I watched a Youtube video last night about the food merchants in some of the markets in Wuhan and I noticed that most of them are using electronic payment methods to pay for goods. < Wechat Pay >
Ok, it is not Bitcoin, but if more merchants using Fiat currency can switch over to Bitcoin, you might see less infections. The reason for this is simple, because the Corona virus can be transmitted from person to person via cash being used on a daily basis.
People can also do online payments with Bitcoin to avoid handling physical cash and thus avoiding infection. It can also prevent people from being infected from a host of other viruses and bacteria that can survive for days on physical coins and notes.
This is just one more reason for people to move away from physical payment methods and shifting to a cash-less financial system in the future.
Ok, it is not Bitcoin, but if more merchants using Fiat currency can switch over to Bitcoin, you might see less infections. The reason for this is simple, because the Corona virus can be transmitted from person to person via cash being used on a daily basis.
People can also do online payments with Bitcoin to avoid handling physical cash and thus avoiding infection. It can also prevent people from being infected from a host of other viruses and bacteria that can survive for days on physical coins and notes.
This is just one more reason for people to move away from physical payment methods and shifting to a cash-less financial system in the future.
Tangible money is really one of the reason for the spread of different viruses. Since it is handed down from person to person, it can be the cause of a disease specifically COVID-19 which has that mode of transfer. Aside from that, moving from place to place and buying goods and availing services can expose us to germs and viruses. So, to counter it, electronic payment existed. It is cheaper, less hassle, and more convenient. With the situation in China, this method is very effective because the caution instilled on people could drive them to dive into this method. Tangible money is put aside and e-payments come in. People can soon realize that there is also a cryptocurrency which can also be used as a method for transaction even in the food industry and others. The disadvantage here is that, if the virus is gone and of course, tangible money cannot be totally neglected, there would be less attention on electronic payments and moreover on Bitcoin. I say, the bank cannot let this situation go because they would be very much affected. So only time and the application of Bitcoin will tell how the world can adapt to crisis such as COVID-19 with cryptocurrency.