Exclusive Content:

Verkaufspsychologie im Fokus: Mit KI-gestützter Optimierung zur...

Einleitung In diesem Artikel berichten wir über Strategien, wie Sie...

Wie Unternehmen Gen Z beim Übergang ins...

Die Generation Z betritt den Arbeitsmarkt mit beeindruckenden Stärken:...

Revolut im Überblick: Lohnt sich die Neobank...

Das Video: „Revolut Konto mit Zinsen, Unterkonten, Depot, Krypto:...

CRYPTO VALLEY MAY SHRINK BY 90%, WARNS SWISS BLOCKCHAIN FEDERATION

Nearly 90 percent of Swiss blockchain companies don’t expect to survive the pandemic without help from the government, threatening more than 3,000 jobs across the country, according to an industry group. 

“It could be that Crypto Valley becomes a Death Valley,” said Lorenz Furrer, vice president of the Swiss Blockchain Federation.

The public-private association asked the country’s 800 blockchain firms how badly the coronavirus crisis is hurting their business. Of the 200 that responded, four of five said they are looking at bankruptcy in the next six months, and 88 percent said they would not survive without state aid. The survey was conducted between March 31 and April 3.

Switzerland has long been heralded as an attractive place for blockchain startups. Favorable legislation, innovation and access to talent are some of the drawcards for these ventures, which include Facebook’s Libra project. The sector employs more than 4,000 people, with the top 50 firms having a combined value of about $25.3 billion, according to Zug blockchain investment firm CV VC.

Currently, however, private capital for young companies is drying up as the pandemic puts investors on guard. Many startups don’t generate enough revenue to qualify for other funding, such as the bank loans provided under the federal government’s COVID-19 aid package. Without seed money, they are likely to fail.

Blockchain nation takes a hit 

Entrepreneurs have a hard time raising funds even in normal times, but the health crisis has made the task much tougher, said Ralf Kubli, director at CV VC. He said the pandemic is also making it difficult for mature startups to develop the customer relationships they need to grow their business.

The cancellation of industry events hasn’t helped. The Crypto Valley Association has already decided to forego its annual conference, which was scheduled to take place in June.

“So much of the blockchain ecosystem hinges on coordinated efforts between platforms, networking and attending conferences,” said Daniel Haudenschild, president of the Crypto Valley Association.

German Ramirez, who runs the Swiss blockchain marketing agency The Relevance House, says blockchain events and meet-ups are critical when launching a product, allowing clients to get a snapshot of the market and build their network.

Being nimble and pivoting to digital tools can help companies ride out the storm, Haudenschild said. Many startups have already taken steps in this direction, hosting webinars and online networking sessions.

“Switzerland’s credentials as a leading blockchain nation remain undisputed,” he said.  “The Crypto Valley is well positioned to emerge from this crisis on assured footing.”

WATCH MORE

Coronavirus fuels record sales of computer screens
Screens and other office supplies are in great demand these days as the coronavirus forces people to work from home. Digitec Galaxus is among retailers who say they are seeing record-breaking sales of some items.

Start-ups struggle to survive coronavirus
Cash-strapped start-ups that manage to stay afloat in the coming months may struggle to survive the economic aftermath of the coronavirus, says Jordi Montserrat, co-founder of Venturelab, a group that supports entrepreneurs in Switzerland. He predicts that investors will reconsider some existing projects and hold off funding for new ones.

Will hotel industry be gutted by coronavirus?
Hotels are especially exposed to the effects of coronavirus, from the spate of recent cancellations to travelers not even booking because of the current uncertainty. Ari Andricopoulos, the CEO of RoomPriceGenie, a company that helps small and medium-sized hotels price their rooms, is already feeling the pinch. “Hotel owners are fearing the worst at this stage,” he says. “There’s a good spirit of solidarity in the hotel industry, but I think we all know it’s not a good time.”

