Pandemic Coronvirus Impact On Global economy

[gokumarket]

The world is surrounded by the COVID-19 and so the demand for the decentralized economy is increasing as a way of maintaining social distance. Does Pandemic Coronavirus open the door for the decentralized economy? Please justify your answer.

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[odolvlobo]

That's not what "decentralized" means. Decentralized means that nobody controls it. Communism is based on a centralized economy. Capitalism is decentralized.

[Darker45]

The world is surrounded by the COVID-19 and so the demand for the decentralized economy is increasing as a way of maintaining social distance.

[1] The following is definitely illogical. It simply does not follow.

Premise: "The world is surrounded by COVID-19."
Conclusion: There is an increasing "demand for decentralized economy."

[2] How does a decentralized economy in any way promote or used "as a way of maintaining social distance?"

Does Pandemic Coronavirus open the door for the decentralized economy? Please justify your answer.

I don't think so. The pandemic is pulling the economy down and the central powers, may it be governments or international communities of countries, are the ones that actually serve as safety nets by way of stimulus, loans, grants, quantitative easing, and so on.

[abhiseshakana]

The world is surrounded by the COVID-19 and so the demand for the decentralized economy is increasing as a way of maintaining social distance. Does Pandemic Coronavirus open the door for the decentralized economy? Please justify your answer.

If you look at the impact of corona on the global economic geo, then I don't see any change at all towards a decentralized global economy.

Globalization vs. state sovereignty will still be won by a sovereign government. It was agreed upon and the fact that the pandemic brought about an economic slowdown in each of the countries that finally like the pinball effect influenced each other.

Control and mitigation measures taken against the virus have caused the market to also fluctuate if the problem spreads from the real sector to the market. So corona has destroyed all business sectors. In addition, the uncertainty of when the pandemic will end makes entrepreneurs can only wait and see. Unlike natural disasters that damage infrastructure, a pandemic destroys the structure of the world economy.

Each country is still struggling to overcome the spread of corona, on the basis of humanity, all economic sector sacrifices will be made by each country to secure the population of its citizens. Global supply chains are also disrupted so that sovereignty in completing corona and after pandemic effects is the best choice.

[fiulpro]

Well , you know the more this pandemic is spreading the more people are looking for alternatives and therefore Bitcoins and other cryptocurrencies are a good thing with which they can start and do many things that are useful for the day to day needs .
Quite contrary to the fact that the government should be elated about it , that how they are supporting people , they are naturally acting all angry with the cryptocurrencies when they should focus on the people.
When the banks won't work people have to look for more alternatives and people already understands that it is also an amazing job opportunity for them .
Therefore I do think there is high percentage of people now engaging in cryptocurrencies and other decentralized exchanges.

[Xampeuu]

The world is surrounded by the COVID-19 and so the demand for the decentralized economy is increasing as a way of maintaining social distance. Does Pandemic Coronavirus open the door for the decentralized economy? Please justify your answer.

but I haven't seen it at this time, and we know that the world of crypto is also affected, where the market seems to be less excited, and is currently down. but I think if this disaster is resolved, the economy will improve and have a good impact on crypto. although for the time being, actually transactions without cash are better to prevent transmission of the virus

[Findingnemo]

People have no choice other than trusting their government at this situation so this is not the real decentralization but economically it can be a way for people to realize about upcoming pandemic situation and move on the decentralized economy.

[snipie]

The only thing that coronavirus may impact is how governments should control closely and improve its medical equipments and infrastructure.
Seeing countries failing each other and govs steeling bought or pre-ordered medical equipments from each other is disgusting, the latest USA from France...
Countries will put their hands on the medical field, other than that nothing will change

[plvbob0070]

I don't see any relation between the virus and the demand for a decentralized economy. This virus is not literally opening for a decentralized economy rather, it gives more room for digital advancement. A decentralized economy does not guarantee that it will maintain social distancing, and it is different from digital adaption. This COVID-19 issue is giving way for digital and online transactions to be done to avoid physical and close contact with another person. The digital transaction is one of the best options in this kind of crisis. From buying and selling, bill payments, and even donation.

