• Blockchain, or distributed ledger technology, offers the most value in ecosystems 10 where trust is declining or absent and where records and tracking still need to be secure and agreed between parties. New use cases • Beyond crypto-currencies, blockchain has not significantly disrupted the payments for blockchain and space despite bursting into mainstream awareness in 2017. • This is largely due to the lack of value it offers over incumbent ‘centralized’ database crypto-currencies and record-keeping technologies where trust is not a factor. • The COVID-19 outbreak is likely to erode trust between participants in payments are likely to emerge ecosystems, particularly in trade finance, where banks and governments are less trusted and blockchain-based solutions to track assets and payments may thrive. China is accelerating the launch of its Central Bank Digital Currency in the wake of COVID-1917 23 10 Ways COVID-19 is impacting payments