Economy after COVID-19

[Dayx]

cash will never be replaced i think. there are many people in the world with no bank account because their salary is only enough for them to use it for living at that month. banks might be facing difficult situation for couple of years and some people will terminated from their work too, but in some country they still force their people to work so i think some country will survive even though the death toll will raise.

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[Raflesia]

Some countries and some companies will survive but most of the countries will have a recession, these countries are those coming from third world countries and those with very high numbers of infected.

After the corona ends, the form of the economy cannot be ascertained considering the predicted end of a pandemic. Because after all the pandemic is a burden on the state budget. Therefore many countries have begun to reopen their economies even though the corona pandemic fire has not yet ended. The longer the lockdown, the longer the market is closed, and the longer the activity ban is imposed, the passion and ability to consume will decrease. even though in the midst of the global supply chain breaking up, domestic consumption is the only mainstay of the government to turn the economy.

Because it also takes a long time to restore the country's economy back to recovery and I think the corona virus will not end in the near future so this burden will be borne by the state for a long time, yes of course it will use up the budget because the needs must be met for the community due to activities in limit even the lockdown is still valid then this will complicate the regional economy.
Everyone knows that many of these conditions are experienced, so we have to raise the economy we must look at other people or government policies.

[Mosolad2006]

I sincerely hope and believe that economy will probably pick up after this Pandemic due to the set back recorded in the periods of stay at home due to pandemic. And strongly believe that every investor would like to gear up for to recover the past lost. Government also will put all strategy in place to get more revenue to sustain the economy of their state.

[Abiky]

I think we are not going to have it "fully" since we don't have any of the system to handle it now, payment processors handling it themselves would need a lot of work, but this is not impossible to happen in 2 to 3 years especially when we defeat this pandemic. As our technology advances, my hope for cashless society is getting bigger, it's like a dream in a process to come true.

Payment processors may not be ready to handle all the world's transactions, but they will as technology evolves in the future. As COVID-19 spreads around the world, people will look for ways to conduct transactions in a contactless way possible. This will force businesses and merchants to change their ways. Digital payments will be the norm of the worldwide economy after the demise of COVID-19. Now that physical cash use has declined, governments have started exploring the possibility of CBDCs. Our economy will be a lot better than what it is right now, due to increased efficiency and reduced costs of Blockchain technology.

Sooner or later, we'll be heading into a cashless society where physical bills/banknotes will be a thing of the past. COVID-19 has only accelerated the adoption of digital payments by a large margin. As more people become interconnected in the online world, the future of commerce will rely on digital payments via credit/debit cards, CBDCs, and even decentralized cryptocurrencies like Bitcoin and Ethereum. The world's economy will recover at a slow and steady rate after the demise of COVID-19, but it's expected that we'll return to normal (hopefully). Just my opinion

[tbterryboy]

What you have said here is not possible in any way mate . You said a world where people are only attached to the online world. Lol how is that even possible, how is it ever going to happen? Me and you know for sure that such a thing is not going to happen, there is never going to be a world where people are just glued to their computers and not going out any more, that’s not going to happen.

You cannot stay indoors with your face glued to the screen everyday of your life unless you’re a zombie . People will always want to go outside, that’s why a lockdown has been difficult to achieve. Fortunately covid19 virus itself getting weakened after every mutation it goes. So, we can expect everything to be restored as early as possible.

[Freeesta]

[/quote]
I think the economy will recover. It will take several years. I am a fan of cryptocurrency and I think that in the near future payments in cryptocurrency will occupy one of the leading places in the payment system. it seems to me that the leading place in the cryptocurrency market will remain with China.

[shoreno]

I think the economy will recover. It will take several years.

recovery time depends on country too  . some have a fast recovery rate because they will allow all business to open up while majority are doing it slowly   .

 less business will be open ,  less people will work or go outside  but thats better because atleast corona didnt totally take over the peoples lives/lifestyle .

I am a fan of cryptocurrency and I think that in the near future payments in cryptocurrency will occupy one of the leading places in the payment system. it seems to me that the leading place in the cryptocurrency market will remain with China.

is that important ? to occupy or not , its already enough that crypto are now recognized as a legal kind of currency   .

[abhiseshakana]

I sincerely hope and believe that economy will probably pick up after this Pandemic due to the set back recorded in the periods of stay at home due to pandemic. And strongly believe that every investor would like to gear up for to recover the past lost. Government also will put all strategy in place to get more revenue to sustain the economy of their state.

We all understand that the world economy is in a downtrend and cash flow phase, many countries are also stalled due to quarantine. This affects almost all business sectors including micro, small and medium enterprises. de globalization brought the economy into recession because the volume of trade between countries also fell.

Many investors take a wait and see positions while holding their cash money. They are waiting for the results of November's election as a form of certainty of the effects of the dispute between China and America. While the have masters of cash continue to act cautiously and attract existing businesses without investing in new projects. The lack of investment and the decline in investment enthusiasm from investors is increasingly hitting the domestic economy, plus the swelling of the pandemic handling budget makes the economy more difficult.

