[vc_row][vc_column][vc_paragraph text=”Crypto Valley has confirmed that Swiss blockchain companies face serious difficulties because of the coronavirus pandemic.“][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”COVID-19 as a cause of crypto crisis ” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Actually, the Vice President of the Swiss blockchain federation has publicly expressed his concerns about the difficulties that the industry have to deal with amidst crisis.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Switzerland used to be a favorable environment for various blockchain startups. Enabling legislation, tax free system, innovations and absence of bureaucracy have attracted many initiatives.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Now the industry is facing its first crisis since Covid-19 has struck blockchain companies during one of the most vulnerable periods.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Lorenz Fourier, the Vice President of the Swiss blockchain federation, said, “Crypto Valley can become the new “Death Valley”.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”In the period from March, 31 to April,3 the federation had questioned 800 companies, and about 200 of them responded. About 88% (4 of 5) said they were having hard times.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”While the technologies connected with Internet seem to be the only functioning systems due to cinema platforms, online meetings, e-commerce and entertaining industry, the most innovative IT sector has suffered greatly.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Only in Switzerland blockchain industry involves over 4000 and 50 major companies for a total amount of $25.3 billion (according to the report made by Zug CV VC investment company).”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Nevertheless, many startups are not making profit so they are unable to stay afloat in 2020. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Startups launches often have to pass through scalar investment steps, and funds attracting is becoming more challenging.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”“Health care crisis has complicated the task”, said Ralph Coubly, CV VC director.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Pandemic also makes it difficult for the startups to strengthen the relationships with clients that is vital for business development.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Entrepreneurs that used to be open to new technologies and innovations and would readily invest in them are now fighting with the crisis lead by restrictions and have to delay any decisions.”][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”Quarantine will cleanse the blockchain market ” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”1117″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Cancellation of sectorial activities haven’t worked, notes Daniel Haudeshild, Crypto Valley Association president, “Major part of the blockchain ecosystem depend on coordinated efforts of platforms, networks and conference attendance”.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Meetings and activities have always been the basis of the market’s potential. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The inability of interaction affects the industry especially at the stage when “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”the project is being researched. The market will significantly reduce, and those who have appeared to be more prepared and persistent will manage to get ahead.”][/vc_column][/vc_row]
