Would Bitcoin or Government Paper Money prevail in a Post-Corona World?

By Joseph .E. Ajogwu

These are uncertain times faced by countries around the world, as the world gradually slides into a global financial crisis.

With the IMF declaring a looming global downturn due to the coronavirus, about a total of eighty Countries have already asked that they should be giving financial help due to a rapid downturn in their various financial economies. The world as we know is currently facing one of the worst financial turmoil in decades, with fears that a years-long recession may begin due to the coronavirus

It is now common knowledge that the U.S federal reserve made some key decisions to print trillions of dollars to help alleviate the growing rate of unemployment amongst its citizenry, and thus this would most definitely have an adverse effect on global inflation as most countries around the world depend solely on the Dollar as a hedge against their own weaker currencies.

With the apparent hyperinflation of Paper currencies like the Dollar in sight, Bitcoin and other Cryptocurrencies now appear as far more attractive alternatives to Paper Money as a weaker Dollar would only speed of up the process for the rapid adoption of  cryptocurrencies

On a Positive note, wealth is never been destroyed. In every financial crisis, there always exists an opposite side of the coin where wealth is been exchanged into another new set of hands.

Bitcoin and other Cryptocurrencies are the tools that would drive wealth into the hands of the next generation of millionaires, they offer a safe haven for people’s assets to be safely stored without relying on global monetary frameworks despite the fluctuations in the price of Bitcoin and other cryptocurrencies. Holders are rest assured that their funds won’t be affected by inflationary decisions made by regular central governing authorities.

With the overwhelming number of Altcoins on the market, only a microscopic few which offer actual real value in utility would thrive and become more relevant based on the solutions the provide to people needs.

The  Tatcoin a native erc20 token built on the Ethereum blockchain is a utility token built by the ABiT Network and it’s currently powering a wide range of decentralized applications created to upgrade the way of life for even the regular guy on the street.

This token has been built to usher in a new era of financial dependence for most underdeveloped and developing societies around the globe by solving the most basic needs common to man thereby providing solutions in the area of personal finance, travel, agriculture and even in Skill acquisition to mention a few.

To learn more about the Tatcoin token visit our website at https://abitnetwork.com.

How useful was this post?

Click on a star to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Leave a Reply

Close Menu