Due to covid 19 economic fallout of this unprecedented lockdown has been dire. Businesses have closed, unemployment has risen and productivity has fallen.
India's growth engine was actually sputtering well before the threat of outbreak arrived. Once one of the fastest growing economies in the world, its growth slowed to 4.7% last year - the slowest level in six years.
Unemployment was at a 45-year high last year. Industrial output from the eight core sectors at the end of last year fell by 5.2% - the worst in 14 years. Small businesses had only just begun to recover from the controversial 2016 currency ban that came as a body blow to the cash-consuming informal economy.
Topic: Economy after COVID-19 - page 31. (Read 9008 times)
Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated. 
It doesn't mean that if we say "digital", it means that people are now using cryptocurrencies.
The central bank will always be considered as primarily used for any payment. It's just in another form which is cashless.
Bank transfer today just takes up a second before the other party will receive it. So fast and convenient.
I'm into crypto but that's the reality.
banks also evolve too and now have thier online versions and apps . they work like how any digital currency work and they are infact more secure but the only issue is that they arent anonymous as what crypto can offer so that can be the edge of crypto on why people will prefer it . banks will not collapse but people will now be more expose to digial transactions right after the covid . i think that somehow contributes to the economy too ?
current next block fee is about $6 USD, if no 2nd layer is ready, BTC will remain as a speculative asset like gold.
Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
It doesn't mean that if we say "digital", it means that people are now using cryptocurrencies.
The central bank will always be considered as primarily used for any payment. It's just in another form which is cashless.
Bank transfer today just takes up a second before the other party will receive it. So fast and convenient.
I'm into crypto but that's the reality.
I don't think that the changes in the economy will apply to every country. These changes will probably and mostly apply to developed countries. Not every country and people are capable of doing digital transactions. Yes, it's now an option but I think most people would still rely on the traditional transaction using paper money.
What changes could be applied because of this pandemic is the safety barriers and precautions when two people are making a transaction to lessen physical contact. What I can see during this pandemic is that people are relying on e-commerce but people still use paper money to pay for what they bought.
After this COVID, I think people will be more conscious and careful about their environment and will be more hygienic. The economy won't collapse because that's what they are preventing, neither central banks. People don't easily adapt to sudden changes like every transaction would be digital. And when we say digital transactions, it's not only decentralized crypto. They more likely to accept digital payment using e-wallets or cards.
What changes could be applied because of this pandemic is the safety barriers and precautions when two people are making a transaction to lessen physical contact. What I can see during this pandemic is that people are relying on e-commerce but people still use paper money to pay for what they bought.
After this COVID, I think people will be more conscious and careful about their environment and will be more hygienic. The economy won't collapse because that's what they are preventing, neither central banks. People don't easily adapt to sudden changes like every transaction would be digital. And when we say digital transactions, it's not only decentralized crypto. They more likely to accept digital payment using e-wallets or cards.
That's certainly true, mate. Not every country will be able to adopt digital payments in the time-being. Maybe in the next 20 - 30 years, everyone will be able to participate in the digital economy? What's needed is a global satellite network to broadcast the Internet even in third-world countries. As the pandemic marked our lives forever, people will get used to social distancing living on the digital realm. After a cure or vaccine is found, it'll be hard to go back to normal. There will be a new normal where people tend to value intangible items than tangible ones. With contactless payments, decentralized cryptocurrencies, and even CBDCs, the world's economy will never be the same.
One thing for sure, is that COVID-19 has brought us a valuable lesson. Most (if not all) people will be more responsible by taking the measures necessary to preserve hygiene, etc. Physical interaction will be reduced as much as possible as we transition into a new era where absolutely everything is guided by AI and other technological infrastructure. There are many wild speculations about how the global economy would be after COVID-19. I'm guessing that jobs will be realized remotely, while those requiring physical interaction (construction, hospitals, etc) will be performed by bots. All of this could happen in the future once the economy recovers gradually after the end of the COVID-19 pandemic. Just my opinion
Popularity of cryptocurrencies may increase or may have already increased because of this covid 19 crisis but for it to be totally accepted and use by all people as well as the government, I think it will still not happen, not yet soon. There are many other ways of making payment beside from using fiat currencies. We have credit cards, debit cards, even e-wallets are being used now. As for the economy, there's nothing else will happen to it but to recover. Many countries may struggle to recover and it may take some time, but they surely will.
With the ever-increasing need for social distancing, people are recurring to online payments and e-commerce sites. The longer it takes to find a cure for the disease, the faster our world will change economically. During the pandemic, people will be using credit/debit cards more than physical cash itself. It's no wonder since physical cash is known to carry germs and bacteria with them.
