Coronavirus has improved Digital Currency Adoption

Despite being infamous and making people suffer, COVID-19 seems to have boosted the adoption of digital currencies globally.

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According to the European Central Bank (ECB) President, Christine Lagarde, the infamous COVID-19 has surprisingly yielded good results for digital currency adoption. It has in fact accelerated digital currency adoption which was observed in the European citizens’ pattern of spending.

A disaster for the world and a savior for the digital platforms

Due to the coronavirus pandemic, the need for digital contactless payments has surged according to ECB president as European have been using online platforms for shopping for food and other retail during the pandemic. She also adds that global payments have also rose dramatically since pandemic has pushed people to stay home and therefore, they would consequently do their tasks using online platforms.

The digitalization trend is surging now, it is improbable that it when the COVID-19 pandemic is over, the trend reverses.

According to a survey conducted in 17 of the European countries, the majority of the people consider carrying on with digital service as much as they are doing these days (the time of writing this article) or maybe more than this after the pandemic is over.

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