WHO encourages use of digital payments due to COVID19 - page 2.

Yatsan

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Quote from: Ozero on March 13, 2020, 12:14:52 PM

Of course, it’s very logical to switch to digital payments, including any form of cashless payments, now, in the period of the rapid spread of coronavirus. In order to overcome the coronavirus, people need to go outside less, to touch paper money less, which can be carriers of this infection for a certain time. Cashless payment for goods and services in this case is a good way out.

During this time, it is suitable and safe for all people to use digital payments such as crypto because of the threat of the corona virus. Since the virus cannot carried by air and the chances of getting it is more on droplets left in things, the use of fiat currency is at large. Using cashless payments does not mean any way out to the virus, it would just lessen the threat of the said problem but the thing is if everyone has it and know it. I'm afraid what this matter could bring if we do it hasty, we could possibly create another problem on different area without being foreseeing it.

Quote from: Ozero on March 13, 2020, 12:14:52 PM

In particular, this will facilitate the use of a decentralized cryptocurrency, as well as stable coins.

To use decentralized cryptocurrency is just for short term solution to this kind of problem coz government would obviously change it later on. Why? Coz they literally don't want it.

fudster

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Its time governments consider cashless transaction, not necessarily bitcoin or crypto but it would be great for governments to support cryptocurrency especially the government backed coins. For the purpose of avoiding the spread of the disease now that WHO is declaring it as pandemic. It has to start some country where their government allows crypto like Japan or Germany.

Ozero

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Of course, it’s very logical to switch to digital payments, including any form of cashless payments, now, in the period of the rapid spread of coronavirus. In order to overcome the coronavirus, people need to go outside less, to touch paper money less, which can be carriers of this infection for a certain time. Cashless payment for goods and services in this case is a good way out. In particular, this will facilitate the use of a decentralized cryptocurrency, as well as stable coins.

imstillthebest

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Quote from: davis196 on March 13, 2020, 02:58:40 AM

Quote

It's obvious why he suggested it to prevent having contact with money that a lot of people had previously own. This brings a chance for cryptocurrency to be recognized by the government.

Cryptocurrencies might be "recognized" by the government,but they can't beat credit/debit cards,Paypal,Transferwise,Skrill,etc. so your assumption is doesn't matter.
Bitcoin crashed by 50%!Do you think that people will use a "currency" that crashes by 50% after 2 days?
I don't see any retail merchant accepting crypto payments.Do you think they will accept a volatile currency as a payment method right now?

does crypto only mean bitcoin ? nope . there are other cryptos that are stable and there are those that dont crash hard yet these cryptos are okay to use for payment use more than bitcoin . its not about replacing or beating other digital payment methods but its about alternatives .

in a situation that we are experiencing right now which is hard, people shouldnt think of the competition but they should think of the alternatives on how can we continue our lives without risking our selves.

davis196

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Quote

It's obvious why he suggested it to prevent having contact with money that a lot of people had previously own. This brings a chance for cryptocurrency to be recognized by the government.

Cryptocurrencies might be "recognized" by the government,but they can't beat credit/debit cards,Paypal,Transferwise,Skrill,etc. so your assumption is doesn't matter.
Bitcoin crashed by 50%!Do you think that people will use a "currency" that crashes by 50% after 2 days?
I don't see any retail merchant accepting crypto payments.Do you think they will accept a volatile currency as a payment method right now?

tbterryboy

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This is not the first time that someone is recommending that people should make use of contactless payment. In fact it has been repeated a lot of times and I was thinking that by now that a lot of people would have recognized cryptocurrency, especially Bitcoin, and made it their choice but instead I noticed that they were all going for other payments like mobile banking, PayPal, and WeChat Pay (which is currently trending in China).

Where I live there is no place where you can make payments with Bitcoin, it’s mainly mobile banking and some kind of QR codes payments that are part of the services being offered by banks which customers can scan and make payments. Seems like cryptocurrency is not gaining recognition and it’s quite disappointing, the only places you can see Bitcoin being accepted is online.

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Quote from: Meowth05 on March 12, 2020, 07:51:43 AM

This kind of approach is hitting two birds with one stone. It prevents the spread of the contagion and it also helps in promoting the use of cashless transaction, thus in turn promotes cryptocurrency which is a very big step for the establishment and stabilization of cryptocurrency to the general public.

