COVID-19 Effect On Blockchain & Cryptocurrency
Coronavirus has been the biggest disrupter of the 21st century worldwide. It has drastically changed the lives of people in a short time and overhauled the functioning of economies. There has been a rapid shift towards online payments and Cryptocurrency development rose to the occasion as people fear that the virus may be transmitted via currency notes and coins. Bitcoin, the leader of the cryptocurrency industry has surpassed the $18,500 mark which is its highest since December 2017 . It also serves as an effective hedge against inflation and government intervention. The vulner a bilities of the existing financial system were shown as they could not serve the unbanked and underbanked sections of the population due to the ongoing pandemic. Ripple has been a blessing in disguise as it uses blockchain technology to reduce the costs of cross-border fund transfers. Many companies like PayPal, Blockchain App Factory, and Square are also betting big on the future of...