Corona virus may stimulate central banks to adopt digital payment

[Magdsolieman]

 

Researchers from the Bank for International Settlements (BIS) believe that the Corona virus may accelerate the adoption of digital payment and end the debate about central bank digital currencies (CBDC).
They released their study in a bulletin yesterday, April 3, and they said that the COVID-19 virus alters the public's relationship to criticism, although the scientific community is unanimous that the transmission of the Corona virus through banknotes is relatively unlikely but there are many doctors who supervise finding corona virus treatment say Banknotes are the fastest way to transmit the epidemic, so digital currencies should be used for payment in order to reduce congestion in centers and reduce the movement of banknotes between hands

My question is will cryptocurrencies benefit to reduce the spread of the Corona virus?

[Touhid]

people's tendency to use crypto in trading or as a means of payment is very low. most of them make short trades to benefit from the movements in the market. functionally crypto as a means of payment I think is still not realized.

[evet]

Yep. Corona has been affecting the value of crypto in a negative way, now if the spreading of corona is at least reduced then it would affect the value of the crypto positively. This might then be resulting to the value of the crypto to slowly crawl and rise up. 

[lideralex]

for sure you will have to adopt if you don’t want to lose your customers because it’s going to be the only way to deal with money until now of this corona virus ...

 

 

 

#CampaignStakeStayInHomePlayingAtStake#

[Bimfo]

The cryptocurrency maybe the best way to transfer money and do some transaction during this corona virus period. But the thing is those Central Government may want to have a cryptocurrency they can monitor and have control over on. And that is not the essence of cryptocurrency. The crypto was created so that it will be decentralized and no one will have total control over it. Each miners, getting their miner fee and they don't even know each other. 

But that will not be the case of cryptos and that may spell doom for alt coins. 

BTC may also be too big to transfer money less than 10 $ because the transfer fee and the miner fee will supersede the money that is being sent.

There are a lot of things that will want to be regulated if the Government wants us to use the crypto for transferring of funds, and that maybe against the White paper of the fathers of cryptos BTC.

[Kariuki]

I think it has been one of those methods that have and has always been offering an alternative to traditional money transfer the best being that people are able to change a lot there is a lot to be be chanced and people are even able to run this market and continue transacting in this kind of businesses, because there is reduced transaction phisically thus reducing the way people and human contract the virus so adopting online payments is really important and bitcoin offers that solution, how ever its important you know that the transactions are pretty high.

[Touhid]

Cryptocurrency should be use at this point in time but so far no government is taking the effort to recommend such usage and implemented it thoroughly, many have undermined it's usage instead people dump their share and converted it to fiat, because with fiat they have lot of option to use it in hoarding foods and other basic needs.

[nasima begum 00]

With the current realities on ground, people may be encouraged to use digital currency but a stable coin will be most likely advised to avoid people encountering losses due to bitcoin and altcoin volatility. Cryptocurrency is easier and faster than all these itune and gift card.

[Soli]

8 hours ago, Magdsolieman said:

 

Researchers from the Bank for International Settlements (BIS) believe that the Corona virus may accelerate the adoption of digital payment and end the debate about central bank digital currencies (CBDC).
They released their study in a bulletin yesterday, April 3, and they said that the COVID-19 virus alters the public's relationship to criticism, although the scientific community is unanimous that the transmission of the Corona virus through banknotes is relatively unlikely but there are many doctors who supervise finding corona virus treatment say Banknotes are the fastest way to transmit the epidemic, so digital currencies should be used for payment in order to reduce congestion in centers and reduce the movement of banknotes between hands

My question is will cryptocurrencies benefit to reduce the spread of the Corona virus?

Honestly i think no because its really far from happening but if it happen in future digital payment will make a huge and good profit.

[Ali saher]

I think crypto currency must accept every one in future because now carona virus issue affected on bank note and transfer this virus through bank note some places but this time crypto currency best I this .

[Ajel]

Hello, I think a lot of payments will be paid by the bank for the impact of the corona virus, but I think it will be good, thanks

[YungHefner777]

 сделали онлайн карту распространения коронавируса 
https://we.tl/t-OBA5m4CqfU

 

[sahil777]

its already announced and going to happen soon, u.s and eruope decided to launch euro and dollar based digital currency, and because of this there will be more demand of bitcoin, and bitcoin will go to moon, just wait and watch when digital currencies are going launch properly.

[LUBAID95]

If this will make banks adapt digital payment, then Corona came at the right time, because this will make people to understand the protocol of it... And henceforth people will become used to it

[Wazboy1996]

This is true because body contact is a problem nowadays 

[Wazeery123]

On 4/5/2020 at 10:28 AM, Magdsolieman said:

 

Researchers from the Bank for International Settlements (BIS) believe that the Corona virus may accelerate the adoption of digital payment and end the debate about central bank digital currencies (CBDC).
They released their study in a bulletin yesterday, April 3, and they said that the COVID-19 virus alters the public's relationship to criticism, although the scientific community is unanimous that the transmission of the Corona virus through banknotes is relatively unlikely but there are many doctors who supervise finding corona virus treatment say Banknotes are the fastest way to transmit the epidemic, so digital currencies should be used for payment in order to reduce congestion in centers and reduce the movement of banknotes between hands

My question is will cryptocurrencies benefit to reduce the spread of the Corona virus?

Very good topic I like it

[marcos225]

This would be good for xrp early adoption would be crucial for hitting a milestone of $10 after that the market cap would be in the trillions surpassing bitcoin and making xrp the main crypto coin in the world and then it will be used globally and go to the moooon

[Salsa]

As corona effect spread all over the words so people are now in crisis of monet because they can't go to bank and pick up money so if now crypto currency get adopted with real money or convert the money with currency then surely it's a great step which will increase more popularity of currency again