Posted 1 year ago | by Ben Armstrong

Consensus 2020 Will be Virtual This Year

The Consensus 2020 Conference, widely known as one of the most importat events in the crypto world, has decided to be a virtual event this year. Attendees from all over the world have been told they can join in on the event online for free, as the COVID-19 outbreak is wrecking the global economy.

Coindesk disclosed that Consensus 2020 will refund ticket purchase to anyone that already bought tickets within 60 days. The group says that the event would be back next year, but anything is possible at this point.

According to Coindesk, Consensus 2020 will be held online in May and is supporting the effort to limit the spread of COVID-19:

“We are working with best-in-class platform providers to support this effort and are committed to bringing the entire crypto community together with the high-quality content you have come to expect from CoinDesk. With premier speakers discussing the most important topics of our time, all coordinated by CoinDesk’s experienced journalists and moderators in a rolling live TV-like experience, we are confident a virtual Consensus 2020 will be an enriching experience for our audience. And everyone can enjoy it from the safety of their homes.”

Consensus 2020 is Making the Right Move

Launched in 2015, Consensus has developed as a major annual conference which gathers many crypto and blockchain heavyweights in one place.

Industry figures, including not only CEO of Square Jack Dorsey, FedEx's Fred Smith but also some officials from government such as the United States Securities Exchange Commission have all attended in the past.

Aside from Consensus, some other conferences also decided to go to virtual space amid the coronavirus pandemic.

Ryan Selkis, CEO of Messari, a major crypto analytics company, stated on March 12 that its virtual event series, “The Mainnet”, will be virtual this year. Apple announced that its Worldwide Developers Conference 2020 is scheduled to be held in a new online format in June.

A Bitcoin (BTC) advocate and self-professed “toxic maximalist,” Udi Wertheimer, is said to be in a process of developing a platform for crypto community meetups in VR format. It would allow people all over the world to interact with each other in the virtual world.

COVID-19 Disruptions are Just Getting Started

While all these developments are promising, the underlying economic implications of a global shutdown are staggering. The simple fact of the matter is that the global economy is crashing at a frightening pace.

Even with extremely accommodative moved by central banks, real economic output is unlikely to recover in 2020. While it is possible to keep meetings and conventions going by using the internet, the physical side of the economy is falling apart as countries try to stop the spread of COVID-19.