Why you can’t trust coronavirus counts
At least 613 people have tested positive for coronavirus in Switzerland, but that number isn’t a reliable measure of the outbreak. The Swiss government is abandoning efforts to keep a precise count of coronavirus cases to focus instead on easing the burden on the healthcare system and protecting the most vulnerable—the elderly and those with preexisting conditions. “The government has decided that they will only test people who are at risk, who have strong symptoms,” said Michael Hengartner, president of the ETH Board. “Young people, who might have weak symptoms, will simply be asked to stay at home to minimize contagion.” The Cantonal Hospital of Lucerne has received a recommendation from the government to limit testing to the most vulnerable or severe cases, said spokesman Markus von Rotz. “Only patients who are hospitalized and health care staff will be tested for coronavirus,” said Claude Kaufmann, a spokesman for Hirslanden Private Hospital Group, which operates 17 hospitals. “Patients with fever and cough must stay at home so that they do not infect anyone.” The Swiss Federal Office of Public Health confirmed that the cases could be far higher than reported and that “people at especially high risk are tested as a priority.“ No test, no infection This raises the question of whether the count reflects the true scale of the outbreak. Many people have been keeping tabs on the daily tally from the federal health office, relying on it to provide a measure of the severity of the situation in Switzerland. The country reported its third coronavirus death Tuesday as the outbreak worsens in neighboring Italy, which has logged over 9,000 infections and 460 deaths. It also marks a change in strategy from the early days of the outbreak, when the government ramped up testing following the first confirmed case on Feb. 25. Back then, even mild cases were being counted and traced in the effort to contain the crisis. The Swiss Federal Council said Friday that tracing the infection would continue “as long as possible.” At the same time, it indicated that protecting people by minimizing contact—at work or social events—was now the bigger priority. Large events have been banned across the country but, unlike in Italy, no blanket travel restrictions have been imposed. And the Swiss border remains open to commuters from Italy.  “With the infection rate that this virus has, it will basically cross across the human population,” Hengartner said. “It will become a pandemic. And the challenge for governments is to keep the infection rate low enough that we can always manage the patients that need to get hospitalized.”

Coronavirus shuts down Italy but Swiss border remains open
Despite a nationwide shutdown in Italy, cross-border workers are still welcome in Switzerland. CNNMoney Switzerland reports from Chiasso as the number of cases of the virus continues to grow.

Swiss border open for business
The 68,000 Italians employed in Switzerland are vital to the economy, says the president of AITI, the industry association of Ticino, which explains why the Swiss border remains open despite the lockdown in neighboring Italy.

World is losing battle to contain coronavirus, says president of ETH Board
Countries including Switzerland are abandoning efforts to keep a precise count of coronavirus cases and are focusing instead on helping hospitals cope with patient overload, says Michael Hengartner, president of the ETH Board and chairman of the Executive Committee. With a pandemic inevitable, the challenge now is to “keep the infection rate low enough that we can always manage patients that need to get hospitalized.”

COVID-19 may tip world into financial crisis, UN warns
The world is vulnerable to a financial crisis if the coronavirus epidemic drags on because it is already so deep in debt, the United Nation’s trade body warned in a report on Monday. An enduring health emergency will likely trigger margin calls, tighten borrowing conditions, and increase the risk of a stampede to sell assets not hit in the first round of market turmoil, the UN Conference on Trade and Development said. “This raises the prospect of a credit crunch in a period of high indebtedness,” despite very low interest rates, the report says. Hopes of a recovery will hinge on sustained and coordinated liquidity injections by central banks, more active fiscal policies, and renewed efforts to bolster trade. “Central banks should do whatever it takes in the face of the COVID-19, including directing credit for production and employment,” UNCTAD said. The world has been on a borrowing binge since the 2008 meltdown, when central banks pumped vast sums into cash-strapped markets and banks to shore up the system. At the start of 2020, total debt stocks exceeded more than $250 trillion, about three times global gross domestic product, according to the Institute of International Finance. Developing countries most at risk Developing countries are particularly vulnerable to a credit crunch, as many are already struggling with the highest debt levels on record. “For many developing countries that are facing debt distress already, I think we’re going to have to look at more radical solutions,” Richard Kozul-Wright, who oversees globalization and development strategies at UNCTAD, said in an interview Monday with CNNMoney’s Kasmira Jefford. “The need for a moratorium on debt servicing in some countries will also be necessary.” Economists have warned for years that such massive debt is a risk for the global economy. Record-low interest rates in countries around the globe have made it easier and cheaper for corporates, individuals, and governments to borrow. Last week, the U.S. Federal Reserve, which cut rates three times last year, slashed them by half a percentage point in response to the economic threat from COVID-19. The European Central Bank meets this week, and markets are pricing in a much smaller cut, given that rates are already in negative territory. There is also speculation that the ECB is preparing measures to provide liquidity to businesses hit by the outbreak.