Well, I'm not sure how this is really helping to prevent the spread of virus. Money bills are not the only way or more dangerous how you can catch the virus.
However, I agree this might help that more and more people use cashles payment options and hopfuly that will turn into their habit even when virus will be gone.

fiulpro

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Since it has been already termed as a Pandemic , it's close to hitting an economic crisis . Paper money is a breeding ground for the bacterias , even though it can just serve as a mode of transportation for the viruses , it's still lethal , money would never be thrown away by people the least and it can go beyond the borders really fast.
Therefore it's only right if the people are using the online mode of payments since it's harmless , gives you instant discounts on most apps and malls , safe and widely accepted.
It's time for the credit and the debit cards to be out .

NavI_027

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Quote from: Meowth05 on March 12, 2020, 07:51:43 AM

This kind of approach is hitting two birds with one stone. It prevents the spread of the contagion and it also helps in promoting the use of cashless transaction, thus in turn promotes cryptocurrency which is a very big step for the establishment and stabilization of cryptocurrency to the general public.

Indeed

. It's WHO! That is not just a small celebrity or icon who is trying to hype the use of crypto but an international organization. It surely contribute a lot of positive feedback on crypto. For me this is the best form of advertisement we could get at this moment so let's cherish it while it lasts. I am not saying that I want the virus last longer, what I am pointing is I hope crypto will be adopt continuously even if the virus was totally cured. *sigh At least we can still see good things happening despite of the negativity in the first 3 months of 2020. God is good after all.

Meowth05

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This kind of approach is hitting two birds with one stone. It prevents the spread of the contagion and it also helps in promoting the use of cashless transaction, thus in turn promotes cryptocurrency which is a very big step for the establishment and stabilization of cryptocurrency to the general public.

slashz9

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Quote from: Findingnemo on March 10, 2020, 12:21:25 PM

Money is the medium which is used by everyone in the world so it has been a primary reason why of a virus getting spread but this won't increase the adoption of cryptocurrency by the way because there are not many places we can spend actual cryptocurrencies so it is all about digital bank transactions.

yes I also believe so, because digital money is now more dominant like paypal, visa, or other transactions.
while crypto for now people prefer to use it as an investment vehicle or commodity where they expect profit rather than as a daily transaction that is used fiat.that is why the corona virus has no effect on the crypto market.
but it impacts other sectors such as stocks, and industry, and the currency of each country.

Vishnu.Reang

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Even here in India, there have been a lot of campaigns lately urging the users to go for digital payment options rather than physical cash. Unfortunately, when they mean "digital cash", they are referring to digital versions of fiat currency (such as PayTM, Google Pay.etc). Bitcoin is not being heard in any of the campaigns. My biggest fear is that the government will try to eliminate the usage of physical cash, giving the excuse of COVID 19. They can do surveillance on individuals, if they are forced to use the digital versions of fiat currency.

Harlot

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I think people are always overplaying what WHO says with regards to “contactless payments” in all the news I have seen so far. They make it look like this is the solution to stop the outbreak and this is the way not to get infected but the truth is banknotes are not even the ones soreading the disease but the people who are using them. WHO and dozens more of health organizations, health departments, and universities already claimed that hygiene is something we need to focus more on loke washing our hands thoroughly and cleaning surfaces woth disinfectants. Hygiene is so important that the doctors and nurses are not even recommending wearing a face mask for those who aren't infected. My advice is for you not to get carried away with the dozens of recycled news we have seen related to this.

el kaka22

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I guess it is just common sense, think about it if you lived in a place with corona virus would you prefer to exchange money on hand or would you simply prefer to do it digitally.

However, this doesn't mean that money has to be digital in crypto form, it could be very well debit card or credit card that you can use yourself instead of others or you can simply pay with an app reading a QR code as well and all that would be safe as well so I am assuming the number of that would increase instead of crypto numbers increasing.

Crypto would see a spike as well of course but not all that much to make any difference if you ask me. Adoption has been stagnant since 2017 peak times and the following bear, I haven't realized any big new adoption increase at all and doubt this will be the new one.

Darker45

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Money is dirtier than most objects. Imagine how many people will hold a single piece of paper bill or coin while it is in circulation. And for its whole life span, it is never disinfected. Any kind of people will use cash. Especially in my country and other developing countries, our money is very dirty; it is being used in transactions in wet markets, in street food stalls, in the public transportation, in buying food, in paying for a comfort room fee, and so on and so forth.

I guess this is the first time that I hear of cash being disinfected and even quarantined. For so long a time, it has always been a carrier of bacteria and virus that cause diseases. And as much as possible, I agree with WHO, we should really try shifting to digital payments. Crypto is, of course, a good option.

