we know if a country experiences a natural disaster, the economy will be temporarily paralyzed. because of the many damaged road access and also damaged buildings which caused the economic collapse and of course that made the country's economy go down. my question is, does it have a big effect on crypto state? we know that there is no need for a way to go, and a wide place for incapacity. but when a disaster occurs, it is likely that the signal will be lost and difficult to access. and if the recovery process takes place long after the disaster, how is the condition of Kripro that might occur?
I will be very happy with your opinion
If ever a disaster such as earthquake would happen, it would have a very minimal impact to the cryptocurrency world. It would however have a great effect to the economic state of a country where the earthquake occurred.
During an earthquake, many unfortunate events such as infrastructures collapsing, triggering a tsunami, fire, and explosions might occur. The severity of the damages depend on the magnitude and the intensity of the earthquake. The more a place is closer to the epicenter and focus, the more damages possibly would happen. If ever an earthquake has high intensity, probably lines would be cut and it would affect the signal and connectivity of the specific area. These would result to people having no choice, but to use traditional way of payment system - cash. Digital banks transactions would be limited in that area affected as well as the transactions in cryptocurrency.
It wouldn’t totally harm the cryptocurrency community as natural calamities and disasters don’t happen simultaneously in every part of the world. Only the particular area which was hit by a disaster is going to be paralyzed and it would do only a very minimal effect. In addition, fast response and action is done during calamities. Meaning, connectivity is restored and damages are addressed as soon as possible by the local government units to avoid unnecessary accidents and decline in economic growth. Signal loss wouldn’t be much of a problem especially if the area isn’t damaged that much and is accessible for the workers who will repair the communication and electricity lines.