Now, imagine an scenario where the cure for COVID-19 have been found while people are directly attached to the online world. The economy might never be the same as before, since people will start to value intangible items over tangible ones more thoroughly. A world where everything is digitized or "tokenized" seems to be the economy of the future. By then, each country will have its own CBDC living alongside traditional cryptocurrencies we know and love today. China might be the first country to launch a CBDC, followed by the US and several other countries. The launch of government-backed digital currencies wasn't a subject that heavily touched by world leader before the pandemic. Now that coronavirus encourages social distancing, things will accelerate quite a bit in the development of CBDCs for the whole world to use.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
I think you should consider other intangible materials that people needs and it can't be done through online. Only payments and remittance can transact online but in terms of goods it's not. Bank will exist continously despite of covid 19 because people are more familiar using it and it has a big rule in government. Also transaction of fiat and decentralized crypto can be run through banks if ever they accept crypto currency and it will be great because crypto will spread its importance and usage specially in times of pandemic like this covid 19. And people will adopt crypto currency as part of economic changes. Now, imagine an scenario where the cure for COVID-19 have been found while people are directly attached to the online world. The economy might never be the same as before, since people will start to value intangible items over tangible ones more thoroughly. A world where everything is digitized or "tokenized" seems to be the economy of the future. By then, each country will have its own CBDC living alongside traditional cryptocurrencies we know and love today. China might be the first country to launch a CBDC, followed by the US and several other countries. The launch of government-backed digital currencies wasn't a subject that heavily touched by world leader before the pandemic. Now that coronavirus encourages social distancing, things will accelerate quite a bit in the development of CBDCs for the whole world to use.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
I think this pandemic will stay longer and second wave is already expecting like what happened to China where it is lockdown again due to some positive cases. If this will continue, the world's economy will be greatly affected as other countries are already extending loans because of their country's budget shortage. Some big establishments are still forced to close particularly those who are non essential.
Seeing the current situation, it is indeed positive that Covid-19 continues to surge until now, of course, with this outbreak, it will continue for a long time during this pandemic. will be very worried for the whole world.Lockdown is still in force today and even many people are starving because there are no jobs so they will survive difficult.
it will need time for all country to recover thei economic , but i think for develop country like japan and us , it will take shorter time rather than developed country
clearly for developed countries in technology and economics, despite experiencing problems in the economy, the impact is still different from developing countries. I agree that the country whose economy is advanced can quickly overcome the turmoil after the end of the pandemic. but not for developing countries will have a longer impact for recovery and of course need loan assistance from developed countries or the IMF to be able to complete in order for economic growth to recover quickly.So this way developed countries will partially help developing countries to overcome turmoil after the end of the pandemic
it will need time for all country to recover thei economic , but i think for develop country like japan and us , it will take shorter time rather than developed country
clearly for developed countries in technology and economics, despite experiencing problems in the economy, the impact is still different from developing countries. I agree that the country whose economy is advanced can quickly overcome the turmoil after the end of the pandemic. but not for developing countries will have a longer impact for recovery and of course need loan assistance from developed countries or the IMF to be able to complete in order for economic growth to recover quickly.It's like you say, for rich this will not be a big problem, for poor it will be a bigger problem, but who cares, it's the life they are living, they should get used to it by now. That's the economy we work for, that's the love in the world, who fucks others if we are at good spot.
Apparently we don't need to work on changing economy, before everything we should try to change our minds and the way we think, after that everything else will be easier to change. Can we see a better days for all of us or not? With current economy and thinking we are far away from that.
it will need time for all country to recover thei economic , but i think for develop country like japan and us , it will take shorter time rather than developed country
clearly for developed countries in technology and economics, despite experiencing problems in the economy, the impact is still different from developing countries. I agree that the country whose economy is advanced can quickly overcome the turmoil after the end of the pandemic. but not for developing countries will have a longer impact for recovery and of course need loan assistance from developed countries or the IMF to be able to complete in order for economic growth to recover quickly. How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
It depends on how long this pandemic will last, if it last for a year many economies will collapse, some countries are already allocating their budget to this pandemic and many countries are already making a loan from the World Bank and big countries, I don't think central bank will collapse they can still manage, it's the third world countries that will greatly affected.
it will need time for all country to recover thei economic , but i think for develop country like japan and us , it will take shorter time rather than developed country
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
It depends on how long this pandemic will last, if it last for a year many economies will collapse, some countries are already allocating their budget to this pandemic and many countries are already making a loan from the World Bank and big countries, I don't think central bank will collapse they can still manage, it's the third world countries that will greatly affected.
