The Coronavirus continues to rage on, with one of the worst days hitting the province of Hubei, with 242 deaths reported on Wednesday. The overall death toll in China has hit over 1,300 and the number of infections has almost hit 60,000.
With schools and businesses closing across mainland China and Hong Kong, the impact of the virus is huge. It is not just public authorities it is hurting too, the Asian crypto industry is also feeling the pressure of the virus named, Covid-19.
Crypto closures in Hong Kong
In a bid to quell the threat of the virus, Hong Kong, has taken many extreme measures. The autonomous region has closed many of its borders with the mainland and has placed a two-week quarantine on all visitors.
This cutting off from the mainland, mixed with the continuing protests in the city has wreaked havoc with the economy and businesses in the city. One crypto business, Bitspark, was forced to close its doors due in part to the virus and unrest. However, some businesses like Genesis Block have continued to stay open. However, many conferences haven’t been so lucky.
Crypto event, TOKEN2049 was scheduled for March this year but organizers have been forced to reschedule to October later this year, due to the virus. They said in an announcement that after much thought that ultimately, “uncertainty prevails” and the event would have to be stopped.
Binance Blockchain Week Vietnam was also canceled due to the virus. The exchange was forced to reimburse many guests and have said that a new date will be revealed shortly. Hong Kong Blockchain Week 2020 was put on hold too.
Community Rallies to combat the Coronavirus
China and wider Asia are battling and supporting each other in this dark time. One industry that can be a massive influence is the tech one. Much like with SARS when e-commerce took off and helped the public almost two decades ago, the blockchain industry is making other major developments.
Hyperchain, Acocer, and other smaller blockchain companies have been creating novel ways that blockchain can aid the public authorities and charities in the fight against the Coronavirus.