Surge in Crypto Emergency App Downloads Due to COVID-19

Crypto-based emergency app Guardian Circle has seen an enormous surge in month-to-month downloads as a result of coronavirus disaster.

In keeping with figures equipped by the venture to Cointelegraph, greater than 5150 new customers downloaded the app in March. That represents month-to-month progress of 2582% for the three yr outdated app, which had struggled to draw consideration in peacetime. In January, just a little over 300 new users signed up.

However whereas the present disaster has seen the app’s recognition enhance, it’s additionally threatening the venture’s future.

What’s Guardian Circle?

The official website explains the app helps create a micro-economy round an emergency response in areas the place it’s wanted most. Features embody panic buttons, crash detection, voice interfaces and coronary heart charge displays,amongst others, enabling non-public safety and medical response to manage a geo-fenced service space as properly. Customers are incentivised with rewards within the cryptocurrency $GUARD.

Mark Jeffrey, co-founder and CEO of Guardian Circle, instructed Cointelegraph:

“Up till COVID-19, our advertising and marketing problem had all the time been: ‘How can we get customers to consider a future disaster state of affairs’? Folks don’t love fascinated about emergencies: it isn’t enjoyable. It is not ‘Phrases With Pals’ or ‘TikTok’. With COVID-19, that problem has now vanished.” 

Jeffrey mentioned that emergency apps should not used every day and so the cryptocurrency factor helps maintain it in customers’ minds: “The $GUARD crypto was a non-crisis-related-way to work together with our customers.”

However whereas the well being emergency has elevated downloads, the financial results of the disaster are threatening its viability. 

“As our runway has all the time been primarily based in crypto, our piles of Bitcoin and NEO have depleted in worth with the COVID-19 crashes. I’ve been supplementing company bills with my very own private cash to cowl prices. Backside line? We’ve about six months left as we’re proper now, barring any new curve balls thrown at us.”

Extra partnerships underway

Trying forward, Jeffrey mentioned the venture had discovered a associate, with whom they are going to signal a deal to run a mixed product, which is able to hopefully allow them to draw new enterprise capital curiosity.

On their customers’ geographic distribution, Jeffrey mentioned that one third are within the US, the remaining are scattered all through the world. Additionally, the app has excessive concentrations in India, Myanmar, Pakistan, Brazil, Egypt, and Iraq. 

Jeffrey believes that general the present disaster shall be constructive for cryptocurrency:

“The COVID-19 disaster is inflicting large pressure on the legacy banking system worldwide — far worse than the 2008 disaster.  This pressure has not but been felt by the typical individual, however will probably be within the coming months. At that time, we may even see a pointy enhance in utilization of Bitcoin as a retailer of worth. We may see different cryptos come into use for cash-like sooner, smaller funds.”

Different blockchain-based apps used within the midst of COVID-19 disaster

Cointelegraph reported on April 6 {that a} blockchain app known as “Civitas” has been launched by the Canada-based startup Emerge, which seems to be ahead to monitoring COVID-19 instances and it’s targeted in Latin America area.