Topic: A Post-COVID World Powered By Blockchain Technology (Read 214 times)

It would be a dream come true if Bitcoin becomes adopted as a reserve currency. But I doubt that'll ever happen, as governments want to enforce control above anything else. Bitcoin is decentralized, meaning no one can control it. This goes against what governments have established in the first place. My guess is that governments will continue full speed ahead in the development and implementation of a CBDC. A post-COVID world will definitely be adapted for the 21st century. Most jobs will switch to the digital realm, while governments will provide their services to the people via the use of Blockchain technology. Imagine working remotely, seeing your doctor remotely, taking classes solely online (physical campuses will cease to exist), paying using a digital currency (either through crypto or a CBDC), shopping online (no physical stores will exist), and even getting your drivers license in a digital manner (secured by Blockchain technology). This will usher a new era never before experienced in the course of human history.

As long as governments continue to express interest into Blockchain technology, the industry will continue to grow like there's no tomorrow. Before we know it, we'll be interacting with the Blockchain under the scenes for everything we do in our daily life. People won't even notice they're interacting with the Blockchain as it'll be the backbone of our society. With COVID-19 taking the world by storm during the course of 2020, adoption of crypto/Blockchain tech is accelerating at a fast pace. It may not be long before a total transformation takes place in the mainstream world. Just my opinion

The provision of cashless society still provide a condition for the Government to allow transaction within their economy without cash and online, so covid will not be excuse to allow the decentralized coin to take over the economy, bitcoin is not meant to replace fiat but to exempt cases of transaction without it. Since have been hearing of the advent of cryptocurrency by any Government have not seen a breakthrough coin in this market. Vaccines are coming out next year and our normal life may resume soon

I am expecting big fundamental boost for bitcoin and crypto coming from new American administration. The future of money is decentralized and digital for which cryptocurrencies suit the best and regardless of covid-19 it is a fact that cannot be denied.

That's certainly true, mate. It might take decades before we're able to experience a fully-digitized society. It's no secret that Blockchain technology is the way of the future. With remote work (telework), our economy will transform in ways that were never imagined. As COVID-19 continues to expand, the adoption of Blockchain tech accelerates at a fast pace. Already, Bitcoin and other cryptocurrencies have experienced increased demand on the market. It shows us that people are becoming more aware of the benefits of Blockchain.

Nonetheless, we're about to obtain a COVID-19 vaccine real soon. This tells us that the pandemic will not last for long. While telework and adoption of digital payments have increased, there are still many areas which require physical interaction. The whole transformation of the mainstream economy has not occurred yet. Which is why I believe it'll take much longer that I've expected for the world to adopt Blockchain tech to a full extent. Slowly but surely, we'll use Blockchain for nearly everything we do in our daily lives. Just my thoughts

Not far from the truth mate, there are series of projects that has been in this industry which rendered the investors useless, but hope the coming global adoption among cryptocurrency don't bring in another disaster like what we saw in 2017. There are millions of projects from 2009 till date that are worthless but the negative of this is that they have mopped out investors money, hope this don't repeat itself. We look forward for that world when projects will put first the happiness of their investors before theirs.

Very true because prior to covid_19 the world economy was already heading towards cashless economy and blockchain was projected to be the thriving force to actualize that dream and that will bring blockchain to it mainstream but a lots needed to be done as regards adoption.

It looks like, before talking about blockchain technology and its mainstream use, one need to first address the area of mass adoption, that is, how many people even knows what blockchain is all about, how many people can access cryptocurrencies easily and so on. During the pandemic, it was evident blockchain and cryptocurrencies are needed in order to reduce the spread of Covid-19 and all that, but the challenges that kept coming up was that, not many stores or platforms accept cryptocurrencies as a means of payment, hence the depending upon fiat over and over again.
However, I believe that with constant development, at least many platforms are coming onboard, that crypto will be adopted and with that, more people will be educated, crypto will be easily accessible, therefore people will use crypto for payment of services since there will be more stores or platforms that will accept them.

I have been imagining that this kind of set up will eventually happen though, with or without the COVID-19. I mean there are already countries in Europe who are going cashless for years now with their credit and debit cards so it is just a matter of time. But with the COVID-19 scenario, really accelerate everything. Supply chain, logistics are also experimenting with blockchain technology, Banks to help them get rid of paper trails. And so with the 'new norm', the technology was put into spotlight pushing it at a rapid pace that no one expects because of the effect of COVID-19. But it's good in the long term though, private and public sectors really need to take advantage of blockchain technology to help them specially those who are processing tons of data and make their business decision base on it.

