There is little doubt that the economic cost of the coronavirus spread, will be significant. The below 100,000 infections number disclosed by China (February 2020) is undoubtedly conservative – the nation is known to have been secretive about everything from health hazards to political developments.
Glitzkoin Russian business strategist Milkhail Koslov is of the opinion that, ‘… there is unlikely to be any nation on the planet, that is not economically impacted by this serious health threat. Most nations have China involved in their supply chains for various industries. We know that dozens of large factories in China have been shut down. The objective is to reduce the spread of the coronavirus from person to person’.
Many nations have preferred to stop receiving visitors from countries that, are known to have a significant number of coronavirus infected patients. While some might consider this to be a drastic measure, it highlights the alarming level of fear that the infection has caused.
The losses that mount with the spread of the coronavirus, cannot always be denominated to dollars or profits and losses – there is a human element involved which is equally, if not even more important.
Medical facilities in many countries are below par. Government hospitals could be too few or be ill equipped to restrict and treat a contagious illness like a medium to widespread viral attack. Simply put this could mean that, large sections of people in these countries would probably not receive the attention that it takes to treat and cure a fast spreading health hazard. Government resources would be strained, this would force it to compromise on the quality of health care.
Glitzkoin CEO Navneet Goenka had some constructive advice for governments, ‘… it is time that nations spent more and planned their public health programs. The coronavirus threat came years after MERS and SARS caused havoc in many parts of the world but I doubt whether, medical facilities in many developing nations have significantly improved since then. A more concerted effort to handle health hazards like the coronavirus spread is desperately needed’.
So while we count the negative impact of the coronavirus it is important not to ignore the human element. It is the only way that national budgets will give importance to such situations. No one really wants to be faced with a serious epidemic but, we all know that the coronavirus is not the last serious threat to public health.
GLITZKOIN: Glitzkoin is developed on the Stellar blockchain. The project includes the multifaceted GTN token that currently trades actively on 3 crypto exchanges (Cointiger, Stellarport and Dobitrade). Glitzkoin makes a direct connect to the multibillion dollar diamond industry. The project is promoted by second generation diamond veteran Navneet Goenka, it aims to improve productivity and market scope for the glittering industry. A comprehensive diamond trading platform (DiaEx) is part of the project, it supports both B2B and B2C trade in diamonds. As mentioned above GTN is traded by crypto traders on three exchanges, it is also designated as the mode of payment on DiaEx.