Pandemic Coronvirus Impact On Global economy

[AicecreaME]

During this trying times, majority of companies, businesses, and banks were facing difficulties because of financial crisis. Most of the following were closing and in the verge of filing bankruptcy due to unpaid loans and generating little to no income over the past months.

This pandemic damaged and still damaging the economic growth especially those of third world and emerging countries. Most countries are even expected to have an economic recession this year. This pandemic negatively affect the flow economy, however, some sectors and industries bloomed along the way such as e-commerce and food retail.

When it comes to the effect of pandemic to the decentralize organization, i think it paves a way for new platform for people to invest and save their hard-earned money. This pandemic also made digital and online transactions more popular because of its convenience.

[Zackgeno96]

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.

There was only a short term slowdown of the economy and stock markets of every country back in March but that too was shortly lived and there was a huge rebound that took back the stock markets on track. Most of the countries have suffered a lot from the lockdowns but the same can't be said about China which is said to be corona free right now or having COVID under control. I guess we won't be able to see the effect of Covid in the short term, but in long term trend there will definitely be a market crash fueled by Covid.

[Salauddin1994]

The long-term effects of the corona virus have taken the world by storm. The market is collapsing day by day as the stock market is not being invested properly to show the financial crisis. The effects of the epidemic coronavirus on the global economy are taking a terrible turn but it will take a long time to recover. In many countries even after the lockdown the outbreak of the virus has not decreased in which case they are living in a lot of crisis.

[pragna]

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.

Actually this pandemic situation is good for some people who are keep well with family members and bad also for some people who lost their family members. But overall this pandemic situation teaches how to earn from home investment like cryptocurrency investment. People from now must think alternative safe income in different way by online as we have gotten useful with it. I think after COVID that would be new Era for all and alternative best economic system coming for all also.

thanks.

[AbuBhakar]

The long-term effects of the corona virus have taken the world by storm. The market is collapsing day by day as the stock market is not being invested properly to show the financial crisis. The effects of the epidemic coronavirus on the global economy are taking a terrible turn but it will take a long time to recover. In many countries even after the lockdown the outbreak of the virus has not decreased in which case they are living in a lot of crisis.

Those in a 3rd world classes is struggling to survive due to these, it kills life, employment, economy and dreams of individuals. But we should find a way to survive these crisis. Like how many now knew crypto to do investment or make trading as a job. There is always a way to avoid virus and to find resources to live. What important is that we're trying to survive. Economy will be able to survive after these no matter how low it falls.

[ttcsalam]

Of course I think in this pandemic situation People prefer transactions sitting at home.As such, they are increasingly leaning towards the world of cars.Due to their situation, the number of online transactions is increasing day by day.In the COVID-19 period, everyone is leaning more and more towards this decentralized network day after day.

[jademaxsuy]

Of course I think in this pandemic situation People prefer transactions sitting at home.As such, they are increasingly leaning towards the world of cars.Due to their situation, the number of online transactions is increasing day by day.In the COVID-19 period, everyone is leaning more and more towards this decentralized network day after day.

not really a decentralized system but banking systems actually. There are existing e wallets that has been used by some people to do an online transactions. Then here came the pandemic where most of the transaction became online to which more people are learning doing it. E wallets, online payments or cashless system is more common which is centralized. Bitcoin and or cryptocurrency has been used too but it was not advise here in our place and only few were also knowledgeable about cryptocurrency. There are people using cryptocurrency but only as investments.

[finaleshot2016]

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.

Actually this pandemic situation is good for some people who are keep well with family members and bad also for some people who lost their family members. But overall this pandemic situation teaches how to earn from home investment like cryptocurrency investment. People from now must think alternative safe income in different way by online as we have gotten useful with it. I think after COVID that would be new Era for all and alternative best economic system coming for all also.

thanks.

I don't think so, even the family has wealth and they are having time for each other, it's still not safe because there's a huge chance of having a COVID-19 through foods and deliveries. Yes, they're thankful for spending time with their family but still afraid of getting in contact with COVID-19.

I agree that some of us already invested in cryptocurrency and some bought stocks because there's a downfall of prices and it is a stepping stone for better economic growth. Some are adopting the use of the internet, we all know that there's a lot of opportunities here to earn more income while in the house.

[AjithBtc]

Myself opted for coronavirus pandemic opening door for decentralized economy, but this isn't happening with the economy prevailing in the world. In my view more and more centralized service providers have started the digital transaction support, but those weren't truly decentralized. Pandemic coronavirus has slowed down the economic growth, and more people have come to know about bitcoin and other cryptocurrencies.

[Vishnu.Reang]

Myself opted for coronavirus pandemic opening door for decentralized economy, but this isn't happening with the economy prevailing in the world. In my view more and more centralized service providers have started the digital transaction support, but those weren't truly decentralized. Pandemic coronavirus has slowed down the economic growth, and more people have come to know about bitcoin and other cryptocurrencies.

