Coronavirus: is Crypto the Answer in Times Like These?

• The coronavirus is officially declared as a pandemic.

• The world health organisation have declared that the COVID-19 has spread enough around the world to warrant it as a pandemic.

• There are many people who are cautious on the future of bitcoin and other digital assets.

The coronavirus is officially declared as a pandemic. You have most likely heard the news that the World Health Organisation announced that the disease is now officially declared as a pandemic on a global scale. However, when it comes to the industry of cryptocurrency, it is unsure as to how much it will be affected by the news.

The world health organisation have declared that the COVID-19 has spread enough around the world to warrant it as a pandemic.

The director-general of WHO, Dr. Tedros Adhanom Ghebreyesus said the following at a press event with CNBC, “in the past two weeks the number of cases outside China has increased thirteenfold and the number of affected countries has tripled.” 

He further went on to say:

“In the days and weeks ahead, we expect to see the number of cases, the number of deaths and the number of affected countries to climb even higher.”

There are many people who are cautious on the future of bitcoin and other digital assets. Due to the outbreak of coronavirus, many people believe that cryptocurrency is the answer as it could help prevent the spreading of the virus.

Of course, cryptocurrencies was made famous for the digital method of transferring value to other people from your crypto portfolios. Of course, when it comes to paper money, even though the process may seem simpler when it comes to things like COVID-19 and pandemics alike, the concern has been raised that spending your dollars and pounds in different stores across the world (even in your hometown), could be spreading the disease even further.

On top of this, many new projects within the industry function on a remote level. There are many companies all around the world in the tech industry as well as the cryptocurrency industry that operate remotely with people working from home – when it comes to a pandemic this would make them isolated from others.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!