Economy after COVID-19

[Bezobraznike]

Apparently the economy will be more digital and it is positive to penetrate more spaces with bitcoin and cryptocurrencies. Definitively, traditional banking needs to implement reforms and adapt to the present.
The covid19 has allowed us to interact in our activities taking into account social distancing. Already the large corporations worldwide are working remotely, which indicates that technological developments will be in search of the digitized world.

   Now people see how safer is to use digital payments, because cash spread diseases. I agree with you Verita1, this is a positive
sign, people will be forced to use technology more, and to learn about technology, I am positive about that, this will lead them
to learn about the crypto-currencies and financial freedom they can achieve with crypto-currencies.

[Pamadar]

Apparently the economy will be more digital and it is positive to penetrate more spaces with bitcoin and cryptocurrencies. Definitively, traditional banking needs to implement reforms and adapt to the present.
The covid19 has allowed us to interact in our activities taking into account social distancing. Already the large corporations worldwide are working remotely, which indicates that technological developments will be in search of the digitized world.

   Now people see how safer is to use digital payments, because cash spread diseases. I agree with you Verita1, this is a positive
sign, people will be forced to use technology more, and to learn about technology, I am positive about that, this will lead them
to learn about the crypto-currencies and financial freedom they can achieve with crypto-currencies.

With that advantage for digital money, people who are afraid being infected of this virus will now force to learned how to work with digital money, it's really a good advantage to this industry including crypto, the more interest the more possibilities that more people will adopt this system,
lots of businesses and establishments to cater digital money including cryptocurrency.

[Raflesia]

With that advantage for digital money, people who are afraid being infected of this virus will now force to learned how to work with digital money, it's really a good advantage to this industry including crypto, the more interest the more possibilities that more people will adopt this system,
lots of businesses and establishments to cater digital money including cryptocurrency.

This is an extraordinary increase where digital money will work more widely in the community because it has been forced to use digital money transactions to avoid viruses and pandemics. Of course there are good things too, so that cryptocurrency will be more commonly known as transactions among the public.

My area for business has also begun in crypto finance but is currently still being studied as a more normal transaction and avoided Covid-19.

[Abiky]

During the Covid-19 outbreak, many companies had the opportunity to experience different methods of working remotely. After the pandemic, we will see that working remotely has become more widely used, especially in the services sector. This experience can pave the way for large companies, especially in some departments, to purchase more services from the outside. Because of this reason many more people will doing online payments and use e-commerce sites.

That's certainly true, mate. Like it or not, COVID-19 will leave a mark in our society that will last for a very long time. The economy will never be the same as it shifts from the physical to the digital world. Every job will be done in a remote fashion. The same applies to education, healthcare, and more. It won't be long enough before physical cash is phased out, paving the way for an entire cashless society in the not-so-distant future. For what it seems, everything is changing at a fast pace. Before you know it, the economy will gradually recover to its pre-COVID-19 levels. We just have to be patient in order to obtain good results in the future.

So far, the United States Dollar remains the reserve currency of the world. Despite the decline in the American economy, the USD is still going strong. A vaccine is expected to be released by 2021, giving the USA hope to see the "light at the end of the tunnel". Once people are in good health, we can focus on building a strong economy that will last for decades to come. Just my opinion

[Genemind]

I believe that some businesses will eventually die due to the adjustments and restrictions that have to be done due to the pandemic. Some businesses had made a lot of adjustments to be able to cope-up and to have their businesses survive. New forms of businesses emerged most of them are online, delivery services, and etc. which are convenient since most are locked-down or skeptic to go out due to the virus. The economy is not doomed, it will surely recover but in a slower phase.

The pandemic had taught us to be resourceful, creative, and be prepared for the worst-case scenario.

[$crypto$]

That's certainly true, mate. Like it or not, COVID-19 will leave a mark in our society that will last for a very long time. The economy will never be the same as it shifts from the physical to the digital world. Every job will be done in a remote fashion. The same applies to education, healthcare, and more. It won't be long enough before physical cash is phased out, paving the way for an entire cashless society in the not-so-distant future. For what it seems, everything is changing at a fast pace. Before you know it, the economy will gradually recover to its pre-COVID-19 levels. We just have to be patient in order to obtain good results in the future.

So far, the United States Dollar remains the reserve currency of the world. Despite the decline in the American economy, the USD is still going strong. A vaccine is expected to be released by 2021, giving the USA hope to see the "light at the end of the tunnel". Once people are in good health, we can focus on building a strong economy that will last for decades to come. Just my opinion

Simultaneously we must continue to use digital in any transaction because this Covid-19 is still happening so this step will adopt greater digital technology applied in various regions including many currently using long distance transactions without non-cash.
I am sure that cash will not be deleted because that is the essence of all transactions, but I only believe that adoption now will be better after covid-19 is over.

