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.
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