Pandemic Coronvirus Impact On Global economy

[Vishnu.Reang]

IMO, the impact on the economy varies from one sector to the other. For example, some of the sectors such as Airlines and Hotels are near collapse as a result of the lack of business. On the other hand, there are some other sectors, such as eCommerce which have seen an increase in the revenues. And at this point, it is too early to talk about the long term impact on the economy.

[Heart18]

There's a huge negative impact in many forms all over the world especially the economy. I guess, everyone knows that since we are all experiencing numerous losses in different kinds.
Decentralized economy or Cryptoworld industry is really useful now for some traders and investors...also for those who losses their jobs and started learning to work here, it would be fine this time. But, it can only help us with few things in the row because not all countries accepts cryptocurrency legally.

[coolcoinz]

I accept as true with you we'll soon be saved from this epidemic within the meantime many countries have gone into recovery and therefore the remainder of the country is on lockdown to guard themselves. However  the impact of the pandemic coronavirus on the worldwide economy won't be easy to beat.

Most people are already safe. With 1% death cases there's really nothing to be scared of. You should rather worry about possible mutations that will surface in a couple years.
The problem with these respiratory viruses is that they will keep coming and may one day be the cause of our extinction. Not yet though.

[abhiseshakana]

Most people are already safe. With 1% death cases there's really nothing to be scared of. You should rather worry about possible mutations that will surface in a couple years.
The problem with these respiratory viruses is that they will keep coming and may one day be the cause of our extinction. Not yet though.

Numbers will only be numbers if read without analysis. Data without analysis does not become information, information is strategized to become knowledge, what is needed by many countries is knowledge, not raw data or information that is half-measures. In fact, a pandemic with a mortality rate of only 1% is enough to make waves in the world economy, ranging from superpowers to poor countries. Coronavirus may not need to be feared, because the death rate is not as high as Ebola, but the fact is the damaging effect on a large scale and broad and multi-dimensional. The Corona pandemic created a momentum of opportunity and created panic.

[Rono]

On going this corona fact lots of losses occurs the globally.This is really a pathetic situation lots of people are lost in their Job.Many people are  in critical situation.Economy falls down we see Dollar price are falling and many more currency are low.Economy crashed out badly in this case Cryptocurrency can be better option to choose already Canada accept bitcoin.It will open their economy growth rate and repair their economy status.

[shoreno]

On going this corona fact lots of losses occurs the globally.This is really a pathetic situation lots of people are lost in their Job.Many people are  in critical situation.Economy falls down we see Dollar price are falling and many more currency are low.Economy crashed out badly in this case Cryptocurrency can be better option to choose already Canada accept bitcoin.It will open their economy growth rate and repair their economy status.

crypto can be a better option to use as a currency now but i dont think crypto can recover the economy  . so what if canada already accept bitcoin , is bitcoin banned on this country before ?  many countries already accept crypto but still no improvement on the economy right after covid starts  .

  its useless if they allow crypto because people cant still use it when they dont have a money due to the effect of ncovid where people losses thier jobs  .

[sarmrakib]

The world are facing a serious virus it has many days passed we could not recover the  situation .Now we are watching the decentralized way of of doing everything here in crypto is being opened highly .we are more depend on the system and it has proved that we need the system in our ordinary life as well .Hope for the best time to prove more .

[yohananaomi]

The world are facing a serious virus it has many days passed we could not recover the  situation .Now we are watching the decentralized way of of doing everything here in crypto is being opened highly .we are more depend on the system and it has proved that we need the system in our ordinary life as well .Hope for the best time to prove more .

Obviously the existing system in Crypto is very good and is indeed needed at a time like the current pandemic. agree with you that now everyone really needs and must depend on the existing system, because after all the system requirements that currently exist in crypto are very reliable and necessary and very necessary.

although ultimately the system inspired many electronic money growth as a substitute for manual payment methods. at the time of a pandemic such as this it is indeed needed a lack of interaction related to direct contact. hopefully this will still be able to move the world economy can still run well, without relying on manual payments again.

[iyamoxjhian]

since pandemic is still spreading out..it would be hard for companies to operate since it is very risky for the safety of it's people and the management of the company.. so for those people who knows how bitcoin works and how to do it may  continue to do it so we xan rely something for source of income.. this would also helps the community to fight covid because while were working with bitcoin at home..were giving our frontliners enough time and space to survive and win the chaos.

[NelfiNovita]

the impact of the covid-19 pandemic, namely the occurrence of a stop in the production process of an item to be exported and an increase in the price of goods and services. In the real world, we see many problems that occur because of Covin-19, but different from the virtual world in bitcoin, the market price of cryptocurrencies has increased. bitcoin and some altcoins that experienced price increases during the covid-19 pandemic, I see more investors buying bitcoin and altcoins to hold until the price reaches its highest peak.

