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Coronavirus: NYC blockchain week cancelled

All major New York Blockchain Week events set to take place in May have been cancelled. Coindesk is moving its Consensus event - which has seen upward of 8,500 attendees in the past - to online only. Ethereum production studio ConsenSys is doing the same with its Ethereal Summit. And finally, The Block is postponing its The Block Summit.

New York Gov. Andrew Cuomo announced last week that the state would ban all gatherings of more than 500 people due to concerns over the spread of the coronavirus. He also iterated that any event expecting fewer than 500 attendees would have to reduce capacity by 50%.

Coindesk CEO Kevin Worth and Chief Content Officer Michael Casey posted a joint announcement on the company’s website regarding their upcoming event: “Consensus 2020 will now be a completely virtual experience, where attendees from all over the world can participate online at no charge.” The announcement promised a “TV-like experience” that people can enjoy from the safety of their own homes.

The event is widely considered one of the most significant in the crypto space. According to a report last year, roughly 85% of Coindesk’s $25 million total revenue for 2018 came from events alone. Regardless, Worth added “zero staff layoffs” are to be expected as a result of the cancellation.

The events industry, along with countless others, faces a massive challenge ahead. Now more than ever, decentralised event experiences are going to have to become the new norm if event organisers and companies wish to remain relevant and retain profitability.

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