Cryptocurrency can be used as a contactless payment method
Coronavirus is spreading at an alarming rate infecting thousands of people across the world. Various governments and world forums start to devise safe measures to prevent from COVID-19. World Health Organization (WHO) asks masses to use contactless payments instead of cash or banknotes. This might be a good opportunity for cryptocurrency to make its share in payments worldwide.
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At the start of the year, the Chinese banks decided to disinfect used money and then sealed for up to 14 days. The measure taken as dirty notes were supposed to involve in the spreading of COVID-19. At that time, nearly 1500 people had died from Coronavirus in Wuhan province.
After China and Korea, the bank of England also claims that banknotes ‘’ can carry bacteria or viruses’’ and recommends citizens to wash their hands after the use of banknotes.
WHO Suggests ‘Contactless’ Payment Methods
The world health forum WHO advises people to go for contactless payments instead of physical money. The spokesperson of WHO accepts that banknotes can carry the virus for days and asks people to wash their hands after using physical money. The suggestion of WHO for digital payments clues for Bitcoin and other digital currencies. Will cryptocurrency prevent masses from Coronavirus? The question is now in the minds of crypto maximalists and must explore.
At press time, 121,175 cases of COVID-19 have been confirmed worldwide, and 4,337 people have died so far. People will have to follow strict safety precautions to stop the virus. As WHO suggests, there is a need for digital payments. So, cryptocurrency can fulfill this void.
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Crypto Can Serve the Purpose
The central banks of various countries are devising a plan to launch their Central Bank Digital Currency (CBDC). However, no central bank becomes successful in providing digital coin so far. The Chinese central bank was the first to announce its CDBC but delayed due to the Coronavirus outbreak.
Cryptocurrency can be used as a contactless payment method to safeguard people from the Wuhan-based outbreak. It’s a time for blockchain money to show its potential as a reliable and safe-haven asset.
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