Here's why fighting COVID-19 needs more than blockchain to succeed:
, Sweden with the e-Krona and Japan are pretty advanced in issuing central bank digital currencies . Even the Bank for International Settlements has come out with a bulletin focused on the future of cash and payments, pointing out that coronavirus could be transmitted by cash. While such claims are highly debatable, we can see from the below chart that central banks are on both ends of the spectrum, either trying to bring trust in cash bills or urging for alternative contactless payment methods.
Overall, we are faced with completely new conditions to deal with due to the COVID-19 pandemic that took the world by surprise. In those new environments we need to implement solutions quickly and on scale. Problems that we never before thought existed, like how to safely distribute money and financial aid to people safely, are now knocking at our doors and need immediate attention.
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