It seems like vaccine is not coming out anytime soon and even if one successfully launches in next 2 to 3 months still it will take atleast a couple of years to reach everyone worldwide. So taking this scenario in consideration and also realizing that being careful is the best option in these tough times so definitely crypto and digital payments should be encouraged more and more so that paper money can be discouraged which can help spread the virus from one person to the other.

There were speculations that Covid19 will end by 2024 so it would take time and before that year many things will change including the adoption of cryptocurrencies, its still a short period of time actually that after just a decade and a half, blockchain can take over old finance technology and probably other systems too.

Our predictions that computers, robotics and machines will be the first to take over in the future but the guys back in the 20th century had not seen blockchain coming.

During the pandemic, people stayed at home more and had more time on the internet. Besides, bitcoin and cryptocurrencies have also proven that it is more suitable for internet payments than fiat currencies.
Perhaps for such reasons, we are seeing bitcoin and cryptocurrencies still rising despite the pandemic

This is the first time in a long time that I have been worried about inflation due to the extreme money printing. Crypto seems even more appealing now

But the fact is people start to adapted to new Blockchain technology. The people had gained knowledge about Blockchain technology by the Pandemic time. It had became a source of income for some people in covid time.

Whether covid or no covid, it is simple to accept the fact that blockchain technology, cryptocurrencies and digitalization and automation is the future and it will be used and implemented across all sectors of society for increased efficiency, transparency, cost effectiveness, removal of middle man and automation etc.

Digital currency had a impact in economy during the pandemic situation.Many big shot get into bitcoin now.So it will had a good impact on price of bitcoin.Many officially said their involvement in the cryptocurrency and investment on bitcoin.

Again a really good topic to discuss put forward by Abiky and thanks for that.

Automations and digitalization started way early back when we sent first humans to space and we have evolved really great since then. I was watching the "First Man" movie and was stunned by the technological advancements we have gone from 1969 to till date and its very much true that if we had been advancing at the rate at which NASA thought to land the man on the moon, we would have launched the Lunar gateway at the beginning of 2000s and thereby colonizing Mars by 2020s. This is speed at which humans thought process work and digital life is just around the corner.

I am very much sure we would just be hosting servers and nothing more physically in the upcoming decades. Our work would be completely digitalized with the exclusion of civil, mechanical or electrical engineering projects but at the same time these projects will be heavily dependent on the digital revolution. Today none are using hand drawn images for planning stages and everything shifted over to CAD, Revit and STAAD.Pro software. Blockchain technology on the whole is something similar to the Internet revolution and we would be experiencing new up trends only when giants start utilizing them in their architecture. Governments depend on these tech giants and blindly follow what they say through their advancements.

A simple example was the usage of Amazon on large scale. Amazon had the freedom to sell products over the internet and when they became famous, government went by the way. The same thing happened with facebook, whatsapp and Instagram where social media was used as a medium for free speech. When these giants bring in more and more digital payment solutions and bring in advancements through blockchain, governments will most likely regulate bitcoin and blockchain technology. Coming to your questions, after the demise of COVID a percentage of digital well being will rise and over the next decade we will be watching more companies building their apps on top of this underlying technology.

People have already moved onto digital money but the problem with these are that they are being controlled by government, the governments can print as much as they and more importantly banks controlling our currency. If Bitcoin can be adopted as reserve currency we (the early investors) might become filthy rich but still they are too early to say

It's somehow noticeable how people are now trying to adopt more on technology in their daily lives because of the pandemic like more people are now getting into digital transactions. However, I can't say that the adoption phase of blockchain technology after this covid and pandemic issue will be that fast since the majority are still into physical cash. It's still too early to say that we will get that blockchain mass adoption. Even countries who are planning to initiate cbdc will still take time so it's the same with blockchain and crypto.

You must differentiate between the transition to digital systems, blockchain, and cryptocurrencies, which are similar concepts, but the difference is essential between them.

Transitioning to digital systems and digital currencies/avoiding cash payment is a trend for many countries, but we will not witness real liquidity movements in the short term of one to five years.