[carter34]

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

I say it could be an opening and my reason is because the way to avoid covid-19 is to avoid touching of affected substance and money which is a physical substance is likely to be a transmitting way. This makes buying and selling affected because money is used for payment.

[Alert31]

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.

Covid 19 pandemic has a huge impact to the economy of every country but i think it is still not the the time that the government will accept decentralized economy. As long as the government has a solution for the problem they will not allow decentralize because they have no control over it. And government  will find a way to recover from this pandemic.

[wiss19]

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.

Do you really think that is true? The way I see things, there isn’t really that decentralization that you’re talking about, because there are other payment methods out there that lots of people are using. I’m only able to make use of my Bitcoin on the Internet and it’s mainly on transaction between me and some Business partners, but when it comes to making purchase of things I need, the payment that I can only make use of, which is what’s widely accepted, is card payment.

Another option that I see everywhere is PayPal. And when it comes to making payment when I’m in stores, they only accept my card, because POS is their payment method. I wish I can use Bitcoin or another online payment, because I don’t really like them touching my card lol.

[ampu]

A pandemic happened and all activities became more difficult. They avoid direct contact and stay at home communicating over the internet. It is an opportunity for electronic money and internet services to flourish. Decentralized communication saves us time and convenience. They can order food, transfer money online, they read newspapers, communicate, study online. I think the pandemic is a time to help people better understand the value of the internet.

[Chrystora123]

Based on the June 2020 edition of the OECD Economic Outlook report, there are two economic scenarios due to global uncertainty this year.

For the first scenario, the global economy will reach minus 7.6 percent due to the second wave of the corona virus outbreak which hit the global economy towards the end of this year. The global unemployment rate rose dramatically to 10 percent and global trade growth contracted by 11.4 percent.

For the second scenario, the global economy is minus 6 percent because the second wave of COVID-19 can be avoided by many countries. The unemployment rate rose to 9.2 percent and global trade minus 9.5 percent.

Until the end of this year, the world economy is predicted to continue to weaken, and the unemployment rate cannot be suppressed anymore..

Covid 19 pandemic has a huge impact to the economy of every country but i think it is still not the the time that the government will accept decentralized economy. As long as the government has a solution for the problem they will not allow decentralize because they have no control over it. And government  will find a way to recover from this pandemic.

we have to accept the fact that almost all countries in the world are led by old people who do not understand the benefits of decentralization.  governments can be moderators in a decentralized economy, their job is only to supervise..

[Shasha80]

COVID-19 has a negative effect on the global economy, a new breakthrough in the economic sector is needed to help the current crisis.
One of them is by adopting economic decentralization, because it is proven that Bitcoin has helped the world economy today. Even though
it is still on a small scale, the government should be more realistic thinking that legalizing Bitcoin is a positive step must be taken now.

[Mauser]

The last few big crisis we saw over the past 20 years where are financial crisis (tech stock crisis, bank crisis, European sovereign crisis) they all were involving the financial sector. Which made crypto currencies so attractive as they are decentralised and an alternative to the big banks. The corona pandemic is very different unfortunately as it affects everybody immediately and is kit abstract as in the past. We all see the immediate effects of wearing masks, closed public places and social distancing. I don't think that decentralisation is the answer to the current crisis. If people are left alone with corona they don't follow any rules anymore. Without the government and strict rules on travelling and having big meetings like sport events, the virus would have spread so much faster.

[mersal]

COVID-19 has a negative effect on the global economy, a new breakthrough in the economic sector is needed to help the current crisis.
One of them is by adopting economic decentralization, because it is proven that Bitcoin has helped the world economy today. Even though
it is still on a small scale, the government should be more realistic thinking that legalizing Bitcoin is a positive step must be taken now.

The whole crypto market didn't played any role in the development of the world economy because the total marketcap is very less compared to the other traditional assets like stocks.gold and forex but it helped the traditional investors to realize the importance of decentralized asset/currency because those traditional assets are highly manipulated and profit making opportunities are also getting lesser there.

[Kong Hey Pakboy]

COVID-19 has a negative effect on the global economy, a new breakthrough in the economic sector is needed to help the current crisis.
One of them is by adopting economic decentralization, because it is proven that Bitcoin has helped the world economy today. Even though
it is still on a small scale, the government should be more realistic thinking that legalizing Bitcoin is a positive step must be taken now.

The pandemic of the COVID-19 makes everyone suffers in recovering the country's economy because a lot of people temporarily lost their source of income due to community quarantine lockdown. I think bitcoin have helped some countries who adopts bitcoin as a safe haven that it solve their financial system from crashing during the Coronavirus crisis.

[Majharul Saiif]

Definitely, the collision of this pandemic will slam the global economy. Equitable to the lockdown, everything in the country was impenetrable for a lanky duration. Its trauma is unquestionably on the economy. I think it will seize a long period to withstand this confrontation.