The global lockdown situation due to the COVID-19 pandemic is causing both decreases in Consumer Expenditure and Output by farms. All the governments in the World including the Central Bank are on the way to expansionary policy but nothing seems to be like working, some are saying that this Virus is inviting a new great depression.
Dear Sakib Mahmud,
In connection with the development of the SARS-CoV-2 coronavirus pandemic causing Covid-19 disease in many industries and sectors, more and more companies are developing their activities via the Internet, remotely providing their services and selling their products under e-commerce. Many companies that did not do this before now switch to remote activities, carried out electronically via the Internet. The importance of Internet marketing, including viral marketing, Real-Time marketing conducted on social media portals is increasing. The development of electronic banking is also increasing, including online and mobile banking. The share of payments made electronically, without cash via the Internet and during payments with the use of electronic bank cards is increasing. More and more citizens paying in stores do not use cash but make contactless payments. Limits for all contactless payments made with bank cards have just been increased in some countries. Therefore, the SARS-CoV-2 Coronavirus will increase the share of payments made electronically in the context of all payments made in national economies, but it does not necessarily lead to the creation of a completely new cashless economic system. This cashless system has already existed since the 1990s, but in the past it was only a specific part of the overall payments, the financial system, etc., and gradually increased and underwent subsequent stages of the technological revolution. However, at present, due to the development of the SARS-CoV-2 Coronavirus pandemic, this development, i.e. the development of electronic economy, online and mobile banking, e-commerce, etc. has accelerated strongly. I posted more information on this topic on my RG profile. I conduct research in this matter and encourage scientific cooperation.
Greetings.
Dariusz Prokopowicz
Perhaps have a look at the central banks of Sweden, Netherlands, England, Russia, China, USA, ECB etc about this issue! Digital coins using DLT will be a trend in the coming decade.
It can be clearly seen that Corona virus has impacted on most of the countries economics and several companies financial situations. However, these impact is very dangerous for countries who depend on just one sources of income, and a good example of this might be Iraqi case because they depend all most all on Oil and its price fallen slightly. So that if this situation continuous seriously they will impact on their economics.
- Badges
- Science topic
- Similar topics
- Biological Science
- Microbiology
- Virology
- Virus