China isolate cash to prevent corona virus, Bitcoin will be the solution?

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One report recently showed that China has begun to implement a plan to isolate the used paper money to try to prevent the spread of corona virus (COVID-19). Meanwhile, the cryptocurrency community has begun to receive news that using Bitcoin as a means of payment will solve this problem.

Outbreak of disease

Hubei Province, where Wuhan's capital is located, has seen a spike in nearly 15,000 new infections and 242 new deaths in just 24 hours after the provincial government changed its diagnostic method on 2/13. Dovey Wan - founding partner of Primitive Crypto, declare on Twitter today that the government is underestimating this number.

A recent BBC report said 2009 new infections and 142 deaths. According to data Officially, the total number of people infected with COVID-19 worldwide is over 68,000, and the number of deaths is 1,665.

Effect on the cryptocurrency market

Cryptocurrency mining farms in China are supposed to be closed due to the outbreak of COVID-19, but that seems to have little or no effect on the Bitcoin network's (BTC) hash rate. The network still seems to be working very strongly as the hash rate continues to rise.

Mati Greenspan - founder of Quantum Economics, told CoinTelegraph that it's hard to estimate the impact on the market right now, “How it will affect Bitcoin price, I really can't tell you. Currently, I don't feel that way. ” A spokesman for hardware manufacturer mining B vitamins said they found no impact at all.

The birth of CoronaCoin

While the crypto community is speculating on Twitter whether Bitcoin can be the solution to the spread of viruses through paper money, an ERC-20 corona-coin (NCOV) is based on Virus. corona was launched under one post on Reddit. According to the website, its goal is to promote awareness of this virus outbreak.

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According to CoinTelegraph
Translated by ToiYeuBitcoin


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