[elisabetheva]

I agree with you that the economy will get worse after the epidemic experts say no one can say whether the country's economy, which has been hit by the epidemic will return to where it was in two or three years. The central banks have suffered a lot due to the downturn in the economy but again if miners increase their use it is possible but for this the government should be given more allocation in the economic sector.

   The economic consequences of Covid-19 call for urgent help, governments needs to support people and companies, it's
necessary. That is needed if we wish the economy to stay alive. And it's most of the governments are doing, they voted
for aid, and that aid is coming.
   I just hope it will be a fair distribution, that all small companies and people in real need will get this help, not just big
ones.

With the help of the people as well as foreign aid the country's economy can be easily recovered you are right that the government must have support however, as the whole world is affected by Covid-19 it is possible to bring some control under foreign control if foreign aid is stopped but after the virus the economy will be in a lot of crisis.

with foreign exchange reserves which should have been used for other purposes because of the pandemic, everything was diverted to overcome the pandemic. this will obviously affect a country's finances when a pandemic is over, if there is no assistance from an established country or loan assistance from the IMF.
to help the country's financial recovery quickly must be supported by large companies and all large sectors that produce finance, to immediately conduct activities so that tax revenues can cover foreign exchange reserves used.

[perfect999]

The economy is not doomed, it will surely recover but in a slower phase.

The economy will recover based on the various sectors because a sector like hospitality will take a long long time to recover because they are hit the hardest be it restaurants or be it clubs, party house,etc and even travel industry is shaken to the roots because no one is going to travel as much as they used to before even once the pandemic ends because there will also be a fear of getting in touch with someone who is covid-19 positive in future. It might hurt us but the virus is going to remain forever even after the vaccine is found there will always be cases and overall cross border trades would be hit hard.

Apart from these sectors though there will be a decent normality once the virus is reduced or completely erased. More online businesses are being setup already so I feel the technology is going to be massive in coming years because everyone is going to work online and more researches will be made every day. Also the medical industry will be pretty good because all the focus in recent times has been on medical sector.

[Abiky]

I believe that some businesses will eventually die due to the adjustments and restrictions that have to be done due to the pandemic. Some businesses had made a lot of adjustments to be able to cope-up and to have their businesses survive. New forms of businesses emerged most of them are online, delivery services, and etc. which are convenient since most are locked-down or skeptic to go out due to the virus. The economy is not doomed, it will surely recover but in a slower phase.

The pandemic had taught us to be resourceful, creative, and be prepared for the worst-case scenario.

Agree. Merchants will be forced to change their business models in order to participate in the new economy. The effects of COVID-19 in the mainstream world, will shift everything from the physical to the digital realm. If businesses want to stay ahead of the game, they'll need to accept digital payments more thoroughly without establishing a physical presence in the real world. Our economy will recover slowly but surely after the demise of COVID-19. But it'll never be the same it was before the outbreak. The Fourth Industrial Revolution will go full speed ahead thanks to the emergence of COVID-19. This means AI will eventually replace tasks performed by humans, while Blockchain will serve as the "Layer of Trust" for the digital economy and the world's supply chains. I think all of this will happen in a decade or two from now.

While central banks won't be going anywhere, they'll certainly benefit from a cashless society. They'll play a major part in our economy with the use of Blockchain technology. This is largely because a centralized distributed ledger will give said entities full control over people's money. That's not possible today since physical cash is still being used worldwide (giving people some level of anonymity). But with CBDCs in the new post-COVID economy, privacy will become a thing of the past. The transformation of the economy after COVID-19 will be quite astonishing, as governments and central banks gain greater dominance over mainstream finance like never before. Just my thoughts

[erikoy]

During the Covid-19 outbreak, many companies had the opportunity to experience different methods of working remotely. After the pandemic, we will see that working remotely has become more widely used, especially in the services sector. This experience can pave the way for large companies, especially in some departments, to purchase more services from the outside. Because of this reason many more people will doing online payments and use e-commerce sites.

Until now it still be doing online because the pandemic is still up to to present. This is why some of the economy had slowly to accept that covid19 is already there and wether we like it or not most of the economy now needs to recover and that by opening the establishments again. It may be worst but many were already gets affected by this and this is why the government had to open the economy again to survive.

[noormcs5]

During the Covid-19 outbreak, many companies had the opportunity to experience different methods of working remotely. After the pandemic, we will see that working remotely has become more widely used, especially in the services sector. This experience can pave the way for large companies, especially in some departments, to purchase more services from the outside. Because of this reason many more people will doing online payments and use e-commerce sites.

Working remotely will also help the companies to reduce their cost. Previously if a company have 100 employees, they would have to rent a office to accommodate these 100 people but now they can rent a smaller office and keep 50% of the employees to work from home. Things will completely change after this covid19 pandemic.

