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The Impact of Corona Virus Disrupts the Crypto Industry in China.


Corona virus that occurred in China made other industries affected. No exception, the crypto industry and blockchain there.

Where, blockchain companies operating in China, choose to allow their workers to work remotely or from home. Of course, this can be considered positive and negative for the company.

For the positive things, the company is very concerned about the safety and health factors of its workers. However, on the other hand it also makes cryptocurrency exchange there a little slow from a technical point of view. Because, usually the workers who work as developers and marketing personnel always exchange ideas and meet directly for product development.

This was felt directly by one of the cryptocurrency exchanges, ZB Group, a Swiss-based company, which was established in 2013 in China. Which, daily trading volume reaches an average of $ 3 billion, and serves more than 10 million users. ZB Group services are available in countries such as China, Korea, the US and Singapore.

"The corona virus outbreak caused the ZB Group technical team to slow down for the development of our platform, especially the front-end and back-end, because the corona virus did not occur in China alone, but also in other countries," Aurora Wong, Vice President of ZB Group.

Crypto Platform Need Strategy to Minimize the Impact of Viruses
Allowing workers to work remotely or from home alone is not the only way to minimize the threat of a corona virus outbreak, but there are also those who plan to move their technical teams to Asian countries such as Singapore or Vietnam with more corona virus impacts. a little compared to China.

This was planned by Bibox, an Estonian cryptocurrency exchange, which operates in China. Although the effects of the corona virus did not have a direct impact on their technical team.

However, the issue of corona greatly disrupts activities such as marketing or meeting with potential investors. Where, this ended with the postponement of the meeting that will discuss the Bibox IPO on the London Stock Exchange some time ago.

Another case with Bibox and ZB, OKEx is reported to have prepared health protection equipment in their offices, and asked its workers to reduce business trips and avoid direct contact in the crowd.

Blockchain startups such as B Labs, Conflux, also feel the effects of the corona virus. Especially for offline activities in the Asia Pacific region. While the Bitcoin miners also experienced a decline due to this corona outbreak.


keep strong

The advantage here is that workers can work from home and crypto tasks can be done from home that is an advantage; if many people didn't know cryptos before coronavirus and now they do thanks to Coronavirus that is good, but not for people getting infected. I am sure soon the businesses behind coronavirus business will release their magical cure (vaccine), they have achieved the first phase now (mass adoption of their concept (coronavirus), their second important phase for them is to start selling their vaccine or cure they probably already have, they might be just waiting for the right moment to launch it. They have created and achieved/conquered a big global market now in just weeks! using fear, yellowish unfair mainstream media supporting them "informing" the masses.

Very true and this is why we need Crypto , they had stopped using the old currency notes because they believed it was aiding the spread of the virus , alternative ? Digital currency . As you mentioned , those people who didn't know about cryptocurrencies now know what it is and after the cool down of this virus I can see a better place for crypto in world economics.

It's not just the crypto task but majority of operational task can be done from home if they have a stable internet connection. My company has a big team in Beijing and they are working from home since the news about Corona Virus broke out!

Also to the second part of your statement shows that you believe Corona Virus is a planned attack. Do you understand the gravity of this claim? Thousands of people lost their life and millions are quarantined. What made you think that it is a planned conspiracy?

Only people not trusting the mainstream media will understand this.
We can't keep thinking in the way the status quo wants us to think, we need to think differently to achieve different things.
We can't solve problems with the same mentality they were created. We need to go beyond that.

Don't focus on what I say, this is not personal, it is better to research, watch documentaries, have you wonder why documentaries are not as popular as commercial movies or commercial television?

Have you noticed that the word conspiracy is the favorite one from those not willing to play fair? or not willing to think out of the box?
Why think narrow when we can think beyond our box beliefs?

What's wrong with bringing all possible factors or possibilities here? even if they sound like that favorite word of unfair people: conspiracy?

Why attack a possibility? instead of bringing some value to the table?

The latest World Health Organization (WHO) report claims china is effectively quarantining those infected with both their fatality statistic as well as the number of patients treated in hospitals being on the decline.

https://www.who.int/emergencies/diseases/novel-coronavirus-2019/situation-reports

I'm not certain whether that report will later be corrected in favor of new emerging data. There is certainly a lot of stake. China is known for its state controlled propaganda arm being the closest thing it has to a news media.

If the report turns out to be accurate, it would appear china has its corona virus situation under control.

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The first line of OP says: "The Impact of Corona Virus Disrupts the Crypto Industry in China." But if you read everything below that, it doesn't appear crypto is being affected at all.   :D

The impact is not only in china but in the whole world. Just look how the virus is destroying the economy of different countries all around the globe. Recently I saw a post that Saudi Arabia has now banned visitors from different corners of the earth and even from their own land. The cities 2 holy cities for Muslims are locked and cannot be entered at the moment for the purpose of stopping the NCOV from spreading. Picture the businesses of people living in there, hotels and tourist spots. Also it creates disruptions and just in our country they are spreading news, fakes news that there are people dying because of the virus but mostly are false alarms and just foreigners that are drunk and slept on the streets.