Kakmakr

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When I brought this up in a previous thread I created, people said I was stupid and I misuse significant events to hype Bitcoin use. See this thread - https://bitcointalksearch.org/topic/bitcoin-can-save-some-peoples-lives-5224884

Now the WHO are saying the same thing and it validates my concerns raised in that thread. Wink

Just imagine what will happen if some terrorist find access to a Covid19 infected person and they start circulating infected Bank notes and coins. < You get suicide bombers, so I guess it would not be strange to get someone that would willingly infect themselves and their money to kill 1000's of people.> Angry

I guess nobody would be able to do that with bitcoins, so it is just another advantage that Bitcoin has over Fiat Grin

exstasie

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They are talking about "contactless payments" meaning cards, smart phones, etc. that use RFID or NFC.

They also said this so let's not go too crazy:

Quote from: LeGaulois on March 10, 2020, 12:56:26 PM

Did you know that without considering COVID19 banknotes are already full of bacterias (i.e. staphylococcus)? It's also a great vector of Hepatitis C and that's how people get infected without knowing it.

In this case why not always put in quarantine the cash before going to circulation?

What about credit cards? They are apparently even more germ-infested than cash: https://www.fastcompany.com/90353937/hate-credit-cards-now-you-have-yet-another-reason-to

Xampeuu

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Fiat money becomes an effective means of spreading the corona virus, so that from Fiat money the spread of this virus can spread quickly and be able to survive on fiat money for several hours. if WHO recommends the use of digital currencies, I think it is appropriate, in order to inhibit the spread of this virus, because this virus is always developing so that various climates in the world can become a nest

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Quote from: plvbob0070 on March 11, 2020, 01:59:15 AM

Quote from: hatshepsut93 on March 10, 2020, 01:52:03 PM

I think cryptocurrency is far from the first thing that comes to the minds of government when they hear "contactless payment" - they would likely think about bank cards, PayPal, GooglePay and so on. There might some small chance that it will indeed lead to crypto recognition, but I think at times of the crisis no one will have time to think about crypto. And potential adopters might be scared off by crypto's volatility, as we see that crypto markets aren't doing well now.

You have a point. Not everyone would want to take a risk on crypto especially when there's an issue like this. Like what you have said, there's a higher possibility that they would go with card payments but crypto payments can also be their option if they have or they want to. It's not necessary that they will shift from fiat to crypto. But since Korea has recently legalized crypto, it will give crypto a higher chance to be noticed by Koreans.

Slowly but surely maybe some will switch to crypto as a means of payment because at times like this condition or being crunched crypto may be relied on but must go through contact, but this is still not fully acknowledged even though Korea has legalized crypto in other countries but other countries We have not yet received the presence of crypto, so it is still a negotiation, and is it possible that we will adopt many other countries, of course we know that.

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Quote from: hatshepsut93 on March 10, 2020, 01:52:03 PM

I think cryptocurrency is far from the first thing that comes to the minds of government when they hear "contactless payment" - they would likely think about bank cards, PayPal, GooglePay and so on. There might some small chance that it will indeed lead to crypto recognition, but I think at times of the crisis no one will have time to think about crypto. And potential adopters might be scared off by crypto's volatility, as we see that crypto markets aren't doing well now.

You have a point. Not everyone would want to take a risk on crypto especially when there's an issue like this. Like what you have said, there's a higher possibility that they would go with card payments but crypto payments can also be their option if they have or they want to. It's not necessary that they will shift from fiat to crypto. But since Korea has recently legalized crypto, it will give crypto a higher chance to be noticed by Koreans.

Quote from: kaya11 on March 10, 2020, 01:55:47 PM

I have been never been bug by the virus not until today when suddenly our country has confirmed 35 cases total, mix Chineese and local citizen, some are panicking already since this could also mean that the contact to contact is real and it could already gone too far. For now we cannot feel the tension because the numbers are small, sooner or later when it would be more than hundreds and counting then the country will be in a statee of calamity again, just recently it is because of a Volcanic eruption. If I were to ask- I would change all my money to crypto just to make sure that my valuable assets are safe.

Even with the low number of cases, it still bothers me because of the incompetency of our government. Unlike other countries who can handle the situation very well, I'm afraid that this small number of cases will double in just a short period of time. We have limited test kits and not everyone is capable of handling the expense of going to hospitals. Look how our citizens act on this kind of situation, instead of helping each other, they're hoarding necessities and selling it at double price.

It's up to you if you want to put all of your money in crypto. But what I'm just trying to say is that crypto can be an option or alternative to lessen physical contact transactions and holding paper bills that have various bacteria.

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