During Covid-19, Keep An Eye on Your Wallet Too
As we try our best to ride out this storm while looking out for one another, we’d also like to remind you to keep an eye on your wallet — but not for the reasons you may think.
In fact, during this period of time, it is best not to even use your wallet at all and to minimise touching it, mainly to protect yourself and everyone around you from the virus.
It Has Gone Everywhere Without Going Anywhere
Imagine the day in the life of a banknote before it ends up in your wallet. It would have been in the hands and pockets of food vendors, motorbike taxi drivers, healthcare workers, bankers and could have even spent some time in places you would never imagine — but the problem is you don’t know where it has been and who has touched it.
According to the World Health Organisation (WHO), the coronavirus that causes covid-19 is highly infectious. The coronavirus, also known by its scientific name, SARS-COV-2, is also able to survive and remain contagious on common surfaces like handles and knobs for up to 9 days.
Another common surface all of us own and currently need, banknotes, have also been identified by the WHO to be potentially harbouring the pathogen. It may seem like an almost ridiculous possibility but countries like China and South Korea have already started taking measures to disinfect their banknotes using ultraviolet light or high heat.
For more detailed information on the survivability of coronaviruses on various surface materials, you may refer to this medical journal.
Does This Mean Traditional Banknotes Are Unsafe?
The WHO have recommended that people switch to contactless payment options for their transactions to minimise the spread of the disease that’s starting to run rampant in many countries around the world.
Although there have not been any publicised cases regarding outbreaks or clusters involving banknotes, it is still a possibility and prevention is always better than cure.
This also means there is a much higher need now, more than ever, for a much more viable and safer alternative for traditional banknotes.
Most banks have already digitised their systems, allowing customers to make transactions and transfers using just their mobile phones but going a step further, would it be wise to put all your eggs in one basket?
Don’t Rely on Just One
This pandemic is changing the world as we know it. Everything that we have known and have been used to are now forced to either close, or change. As a result, the fear and uncertainty caused by all these are also wreaking havoc on the global economy.
However, looking at it in a negative light will help nobody, instead, we should look at it as a new beginning. How do we improve on the current banking system and better protect our own assets?
Better yet, how do we evolve from here?
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