Topic: WHO encourages use of digital payments due to COVID19 - page 3. (Read 454 times)

Yeah you are actually right the virus are getting spread quickly because of the primary currency that we are using in our daily lives. That why we need to use the digital bank transaction for our daily safety and its really easy to use and we need to spred it.

I think in such an economic condition, bonds are risky too because if huge inflation happen (which is not impossible), bond will be returning nothing.

Yes, you are correct because most people don't know about crypto. In my country, people will take bkash as contactless transaction and it's available in most of the shops.

It won't be safe from volatility though. Better diversify it to 3 or more assets such as gold (which is currently skyrocketing), bonds, etc.

That being said, I believe contactless payment alternatives other than crypto has been used since years ago. NFC payment card, or using your phone to pay is relatively familiar for South Korean for example. I won't be so optimistic about this. Better spend the time to develop and increase more nodes to strengthen the network.

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.

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.

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?
In the old-time to avoid contamination, Australia started to use banknotes done from synthetic polymer and a lot of countries followed the example.

If you think this quarantine of money can give a legitimate reason for governments and central banks to recognize the cryptocurrency.
Tell yourself they'll never use a currency that doesn't depend on a state and also, most central banks are working on their own CBDCs (central bank digital currency) which have a lot of better chance to be 'recognized' than crypto. In 5-10 years half of us will be using it.

So instead, perhaps COVI19 will just seed up the realization of this, why not...

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.

Corona Virus has been a big issue that disturbed everyone not only in China for months. But this outbreak never stopped and it continues to spread in the different country putting everyone in fear. With the huge number of cases, central banks had to quarantine their banknotes just to lessen the possibility of spreading the virus.

If you're curious, you can see the previous thread I started regarding South Korea quarantining and even burning their cash

February 15, lenders in China were asked by their government to disinfect their money for 14 days. Federal Reserve also trying to set aside US dollars from Asia for 7-10 days before including it in circulation. Also, the Bank of England advises its people to wash their hands after handling money because it can hold bacteria and viruses.

With this outbreak, a spokesperson of WHO said that “people should use contactless [payment] technology where possible.”



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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. Suggesting less physical transactions means that cryptocurrency can help with that. To avoid having contact with different people, we can use cryptocurrency for transactions that we don't have to touch any paper money or even have close contact with the people we're having a transaction with.

Those countries with a higher number of cases of the virus should try looking at this opportunity because even with a small part, it can help them and their people to keep themselves safe. Countries like China and Korea who have a great number of cases can adapt to these changes easily because they are a developed country. Instead of continuously putting their bills on quarantine, they can lessen the work if they would be willing to adopt it. Recently, Korea had legalized cryptocurrency which makes it easier for them to adopt it.