The World Economic Forum warned as early as March 2019, that the world should prepare for a COVID-like global cyber pandemic that will spread faster and further than a biological virus, with an equal or greater economic impact.
It is important to pay attention to this warning, issued by the World Economic Forum, regarding the entire globe’s economic system.
Another key reason to pay attention to the WEF is that they warned about a COVID-like virus in 2019, months before the virus actually broke out in China.
According to the WEF’s website, they are an independent international organization committed to improve the state of the world. The WEF attempts to make the world a better place through research undertaken by their highly qualified staff and from input provided by governments, central banks and the WEF’s partners.
World Economic Forum Research
We have noticed even before that, for example, in the WEF’s annual report for 2018, that they started to foresee the possibility of a devastating, biological virus, which could severely disrupt the global economic system and cause financial chaos.
This doesn’t necessarily mean that the WEF will be right with their research findings. Nevertheless, the COVID-19 pandemic with its absolutely destructive financial consequences, teaches us that we should be ready at all times for any event, that can destroy your finances.
What could a global cyber pandemic entail?
Obviously, if we want to protect ourselves against any danger, we have to understand what the nature of that danger is.
According to Google, the word cyber denotes a relationship with information technology. It can relate to all aspects of computing, including data storage, protecting data, accessing data, processing data, transmitting data and linking data.
On our smart phones and computers, we should use our common sense to protect our finances, for example, safeguard our passwords and pin numbers; regularly back up files to the cloud, computer hard drives and memory sticks.
There is not much that most people can do to protect themselves against dangers that occur elsewhere in connection with the following,
- Storing our data in the cloud, at a bank or on social media;
- Protecting that data;
- Accessing that data;
- Processing that data;
- Transmitting that data; and
- Linking that data
Many of these services are provided by major technology companies, such as:
- Facebook; and Apple,
But even these systems don’t make these companies immune to a virus attack. A virus on a personal or business computer could be devastating.
However, a cyber virus attack could cause a lockdown of the Internet, either in one country or in many countries simultaneously, which could lead to tremendous widespread financial devastation.
It is possible for governments to close down the Internet, entirely by ordering Internet Service Providers to restrict access to the Web.
Will governments ever do this? If they are advised to do so by an organization, such as the International Monetary Fund.
What form can a cyber-attack take?
Apart from the Internet being closed down by governments, the withdrawal of cash at ATM’s could be forbidden for a period of time, for example, for a week, a month or longer.
Remember, governments had no problem closing restaurants, gyms, churches and sports venues for many months in 2020. They will also not have a problem closing down the Internet or restricting the amount of cash that you will be allowed to withdraw, due to a cyber virus attack.
How to protect yourself against a cyber pandemic
Obviously, gold will play an important role in protecting your finances. But there’s also a must have asset that’s easy to acquire, however big or small it may be. That asset is a cryptocurrency.
Don’t panic for now, but don’t sit back and wit for disaster to happen, be proactive not reactive