Crypto M&A: A Solution to Neutralize the Economic Downfall that Arises During COVID-19 Pandemic
A pandemic has taken its toll worldwide and brought the global economy into a standstill. COVID19, a novel coronavirus, raised a health hazard that has drastically changed how our society is functioning every day.
Initially regarded as a minor threat to one’s life, the novel coronavirus has infected an immense number of people, reaching to more than a million cases at the time of writing. This overwhelmed healthcare institutions as people of different race and status were all vulnerable to a virus non-visible to the naked eye. The COVID19 pandemic has risen at an alarming rate, threatening not only people’s lives but the global economy as well.
Under the reign of globalism, we are not only challenged to protect lives, but we are also trying to survive a global economic downturn. With a disrupted cycle of life, many enterprises were forced to minimize their operations and even lay-off workers to keep their financial records in check. Worldwide stocks plummeted and even the Bitcoin fell to its lowest in 7 years and showing the unstable volatility.
Slowly businesses have been falling short in meeting their targets for the first quarter. The fueling workforce to drive the economy is currently at rest. And now, amid what the world is undergoing, TNC believes that cryptocurrencies can withstand the ripples of this crisis.
Cryptocurrency Thrives Amid the Coronavirus Pandemic
We are submerged under economic pressure brought about by a lethal pandemic, an existing oil trade war, and unstable stock markets. As recession draws uncertainty, the majority of the population tends to save more — triggering a liquidation crisis. The crypto market was affected but compared to the traditional markets, crypto is thriving in the middle of what our world is facing today.
Market Resiliency
During the initial spur of the pandemic, cryptocurrency markets along with the stock markets were greatly affected by the pandemic situation which resulted in a great drop in Bitcoin’s value. However, when Bitcoin grew 20% after a major drop, it proves the cryptocurrency market remains resilient amidst the panic. Crypto markets are open and in usual operations. As of the current situation, crypto traders won’t have to worry about a market shutdown.
On the contrary, the US stock markets temporarily shut down after the oil market shock. And the coronavirus epidemic poses an even higher risk for Wall Street finance as New York becomes one of the states severely affected by the virus in the USA. Due to this, some big companies headquartered in New York are at risk. Some of the world’s largest banks are also affected. Many are considering restructuring or reducing their headcounts to be able to sustain in the heat of COVID19. Other banks are planning to move and continue their operations in safe locations. In fact, Goldman Sachs traders opted to send their staff to work remotely for a trial period.
Decentralized Workforce
When banks and other institutions are just now trying to explore the idea of a remote-working workforce, the concept of a decentralized workforce is already been in practice and even a standard norm for many blockchain start-ups and cryptocurrency companies that leverage the use of technology from a few years back. The crypto asset industry is undoubtedly one of the best-equipped in handling not only cross-border money transfer but also managing a decentralized workforce.
While many large crypto exchanges have physical locations to deliver its services, most crypto exchanges and trading operations can be carried out digitally or done online. Thus, the crypto community can be certain that the spread of COVID19 or any other pandemic cannot significantly affect the market from an operations perspective.
Cross-Border Transfers
During a lockdown, social distancing, and community quarantine period, digital currencies can be more accessible to transfer and liquidate. Even established banks can be less efficient in providing their services and managing transactions as their workforce gets slashed or are home-based. On the other hand, cryptocurrencies are based on secure and fast blockchain networks that can facilitate seamless cross-border transfers to anywhere in the world — as long there is an internet connection.
As most of the communities are in quarantine, people with no bank accounts in developing countries cannot get their support by going to physical counters of money remittance companies like Western Union. With cryptocurrencies, recipients would just need a digital wallet to receive the funds almost instantaneously without the need to step out of their homes.
Digital Payments
With people being stuck indoors, paying bills and shopping online are the most practical options. people opt to pay their bills and do their shopping online. Many business institutions are also developing online payment gateways to allow their customers to pay online. Due to its convenience, online payment options are more preferred by average consumers.
Compared to fiat, cryptocurrencies are arguably safer to use in transactions than cash. Digital payment methods using crypto is very easy to track as your transactions are recorded on your wallet. Since digital wallets are encrypted, it is more secure than having your cash on hand.
Did You Know?
The coronavirus can live on cash paper bills and some countries are quarantining banknotes to refrain the spread of coronavirus through cash.
With all the advantages discussed above, TNC believes it is just a matter of time for cryptocurrency to prove itself strong in a market drowned in uncertainties.
Crypto M&A Helps Altcoin Survive in the Aftermath
Despite the positivity we see in the cryptocurrency market, many altcoins have faced a major price drop as trading activities lessen during the crisis. This happened during this year’s first quarter as crypto investors started to liquidate crypto assets in fear of having big losses caused by the pandemic situation.
Crypto M&A program is designed to take a portion of the worldwide crypto market by merging about 500 cryptocurrencies into one as TNC Coin — through the process of a token swap. The merge will drive trading volume to surge and users’ part of the swap can take advantage of exchanges where TNC Coin is expected to be listed.
According to Crypto M&A Executive Director Jason Jang, the Crypto M&A program offers an opportunity for blockchain companies to redirect their path and gain the capital they needed to restart. During the CC Forum 2019 event in London, Mr. Jang has stated on stage:
“Merging will be good for them [blockchain companies], we will not just take their token and community then desert them… If their technology development is good enough we will re-invest [on their project]. We are giving them a second chance.”
Crypto M&A program is deemed perfect in timing at this point in time. As it can serve as a reboot system and a viable solution for blockchain companies that face funding challenges. TNC IT Group opens an opportunity for companies to grow their resource by uniting cryptocurrencies through a token swap. With this being said, TNC Coin holders can be ensured of a promising token value with a wider ecosystem in the future.
TNC Coin is a new and promising asset set to revolutionize the cryptocurrency market. It was designed to be the main digital currency of the Crypto M&A program, an initiative created to build a wider ecosystem to foster fast and wide crypto adoption. To learn more about our Crypto M&A click on the hyperlink on this sentence to open a brief explainer on how TNC will perform the merge.
Know more about TNC Group by following our official channels.
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