Even though many governments have loosened quarantine does not seem to affect the mood of investors even they are more careful. The country needs its special mover for the existing groups to push the supply sector back into operation through labor-intensive industries.

[Nathanz]

The economy after this pandemic will slowly rise up. Remember, this is once in a century phenomenon, therefore this will have a strong impact to the economies and it will take time for these economies to rise. It will rise eventually but it will take time due to the fact that this phenomenon is very unexpected.

[Timmzzy]

With the ever-increasing need for social distancing, people are recurring to online payments and e-commerce sites. The longer it takes to find a cure for the disease, the faster our world will change economically. During the pandemic, people will be using credit/debit cards more than physical cash itself. It's no wonder since physical cash is known to carry germs and bacteria with them.

Now, imagine an scenario where the cure for COVID-19 have been found while people are directly attached to the online world. The economy might never be the same as before, since people will start to value intangible items over tangible ones more thoroughly. A world where everything is digitized or "tokenized" seems to be the economy of the future. By then, each country will have its own CBDC living alongside traditional cryptocurrencies we know and love today. China might be the first country to launch a CBDC, followed by the US and several other countries. The launch of government-backed digital currencies wasn't a subject that heavily touched by world leader before the pandemic. Now that coronavirus encourages social distancing, things will accelerate quite a bit in the development of CBDCs for the whole world to use.

How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.

The economy in Nigeria is already crashed down, now the recent news am getting on radio is that the president has just borrowed money for the country again. After former debts which I believe hasn't been cleared. Am just feeling for other businesses which has been closed down for long.

[dentolas]

I think that there are a lot of things that definitely will never be the same again... some businesses will vanish or their market will shrink dramatically (like restaurants, concerts, live assistance at football games, etc). The demand for online ways to sort out your daily stuff is rising like never before... i don't belive that there will be a turning back after these new ways of living get assimilated by society in general...
National debts are rising, unemployment too (the society is adapting to an online life and there are a lot of jobs that are lost), so central banks are just printing away like crazy...
Don't know if this is the dawn of crypto adoption... but it sure looks like it

[carlisle1]

With the ever-increasing need for social distancing, people are recurring to online payments and e-commerce sites. The longer it takes to find a cure for the disease, the faster our world will change economically. During the pandemic, people will be using credit/debit cards more than physical cash itself. It's no wonder since physical cash is known to carry germs and bacteria with them.

Well indeed mate,i also using my credit/debit cards this past months for i don't wanna have physical contacts in any one or thing outside my house to prevent the virus.

Now, imagine an scenario where the cure for COVID-19 have been found while people are directly attached to the online world. The economy might never be the same as before, since people will start to value intangible items over tangible ones more thoroughly. A world where everything is digitized or "tokenized" seems to be the economy of the future. By then, each country will have its own CBDC living alongside traditional cryptocurrencies we know and love today. China might be the first country to launch a CBDC, followed by the US and several other countries. The launch of government-backed digital currencies wasn't a subject that heavily touched by world leader before the pandemic. Now that coronavirus encourages social distancing, things will accelerate quite a bit in the development of CBDCs for the whole world to use.

actually this is the only thing that we need to happen in crypto before people finally realizes what they are missing here,they now starting to find Bitcoin and cryptos help benefits and not for anything more.

How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.

My friends now starts to gambling online using crypto currency,and also starts learning what Crypto is all about.

so for me there are some percentage of people enters this market meaning online users are now higher compared to before the pandemic comes.

[michellee]

I think the economy will recover. It will take several years. I am a fan of cryptocurrency and I think that in the near future payments in cryptocurrency will occupy one of the leading places in the payment system. it seems to me that the leading place in the cryptocurrency market will remain with China.

We hope that the economy recover will not take several years, as you said. But yes, every country needs to rise after Covid-19, and people need to start to works again, no matter if they already lost their job, they will find another job. But I doubt if the cryptocurrency will be implemented in many countries in a short time because many countries still prefer to use their fiat money.

[Argoo]

The International Monetary Fund predicts the onset of the toughest global economic crisis since World War II. Whether it will be so or not, time will tell. However, it is already evident that the economic potential of almost all states has now fallen dramatically. It will take a certain amount of time to restore it. Maybe not just one year. At the same time, unprecedented measures to combat the spread of coronavirus have also shown positive changes in the planet's climate. Everything is changing. After coronavirus, the world cannot be the same.

[gabbie2010]

The economy after this pandemic will slowly rise up. Remember, this is once in a century phenomenon, therefore this will have a strong impact to the economies and it will take time for these economies to rise. It will rise eventually but it will take time due to the fact that this phenomenon is very unexpected.