It's not like the decentralized economy will help to resolve the problem. In fact, we need people who will lead us in this problem we are facing. We can't solve it if we have our own movement.

[$crypto$]

Global economic demand remains controlled by the government but at a time when this situation seems to be difficult to increase because almost all governments are focused on handling Covid-19 which is still to be resolved and therefore we don't know when this economy will be stable. the government is still confused now to look for Covid-19 prevention solutions.

But only at this time the cryptocurrency market is recovering a bit whether this is an effective way to use it when people are not allowed to come into direct contact with each other.

[ReiMomo]

This pandemic COVID-19 has had a significant impact on the global economy, it was shaken all over the world and we are all experienced an economic crisis. The world stock price has been decreased and the cryptocurrency market is not exempted. If you mean that the solution is to use crypto because it is decentralized nature I think you are wrong. If you have seen it is also affected and the price was down.

As of now, Crypto is no use since all kinds of businesses have been closed due to lockdown implemented by the government. But maybe in the future because we experienced this now.

[el kaka22]

I doubt that decentralized economy could ever be a thing while the politicians and the capitalists works together to make a world that runs for them and not from them. Think about it, media is controlled by people who are super rich, financial world is controlled by people who are super rich, oil companies are controlled by people who are super rich.

What happens is they get together, they pay the politicians hefty bribes, the financial company pays the oil company money to do what they do and media company airs it live as something awesome and deems everyone who criticizes it as devil and what happens? They all make more and more profits. Now this was just one example, the world basically runs like that and as long as we keep voting for those bad politicians there will never be a decentralized economy.

[Sanugarid]

Hard to tell. Too many people without work, too many stopped businesses.

Businesses are shut off, well as for my calculations 70% of businesses are closed and those who are necessary to work are only ones allow to move right now. Who needs phone cases in times like this?

In other words, people will now be as careful as possible about the means for their own existence, rather than focus on blockchain and decentralization.
After all, as you know, most are interested in this for profit.

People now, well most of us are getting losing money day by day as we all know jobs are postponed, unnecessary ones, and so market movement is expected to be not that blowing. People now are at the edge of life and death, you can't teach them how to get or know the bitcoin with panics on their head, aside who money does not counts when you're dead.

[palle11]

Please justify your answer.

This looks like an examination question to graduate from a medical school... Lol

Anyway, the impact of covid-19 has really been negative to the global economic as prices and stocks have crashed.

[Hydrogen]

Does Pandemic Coronavirus open the door for the decentralized economy? Please justify your answer.

It may happening as you read the text on this screen.  

• Food production Individuals and communities are growing their own vegetable gardens. Those who have never tried growing fruits or vegetables are now incentivized to learn. Local farmer's markets are gaining proiminence. The food sector may further decentralize by the day.
• Education Students are spending more time home with families. Education is being decentralized from centralized monolithic public schooling systems back towards the family unit.
• Manufacturing A large proportion of global supply chains being centralized in china is how global economies initially declined on parts and raw materials produced in china slowing. We could witness a decentralization of supply chains shifted outside china's borders. In reaction to negatives associated with a massive percentage of manufacturing supply being centralized within the borders of a single nation
• Jobs Khan Academy reports their internet traffic increased by 250% as a result of quarantines. We may see a movement towards skilled labor and more independent freelance contractors, with massive layoffs and job loss occurring. This perhaps carries the potential to increase innovation, further decentralizing markets and economies away from consolidation and monopoly formats.

The longer quarantine continues, the more faith people could lose in governments and the private sector to address the problems society faces.

A natural decentralization could occur in response. The beginning stages of which we could be witnessing. Its too early to say for certain.

[20kevin20]

~

Sounds great and all, but I wouldn't be too hyped for it. It sounds like a wet dream of mine where decentralization is the new trend, but I'm very afraid this is only a short term phase and what's coming next is worse than what we've had before the virus. As soon as everything (as in our rights at least) comes back to normal when the pandemic ends, it's gonna be okay.

