KANALCOIN NEWS – Currently the world is in a completely uncertain situation. The presence of the COVID-19 pandemic has indeed caused global panic, especially since this has come so unexpectedly. In just a matter of months, almost all lines of life were hit hard, especially in the economic field.
One of the most feared impacts to occur is of course the global recession where people’s purchasing power drops drastically so that the economy becomes paralyzed and even suspended. Currently, many companies have been forced out of business due to a significant decrease in revenue. This forced the company to terminate the employment relationship of its employees.
In this case, Ethereum as one of the leading technologies in the field of cryptocurrency is expected to play an important role in maintaining world economic stability. Of course what is meant here is the potential for a post-COVID-19 recession. How is Ethereum able to recover the world from the global recession? Let’s look at the following analysis.
Global Recession Potential
One thing that triggers a potential global recession is the fact that more and more countries are implementing a lockdown system. This has the potential to paralyze the country’s economy, especially from the tourism sector. The country can no longer rely on income from foreign tourists who come to visit. In fact, they do not allow anyone to easily enter and leave their territory.
One of the other sectors that was quite badly affected was the food and restaurant industry. The existence of the COVID-19 pandemic has made people afraid to leave the house. This of course paralyzes the economy and raises the potential for a global recession.
The role of Ethereum
Ethereum’s role is certainly expected to be even greater in helping to overcome the impact of a potential post-COVID-19 recession. Currently, more and more companies have adopted this technology, especially because they expect the characteristics of this technology, including being transparent and not vulnerable to theft.
This is of course inseparable from the function of blockchain technology which can open up new possibilities in the financial sector. As the technology continues to develop, the amount of Ethereum usage will also increase. This is because Ethereum is able to be a solution for those who want to start recording their assets in the form of a blockchain.
Along with the increasing number of uses of blockchain technology from time to time, it is only natural to make Ethereum a new hope for the world’s economy. And this number is predicted to increase in the future, so it is hoped that the circulation of money that occurs in this digital sphere will be able to stabilize global economic conditions, especially in the post-pandemic situation of COVID-19.