It going to take some period of time before those economies becomes normal while this pandemic had already changed the orientation of people towards some businesses of course some these businesses might thrive again even in the aftermath of covid-19.
More so its becoming worrisome that a breakthrough in the vaccine had not yielded any positive result while some countries had already opened up their economy while the pandemic is still ravaging thus dealing a blow to many businesses I hope the pandemic should not linger on for years else the world economy will enter a total recession.

[hahay]

I think the economy will recover. It will take several years. I am a fan of cryptocurrency and I think that in the near future payments in cryptocurrency will occupy one of the leading places in the payment system. it seems to me that the leading place in the cryptocurrency market will remain with China.

We hope that the economy recover will not take several years, as you said. But yes, every country needs to rise after Covid-19, and people need to start to works again, no matter if they already lost their job, they will find another job. But I doubt if the cryptocurrency will be implemented in many countries in a short time because many countries still prefer to use their fiat money.

At least the initial step that must be completed is about the vaccine itself and if this pandemic really ends at least that's when the economy will recover soon and I'm sure about it will recover quickly. Regarding cryptocurrency, I personally believe that at least there will be definite steps for its use whether it is for digital transactions or other matters which will certainly prioritize digitalization to prevent the spread of any viruses that might happen again in the future, who knows and the steps for receiving cryptocurrency are proof or a solution for prevention, because the use of fiat should be reduced so that no more viruses spread.

[michellee]

I think the economy will recover. It will take several years. I am a fan of cryptocurrency and I think that in the near future payments in cryptocurrency will occupy one of the leading places in the payment system. it seems to me that the leading place in the cryptocurrency market will remain with China.

We hope that the economy recover will not take several years, as you said. But yes, every country needs to rise after Covid-19, and people need to start to works again, no matter if they already lost their job, they will find another job. But I doubt if the cryptocurrency will be implemented in many countries in a short time because many countries still prefer to use their fiat money.

At least the initial step that must be completed is about the vaccine itself and if this pandemic really ends at least that's when the economy will recover soon and I'm sure about it will recover quickly. Regarding cryptocurrency, I personally believe that at least there will be definite steps for its use whether it is for digital transactions or other matters which will certainly prioritize digitalization to prevent the spread of any viruses that might happen again in the future, who knows and the steps for receiving cryptocurrency are proof or a solution for prevention, because the use of fiat should be reduced so that no more viruses spread.

The vaccine needs a long time before it can release to the public because to found the vaccine itself is not easy. The vaccine needs to be tested before it is safe to be given to a human, and until that time, the government can use the other way to increase the immune of the infect people. As aside of that, the economy will recover by itself, and people will start to do something and back to make money while the government still help people to cure the virus. The using of paper money needs to reduce, and maybe people will start to use digital money to pay something. Maybe at that time, we will see a new transformation of the economy in many countries.

[Negotiation]

I think the real crisis will come after COVID-19 The virus has crippled the economy of every country and if no vaccine has been discovered so far it will take a long time to recover. However if the government wants, it can improve the country's economy by investing in crypto Crypto plays a helpful role in improving the country's economy That is why every government in every country now wants to legalize crypto.

[Janation]

I sincerely hope and believe that economy will probably pick up after this Pandemic due to the set back recorded in the periods of stay at home due to pandemic. And strongly believe that every investor would like to gear up for to recover the past lost. Government also will put all strategy in place to get more revenue to sustain the economy of their state.

That is why they are doing things for the better.

Our country is adding some things for them to gain more tax, right now resellers of online shops are being required to get their license. In the past, the government is not actually caring about these resellers but right now, since the lockdown and online shops are a hit, they will be making ways so that they could tax resellers. I am not against it but there will be a problem for some resellers about it.

[Abiky]

The International Monetary Fund predicts the onset of the toughest global economic crisis since World War II. Whether it will be so or not, time will tell. However, it is already evident that the economic potential of almost all states has now fallen dramatically. It will take a certain amount of time to restore it. Maybe not just one year. At the same time, unprecedented measures to combat the spread of coronavirus have also shown positive changes in the planet's climate. Everything is changing. After coronavirus, the world cannot be the same.

It may take a very long time for the economy to recover after COVID-19. Even the US' Chairman of the Federal Reserve Bank said so. With constant money printing, Fiat will continue to be debased. For the economy to get right on track, there needs to be a vaccine or cure available for COVID-19. Only then, people will feel safer in this world. After that, the unemployment rate will decrease as people start taking jobs to boost the economy. The current situation we're facing, looks very similar to "The Great Depression". I hope that people cooperate by following government safety guidelines in order to avoid further spread of the dreaded coronavirus disease. Because if everyone takes this easy and slow, I'm afraid that the world's economy will take decades to fully recover.

In the bright side, the impact of COVID-19 will change our lives for the better. It'll be end of physical cash, transitioning into a fully-digital economy. With social distancing measures, people will often do their jobs remotely. Salaries will be paid in CBDCs, while physical interaction will be a thing of the past. It'll be interesting to know how our economy will truly be in the future once the COVID-19 nightmare ends. I have a feeling that it'll never be the same as it was before. Just my opinion