China’s Central Bank now quarantining older bank notes to curb Corona-virus

posted about 2 months ago
Coronavirus has reduced the demand for restaurants, flights, hotels, and retail services in China, as using one of these could expose someone to Coronavirus. Many of these businesses have low cash reserves and are not receiving meaningful help from the government or bank lenders. Notably, last week, a high-ranking official of the People’s Bank of China revealed that China is quarantining old bank notes to curb the spread of Coronavirus, making bank runs a real threat in China.

Direct contact with physical cash, unlike Bitcoin, is presumed to spread the virus which has afflicted 79,360 people worldwide with 77,150 cases in China, with NBC News chief foreign correspondent Richard Engel reporting the confirmed number of cases may be higher than what’s being reported. It's worth noting, according to Dr. Susan Whittier, a clinical microbiologist at USA’s New York City Presbyterian Hospital, hard surfaces like physical coins or credit cards are more likely to transmit the virus than cash.
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