What role can Phore play in the face of this looming financial crisis brought by the Corona pandemic? (I)
Today we live in a fast-paced world where we see the application of technology in our everyday lives. Going by history the process of this digitisation in some cases have been gradual while in some they have been hastened by life-threatening situations. The outbreak of the Covid-19 virus is one of such life-threatening situations.
Increased reliance on technology for meetings
A lot has happened within the past few weeks with the increase in the death toll from the outbreak, and with the other unfolding events, we see an increase in the need to apply technology to sustain a considerable level of sanity in the world today. One of the areas that we have come to rely more on technology now more than ever is in the need for virtual meetings, as the Covid-19 virus can be spread through contact, it only makes sense that temporary isolation around the globe curbs the spread.
But then, being social beings, the need to interact with each other to achieve common goals is a continuous process, hence the need to opt for virtual meetings. A good example of one of such is the just concluded ethereum meetup which was held through a webinar.
Crypto meetups around the world are quickly going virtual through webinars, the organizers are changing their plans due to intensifying coronavirus fears. An example is Consensus, a major global cryptocurrency and blockchain-focused event and is one among the many industry conferences that have gone virtual in recent times.
In line with the increasing number of industry events being delayed or cancelled in response to the coronavirus outbreak, now is the time to go digital. Aside from curbing the spread of this virus, we can see other advantages such as increased inclusion. This is because going virtual would break the barrier of distance, we might also have more attendance of participants now more than ever before; this would cost little or nothing.
Amid the coronavirus panic, we see that virtual gatherings have been discussed in the crypto community for a while. It becomes more glaring that this panic will cause the limit of technological innovation to be pushed further. This is already playing out as there have been talks on developing a platform for crypto community meetups in VR format to allow people all over the world to experience and interact with each other in virtual reality.
Increased reliance on technology for e-commerce
In recent times we have also experienced a growing need to carry out transactions virtually. Governments are now giving orders for their citizens to remain indoors. This brings a major question to mind here: Will this bring activities such as basic buying and selling to a full halt? The answer is no. This is because daily survival depends on activities such as this. Keep in mind that there is still a need to reduce human contact to the barest minimum. E-commerce can play a huge role in situations such as this, not only will it reduce/eliminate the need to have physical contact, it also takes away the need to exchange physical cash. A good example is Amazon and AliExpress, with these platforms we can drastically reduce human contact while transactions are carried out, even across the globe if we have an increase in these types of platforms.
Concluding remarks
From the discussion above it is evident that in the nearest future there will be a massive adoption of the use of technology for some aspects of everyday use such as meetings, transactions and in other aspects of life.
The introduction of other aspects of technology such as blockchain will bring a new twist into the equation and will come with a lot of possibilities. There can be many questions that would be worth asking. Will we be needing more of the platforms soon? What role can blockchain play in all of these will we need more virtual marketplaces, going forward? What role can Phore marketplace play? How long will this global pandemic last? All of these questions and more will be answered in the sequel. In the meantime, I’d like to know what you think of any other area the outbreak of this virus can cause. Stay safe!
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