[JohnBitCo]

During the Covid-19 outbreak, many companies had the opportunity to experience different methods of working remotely. After the pandemic, we will see that working remotely has become more widely used, especially in the services sector. This experience can pave the way for large companies, especially in some departments, to purchase more services from the outside. Because of this reason many more people will doing online payments and use e-commerce sites.

Remote work is not very beneficial for large companies, since a lot of them are based on team building. It is difficult to build a close-knit team moving towards one goal if all of them are located remotely.

Also it is difficult to judge the performance of the individuals working from home. You will never know if the person is really working from home or just passing his time on other work. It is difficult to create a working environment at home with kids and family always disturbing you while working.

[celot]

Still not conclusion when covid 19 end then start new era with travelling to other country, today I am worry have out from my home because my country raise more than one hundred people get corona virus, I think every day raise up new covid 19 victim and government not have way how to stop corona virus and give better situation in my country.

[AjithBtc]

My country stands third in the world. By the time we've got low death rate compared to other countries in the list. Also the vaccination preperation were also going on partnering with different pharmaceutical companies in the global market. As of now the restrictions were getting loosen. Probably in month's time everyone will be asked to go on with their routine and take care of themselves if corona attacks.

[celot]

My country stands third in the world. By the time we've got low death rate compared to other countries in the list. Also the vaccination preperation were also going on partnering with different pharmaceutical companies in the global market. As of now the restrictions were getting loosen. Probably in month's time everyone will be asked to go on with their routine and take care of themselves if corona attacks.

Hope your country back to normal and pandemic ended soon, we are sorry to hear with many people pass away every day after covid 19 virus, until today still do not find what is solution for pandemic virus and what is the best way to stop this virus except stay at home. China become first country make this virus and they will have ready with medicine.

[Abiky]

Working remotely will also help the companies to reduce their cost. Previously if a company have 100 employees, they would have to rent a office to accommodate these 100 people but now they can rent a smaller office and keep 50% of the employees to work from home. Things will completely change after this covid19 pandemic.

That's certainly true, mate. COVID-19 has already transformed our economy in ways we've never imagined. What was once optional is now mandatory. Jobs will completely switch from the physical to the digital realm, enabling employees to work from home remotely. It's the way of the future, as COVID-19 has brought us a valuable lesson. After all, social distancing has been the main motivating factor of this change (working remotely). After the demise of COVID-19, our economy will recover at a slow and steady pace. But it'll never be the same. In the new post-COVID world, there will be a radical transformation of many areas such as finance, healthcare, and transportation. I think many of the jobs performed by humans today, will become replaced by AI (bots). Banks will operate in a completely digital way via the use of CBDCs. In this case, physical branches will no longer exist as customers will be able to perform everything across the web. The post-COVID economy might also have a new reserve currency that will replace the United States Dollar. It could be a one-world currency for all, or simply another Fiat currency like CNY, EUR, or YEN.

For now, we'd need to focus on battling COVID-19 to prevent further deaths. After that, the economy will be able to recover as usual. We've already been through pandemics, followed by a gradual recovery of the world's economy that has lasted for decades. With a COVID-19 vaccine, there could be light at the end of the tunnel. The USA is the most severely affected country in the world by COVID-19, which has negatively impacted its economy like never before. If the damage is too severe, it may take a very long time before the "USD" rises to its former glory. Whatever happens in the future, we'll never forget how COVID-19 changed our lives forever. Just my thoughts

[SANihal02]

Corona has become a cause of terror in the world. The countries are using lockdown as a tool to stop it. As a result, economic activities are coming to a halt. As a result, the World Economy Organization is seeing lightning clouds in the financial skies of the world. The economic downturn is expected to be long-term. Corona will also reduce the tendency of savings in the individual sector. Government development expenditure will also be greatly reduced. Investment in the public sector as well as the private sector will decline.

[iyamoxjhian]

well it will be hard for third world countries  to cope up  and recover after this pandemic..especially nowadays that there were continuous recessions and many workers were affected.. yes we are grateful for some companies that can do worm from home set-ups.. but the other companies can not adopt this kind of work set-up...or if they will then they need to restructure and provide budgetary for work from home set-up.. I believe that people will find ways to cope up and survive this pandemic.

[bayu7adi]

it seems that a new habit will emerge, namely the increased use of contact less or cash less services ...
such as the payment system imposed by several cinemas that will open after a long vacuum
and this is a great opportunity for cryptocurrency to find a hope that might become popular on the right time

[nasipadang]

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.

The cash problem is a problem for the government later, after all, many countries have used digital fiat even before Covid-19 appeared where we can transact with the help of smartphones. I think I've read that the Covid virus can spread through the air and that has been confirmed by WHO, even after pressure from researchers to justify this based on their research.

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.

How the economy will work after Covid, I think it depends on the plans of the governments of each country to make their economies grow. the economic impact due to covid-19 was quite large in the first month after it was declared that covid-19 was in the phase of a global pandemic.