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

[DLiiMa]

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

[USBitcoinServices.Com]

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.

[absy]

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.

[avikz]

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.

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?

[USBitcoinServices.Com]

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?

[Hydrogen]

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.

...

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.  

[kaya11]

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.

[fiulpro]

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.

[LeGaulois]

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

[AniviaBtc]

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.

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?

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.

[TimeTeller]

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

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.

[ReiMomo]

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.

[palle11]

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.

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.

[abhiseshakana]

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.

[Tylev]

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.

[Xampeuu]

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

[arrmia11]

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.

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.

[el kaka22]

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.

[camito]

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

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.

[Twentyonepaylots]

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.

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?

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.

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?