Series: How To Make Money From Home During And After The Pandemic

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April 27, 2020 by
Series: How To Make Money From Home During And After The Pandemic

As the world prepares for life after the Covid-19 pandemic, it is clear that a lot is going to change as to how we go about our day to day activities. One key area that is attracting attention is the economic restructuring that is likely to happen across various levels. The ripple effects of the pandemic have already been experienced by countries, corporate entities and individuals. Clearly, it is no longer going to be business as usual, hence a lot of people are thinking about how to make money from home during and after the pandemic.

In the private sector, there are already cases of downsizing and cutting down in the number of employees as companies struggle to survive the effects of the downturn. With falling prices of oil, there is panic as to how oil dependent economies like Nigeria can sustain the payment of salaries of civil servants. 

While these negative effects continue to grow, there is no doubt that new opportunities are also emerging. Remote operations and other elements of the pandemic are encouraging different kinds of solutions that enable the continued survival of humanity. Based on this, new businesses and other kinds of entrepreneurial opportunities are springing up that could lead the next economic revolution. A lot of these will surely revolve around how to make money from home during and after the pandemic.

Emerging Technologies Are Becoming More Relevant

One of the industries that is expected to thrive in this new era is the blockchain and cryptocurrency industry. The main reasons for this can be linked to its decentralized characteristics, and the possibility of individuals to operate effectively from a remote setting. This perfectly fits into the category of solutions that have to do with how to make money from home during and after the pandemic.

The CEO and Founder of Coinstream, Michael Vogel identifies the growing trend of people becoming more receptive to the possibilities around emerging technologies. He notes that with the world keen to find a solution to the global pandemic, these days everyone is more open-minded to new technologies that may be helpful to addressing the variety of pandemic-related issues. 

One particular development identified by Vogel is the IBM Blockchain which has been quick to offer solutions. The company has already offered its Rapid Supplier Connect network as a system for connecting buyers with vendors of emergency supplies. Notably, hospitals in New York have already joined this program. 

Also according to Vogel, the idea of distributed ledger technology is perfect for real time data sharing. Hence, entrepreneurs are launching blockchain apps that offer ways for health facilities and community organizations to quickly share and access data related patients exhibiting symptoms in a given location. This allows for communities to act quickly in reducing further transmission of the virus. “A blockchain network is a perfect medium for this”, he says.

Bitcoin Offers ‘Safe Haven’ Alternative For Investors

In the case of cryptocurrencies, the application is different as it addresses a more secondary issue from the fallout of the pandemic. So far, it is presenting itself as a suitable safety net towards escaping the inevitable economic crunch as a result of the pandemic.

Cryptocurrencies may not solve the health-side of the pandemic, but investors are looking towards cryptocurrencies like Bitcoin as a safe haven to hedge against potential economic fallout, says Vogel. 

As mentioned above, the signs of an impending economic meltdown are strong. In some cases, we have even started seeing the impact of the struggle. For instance, the Nigerian naira which traded around 357/$ ahead of the pandemic has lost some significant value. At the time of writing, the naira trades at 450/$ and is expected to even depreciate further in the near future.

Developments like this are already causing panic among citizens who are looking for alternative ways of preserving their wealth. To situations like this, Vogel explains that whether we find ourselves in a period of deflation or inflation, especially when there are economists with convincing arguments on both sides, Bitcoin (like gold) finds itself as a unique alternative that operates outside of the grip of the traditional financial system.

Time to Learn Some New Skills

Naturally, it is common to find investors simply transferring their wealth from a dwindling currency to those that are perceived to be more stable. Therefore, it is not a surprise to see the demand for Bitcoin increasing. Same applies to the increasing trend of new users trying to learn about crypto or enter the ecosystem. What about those who do not even have the wealth to transfer, but are looking for opportunities to start generating wealth? This category forms the nucleus of those seeking for how to make money from home during and after the pandemic.

Earlier in this article we mentioned entrepreneurs that are creating blockchain apps and other solutions for the present realities of our existence. Only a limited circle of users can afford this, since you must first of all acquire the basic knowledge of being a developer. Perhaps, this could be the time to think of acquiring some new skills and knowledge, especially if you fall into the category of those in the traditional industries that are being affected by the prevailing realities of today.

Perhaps, you may be considering a new line of career or another line of enterprise. While you plan and work towards this, there are already existing models that offer significant value with minimal investment in time and resources. These are entrepreneurial models that prior to this time have been designed by their parent models. They are more like plug and play programs that give you the opportunity to generate income even with the limitations and restrictions of the Covid-19 pandemic. 

In our subsequent series, we shall be analyzing these opportunities, giving details on how you can engage yourself in genuine and fruitful economic activities. These are programs that will enable you to navigate the turbulent Covid-19 pandemic era, and even the realities that follow. 

The global economic methodology has been altered and it is only those who are prepared and ready to embrace the evolution that will survive the hit. A lot of this will require the basic knowledge of how to make money from home during and after the pandemic.

 

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