We can't really predict how long this pandemic will last..but, still I believe that amidst of this terrible crisis,we can still rise up and the economic growth,depending on the government's strong regulations in each country.

Fiat money is a currency established as money, often by government regulation, but that has no intrinsic value. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value.[1] It was introduced as an alternative to commodity money and representative money. Representative money is similar to fiat money, but it represents a claim on a commodity (which can be redeemed to a greater or lesser extent).[2][3][a]

Government issued banknotes were first used in 11th century China. Since then, they have been used by various countries, usually concurrently with commodity currencies. Fiat money started to predominate in the 20th century. Since the decoupling of the US dollar from gold by Richard Nixon in 1971, a system of national fiat currencies has been used globally.

Fiat money can be:

-any money declared by a government to be legal tender.
-state-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard.
-intrinsically valueless money used as money because of government decree.
-an intrinsically useless object that serves as a medium of exchange (also known as fiduciary money.)
-the term fiat derives from the Latin fiat ("let it be done").

If it could support the growing industry and will lift up the economy in the world, I should agree then ☺

Bitcoin is already a currency..a digital currency.
If you're getting started with Bitcoin, there are a few things you should know. Bitcoin lets you exchange money and transact in a different way than you normally do. As such, you should take time to inform yourself before using Bitcoin for any serious transaction. Bitcoin should be treated with the same care as your regular wallet, or even more in some cases!

It is still up to investors themselves to formally identify their heirs in their wills..
That said, having a will does not automatically mean that one’s bitcoin wealth will get passed down to loved ones. Private keys are still needed to unlock crypto wallets, which is why individuals need to leave clear instructions on how their heirs can access their fortunes.

Inheritable digital safe services such as Digipulse help people to keep their bitcoin information safe, while allowing it to be utilized for legacy purposes. Simpler methods might include entrusting third parties with copies of private keys, either on paper or in digital format, but such options necessitate a level of trust.

Once the pandemic ends, countries around the world will probably find themselves more in debt than ever. If they restructure and innovate, attract investment, and increase their productivity, a new era of human development will begin. But if they spend haphazardly and imprudently, economic and social development might falter for decades to come. The societies, governments, institutions, companies, and people of the Earth now face basic choices. Let’s hope they think about them seriously.

In the “Imagine 2030” report, Deutsche Bank strategist Jim Reid raised awareness of the challenges the existing fiat system has encountered in recent years, specifically with the emergence of cryptocurrencies. Reid stipulated that people’s heightened demand for dematerialized means of payment and anonymity could drive more individuals to digital currencies.
Its possible that cryptocurrency will replace cash nearly in the year 2030.

There is no hard and fast rule about what will happen to the value of a currency during a deep recession – though, a currency is likely to fall because country becomes a less attractive place to invest.

While blockchain has yet to make its way into mainstream games, it seems that this won’t be the case for too long. We suspect that as time goes on, more and more games will start implementing cryptocurrencies into their games or using blockchain technology to improve their games’ mechanics as a whole. This is really possible 😊

Bitcoin may or may not be a widely used form of money in the future, but its advantages as a store of value and safe haven against fast-depreciating currencies are undeniable. Much like gold before it, economic volatility and inflation drive the demand for Bitcoin.

Its absolutely the covid-19 epidemic that caused each country's economy down..aside from the health problem that we are facing, job loss, business and many establishments had been closed for a quite long period of time during lockdown days, that is why our economy has dropped off.

Let's start with some quick definitions. Blockchain is the technology that enables the existence of cryptocurrency (among other things). Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology was invented. A cryptocurrency is a medium of exchange, such as the US dollar, but is digital and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds.

Thank you so much for all your different opinion and informative answers, will definitely use it to add my learning in my journey here as a newbie..deeply appreciated 😊😇

Hope this will help: The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software.

Here comes the Financial crisis, with global health problems and thousands of job loss, absolutely we are facing financial crisis as the economy of each country is struggling because of this Pandemic.

So sad to think that going back to normal is so impossible for us...we just need to cope up, follow the expert's advice and just go with the flow in order for us to survive in this kind of "New Normal" life because of the Pandemic.

Hopefully it won't take that long...but sadly,until there is no vaccine created, we will have to suffer for our freedom to go out, that is why bitcoin is really advisable and most reliable for us in this quarantine days 😊

Well, I must believe so...Like in real life, your wallet must be secured. Bitcoin makes it possible to transfer value anywhere in a very easy way and it allows you to be in control of your money. Such great features also come with great security concerns. At the same time, Bitcoin can provide very high levels of security if used correctly.

This is the perfect time I guess to use bitcoin to shop online since we can't freely go outside and shop because of the covid-19..
Use bitcoin to purchase gift cards from services like eGifter, or Gyft and then redeem them at Amazon, BestBuy, and hundreds of other popular retailers. Companies like Microsoft, have recently started offering games and other apps for bitcoin.

Thank you for sharing,perhaps I should check this out myself so I will be able to share it to others too, once I found it Legit 😊