We’re living pretty hard financial times and not only, considering the global massive health crisis that will only be intensifying for the few upcoming months.
After the WHO declared a coronavirus pandemic, all hell broke loose, and people are panicking more with each passing day, not knowing what’s going on and how and when this will eventually pass.
The US President Donald Trump said that there are more restrictive measures implemented that will last for about two weeks for now.
Meanwhile, the crypto market is trying to recover following the massive Bitcoin crash from the past week.
Blockchain to transform the world
It’s been revealed that the head of developer relations at Ripple’s Xpring said that blockchain would transform the world of finance amidst these changing economic conditions.
In a new blog post, Warren Paul Anderson said that payments are the first use case for the emerging tech, and this is not the first time when this idea circulates in the financial space.
He also pointed out the economic crisis that we’re in as a potential catalyst for the rise of cryptos such as BTC, ETH, and XRP.
“We believe that blockchain technology is the deconstruction of finance, down to its core components, with payments being the first part through the implementation of cryptocurrencies such as BTC, ETH, and XRP,” he said.
He continued and explained that “As the world braces for change in global economic conditions, we believe that blockchain technology can serve as an integral tool for developers to put the pieces back together.”
You can check out more info on the subject in the original article by the Daily Hodl.
We also recommend that you check out the complete blog post we addressed above.
At the moment of writing this article, the crypto market is slowly recovering and the most important digital assets are trading in the green.
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