South Korea quarantines and burn their cash due to Coronavirus

[panganib999]

It was just a right action to be done although it worth a sacrifice of burning banknotes, but at least it will somehow lessen the spread of virus for it is believe that virus can be transferred through passing of paper money from one and another hand. It is just a precautionary measure done to keep the citizens safe. But in reality, based on what I know, burning of banknotes are illegal since it is a national government property but since there is a call and right reason for doing such and the government have ordered such action, then it is worth a try and sacrifice.

Aside from that, we citizens, specially those that are not residing in South Korea where their paper money undergoes sanitation, we must always do sanitize or wash our hands whenever we are receiving paper money to ensure our safety. It is the least we could do now that there are lots of ways that the virus can possibly be transferred.

[Ronaldcoin2017]

Well i see in the news that the virus will also scattered or pass one person to other because we are using physical money specially through coins it is more safe if we dont used money this time because of the virus, south korea is doing a good action to prevent virus to scattered that was their way of preventing or saving lives because if they still used fiat the virus will not gone easily.

[Latviand]

I think that these articles greatly exaggerate the ability of this virus to adapt. I have read in many recent scientific articles that the virus is weak for material circles in the sense that it dies after a short period of contact with surfaces and thus the way the virus is transmitted through contact or paper money is considered small.

But we all know that the paper money circulates faster than it can.

Due to the velocity of money, it can go to different people while it contains a virus.

So even if the virus are weakened in a particular surface, it can still infect other people due to the transferring of paper money from one person to another immediately. Don't be too confident with that statement, if the possibility of getting the virus from the paper money is small, then there is still a possibility. Don't underestimate the virus because they can really spread faster than you think.

[bits4books]

This makes sense, but the measures are still quite strange. Why not to just ban temporary the use of paper money? I am sure that South Korea has a sufficiently advanced banking, and that all people (the vast majority) can pay on the card/through the phone are contactless methods. Am i right?

[michellee]

Well i see in the news that the virus will also scattered or pass one person to other because we are using physical money specially through coins it is more safe if we dont used money this time because of the virus, south korea is doing a good action to prevent virus to scattered that was their way of preventing or saving lives because if they still used fiat the virus will not gone easily.

As long as you can wash your hand after using physical money, that will not be a problem because you can take care of your hand from anything you touch. Using digital money can prevent them from physical contact or touching the other with your hand so you can make sure your hand clean. That is one preventive way to avoid the infection to many people.

[raidarksword]

Adopting Precautionary measures are all welcome just to stop the spread of the virus like on South Korea by burning bank notes then if that's effective to lessen the spread, then so be it that's their decision and suffer consequences in the end if there's any. Every country has their own protocols and mandates on how to end this pandemic and with that it should be respected as long as its effective. Proper hygiene  will always be the best chance not to be contaminated with the virus when going outside and also before getting inside our houses.

[Zackgeno96]

Well i see in the news that the virus will also scattered or pass one person to other because we are using physical money specially through coins it is more safe if we dont used money this time because of the virus, south korea is doing a good action to prevent virus to scattered that was their way of preventing or saving lives because if they still used fiat the virus will not gone easily.

I guess now it is the time to go cashless because then there would be many benefits of it other than preventing the spread of the coronavirus. For example Sweden is almost a cashless country with almost the entire population using either card to pay for their purchases or doing digital transactions with PayPal etc. So if every country would go cashless then I bet the spread of COVID and communicable diseases will drastically reduce. The step that South Korea has taken will benefit their country now and benefit the World in the future. In the past also a news article was there in which it was mentioned that China is washing its banknotes and disinfecting them but burning them is way cheaper.

[Shasha80]

I appreciate what the South Korean government and the Bank of Korea (BOK) have done by making their currency in high heat laundry process,
so that when it is released to the residents of South Korea it will not spread the corona virus. This is an idea that must be carried out by other
countries as well, especially for countries where the spread of the virus is high. And this is also the reason we have to reduce the use of paper
money, which is paper money very susceptible to bacteria. My suggestion is to start using digital currency to make payments, so you can prevent
the spread of the corona virus.

[cabron]

Well i see in the news that the virus will also scattered or pass one person to other because we are using physical money specially through coins it is more safe if we dont used money this time because of the virus, south korea is doing a good action to prevent virus to scattered that was their way of preventing or saving lives because if they still used fiat the virus will not gone easily.

I guess now it is the time to go cashless because then there would be many benefits of it other than preventing the spread of the coronavirus. For example Sweden is almost a cashless country with almost the entire population using either card to pay for their purchases or doing digital transactions with PayPal etc. So if every country would go cashless then I bet the spread of COVID and communicable diseases will drastically reduce. The step that South Korea has taken will benefit their country now and benefit the World in the future. In the past also a news article was there in which it was mentioned that China is washing its banknotes and disinfecting them but burning them is way cheaper.

Cashless is the way to go. Developed countries had already been cashless long before coronavirus started and so it will be the route to go for South Korea. As far as I know, China is already cashless society before coronavirus that is why they weren't also affected in the way how many countries that are not adopting cashless transaction. Only certain number of cities that are still using bank notes in China.

[palle11]

My suggestion is to start using digital currency to make payments, so you can prevent
the spread of the corona virus.

Covid-19 has made the world see one of the many advantages using digital currency but I think the time is not really ready for now in the use of bitcoin because of many issues from volatile to internet use and many country don't have good internet system.

[rodskee]

This makes sense, but the measures are still quite strange. Why not to just ban temporary the use of paper money? I am sure that South Korea has a sufficiently advanced banking, and that all people (the vast majority) can pay on the card/through the phone are contactless methods. Am i right?

