Moving beyond the crisis narrative: Crypto in a post-pandemic world
Over the last decade, crypto has weathered what feels like crisis after crisis. It’s time to think about what comes next. Everyone knows the story. When the first block of Bitcoin (BTC) was mined, the protocol itself entered a world of grave economic uncertainty. Not long before the market would hit its lowest point of the 2009 recession, Bitcoin was quietly created, dropped like a life raft alongside a then-sinking economy. The now infamous phrase “Chancellor on brink of second bailout for banks” was cribbed from the headlines, immortalized in code in the origin story of one of the most....
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The pandemic has put hundreds of thousands of businesses out of action, saw others fold and decimated great swathes of the economy.But, crypto thrived in this distributed environment. As the world clamped down and everyone was forced to decentralize, the crypto world shone.Perhaps crypto, born of a crisis, is most at home in one. Working from home is where we all have spent most of this crisis.Gaurang Tovekar is the CEO and co-founder at Indorse, a blockchain-powered enterprise SaaS platform. He says the company was perfectly placed to ride out the upheaval as the entire team has never....
The Coronavirus pandemic has driven people to take advantage of new business lines to deal with the economic crisis, and cryptocurrency is once again a headliner. Internet cafe owners in China are using their facilities to set up crypto mining farms after temporarily shutting down in 2020. Owners Are Earning Around $6,200 Monthly According to Sina, quoting a recently published report, almost 13,000 internet-fueled cafes that operate 24 hours a day, are depending on their high-end computers to mine digital assets, as their PCs were originally conditioned for gamers. Some of them claim to....
Some predicted the pandemic would provide the “perfect storm” for blockchain adoption. Did they overpromise? On Nov. 9, drugmaker Pfizer announced that its COVID-19 vaccine is 90-plus percent effective, and even though it may be premature to proclaim the pandemic’s end — as the virus continues to rage in the United States and Europe — once can at least speculate: Where will blockchain adoption stand when the crisis abates?Some predicted, after all, that the global healthcare upheaval might provide a perfect storm for worldwide blockchain adoption. A Harvard Business Review article from....
A growing number of Egyptians are reportedly turning to bitcoin amid rising unemployment and the economic crisis. An Egyptian bitcoin community is seeing a huge spike in the number of members interested in bitcoin mining and trading. Egyptians Increasingly Attracted to Bitcoin Many Egyptians are drawn to bitcoin amid the coronavirus pandemic, economic crisis, and resulting unemployment, Al-Monitor news outlet reported last week. A bitcoin mining and trading expert, Muhammad Abd el-Baseer, is a leading member of the Bitcoin Egypt Community, one of Egypt’s professional online....
The Bitcoin price has stabilized on news of Britain leaving the European Union in a historically unprecedented move. The currency, which had corrected after a considerable price increase in recent weeks, has settled around the $650 range as global markets react to the news. If you recall the currency crisis in Cyprus, you might agree Bitcoin tends to thrive in moments of economic crisis such as Brexit. The 2013 Cypriot Financial Crisis and bailout led to a flurry of press coverage regarding Bitcoin. Similarly, during the Greek Debt Crisis, the media embraced the narrative that Bitcoin was....