network conferences. At the same time, it has a positive pulling effect on medical services, games, and online education. Specific to the field of blockchain, what opportunities do you think it will generate?

Omar: China is the most developed O2O scenario application country, and it is also the earliest to build 5G networks on a large scale, so it is based on a good network infrastructure. Some application scenarios of “Blockchain +” may be spawned, such as telemedicine + blockchain medical record storage, such as blockchain + games, and it is more likely that government agencies will use blockchain technology to solve administrative efficiency and other issues.

About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank, as well as exchange brands ZBM, ZBX and Korea’s Bithi.
Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open source their reports and analysis for the public.
Learn more about ZB Exchange by visiting www.zb.com