FOIN and Coronavirus outbreak

Dear community,

We find ourselves in troubled times because of the Coronavirus outbreak across the globe. Although the virus reach in Ukraine so far is limited, nevertheless, it will be a matter of time until many people will be affected by this virus. Until that happens here in Ukraine, we are announcing that all work will be done remotely. So what does that mean for FOIN’s future?

First of all, because we will be physically restricted to travel, it will slow down our efforts of business development where we are actively searching for merchants to integrate in FoPay or FSPs to establish partnerships. Although most of our team member’s work can be done remotely, some aspects of the business require personal contact.

Secondly, the virus outbreak has serious implications across the economy, affecting everybody from the small food shop around the corner to the large corporate finance company. FOIN will also be affected from this on the short term, as the people’s interest will be shifting away from abstract investment vehicles to more traditional domains. However, this is only valid for the duration of the crisis in which we all find ourselves in, which will be over sooner rather than later.

So what can FOIN do to adjust to this? We can better align ourselves to the current world needs where we apply our blockchain solutions to the current world needs, such as medical, food, transportation and other domains. We will not abandon the current mission to become the cryptocurrency for the finance sector and we will enlarge our scope. This will require a massive shift in leadership which will be addressed in a separate post, next week.

In the meantime, you are advised to follow the World Health Organization indications to stay indoors, wash your hands frequently and thoroughly and avoid any unnecessary contact with other people. In order to rebuild FOIN, we need to be physically fit to do so.

Stay safe, stay healthy!
FOIN Team