Blockchain can be used in many fields and the economic sector is part of it, but this does not mean that the use of blockchain means the use of cryptocurrencies.

cryptocurrencies are based on the premise that they are decentralized and there is no central authority that can control them. Otherwise, they are digital tokens, even if they do not call themselves that.

I don't think everyone will abandon physical currency for the virtual ones. We will see communities combine both physical and virtual currencies, some will use only physical currencies while others will go fully virtual. What is important is that people are free to choose what is safe and best for them.



Well, I hope people adopt truely decentralized Blockchain for their world if they don't want or like tyranny & evil dictatorship. A blinded world needs Blockchain with lots of features like decentralization, transparency, immutablity,  right consensus/rules, privacy/anonymity, permissionless/trustless  to prevent/avoid total takeover by corrupt dictators/tyrants.

The very first revolutionised by blockchain technology will be Banking, I think. That has to be done as well to cut out intermediaries. Singapore's biggest and multinational bank - DCB has taken a step ahead and every bank will join eventually. (https://morningtick.com/2020/10/27/singapores-dbs-bank-plans-to-launch-a-crypto-exchange/) Adoption in other sectors is a bit hard but the banking sector is something that can push major sectors including health, eCommerce etc.

We really can't deny the the digital world really played an active role during this pandemic times. People saw the potential of digital currency and business further and I can see that maybe, this pandemic really is one of the catalyst that will make cryptocurrency spread to people. We can't deny that big companies and personalities are getting bullish on Bitcoin now so we might see something positive after Post-COVID.

CBDC is the only digital currency that will make this happen, other top coins and Bitcoin will be there too but do you know how many projects are build for payment solution that end up in the dust bin? New crypto projects aren't encouraging at all, if mass adoption is going to take place it will be because of old coins like BTC, ETH, LTC etc

We can say this will happen only in the cities while those who are living in remote areas don't prepare this kind of automated payment without the involvement of physical cash. until most of the rural areas are developed we won't really go to such eras when everything is automated except Japan where they advance with their technologies obviously and other countries that have some unique technology development than the others.

Yes, it's too early. Not all sectors of the economy can be digitized quickly, say until COVID19 ends. Even in agricultural countries you can find many physical jobs and traditional trades that do not allow digital payment methods. At least we have to wait until all the world's population is a "digital generation".

Remote work has indeed started to thrive since crypto was introduced. This pandemic phenomenon has only contributed to the growth of new entrants to the digital economy.

I have thought about this many times, the Covid pandemic has affected the lives of people in the world and sadly it is still going on and cannot be stopped. It gets all the work delayed and we have to work online and I see this may be the moment when we completely change everything, technology is very important and here blockchain will be embraced with many services. developing more. And that could require a big change for this school, as you mentioned the CBDC, which I see will be key for countries to access cryptocurrency.

The pandemic and social distancing bring the world to another stage and increase the speed of evolution. Some industries have changed their human resource management and their companies changed from physical offices (with fixed and high expenses) to remote and virtual offices and save more fees for companies' operational activities. It is better than before the pandemic.

This is a different story. The world talked about the evolution and changes from blockchain, bitcoin, crypto in 2017 and we had many new projects were born (with ICO) and claimed that they will change the world. Most of those promising projects failed and dead. The pandemic gives scammers another period to hype their scam projects.

In the future, the world will be changed much more by blockchain technology but at the moment if anyone tells you about that, don't believe is better.

Have you ever wondered what our world will look like after the demise of COVID-19? As we enter an era where the mainstream economy becomes "digitized", Blockchain technology will be at the forefront of innovation. From keeping track of the supply chain, to proving ownership, Blockchain will be finally integrated in our daily lives. Already, we're seeing a boom in demand for decentralized cryptocurrencies. Banks have announced they'll launch CBDCs of their own, enabling a truly cashless society in the not-so-distant future.

On the other hand, more companies are beginning to offer remote jobs as a means to prevent mass infections of COVID-19. Doctors are even recurring to "telemedicine" at a fast pace. With how quickly the world is evolving, it seems to me that we're heading into a digital era never before experienced in our lives.

What impact will Blockchain technology have after the demise of COVID-19? Will everything be automated without middleman? Will people resort to physical cash once more or adapt to the new monetary system powered by CBDCs? Or is it still too early to tell? With how successful crypto and Blockchain technology have been since their inception, it's likely our world will adopt Blockchain technology to the fullest.

Thoughts?