 I love being home, I love to work from home, but this is different. You can see the people are trying to keep the distance, but there's still quite a few people jogging, you know, walking dogs, playing in the parks. Basically, whenever we go out, we have to wear a mask. I go out means we just step outside the front door of the home, even in the elevator just to go down the street and buy some milk. Also the kitchen is another office and it's not bad after all we can have Italian coffee all the time. You're not allowed to go out dancing or in clubs or in whatever kind of bar anymore, but I wasn't doing that anyway because I'm working my ass off for crypto adoption, so there is no time to party for me. And I think when we get past this, we're all going to learn kind of a new way of doing things, a new world of work as it were. COVID-19 is devastating economies around the world. According to the United Nations, the global economic impact of the coronavirus could reach $2 trillion. The Fed estimates it could cost the U.S. over 47 million jobs. But how have crypto companies reacted to the crisis? We spoke to industry leaders to find out. Working from home has allowed me as the CEO to be, in my opinion, be more efficient. I can avoid the chaos of the office and I can structure my day very clearly. We instituted really our process and our policies to really take our email service, all of our systems and processing, all of our development efforts, all of our customer service to an entirely remote environment. And so far we really continued operations without missing a beat. We're a 130-person company that operates in six countries, so we need to be flexible in terms of our ability to operate remotely anyhow, so we have the right technology in place. So using tools like Slack, hosting daily stand-up meetings so that we can maintain prioritization and maintain dialogue, those are some of the important steps. It's been easier for the cryptocurrency industry to adjust because of the way we've been operating originally. So people have spread all over the world. We're very much used to have this way of operating. Despite being highly digital, the crypto industry still depends on physical events to connect people and ideas. Due to the pandemic, all crypto conferences scheduled for the first half of 2020 were canceled or postponed. Right now there are no events, which means there are no revenues, no profits, and people don't work. And our flagship event in Singapore every November is also, of course, influenced and we don't know if we will still hold it. Those events are very important for my business because it's the way I know people, I know companies, I can share what I'm doing with my company. The COVID-19 outbreak has severely impacted the crypto markets. On March 12th, now known as Black Thursday, Bitcoin crashed by 40%. Other cryptocurrencies suffered similar losses. Even though prices have since bounced back, they have yet to fully recover. When the price goes down, then we don't have a lot of purchasing power left to do fancy things or even pay for our employees. People spend less when you have those periods of uncertainty and those extreme or peak periods of fear. Right now we are kind of in, it's not survival mode already, but kind of. Everyone needs to evaluate their own risk management system. They evaluate their own good system either on capacity level or either on stability level. So it's like a lesson to the entire crypto industry. Not all crypto businesses were harmed by the market crash. Since the pandemic started, volatility has been surging and cryptocurrency exchanges have registered record Bitcoin inflows. Volumes of through the roof, the volatility is there. I think we're going to have a record month this month. We see there will be a lot more retail business to trade on Bitcoin exchange maybe because they stay home and they spend more time watching the market so induce more trading volume. And of course, the volatility of recent volatility of crypto to induce a lot of volume on exchange wise. It is still unclear how long it will take before COVID-19 is defeated. Some signs of hope are coming from China where the infection rate is slowing down and quarantine measures are being gradually lifted. Since end of February, things are getting much, much better. And most of our colleagues went back to work in early March. In Shanghai, I saw people sitting in the restaurants. I saw people walking on streets, buying stuff. So I do believe the economy will recover very soon in China. But outside of China, especially in Europe, the number are soaring. Meanwhile, the crypto community joined the global fight against COVID-19. Prominent crypto companies such as Binance and Ripple Labs have been launching fundraising campaigns to buy medical supplies and contain the spread of the virus. A charity poker tournament featuring crypto industry leaders was organized by fundraising platform The Giving Block. Other companies are developing blockchain applications to improve the efficiency and transparency of the healthcare system. I want to get a vaccination. I need to know that I am me. I need to know that when I get that vaccination, the vaccine that I have actually is the active ingredient that I will have. I would want a testimony for the person who is giving me that vaccination to be that person. I'm licensed in Tennessee, Illinois. The immunization records actually go to both. What if there's a patient who's actually in both states, how to actually deduplicate that when ultimately that information gets to the CDC. Perfect application for blockchain technologies to actually facilitate a reporting mechanism where you truly have track and trace and all provenance of that chain of trust. As COVID-19 rages across the world, the future of the crypto industry looks uncertain. On one hand, the virus outbreak and the following market crash expose the immaturity of digital currencies and cast doubts on the narrative of Bitcoin being a safe haven. There are people that are losing faith in the cryptocurrency area still at very early stage and it's still very volatile. There is no safe haven at the moment. The only thing that's safe for people right now is cash because they need the liquidity. However, the real chance for Bitcoin to shine has still to come. Central banks are trying to sustain their economies by cutting interest rates and increasing liquidity. There is an infinite amount of cash at the Federal Reserve. We will do whatever we need to do to make sure that there's enough cash in the banking system. With the Fed ready to print an infinite amount of cash to face the crisis, the risk of hyperinflation is now more real than ever. Will people move to scarce digital assets to preserve their money's value? Being decentralized, being borderless, having a max cap of coins can be of benefit, especially when you take a look at what's happening at the Fed at the moment. I think the selling was a panic selling. The fundamental things haven't changed again I don't think the belief of people in the cryptocurrency industry has less than a bit. I think over time Bitcoin will emerge much differently than other assets, including gold, one, because of its scarcity, two, because I think it's still early in the adoption curve for cryptocurrency and Bitcoin. The industry being global, being very digital and providing services 24-7 regardless of any market conditions, any world situations actually would help us as an industry to grow further and bring more people to the industry as well. What will the world look like in the aftermath of the COVID-19 pandemic? And what place will crypto have in it? The industry has been showing its resilience in this global crisis, leading the path to an entirely digital, decentralized way of doing business. Now, with a global recession ahead, the time has come for crypto to prove the same endurance and do what it was created for, provide a solution to the flaws of the legacy economy. Will Bitcoin be up for the challenge?