Not only China , but a lot of countries are being affected 10 days before I thought personally that China was too far away and we would at least have some time and in that time vaccination could be produced.
But now people from Italy are going crazy and travelling around the world spreading the Virus , I do have no idea how can they be this stupid and selfish.
Now Virus is spreading , the workers are going down , the economic situation is dying , not just in China but everywhere now.

Is there anyone who buys items on AliExpress? Most of the deliveries shipped from China are currently blocked or at least retarded with the virus.
I'm waiting for something for near 2 months.

I watched a documentary yesterday, citizens have different applications to see who's infected in your street, it's a real-time map. The streets are empty, they control your body temperature on every corner of the streets, before going into a supermarket, etc. All the restaurants are empty.
They interviewed a worker saying it's like 1 month since he hasn't gone to work. I believe they never got so long holidays there

It is not only the crypto industry in China (with mining machines shipping retarded, mining staffs in quarantine, and who knows what), it is the entire local economy that is directly impacted, and all international companies sourcing from China are indirectly impacted as well

But why is it that it will disrupt crypto industry? Cryptocurrency doesn't really require you to go outside just to trade. It is digital so all of your money or assets can be transferred through digital and it is not a direct contact with the people. So it is safe to use when you have someone to transact with and it will surely help the economy not become disrupted. All you need is internet connection, laptop, or cellphone just for you to still use cryptocurrency without getting our of your house and be safe from the virus. Corona Virus really killed a lot of citizen in China but there are a lot of ways or safety measure just to prevent it and at the same time still using cryptocurrency in many ways.

That is actually true.
When this virus news hits the headlines, in my case, I stopped ordering items online that are shipped from China.
So people with orders from China are really affected by this current situation.
Crypto is affected in a way that those users that are getting their mining equipment and other accessories from this country will have to wait for very long time.
Aside from that, those companies that are manufacturing those gadgets might be in temporary shutdown or short in staffs.

Of course, even one of the largest crypto mining companies in China was forced to close just because of the said epidemic, the NCov.
The global economy has really effect on the market's stock even in the virtual market it is also affected. Not just only by that, all online merchants have also announced delayed shipping due to the epidemic virus.
I hope someday everything will be okay.

Crypto business and other digital engagement plus working from home is a big advantage. If not for this, more disaster would have happened because restriction of movement would have either caused more hardship to the people and the Chinese economy would have suffered more.

The Corona outbreak did destroy Chinese superiority, especially when China was incessant with the Yuanization program, one belt one road, and consistency in conducting trade war with the United States. The impact of Corona which is massive and claimed more than 3,000 fatalities in China is a stumbling block and cast doubt on the ability of President Xi Jin Ping and the Chinese communist party.

The Chinese government has indeed begun the program back to work, but the cessation of many industries since the lunar new year caused a slowdown and even large losses especially for the private sector. It is undeniable that the coronavirus is hitting industries and services in China. Corona is believed to be closely related to the living culture of Chinese people which finally brings a negative stigma that China is not the right-center for global manufacturing. And the corona pandemic will be proof and fear in the long run.

China's condition is now in uncertainty. Aside from the coronavirus effect which will, in the long run, cut the global supply chain. In addition, the results of the United States election will have an impact on the policies taken by China, if Trump wins the 2020 election and there are fears of a deadlock on the second phase tariff agreement between China and the United States. The US-China phase one trade deal is considered positive, but the coronavirus, although it may only be temporary, shows how excessive dependence on China is bad for business.

When many Chinese companies stopped operating due to the coronavirus, many entrepreneurs looked for alternatives to China for their investments, such as Vietnam, Thailand, Bangladesh, and other countries.

The impact of the coronavirus epidemic on the economy of almost all states, especially those who are most affected by this virus, of course, is. However, I do not think that this is too much a problem of world significance. From any seasonal catarrhal disease, hundreds and thousands of people die every year. Of course, this does not mean that you should not fight with coronavirus. It is necessary to take all necessary measures and then its distribution will quickly decline. However, in my opinion, his threat is too exaggerated. Activity in all markets has now fallen, but this is temporary.

Indeed, the decline in market activity will only occur for a while, especially since we know that China is a large industrial country affecting almost all countries, so that even though most of the corona epidemic in China is, it has an impact on all countries. and I think until now the economic downturn has not been accompanied by a decline in crypto

Its is really true people will be safe by working at home than working at the office and they can also save money somehow instead of paying for the taxis or train they can use the money that they spend for their foods or in their daily need and they can also take a rest all along without any permission.

