Many Chinese listed companies have announced ambitious plans to develop blockchain applications since last year. But as the cryptocurrency market plummeted, only a very small portion of those companies actually delivered what they said they would do.
Only nine out of the 34 listed companies that announced plans to enter the blockchain space actually developed concrete products and services, according to an analysis conducted by Chinese media outlet Securities Times. The 34 companies include only those companies questioned by Chinese stock exchanges regarding their blockchain plans. There may be more listed firms in China that announced blockchain aspirations.