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The COVID-19 has undoubtedly caused havoc in society and the economy, many companies have had to stop their operations, since, because of the quarantine the employees have not been able to show up and because of government orders for the safety of everyone, we must be in our homes, so, all these situations have greatly boosted alternative technological solutions, of course especially to blockchain and crypto currencies.
In that sense, in this post I want to detail how the digital initiatives have advanced around the exponential growth of the Blockchain development at a business level and because the Blockchain and the Crypto currencies are a fundamental part of a possible unprecedented global change after this global crisis.
Without further ado I will start...
The Blockchain and the Cryptocurrencies are becoming increasingly popular
The cryptographic ecosystem is advancing incredibly fast, an endless number of projects are taking advantage of promoting themselves and making themselves known on social networks, taking into account that the vast majority of people are at home and are also looking for these alternatives to be able to earn money working online.
Another detail to highlight is that China is currently leading a great digital initiative based on Blockchain, creating the digital Yuan, also called DECP, which are developing the same with impressive speed, noting that governments are already seeing the great potential that this technology has which postponed translates into greater adoption for cryptoactives.
Also this crisis and the negative impact it has had on society, has forced people to seek assets to shelter and protect their money, this of course I have already commented in previous publications, also not only the COVID-19 has prompted people to seek alternatives to fiat money for their shelter, also the unbridled printing of money from governments to help many people is what brings higher inflation over time, another reason to seek digital alternatives.
Initiatives to improve the ecosystem
Provide an additional layer of security: Thanks to the Blockchain technology, many industries are making incursions into this type of technology in order to provide greater security to their systems, and every time more time passes, the blockchain and its development becomes stronger and more necessary due to the transparency it provides.
A greater transparency: The Blockchain technology promotes the decentralization and thanks to its immutability and that nobody can modify any registry, it is the most viable and safe option to avoid corruption at all levels.
Improve the payment system: The crypto currencies thanks to the blockchain technology offer a fast and easy to use payment system, the best thing is that you don't need an intermediary to be able to execute a transaction, besides many of these crypto currencies like for example the Bitcoin, are a finite asset, which means that you can't print more than 21 million that exist, which also gives it a deflationary state and a refuge asset, emphasizing that this is a characteristic that every good money should have, which is not the case with the fiat currency in control of the governments.
The world after COVID-19
I don't think people understand that at this point there is no "return to normal". Even if the virus were to disappear right now and everyone went back to "work," the behavior of billions of people and almost every country has changed permanently. Demand will not magically be restored, borders will not be reopened so easily and international relations will not be the same.
These are the main crises today:
- A pandemic crisis.
- A crisis in the supply chain.
- A crisis of demand.
- A crisis in the labour market.
- A crisis in the capital market.
- A crisis in the oil industry.
- A crisis in the bond market.
- A crisis of the world's major currencies including the dollar and the euro.
- A crisis in the real estate sector.
The virus infected the entire economy and pushed us into a depression worse than that of 1929. However, the virus was only the match that started the fire. If it had not been the virus, it would have been something else, the central banks' balance sheets were at record highs, the stock markets were only rebounding due to the liquidity measures of the Fed and the ECB, real growth in the economy had stagnated in recent years and the derivatives market had become a monster that could destroy the entire economic system, as Warren Buffett warned in 2008.
The world has been in a depression since 2008, and the people in charge know it. The economy has been on a respirator ever since, in a deep coma. We don't know if he'll ever wake up.
Positive aspects after the crisis
I have been publishing about the best investments that in my opinion could safeguard our money and also obtain returns in time, these assets like Bitcoin and gold and of course many other cryptographic assets with very good utility, could be an excellent investment due to what I have commented before. Everything that the blockchain brings to the world at the level of decentralized The future is simply one of digitalisation, transparency and usability.
Already many crypto currencies offer an instant cross-border payment system, which makes them an excellent alternative for remittances, they also offer a decentralized environment with transparency to avoid corruption in the systems and additional these initiatives can be tokenized depending on the business model. Therefore, in my opinion the digital era after this crisis will increase much more and of course the adoption in the cryptomonies and blockchain as well.
Finally, I hope in the comment box the interactions and your opinions regarding this topic, for me it is the future, tell me what you think? Don't forget that, for any doubt or question regarding everything that is the financial world, blockchain, cryptomonies and how to grow in this ecosystem, we are completely at your service, if you want me to talk about a specific topic you can also leave it in the comments.
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