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Covid Drove Us Into Digitization & Crypto | Freewrite Weekend 16-05-21

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Working from home is the dream of many. It's boring, but it's great! You get the freedom to choose to manage your own time. How to spend it in the most efficient way to make the most out of it, is up to you. The 'digital economy' is growing fast and there are multiple opportunities available for all kinds of people. For example, Hive is such a place that is perfect for almost everyone. Individuals & Businesses both! I can predict a future where every existing being or a group of individuals has a Hive account. You have the power to access a plethora of options through your device & the internet connection.

No thanks, but thanks to the pandemic we now see the world changing for better or worse. Everything's going online! We are witnessing a paradigm shift that will create open, trustless, and permissionless internet through Web 3.0 technology. Governments who couldn't update their systems for years had to convert them entirely within a few months. Both mobile applications and social media played a huge role in dealing with the crisis. We have seen more digital transformation happening in the past year due to this.

Last week I attended a marriage ceremony through a Youtube Live session!! And I have also attended funerals on Zoom calls since the Covid situation is so bad in India. We cannot meet our loved ones without risking each other lives. We get to meet through video calls & messages!

During covid, many people lost their jobs and their major sources of income. Unemployment is at an all-time high in most parts of the world. Brick and mortar businesses, especially the retail sector have failed to make sales and enough profits unless they serve the "Essential Needs" market. Prior to Covid, it was predicted that a global financial crisis is upcoming. Banks in my own country have shut down or merged because they failed to manage their debt & expenses. People are now seeing the benefits of decentralized networks. They realize how crypto can provide them a sustainable source of revenue. With new technology, new opportunities arise.

With DeFi coming into play, we can now use our money to make more money with better ROI. Blockchain has replaced third parties with code and automated everything for us. Thank you Blockchain! ๐Ÿ˜‹ The commission or tax they used to take is now shared with all the stakeholders involved. Just imagine earning interest on your crypto as we have on Hive. Why would anyone put their money in the bank and let it rot?

Artists can now sell their Physical or Digital Art through NFTs without losing the rights but sharing it with other HODLers. Content creators now have decentralizated and censorship resistant platforms that would pay in crypto to both creators and readers/viewers. It's also providing a way to do instant & transparent charities like Vitalik did a few days ago to support the Indian Crypto Covid relief fund. Memecoins saving us! โœŒ

Even the non-crypto use of the underlying Blockchain Technology is developed all over the world. It's a registry system that fits into all kinds of domains - Healthcare, Real Estate, Education, Logistics, Digital Media, Marketing, Cybersecurity, Smart Contracts, Governance you name it.

This crisis tends to accelerate the growth of the cryptocurrency sector and development through Web 3.0 Technologies. Institutional adoption started way before the pandemic. Right now, most of the people sitting from their homes are cashing out on this opportunity. Covid has diverted the Crypto trajectory a little upwards which was going up anyway. It's still not too late though!



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