What can be pandemic proof economy to avert a future economic crisis?

We had a quite drastic year in terms of global economy shattering and worst public health crisis. Pandemic has made us think once again about our lifestyles and ways of getting things done. Capitalist economic values did not prove fruitful to the masses as big players laid off millions of employees collectively all around the world.

While we still have limited travel and outdoor movements, there is a dire need to come up with pandemic proof economic solutions. All this crisis exists because of the inability of people to move around safely and with severe losses incurred in recent months, the damage recovery process seems a bit long haul.

Now, we need our leaders and economic experts to implement long term solutions keeping any future possibilities of a pandemic.

The inability of authorities to respond timely against the recommendations of WHO was quite daunting. Let’s see some of the strategies and way that can lead to a pandemic proof economy.

Leading by technology

The only to ensure you go a long way without much hassle is through the latest technological adaptations. It has so much to offer in all fields of life. We often discuss technology and innovation but it is only seen and implemented at high to medium-sized entities. The spread is not uniform and the technological access rate is still not enough to justify its potential.

World leaders now have to ensure that access to technology and the internet becomes a basic provided right of each human being. This will open up vast opportunities and carries benefits for all the stakeholders. The prerequisites are quite big like literacy rates, costs of setup and maintenance, and many more but the only option that we have now is to go for this.

It is interesting to note how authorities were unable to even think about ensuring supplies if they would place any lockdown in any of the areas.

The capacity didn’t exist due to a lack of technological supports. When we are mentioning technology, we would mean the latest blockchain networking, artificial intelligence, machine learning, and incredible secure systems.

Due to the above mentioned technologies, the virtual economy and freelance markets have already taken up their desired massive roles. Bitcoin that was introduced in 2009 is now widely held and traded by the investors of the digital world.

The official website of Bitcoin Profit clearly exhibits the state of the usefulness of the latest technologies like smart algorithms and the ability to process a huge number of transactions in a given time is commendable.

It was on the agenda of the World Economic Forum to discuss the integration of traditional financial mediums with the online blockchain-based virtual economies. These platforms have become irresistible at the moment and now we are discussing their integration modes previously facing legal issues around the world.

Changing dynamics of global security environments

While the world powers were building upon their tangible security assets, biogenetic warfare was unaddressed. Along with genetic warfare, countries that will lead the world economy with the latest technology offerings and other aspects would become the world leader.

Take the 5G war between the US & China as a prime example Unipolarity is now challenged and it seems like we are moving towards multipolarity.

Leaders have to now shift their concerns towards unsurmountable health systems to ensure a future pandemic proof economy. Health systems do not have the capacity to attend anything beyond normal. Defense budgets need to be cut down to focus on the genetic and overall health immunity of the masses.

If we collectively work towards some of the areas and concerns highlighted, it can lead to integrated and organized world systems. The ability to track and trace the data of masses would become a possibility and for sure this should be the collective sustainability goals for the future global economic and health systems.