How the "covid - 19" and the global economic system affect Venezuelan households?
The current situation of "social and collective" quarantine amounts to more than 30 days since it began on March 17, apparently the measures will continue for several more weeks according to Venezuelan government authorities.
The education sector, through its highest authority, reported that the school year would end with the distance (online) study mode, so it urges all workers, teachers and administrative staff to stay at home.
Consequently, no student should approach educational institutions for the remainder of the school year.
This puts additional pressure on the education sector, which for several years has faced a significant decline in revenue due to high inflation in the country. In addition, the authorities are unaware of the commitments made to the sector in the collective hiring of workers, nor do they make the necessary adjustments to protect wages that evaporate due to high prices of food and basic services.
Economy based on blockchain technology
Most public workers support their economy with alternative jobs, the most common being the informal economy and with significant improvements online jobs are beginning to be a valuable option for workers in all sectors of the country.
On the other hand, the heads of families who support their economy with jobs based on blockchain technology face another challenge imposed by the situation of global alarm that has meant the covid - 19. This translates into a downward trend in prices, which reduces income.
The family economy of households around the world with a significant impact on Venezuelans is in a critical situation.
What do you think is going to happen to prices in the crypto market?
What does it mean that more and more people are protecting their economy with blockchain technology?
Is this whole situation a systematized plan to try to restore disaster to the old, worn-out world economic system?
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The economic downturn is a real problem for so many people in the world. It is going to take a long time to recover and I especially feel sorry for the countries who were already struggling even before covid-19.
I am hopeful that cryptocurrencies will still rebound. There has been a huge amount of investment in building out cryptocurrency and blockchain technology. We are so far advanced from where we were in the last bull run aligned to the last Bitcoin halving event.
It is very difficult to predict anything at the moment though as we are so much at the mercy of nature which is going to determine the path of the virus. Even when we are released from lockdown, I don't believe anyone knows what it really means and how long it may take to get back to normal. Some people are saying at least 1 year and who knows what impact that will have on cryptocurrency prices.
Certainly, these are crucial days that will mark out paths according to our attitudes. We must remain united to feel the consequences to a lesser extent.
I'm not an expert on economics, I'm just saying what's within my power. What I can say is that I am on the front line of working together to make things better.
I appreciate your comment.
I don't think anyone can claim to be an economics expert in these times. This is complete unprecedented and it will take years for the economy to fully recover.
I am ;P
The pandemic has affected so many people and people have had to adjust compulsorily to the situation, stay safe buddy
Yes. These are moments of reflection and correction.
@tipu curate
Upvoted 👌 (Mana: 0/4 - need recharge?)
Could this also mean that there will be a rush in academic calendar by the time the pandemic is over?
The school calendar in Venezuela will end with distance learning assignments. The calendar ends in June.
Dear @yonnathang
Interesting viewpoint at C-19 crsis. Thanks for sharing your thoughts.
Upvoted already,
Yours, Piotr