With the ever-increasing need for social distancing, people are recurring to online payments and e-commerce sites. The longer it takes to find a cure for the disease, the faster our world will change economically. During the pandemic, people will be using credit/debit cards more than physical cash itself. It's no wonder since physical cash is known to carry germs and bacteria with them.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
Every place in every part of the world does not have the same economic status. I think to a more developed or advanced areas, online can be tolerated or I think online is already its normal way of economy. Due to that, more people around it or within it will also be normalizing online and cashless payments either in transportation or buying foods and services. But to areas like provinces, I think the new normal set-up will be like social distancing, wearing of face masks and sanitizing because online world is far from it.