Well, from the numbers there is 95 THOUSAND effected people in the world right now and there is around 4k people dead as well, that comes from china who jailed the whistle blowers that let this corona thing known as well, so I am pretty sure the real numbers are way way higher than this as well.

So, I can say that when a disease kills 5-10k people at least and it also has literally zero medicine but just "stay alive without dying" LITERALLY that kind of means they will put all their resources to keep people alive and that makes sense. Crypto is a very very important thing and financially could be even more helpful towards china to actually recover from this situation but it could also wait in the face of death as well. Maybe 2021 would be a better year for them to get better.

It is very important to keep the safety and health of workers in a company. China made a good choice there. With the crisis they've been going through, they easily learned to still keep their economy going on by transaction of cryptocurrency in their homes. They even asked their workers to avoid business trips and other related activities. What we see with the world today, there must be countermeasures to be made. We see the decline of earnings and less transactions but with Bitcoin, which can be done in homes and with less exposure to others, howsoever, there can be hope for sure.

Vaccines are hard to find since the origin of the virus is not yet determined, there are conclusions that the virus originated from an animal but they don't know which animal it is. And as far as I know this is not the only case, there are people who has been diagnosed with the virus that is never been anywhere in China. Scary right?

There are already cases where people are getting sick due to the virus on which unbelievably that they weren't outside of their country like in Japan and Italy. The economic status of China is at risk with this kind of disease, all types of industry will be affected by the said cause and we will probably see how huge the impact is after even more years. Is it just a coincidence with the price plummeted last week?

Yep, it's absolutely madhock crazy. Funnily enough, despite the fact that this whole epidemic has caused global panic everywhere, countries are still scared to put a travel ban on China because they are scared of China.

The crypto and the stock industry on the other hand are lowkey suffering(The Dow Jones fall for instance). But at the same time, a pharmaceutical company who's said to have a vaccine tested for Corona in the month of April had their stocks almost quadruple in the past week. The markets will go the same way, it's basic economics, demand and supply changes over time as the ever dynamic industry changes and responds. People react towards the change,regardless of how big or small it is.

It's kinda the same in South Korea too, they have a live tracking map for all the people affected with the virus with the names being redacted for obvious reasons : https://coronamap.site/

one day before lock this thread. i hope all of you will understanding.
positive coment, positive thinking

Be a Smart people

right, such as mining activities in cryptocurrency, of course requires support from other infrastructure, such as the internet and electricity. of course many people are involved in the supply of electricity and the internet, if many workers in the sector are infected with the virus, then the smoothness will be disrupted. and this certainly affects the price of cryptocurrency

Since the spread of coronavirus and the need to take the necessary protective measures significantly violates the usual life of people, the world economy suffers from this. If this virus continues to spread at the same pace, it could trigger the onset of a global economic crisis. Already predicted that the damage from coronavirus could amount to 2.7 trillion dollars.
The virus negatively affects all markets, including the cryptocurrency market. However, it is hardly worth saying that this market is collapsing. Even in such a peculiar country like China. The cryptocurrency market is falling, but this process is temporary. The virus will be defeated and cryptocurrency will develop further.

The coronavirus has spread throughout the world and it has become an epidemic If the timely vaccine is made it can be cured and China's economy will not be disrupted. And the downside is that the impact of the coroner virus will hamper China's crypto industry because the virus is causing many people to become ill and losing their ability to work will only disrupt the crypto industry.

It really affects their crypto industry because their is definitely a shortage for workers because there are lockdowns to prevent the further spread of the contagion. Not only do their crypto industry suffer but also their morale, people are becoming desperate when this is the time that should be more optimistic. I hope this problem won't last because this will cause a serious plummet in the crypto market.

I don't understand why would they be closing it because of the epidemic.

It is not like they can't run it with the epidemic ongoing. If they couldn't all of those miners, they could just run some of them so they would keep on mining. Another thing is that, why would it disrupt cryptocurrencies when it can be used in times like these. Offline payments or fiats can be used more often since people are inside their houses scared of the disease.

I was expecting that in moments of cryses BTC will show its glory but so far it is just a dissapointment. My hope is that with all these limitations cause of covid19, bank transfers will start moving slower and people will buy btc or crypto to pay for liquidities. Tho, this is not happening yet

As long as a Blockchain company is what we are talking about here, I don’t really see anything wrong with working from home. Most Blockchain jobs are remote jobs, the only ones I think might be affected are the mining companies. I don’t really know how bitcoin mining farms works, but I think they have to be there to manage their farm or something.

But as for others, like exchanges and wallet companies, there is the possibility for their staff to work from home. Just like Exodus, their staff work from home, if you check their website you will see that. Another cryptocurrency company is Xapo, majority of their jobs are remote jobs and they work with Slack.