But the longer the lockdowns and states of emergency will last, the more our authorities will get used to having much more power and control over us. Remember, it takes 21 days to break a habit and form a new one. This is gonna have long-lasting consequences in some areas of the world. Once they get used to the new kind of control & power over us, it's gonna be hella hard to let it go again.

I may be wrong and I hope I am. If everything goes back to normal and we're going to head towards a strong deglobalization wave, it's gonna be awesome... up to one point. Remember, the last time a deglobalization wave was pushed was years before WWI.

[ethereumhunter]

The world is surrounded by the COVID-19 and so the demand for the decentralized economy is increasing as a way of maintaining social distance. Does Pandemic Coronavirus open the door for the decentralized economy? Please justify your answer.

I don't think so. We still need a centralized economy, and I am sure that every big country wants to be the leader in the economy among the other country. The decentralized economy applies in these situations because people want to prevent the virus that can spread to them so they must do that if they don't want to get infected. After the pandemic ends, I think everything will be back normal, people can do anything in out there, and there is no decentralized economy. But I am not sure about that because that is what I think now.

[Hydrogen]

....

This is all that comes to mind in regard to totalitarian threats.



There may be an achilles heel present. In terms of how the US democrat party. Leftists in china, north korea, cuba, the middle east and venezuela structure and organize things. (Summarized in the last sentence if its too long to read...)

A growing divide between centralization and decentralization does seem to be spreading across the globe. In more popular terms its been described as populism versus collectivism. Nationalism vs globalism. I haven't seen updates reported on catalan independence in a long time. Even though the media isn't mentioning it, there are similar independence movements in nearly every nation.

It could represent a direct throwback to class warfare of the past. Where the upper 1% have attained a high enough proportion of global wealth, as to make living extraordinarily difficult for all other social classes.

Certainly governments wield considerable power and influence. But the majority of them are teetering very close to bankruptcy, which could greatly diminish their power. Corona virus could exact a heavier toll on governments and their tax revenues. Than it does those they are supposed to represent.

[Febo]

Pandemic Coronvirus Impact On Global economy
The world is surrounded by the COVID-19 and so the demand for the decentralised economy is increasing as a way of maintaining social distance. Does Pandemic Coronavirus open the door for the decentralised economy?

Cash is what is what virus makes bad. But no crypto is ready to replace cash yet. Cant make enough transactions, dont have economy built or people dont trust it to use it.  Probably there are even more reasons I dont remember now. But. People will keep this in mind. Covid-19 will in our subconscious. And people will then much easier accept idea of Bitcoin or some other coin to replace cash.

[Reid]

I don't know where is this going.
Perhaps he misplaced some words and cannot find it back.

Decentralized economy?
https://en.wikipedia.org/wiki/Decentralized_planning_(economics)
This is all I found out.

But, I cannot seem to connect it with what is happening.
We should wait for his answer. Maybe he could enlighten up with some more.

Trying to connect it using google and here is what I found.

In democratic regimes with decentralised economies, disruptive events of the magnitude of the COVID-19 pandemic – which is impacting all members of society at the same time – must be met with a response that safeguards both material wellbeing and democracy. The actions of a monitoring cabinet could contribute to a sense of confidence and control of the crisis among the population, helping to avoid panics and social unrest. The great perils we face call for an EU-level monitoring and coordination cabinet interacting with national counterparts.

In modern decentralised economies within a worldwide context, each good or service is, in most cases, produced by firms (which may be located in different countries) responding to prices. Suppliers of one good assess the state of the market for that good and decide how much to produce. They also determine the combination of capital, labour, and intermediate goods to use in production. Figure 1 describes the flow of goods and labour (Part A) and information (Part B) across the production and distribution chains.

https://voxeu.org/article/covid-19-crisis-calls-pre-emptive-monitoring-production-and-distribution-chains