More women in Swiss boardrooms
The percentage of women on the executive boards of Switzerland’s 100 largest employers has edged up to reach 10% for the first time, according to executive search firm Schilling Partners. When taking into consideration a broader boardroom study by Deloitte, that figure rises above the global average to just under 19%.

Coronavirus is good for the fertility business
The U.N. estimates the economic burden of women’s diseases to be in the tens of millions. But according to Lea von Bidder, CEO of fertility tracking company Ava, only 4% of R&D investment in health care goes towards female-specific health needs. Von Bidder tells us about the femtech gender gap and shares why the coronavirus outbreak is a boon for the fertility business.

Latest

Verkaufspsychologie im Fokus: Mit KI-gestützter Optimierung zur perfekten Sales Page

Einleitung In diesem Artikel berichten wir über Strategien, wie Sie...

Wie Unternehmen Gen Z beim Übergang ins Berufsleben unterstützen können

Die Generation Z betritt den Arbeitsmarkt mit beeindruckenden Stärken:...

Revolut im Überblick: Lohnt sich die Neobank für deutsche Nutzer?

Das Video: „Revolut Konto mit Zinsen, Unterkonten, Depot, Krypto:...

Mehr Umsatz durch Vertrauen: Reachstars Erfolgsformel

In der heutigen digitalen Welt ist Vertrauen eine der...
spot_img

Nicht verpassen

Verkaufspsychologie im Fokus: Mit KI-gestützter Optimierung zur perfekten Sales Page

Einleitung In diesem Artikel berichten wir über Strategien, wie Sie...

Wie Unternehmen Gen Z beim Übergang ins Berufsleben unterstützen können

Die Generation Z betritt den Arbeitsmarkt mit beeindruckenden Stärken:...

Revolut im Überblick: Lohnt sich die Neobank für deutsche Nutzer?

Das Video: „Revolut Konto mit Zinsen, Unterkonten, Depot, Krypto:...

Mehr Umsatz durch Vertrauen: Reachstars Erfolgsformel

In der heutigen digitalen Welt ist Vertrauen eine der...

Coworking vs. Homeoffice: Warum sich ein Büro außerhalb der eigenen vier Wände lohnen kann

Die Debatte zwischen Homeoffice und externen Arbeitsräumen ist für...
spot_imgspot_img

Verkaufspsychologie im Fokus: Mit KI-gestützter Optimierung zur perfekten Sales Page

Einleitung In diesem Artikel berichten wir über Strategien, wie Sie Ihre Verkaufsseite mit gezielten KI-gestützten Ansätzen optimieren können. Die hier vorgestellten Tipps und Anleitungen basieren...

Wie Unternehmen Gen Z beim Übergang ins Berufsleben unterstützen können

Die Generation Z betritt den Arbeitsmarkt mit beeindruckenden Stärken: digitale Kompetenz, Anpassungsfähigkeit und einem starken Wunsch, sinnvolle Beiträge zu leisten. Doch die COVID-19-Pandemie hat...

Revolut im Überblick: Lohnt sich die Neobank für deutsche Nutzer?

Das Video: „Revolut Konto mit Zinsen, Unterkonten, Depot, Krypto: Lohnt sich die App?“ Im Video wird die Produktvielfalt der größten Neobank Europas, Revolut, analysiert. Die...