Stablecoins – A Payment Alternative To Consider During This Pandemic

With the global crisis that we are in now, billions of people from every corner of the world are in danger of going through this crisis without any salary for a prolonged span of time. This is something that most could manage, seeing that many workers working full-time are living and surviving life from paycheck to paycheck.

Low APR Unsecured Loans to Make Ends Meet

To make ends meet, many individuals look for low apr unsecured loans. An Annual Percentage Rate or APR is the cost or price of credit shown as a yearly charge. Evaluating the APR of loans is a speedy way to identify which type of loan will possibly cost you greater, not including added fees like arrears. Whether your rate of interest is computed yearly, monthly, or daily, the APR presents a standardized manner of comparing and assessing the interest rates on various loans. The Truth in Lending Act necessitates creditors to let consumers know of the APR of your loan deals.

Stablecoins or Cryptocurrencies –An Alternative to Consider

Amidst the trepidation and insecurity of the coronavirus pandemic, the government of the United States is exploring and analyzing ways to assist Americans financially the soonest possible time, even deliberating on the probability of a universal payment of basic income.

People require help, but also have to remain at home to lessen and prevent the risk of picking up and falling victim to the virus. In providing emergency payments, the administration must be aware and mindful of the dangers of asking individuals to collect money at any physical location such as banks and ATMs. It must be delivered in a manner that’s efficient, accessible and most importantly sterile.

For haste and safety, the government must be open to modern approaches to replace the outmoded method of issuing checks through mail. So why not look into the possibility of sending or delivering the stimulus through stablecoins or cryptocurrency as an avenue to validate the transfer of assets? Since stablecoins could be digitally distributed, people would have direct and instant access to their finances, lessening the need for people to go and spend hours in the bank to cash a check and to not break away from the self-imposed quarantine.

Since digital assets are relatively new and unknown beyond the space and community of cryptocurrency, a number of  resistance or criticism to this concept are expected.

A shortage or absence of knowledge and comprehension frequently translates to doubt and distrust. Education must go along with distribution. The government as well as the citizens would have to be properly educated on the workings of crpytocurreny or stablecoins, how crypto users convert them to fiat money, and why they can potentially easily carry out money transfers in the future.

Posted by Alise Bella