Cryptocurrencies are the future, but the government are not agreeing with it for now. Earlier Facebook tried to create Libra, the government refused to let them do it, because they feared that Facebook is trying to take over finances and whatever excuses they have got.
Now, some of them are talking about creating Central Bank Digital Currencies, and that has been the main subject before this pandemic broke out. China seemed to very serious about their cryptocurrency and I saw news that it was almost ready and I even saw someone show the application that was created for cryptocurrency how it looks like. They might still be towards that by now.
China wants to create a banal copy of the yuan, but only in a beautiful cryptocurrency wrapper. I am sure that no country will create cryptocurrencies that users themselves can mine using PoW or PoS, although the second option, at least, is fair.Now, some of them are talking about creating Central Bank Digital Currencies, and that has been the main subject before this pandemic broke out. China seemed to very serious about their cryptocurrency and I saw news that it was almost ready and I even saw someone show the application that was created for cryptocurrency how it looks like. They might still be towards that by now.
Cryptocurrencies are the future, but the government are not agreeing with it for now. Earlier Facebook tried to create Libra, the government refused to let them do it, because they feared that Facebook is trying to take over finances and whatever excuses they have got.
Now, some of them are talking about creating Central Bank Digital Currencies, and that has been the main subject before this pandemic broke out. China seemed to very serious about their cryptocurrency and I saw news that it was almost ready and I even saw someone show the application that was created for cryptocurrency how it looks like. They might still be towards that by now.
There was also a news that I read quiet long ago that IMF already uses Crypto or their own digital currency for purposes of lending to other countries, I don't know how much truth is there in this. But if it is actually true, but if it is true then the time when every country's currency which is coupled with their own digital currency isn't very far away. Even lockdown has also forced us to think of new ways of long distance financing and all. Now, some of them are talking about creating Central Bank Digital Currencies, and that has been the main subject before this pandemic broke out. China seemed to very serious about their cryptocurrency and I saw news that it was almost ready and I even saw someone show the application that was created for cryptocurrency how it looks like. They might still be towards that by now.
Cryptocurrencies are the future, but the government are not agreeing with it for now. Earlier Facebook tried to create Libra, the government refused to let them do it, because they feared that Facebook is trying to take over finances and whatever excuses they have got.
Now, some of them are talking about creating Central Bank Digital Currencies, and that has been the main subject before this pandemic broke out. China seemed to very serious about their cryptocurrency and I saw news that it was almost ready and I even saw someone show the application that was created for cryptocurrency how it looks like. They might still be towards that by now.
Now, some of them are talking about creating Central Bank Digital Currencies, and that has been the main subject before this pandemic broke out. China seemed to very serious about their cryptocurrency and I saw news that it was almost ready and I even saw someone show the application that was created for cryptocurrency how it looks like. They might still be towards that by now.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
It depends on how long this pandemic will last, if it last for a year many economies will collapse, some countries are already allocating their budget to this pandemic and many countries are already making a loan from the World Bank and big countries, I don't think central bank will collapse they can still manage, it's the third world countries that will greatly affected.
Need one year to recovery for economic crisis after corona virus end, many countries get negative impact after their country faces with corona virus, they have begin again how to recovery and make many people stronger to faced bad moment again with corona virus.
I don't a year could solve the economic crisis that we are having, the world have experiencing this crisis as early as 2019 economists already said we are actually experiencing an economic crisis, a year could have been enough for us to recover but at the end of the year is also a start of another struggle for the world, the pandemic, as we are all locked up thinking that a year could really be enough for this is a shallow thing to predict though. I'm expecting the recovery for more than a year, probably 2 to 5 years. 
Even though the pandemic virus has not yet done and still existing around the world, we know that there are many things that have been affected by it. There are many businesses that fail and if you know business supports our economy especially those big companies.
If this pandemic virus would continue existing around the world, there would be many people who will get suffered and our economy would suffer as well, if this virus has gone I don't think that it would be easy for us to recover our economy because of the damage of pandemic virus.
Even those first countries suffered from the virus, including Italy and China, and based on some news there are many people who died because of the virus and it's hard for them to say the recovery of their economy. How more for those 2nd and 3rd country.
If this pandemic virus would continue existing around the world, there would be many people who will get suffered and our economy would suffer as well, if this virus has gone I don't think that it would be easy for us to recover our economy because of the damage of pandemic virus.
Even those first countries suffered from the virus, including Italy and China, and based on some news there are many people who died because of the virus and it's hard for them to say the recovery of their economy. How more for those 2nd and 3rd country.
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