Cryptoindex Talks: World Digitalization🤖
The world was faced with the question of further digitalization. After all, after many companies were forced to switch to remote work, many of the employees and employers appreciated the advantages.
For employers:
- Less pay for rent;
- The ability to track the execution of tasks in real-time;
- Additional free hours that you can spend on yourself or building additional business processes.
For workers:
- No need to spend extra time on the road;
- The ability to spend more time with family;
- The ability to working and reporting to the CRM system.
There are undoubtedly disadvantages, but this process of digitalization of businesses was inevitable and COVID-19 only pushed him. This maelstrom of events is only a small part of what awaits us.
Many people have already begun to withdraw money from offline businesses and try to transfer money to a more reliable channel. Where?
Cryptocurrencies as a safe haven for any asset
Coinbase CEO Brian Armstrong posted on Twitter fresh statistics on exchange deposits. He drew attention to the fact that the number of deposits in the amount of $ 1,200 has quadrupled — this is the amount given out per American as part of the support program during the crisis caused by the COVID-19 pandemic.
The cash flow that rushed to the cryptocurrency market, in most cases, was divided into Bitcoin and stablecoins, as the two most protected crypto assets.
The situation does not just look like Germany after the First World War, it is already almost identical, only instead of the US dollar backed by gold and the mark nominally backed by gold, we have a paper US dollar and Bitcoin. $ 2,000 monthly payments to Americans are on their way as unemployment rises.
Bitcoin has excellent growth prospects along with gold, even if it retains the reputation of a “niche” asset, and does not become globally recognized money with a powerful network effect.
Also, in addition to increasing the number of Tether, Circle CEO cryptocurrency company spoke about a sharp increase in interest in the stablecoin USDC from the traditional business amid the coronavirus pandemic. In December, startup Circle revised its business model: they restructured part of the company, cut their product portfolio, and decided to focus on developing their own stablecoin.
A real mess is coming to the market. What will it result in global digitalization or a rollback with a crisis?
Mass Adoption
The COVID-19 pandemic has contributed to the spread of cryptocurrencies to a greater extent than it seems now. Many “busy” people have more time to learn about Bitcoin and other cryptocurrencies, to make the first cross-border transfer, and much more.
The cumulative effect of this will undoubtedly give a big echo in the future …
What do you think?
👉Share your thoughts!
Subscribe to our newsletter to get fresh analytics from Cryptoindex every 2 days for free!
The AI-based CryptoIndex algorithm is constantly learning by consuming huge amounts of data rapidly making decisions and choices that humans would struggle to match.
You can always check the current CIX100 composition on our website.
Stay updated on our channels:
Follow CRYPTOINDEX on Telegram
Follow CRYPTOINDEX on Medium
Follow CRYPTOINDEX on Twitter
Follow CRYPTOINDEX on Facebook
Follow CRYPTOINDEX on Linkedin
Follow CRYPTOINDEX on Reddit
