Cryptocurrency as Epidemiologically Safe Means of Transactions: Diminishing Risk of SARS-CoV-2 Spread

Abstract

In comparison with other respiratory viruses, the current COVID-19 pandemic’s rapid seizing the world can be attributed to indirect (contact) way of transmission of SARS-CoV-2 virus in addition to the regular airborne way. A significant part of indirect transmission is made through cash bank notes. SARS-CoV-2 remains on cash paper money for period around four times larger than influenza A virus and is absorbed by cash notes two and a half times more effectively than influenza A (our model). During the pandemic, cryptocurrencies have gained attractiveness as an “epidemiologically safe” means of transactions. On the basis of the authors’ gallop polls performed online with social networks users in 44 countries in 2020–2021 (the total number of clear responses after the set repair 32,115), around 14.7% of surveyed participants engaged in cryptocurrency-based transactions during the pandemic. This may be one of the reasons of significant rise of cryptocurrencies rates since mid-March 2020 till the end of 2021. The paper discusses the reasons for cryptocurrency attractiveness during the COVID-19 pandemic. Among them, there are fear of SARS-CoV-2 spread via cash contacts and the ability of the general population to mine cryptocurrencies. The article also provides a breakdown of the polled audience profile to determine the nationalities that have maximal level of trust to saving and transacting money as cryptocurrencies.

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