Coinbase prepares for coronavirus epidemic

Brian Armstrong CHIEF EXECUTIVE OFFICER of Coinbase – one of the biggest crypto currency exchanges, stated in the Twitter web page the fact that the site’s employees are really getting ready to deal with the coronavirus crisis. The firm has formulated crisis rules that can be utilized by some other businesses to support manufacturing or deliver products and services.

This document describes possible options for the development of events related to the spread of coronavirus, and the actions that must be taken in this situation. To preserve the life and health of the company’s personnel, Armstrong has already banned employees from holding meetings with customers in China and surrounding areas. All necessary negotiations are carried out only remotely using video communication technologies.

If there is a real threat of coronavirus infection of the exchange staff, then the management is ready to take the following measures:

  • transfer most of the staff to a remote mode of operation (from home);
  • reduce the number of visitors to offices, limited only to the most necessary personnel;
  • carry out continuous disinfection of rooms in order to destroy the virus;
  • install infrared cameras, similar to those that work at airports today, and are designed to measure the body temperature of office visitors;
  • transfer company employees to another office, which will be located at a considerable distance from the source of infection.

Furthermore, Armstrong impulses workers to decrease or even totally get away from any journey to China.

The Coinbase management in addition inform us that this reaction strategy has currently been executed throughout the Japanese workplace of the Coinbase exchange, where the probability of corona-virus disease is still significant.

The firm motivates the need of personnel to do business from home plus not go to jampacked spots.

How coronavirus affected the work of the exchange – As Armstrong himself admitted, so far the exchange is not experiencing specific difficulties caused by the coronavirus epidemic. In most offices, employees work normally.

However, the situations going on in the entire world which are specifically linked to the spread of corona-virus, a cut down in manufacturing in China plus the common tension that has taken the countries from the West to Europe, make certain adjustments to the behavior of cryptocurrencies. For example, cryptanalysts claim that bitcoin has every chance of becoming a protective asset for investors, because today there is a decrease in the level of trust in global institutions.

The market shows a shift in investor interest from traditional investment assets, such as precious and non-ferrous metals, stocks, towards cryptocurrencies, which are less affected by the current situation.

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Even so, if China carries on to fall in manufacturing, in that case it’s quite possible that BTC itself will be affected. In the end, specialists have formerly mentioned that the flow of miners pertaining to mining crypto-currencies is definitely slowed because of the circumstance in China.

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