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According to Chinese state media, the Shanghai and Shenzhen stock exchanges have conducted surveys of 30 percent of the companies listed on their stock exchanges that are executing operations related to distributed ledger technology (DLP). Of the companies investigated, less than half were able to demonstrate applications for blockchain technology.
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The listed companies of Blockchain are subject to applications for the Shanghai and Shenzhen stock exchanges
<img class = "alignright size-medium wp-image-266660″ title=”50% of the investigated Chinese stock companies fail to demonstrate real applications for Blockchain” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_555478435-300×198.jpg” alt=”50% of the investigated Chinese stock companies fail to demonstrate real applications for blockchain "width =" 300 "height =" 198 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12 / shutterstock_555478435 -300×198.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_555478435-768×506.jpg 768w, https://news.bitcoin.com/wp-content/uploads / 2018 /12/shutterstock_555478435-696×459.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_555478435-637×420.jpg 637w, https://news.bitcoin.com/wp -content /uploads/2018/12/shutterstock_555478435.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>The recent speculative frenzy surrounding cryptocurrencies has led to a number of companies trying to associate their operations with virtual currencies and DLT. In many cases, the alleged raid on the blockchain seemed dubious at best, despite many companies seeing a dramatic volatility in the price of their shares, supported by news on the adoption of blockchain.
Securities Daily, one of the Chinese media, estimated that 80 companies listed on stock exchanges claim to include DLT in their business model. Of the 80 companies, 56 saw price increases, putting the blockchain among the few sectors to have good results in the two cities.
The data produced by Hithink Flush Information Network indicated that 70 of the 80 blockchain shares saw price movements that reached the daily limit of 10% price volatility during 2018, seven of which exceeded the limit more than 10 times this year.
More than 50% of the investigated blockchain companies fail to demonstrate DLT applications
<img class = "alignright size-medium wp-image-266670″ title=”50% of the investigated Chinese stock companies fail to demonstrate real applications for Blockchain” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1090386317-300×200.jpg” alt=”50% of the investigated Chinese stock companies fail to demonstrate real applications for blockchain "width =" 300 "height =" 200 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12 / shutterstock_1090386317 -300×200.jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1090386317-768×512.jpg 768w, https://news.bitcoin.com/wp-content/uploads / 2018 / 12/shutterstock_1090386317-696×464.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_1090386317-630×420.jpg 630w, https://news.bitcoin.com/wp -content /uploads/2018/12/shutterstock_1090386317.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>23 of the 80 DLT companies were directly investigated by the Shenzhen and Shanghai stock exchanges. Two thirds of the examinations took place in the first quarter of 2018.
According to Sina, the investigation of the exchanges mainly sought to ascertain "the specific model of blockchain activities, including application scenarios and profit models" and potential "operational risks" that could derive from the adoption of the DLT.
When asked to demonstrate the results of their blockchain operations, it is said that companies use the words "exploration" and "research" more frequently, with 13 of the 23 companies suspected of trying to associate with the blockchain just to drive speculation. while failing to try DLT applications.
What is your response to the discoveries of exchanges that most companies trying to drive the blockchain bandwagon do not intend to provide technology-based products and applications? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
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