I agree to that, and its doable as internet / mobile banking is not that hard anymore. The
government can easily cancel the used of paper money
It will help conserving the printed money instead of being burned it can be used after this
pandemic virus find the right vaccines.
Though we don't know what's behind this decision as ling as they are doing everything to
prevent the spread of this virus and
trying to conserve life to the extent of burning their cash / paper currency.

[whyrqa]

Since the coronavirus bacteria die in the open air within a few hours, there is no point in taking any harsh measures against paper money. they can be taken and isolated for a while. But the procedures that the South Korean Central Bank conducts with its national currency have been carried out before. The central bank overcame the national currency at high temperatures and kept notes for a certain time at a temperature of 42 degrees, thus disinfecting paper money.

[el kaka22]

Sure you can make it all digital, but remember the old people as well, they are not good with technology. It is really quite difficult to live after a certain age, and I am not saying difficult to manage digital payments, it is difficult to "live" after a while, they are just surviving rest of their days, I have a grandparent that is like that right now but she is lucky that my mother is taking care of them.

Hence, it is not really that easy to handle non-cash stuff, when you are saying stuff like "we should all be in crypto by now" you are forgetting that these people are also the same people that fail to withdraw cash from ATM's, so to expect them to use a mobile phone would be insane. It means burning cash is still valid as long as you print new ones on the same amount.

[bits4books]

This makes sense, but the measures are still quite strange. Why not to just ban temporary the use of paper money? I am sure that South Korea has a sufficiently advanced banking, and that all people (the vast majority) can pay on the card/through the phone are contactless methods. Am i right?

I agree to that, and its doable as internet / mobile banking is not that hard anymore. The
government can easily cancel the used of paper money
It will help conserving the printed money instead of being burned it can be used after this
pandemic virus find the right vaccines.
Though we don't know what's behind this decision as ling as they are doing everything to
prevent the spread of this virus and
trying to conserve life to the extent of burning their cash / paper currency.

Yes, you do not even need to take and cancel paper money - this is quite a natural process for me. I don't remember the last time I held coins or bills in my hands - I even pay with a card or transfer to the seller's account at the weekend market or fairs.
You will see after another 15-20 years and the use of paper money in everyday life will cause the same perplexity as an attempt to pay with a watch for a purchase in a supermarket 5-6 years ago! I believe and hope so.

[glowing10]

My suggestion is to start using digital currency to make payments, so you can prevent
the spread of the corona virus.

Covid-19 has made the world see one of the many advantages using digital currency but I think the time is not really ready for now in the use of bitcoin because of many issues from volatile to internet use and many country don't have good internet system.

The problem at this time is that not everyone is equipped to handle the digital currency in all countries as many countries are undecided and made completely legal. But after this pandemic we are clear that digital payment will eb the key in future and for this crypto will be playing a vital role to resolve this issue of paper money. Now how does government take this opportunity and ensure the smooth transition happens it will depend on it.

[verita1]

South Korea is one of the countries that best contained the coronavirus. It is a country that has a great technological development and policies. They implemented rapid, aggressive and efficient prevention measures that are still being carried out to prevent the virus from dominating the country.
The Bank of Korea is giving blockchain technology a top priority and has announced a 10-year plan for its development. CBDC is coming soon.
I think that more countries should follow suit and immigrate to blockchain. It will not be easy for some countries but the attempt must be made.

https://beincrypto.com/south-koreas-central-bank-focuses-on-blockchain-and-cbdcs-in-new-ten-year-plan/

[7788bitcoin]

As for precaution by the local government of South Korea, its central bank Bank of Korea (BOK) had been quarantining its banknote for two weeks and even burned some of it to lessen the possibility of more outbreaks.

Why would they burn the currency if they can kill the virus before circulating, currency is not safe to handle during a pandemic but that does not mean that the central bank should burn the currencies when they can do things much safely to contain the virus. 

 

Paper money is one of the things we are always holding and it is also one of the things that has a lot of bacteria because money is being passed from one person to another. So when we hold money, always make sure to wash and clean your hands before touching your face to keep ourselves protected

I accept every bit of it as it is the most hygienic aspect as it is travelling long distance and who knows which patient is handling those notes before it reached you.

[The cure]

Maybe they think in that way it will reduce the number of infected cases in their country, and I think it helped. Because we all know that money is one of the dirtiest things and can be the carrier of the said or any viruses. They just showed that human life is still more important than anything else.

[shoreno]

Maybe they think in that way it will reduce the number of infected cases in their country, and I think it helped. Because we all know that money is one of the dirtiest things and can be the carrier of the said or any viruses. They just showed that human life is still more important than anything else.

thats sick . are they too bright to think of that idea and they are the only one that think of it because others dont burned down thier fiats but they can be able to control the virus.  is south korea rich enough that they are only burning thier money ?  . its funny and proudful at the same time because they represent the saying that money is not important  . money is dirty because it circulates anywhere but like any other things money can be dis infected too with some of the know methods that i saw online. no need to burn it

[Kong Hey Pakboy]

Maybe they think in that way it will reduce the number of infected cases in their country, and I think it helped. Because we all know that money is one of the dirtiest things and can be the carrier of the said or any viruses. They just showed that human life is still more important than anything else.

thats sick . are they too bright to think of that idea and they are the only one that think of it because others dont burned down thier fiats but they can be able to control the virus.  is south korea rich enough that they are only burning thier money ?  . its funny and proudful at the same time because they represent the saying that money is not important  . money is dirty because it circulates anywhere but like any other things money can be dis infected too with some of the know methods that i saw online. no need to burn it

Indeed. I think it is inappropriate for South Korea to burn their cash or real money to prevent the massive cases of the coronavirus because they are not wealthy enough to do such a thing, and most countries affected by the pandemic are having trouble facing their economic problem. I think it is much better if they sanitize or disinfect their cash, instead of burning it down to ashes.