The coronavirus pandemic has been affecting more and more aspects of the blockchain and cryptocurrency market. As Cointelegraph previously reported, more than half of the 2020 crypto conferences were either canceled or postponed due to the COVID-19 outbreak, while mining manufacturers had to stop the equipment production in China.
At the same time, other companies have been able to master new opportunities by digitizing business processes and moving employees online. Cointelegraph has analyzed how severe the consequences appeared to be for projects working with blockchain technology and cryptocurrencies, and how the coronavirus pandemic has affected their roadmaps and release schedules.
The latest news related to digital initiatives shows that, in most cases, the extent of changes within the project directly correlates with the degree of spread of the coronavirus in a specific country.
For example, China, which reportedly halted the spread of the pandemic on its territory, announced that it will launch its national blockchain network in April of 2020, as it was initially scheduled. Chinese mining companies have resumed their work after the recent closure of their offices and facilities.
Meanwhile, Russia, which is facing rapid growth in the number of COVID-19 cases, has postponed the adoption of a law on cryptocurrencies indefinitely. Earlier, Cointelegraph also reported that the Russian government halved the budget for the development of blockchain technologies. The city of New York, which is experiencing an extreme number of confirmed coronavirus cases, has seen almost all local blockchain companies, including Cointelegraph, close their offices.
Other projects have temporarily suspended their activities related to doing business in other countries. For example, Prime Trust, a company that provides open banking solutions in the blockchain industry, said that its representatives cannot visit their recently opened offices in Cyprus, which has…