The U.S. has been going paperless for years in an attempt to reduce waste. From paperless billing, paperless applications, etc..., a reduction of paper consumption was necessary and inevitable with the invention of the internet. COVID-19 is speeding the transformation to a paperless economy utilizing current technological advances.
B.C and A.C.
A good friend of mine defined the evolution we are experiencing as a paradigm shift. Which we once thought would happen at the turn of the century (Y2K) has instead arrived 20 years later. It is 2020 A.C. (After Coronavirus) and hand to hand contact is a thing of the past. The survival of this new world requires contactless transactions and virtual connections. Zoom Telecommunications, Amazon, Netflix, Microsoft, Door Dash and others in the tech industry have either already had the tools or quickly created innovative technology to fill new needs.
USDC or US Dollar Digital Coin
Did you know that the US now has its own cryptocurrency? Bitcoin watch out! The recent United States stimulus bill, Cares Act, providing $1200 direct deposits to millions of Americans also introduced a new digital coin. Didn't know that did you? Well, the USDC is a stable coin or in other words, a cryptocurrency that is equivalent to one U.S. Dollar without fluctuating in value. This coin yields a 15% APY paid out monthly.
Here's my referral link for Coinbase. Get $10 in free Bitcoin when you buy or sell $100 or more: coinbase.com/join/shumpe_a?src=ios-shareChina and Russia among many other countries have followed suit and began to introduced legislation of their own cryptocurrency.
A Coin Shortage?...
Or maybe it is just the Federal Reserve reducing its production of coins. We've heard for years that many have petitioned to take pennies out of circulation. Look down, I'll wait... Did you find a penny? Coinage has become disposable to many Americans and rightfully so, as most people carry under $100 in cash at a time and mostly credit or debit cards. Millennials are even more tech-savvy and are equipped with virtual wallets.
What should you do?
Buy Bitcoin!!! Buy Ripple!! Buy Etherium! Wait what hunh? I've been talking about USDC, yes, that is a good investment too, but let's dig deeper. The most important takeaway is that these new digital coins are to rival Bitcoin because cryptocurrency is here to stay. As the first market entrant, Bitcoin has a huge advantage of profitability and the increase in value makes for a great investment in the very lucrative crypto market.
The dollar is plummeting amid the pandemic, yet Bitcoin and precious metals such as Gold are on the rise in value. Investors feel safe in crypto similar to Gold. Need I say more?
Everyone wants a piece of the pie. This time it's not the American pie, it's global.
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