Effect of Coronavirus on Currency

China has declared that they’re going to be cleaning banknotes. The government has declared over the weekend that it’ll be separating decree transfer across Chinese regions. It’ll even be sanitizing the banknotes from unsafe areas. This can be a new measure to manage the spread of the Coronavirus. With this, Bitcoin’s decentralization, permissionless and digital attributes have commenced as a very important element of the new government measures.

According to CNBC, the People’s Bank of China organized to assign nearly 600 billion yuan(¥) ($86 billion) of the latest banknotes to the country.

The Central Bank’s deputy governor announced that “Money from key virus-hit areas will be sanitized with ultraviolet rays or heated and locked up for a minimum of fourteen days before it is distributed again”.