The Coronavirus crisis has transformed the world forever. Generating one of the greatest humanitarian and economic catastrophes of the last century. Something that has strongly impacted the crypto world, changing the dynamics that had been following the Immediate Bitcoin market until now. Thus, the cryptomoney magnate and founder of the Tron Foundation, Justin Sun, commented during the event for the third anniversary of Binance, that the COVID-19 has brought more decentralization to the world.
Is Bitcoin really decentralized?
The COVID-19 in the crypto world
For more than a hundred years, mankind has not faced a pandemic of the magnitude of the Coronavirus. In just seven months, the virus born in the city of Wuhan has infected millions of people around the world. Leaving a pitiful toll of thousands of deaths worldwide. A figure that threatens to rise in the face of what appears to be a second wave of the virus in the Western world.
A crisis that has also had repercussions in the economic field. For, in the absence of a vaccine for COVID-19, the only defence against the virus is social distancing. This is why most countries in the world have established strong quarantines within their territories, in an attempt to avoid an acceleration in the number of infections.
This, of course, has altered economic dynamics throughout the world. For some workers, quarantine has meant that they are unable to reach their jobs. For others, COVID-19 has brought with it a reorganization in the way they work. Leading, as Justin Sun commented during a panel at the „Off The Charts“ event, to a greater level of decentralization.
Something that has impacted even the crypto-currencies because, according to Justin Sun: „The biggest impact of COVID-19 on our business has been that everyone has had to decentralize. Management, our style of working, even I have had to decentralize.
Justin Sun declares victory of Tron 4.0 over Ethereum 2.0
Tron Targets Financial World
On the other hand, when asked about the strategy that the Tron Foundation would follow in the post-COVID-19 world. Justin Sun explained that his organization’s focus is on the financial world. Justin Sun explained that his organization’s focus is on the world of finance.
„Justin Sun explained that his organization’s focus is on the world of finance, and more specifically on achieving financial decentralization worldwide. Thus, products such as USDT, the Tron Blockchain-based stablecoin, would be part of this effort to enter the DeFi sector.
Justin Sun commented that COVID-19 has brought more decentralization to the world
Finally, when asked what, in his opinion, is the product of his organization with the brightest future. Justin Sun stated that it would be BitTorrent, an application that has long had a presence on the Internet. But that, with its acquisition by Sun, it will start to be increasingly integrated with Blockchain technology, being a pivot in the decentralization process promoted by Tron.