I am not seeing any benefit at all for the cryptocurrencies, as a result of this pandemic. Ever since the first quarter of 2018, the acceptability of cryptocurrency among mainstream merchants have gone down. Ventures such as Steam which earlier accepted Bitcoin payments are no longer doing so (as a result of sky-high fees). The pandemic has made no difference to this situation.

[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.

Having a 'decentralized' economy means having no one to control it. We might see the flexibility and volatility of Bitcoin having these characteristics but the economy won't function in that way. It can sprout rivalry and a messed up organization. The COVID-19 even spanned out doubt and fear, so naturally and practically, people will clung out to the government. Asking for food, goods, and necessities. Online transactions might be a safe way yes, but people need reality and they have it with the government.

A decentralized economy really does not have any advantages over the ordinary, especially against the background of various situations that have a very strong impact on the lifestyle of an overwhelming number of people, so the search for salvation in a decentralized economy is in vain.

I have always wished that businesses will be decentralized and no matter where you are around the world you will be able to get a job and an equal pay like other people.

I don’t know whether what I have described is decentralization, but it’s probably a good idea. Some of the contracts I have worked on in the past months were from companies that are located in other countries and these countries were able to pay more than the ones that are in my locality/country, and the payment I got was done through Bitcoin for most of them, and PayPal, Payoneer.

[Sundilhan]

I think the answer to this question is a strong YES! Decentralized economy has certainly found more appreciation and recognition during this pandemic with several people looking towards blockchain solutions to help shore up their businesses. Blockchain based solutions like NowPayments have come up with tremendous solutions which have found appeal towards helping businesses operate successfully from anywhere in the world without the need to leave your home during this pandemic. Nowpayments solutions is helping businesses accept cryptocurrency payments effortlessly and conveniently. With Nowpayments, you only need to plug in simple APIs and have your platform accepting cryptocurrency payments in minutes. This is one of the several ways whereby the current pandemic has positively affected decentralized economy.

[Shohanur]

But it is really good for bitcoin and other crypto currency.People are knowing enough about crypto currency and features of it.

[nasipadang]

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 know what you mean about opening the door to a decentral economy where you refer to the use of cryptocurrency. but in a broader sense, a decentral economy or a centrally planned economy is an economic system that combines elements of a market economy. So some regions that implement a decentral economy also experience bad impacts, but decentral finance like crypto has the opposite impact because the economic system, both central and decentral, which basically uses fiat collapses. I think that's why currencies like bitcoin and altcoin have increased because people even switched and used crypto as a means of storing value for money.

[peterpanda]

Actually almost countries are suffering from corona virus. At this time, economy condition is not good enough. But people are joining with decentralized currency as they are getting benefits from it.

[2double0]

The biggest impact that shook the world is on the relations between China and all other countries (except few which are in China's favor). Global economy will take a big hit once things start to settle and it is because things will never be the same now, people will not get out of their homes too often so no old good days for businesses like petrol pumps, food restaurants, hotels, motels, casinos and anything outside. All of us are needed to have a mask compulsory on our face or we will be fined. Corona has changed the way we will be living our life now.

[mung_nasib]

from the emergence of covid recently many people have lost their jobs in the real world so that automatically the economy becomes weaker and the state must pay attention to the population in order to live in prosperity,from there, they may not be interested in trying to do online business without first having capital.

[emmybd]

Mostly economic crisis has increased because of this pandemic. Developing countries are facing many problems. They are fighting every day to stable their economic situation. World Bank thinks the global economy will decline by 2.1-3.9 per cent. It's not good news. Even global stock markets fell on 24 February 2020 due to a significant rise in the number of Covid-19 cases. Actually, the global stock market crashed, and it's heartbreaking news all over the world.

Import and export are not stable right now. As a result, countries which are dependent on export business are facing many problems. It's even difficult to fulfil the basic needs because of the economic crisis. Asian Development Bank derives that the global economy could lose between $5.8 trillion and $8.8 trillion, equivalent to 6.4 per cent to 9.7 per cent of the global gross domestic product. Europe and Central Asia will experience the largest fall of 27.5 per cent, Sub-Saharan Africa (23.1 per cent), South Asia (22.1 per cent), the Middle East and North Africa (19.6 per cent), Latin America and the Caribbean (19.3 per cent), and East Asia and the Pacific (13 per cent).

Today's world is not in a stable state. Every country is facing an economic crisis, especially the emerging countries because of this pandemic.

[CarnagexD]

It completely toppled down most countries' economies which forced some countries like France and Italy into near recession. Philippines asked for trillions of pesos of loans that they will soon regret once the other countries recover. It definitely created a huge feedback that one can srgue will take a huge amount of time before everyone can recover from it.

[nomenclatur]

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.

The impact of this pandemic occurring in various countries has not made so many economic changes that it is a problem of the government being unable to lift the country's economy and also this coronavirus cannot be lost it greatly disturbs the economies of all countries to be more able to survive at this time the most important thing to make the economy it is growing and it is still gradual a decentralized economy has no effect on the country too much.