Your expectations are not realistic. What you are saying is quite similar to expecting for instance eth to move separately from btc - you want btc to move separately from whole stocks market which is not happening.
So btc would fall anyway in current situation

i think now, the effect impact on economy on around world, not only stock, forex, and another comodoty,
even in crypto we also get this effect.so this is very terrible,now that all economies are down, some people
will use that moment to take advantage of this very deep decline.

so you think that is bad when people use this opportunity to buy and hoard  ? its not actually bad but its benficial in crytpos because in that way the value can easily returned while it was bad to buy and hoard medical stuff and other basic needs because that will make you selfish because the stocks of those items easily goes down and as a result others cant avail  . this is the situation that are still happening   .  panic buying here and there   . this impact is huge on china but other countries slowly get infected too or got affected too  .

It is basically impacting in priority way and nothing more. They have something much more important to deal right now so they can't really make anything about crypto for the time being but that is about it, nothing more. I personally do not really think that we should worry about bitcoin or crypto in general right now and the price etc etc because whats going on around the world is a rare thing and not going to happen too frequently.

We are going through some rough patches as a world and 2020 has been a bit foggy but overtime we will definitely see an improvement on prices and of course China going into bitcoin a lot harder as well, just gonna take some time that's all. When you are dealing with stuff that are more important these things are not really becoming priority.

As my own perspective and based on what we experiencing right now. Not only the china has an impact of corona virus because when the pandemic coronavirus are spreads throughout the world many countries are get infected to it and the crypto industry are also effect, all the currencies are drop at a lower price. In minimizing the impact of virus is to use the crypto currency instead of fiat currency, as we noticed it is easily spread the coronavirus through physical things and if we use the crypto we can prevent the virus from spreading it.

The halving will deliver the coup of grace in many of these mining companies.

Then there is Shelby's FUD from one year ago, where he predicted a massive stealing from SegWit addresses.

Bitcoin is navigating in murky waters right now. Being submitted to the stock market, to derivatives speculation and now the industrial impact from the shutdowns shows bitcoin is in a iron ordeal it never saw before.

The characteristics of cryptocurrency are unique and because of their decentralized and anonymous nature, but cryptocurrency has a volatile value (except Fiat-backed Stablecoins).

Statistically, China is a huge market power but it is difficult to conclude corona correlation with the cryptocurrency market in China. What is certain is that the corona effect is hitting all industries in both the real sector and the market both conventional and cryptocurrency markets.

In addition, investors in these uncertain conditions generally cash their assets and prefer to hold fiat money as a form of protective action not to their assets but to the safety of their souls. Continuation of this is that they prefer to use e-money or digital payment instead of cryptocurrency (because of the volatility) to avoid the use of physical money that has the potential to be a corona distribution medium.

The risk of using physical money during the Corona Pendemi also encourages the government to accelerate the creation of stable coins or CBDCs as a precautionary measure if the pandemic is prolonged.

Yes it is a time for people who are smart to do some good return because there is no way that price will not pump after this time that economy is down. When countries come out of this, they will pump in money into their system which means investment will come back and cryptocurrency too will have its own share of it.

The impact of Coronavirus not just happened in China, but it occurs in all countries, and all of them trying to solve the problem first before they can recover their economy. But I don't know if that is also impacting the crypto industry and blockchain in China because I think that they don't just have their server in China only, but they also have another server in another country. I am sure that even if their business in China is down, they can still running from the other country.

There are significant number of sites and news saying that China now have less to zero number of infection a day, and the price of Bitcoin from the end of the month of March have been steadily growing from the dump to $3,500+ value. I think this events does explain why even if there is a worldwide quarantine implemented by each country, the development in the price of Bitcoin still continues up to this day. China is a big country, and it hosts a large community of Crypto currency, and the possibility regarding the recovery of the Bitcoin price might be rooted from the recovery of China.

Yeah they have 0 new cases for the past of days but unfortunately they have new 39 cases yesterday and you can read the information

Here: https://www.channelnewsasia.com/news/asia/covid-19-coronavirus-china-increase-cases-1-more-death-12612430

and seems they are not done yet with the virus since provably the 2nd outbreak will come if they didn't contained it. But I'm curious if this event will really give an effect since maybe we still in danger zone but hopefully we cannot see a big crash if the case will turn into worse situation again.

There were already discussions of how a few mining farms in China were forced to close down, Not to mention that a few mining groups are thinking of migrating to other countries because of the current state affairs the country currently is. Additionally, the recent drop has caused a few mining groups to close down not because of the virus, but because the price current handles the expenditures that they are currently using. Supplies of mining rigs are also being delayed because of the virus, so you can expect that they are hit quite big ngl.


Just a recent article stated that there were 30 new infections, though the said infections were "imported" while a few were infections from inside. Still, I doubt it would end with that with how big of a country it is. Though I have to admit that the quarantine procedures they are enforcing are pretty effective.