Countries and their own cryptocurrency! - page 5.

Janation

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Quote from: Xampeuu on February 22, 2020, 01:41:29 PM

Quote from: fortunecrypto on February 22, 2020, 06:25:52 AM

Countries with their own Cryptocurrency is going to be the next big trend in the industry because of the massive adoption and promotion ongoing right now,once two or three of these coins become a huge success, expect other countries to follow their leads, we will see many countries creating their own and that could give the top Cryptos a good competition in the market.

indeed it takes the first step of a country to make their own coins. moreover it is done by developed countries, they have extensive networks with other countries, so this will have an impact to transmit crypto to other countries to make their own coins. and in the end the coin can become a currency for exchange. although I think it still takes a long time

It will be added to exchanges but I don't think it will be that big thing.

Made by the government, they would be backed up by the fiat of their country. It is not something like cryptocurrencies that we know where it is sold on exchanges. It will be based on the fiats, the good thing here is just that they are using a digital currency that will popularize Bitcoin to be used in the future.

verita1

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The Venezuelan government launches Petro in order to improve the economic situation that the country is going through. But it has not been successful due to many factors including lack of trust. Merchants have not joined President Maduro's call for adoption.

The price of Petro is at $ 60. In the authorized exchange plataforms for its commercialization, users say that its price is below between 30 and 40%.

More detail about Petro in this article.
https://www.google.com/amp/s/es.cointelegraph.com/news/how-to-buy-petro/amp

FlightyPouch

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Quote from: metenjean on February 19, 2020, 12:58:40 PM

Some country like for creating their own coin than use what have ready before in bitcoin and altcoin market, look many countries want to get much profit with cryptocurrency world by creating their own coin.

What do you mean? Obviously this is backed up by their country's fiat or other assets in their country. It is not something that they created, make a whitepaper and start an ICO in the market. No, this is different. They will not be earning any of it because of the coin, they are just adapting to these digital currencies and I think you should be happy about it since it can strat the world without physical currencies, though that will be a long year ahead of it.

Averim

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The main problem of Governments related to cryptocurrency is the following fact: crypto is a private financial product with a huge influence and they want to control it. If the crypto coin is launched by govermanentalș institute then it is ok, but there is a private project that all are against it.

Ozero

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Quote from: micallco on February 22, 2020, 06:11:00 AM

I think that those countries that began to use their own cryptocurrency simply do not want someone else's power from the outside if some other side controls Bitcoin. But, I do not think that local cryptocurrencies enjoy at least some success with the citizens of these countries. Without the tough propaganda of the local cryptocurrency - no one will use them just like that. And I don't see countries somehow promoting their own cryptocurrencies at the moment.

States are simply in no hurry to create their own national cryptocurrencies. The financial system does not like rush. Moreover, cryptocurrency is a completely new phenomenon and it is not so easy to find good specialists to avoid possible mistakes. However, many states are now working on the issue of their national stable coins and they will soon appear in large numbers. I think that in general it will be nice, including for a decentralized cryptocurrency. However, there will be fierce competition between the stable coins of states and a decentralized cryptocurrency in the quality of their use as a means of payment.

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Quote from: fortunecrypto on February 22, 2020, 06:25:52 AM

Countries with their own Cryptocurrency is going to be the next big trend in the industry because of the massive adoption and promotion ongoing right now,once two or three of these coins become a huge success, expect other countries to follow their leads, we will see many countries creating their own and that could give the top Cryptos a good competition in the market.

indeed it takes the first step of a country to make their own coins. moreover it is done by developed countries, they have extensive networks with other countries, so this will have an impact to transmit crypto to other countries to make their own coins. and in the end the coin can become a currency for exchange. although I think it still takes a long time

fortunecrypto

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Countries with their own Cryptocurrency is going to be the next big trend in the industry because of the massive adoption and promotion ongoing right now,once two or three of these coins become a huge success, expect other countries to follow their leads, we will see many countries creating their own and that could give the top Cryptos a good competition in the market.

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Quote from: enhu on February 21, 2020, 01:09:21 PM

I have read e-krona is already in the test stage in Sweden, I think I read it in cointelegraph yesterday. Interesting because they are doing it already when most are expecting China to be doing it this year as well. Its rest assured all other countries will follow if this is going to be a success for them. Exciting days ahead when these digital fiats are also accepted by crypto exchanges when we buy BTC.

indeed all countries can implement cryptocurrency to conduct trade transactions using cryptocurrency but at present it cannot be implemented for all countries because there are still some countries that have not yet received the use of cryptocurreny.

I'm sure cryptocurrency can be the best alternative for making transactions over long distances because it will be more efficient and safer.

micallco

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I think that those countries that began to use their own cryptocurrency simply do not want someone else's power from the outside if some other side controls Bitcoin. But, I do not think that local cryptocurrencies enjoy at least some success with the citizens of these countries. Without the tough propaganda of the local cryptocurrency - no one will use them just like that. And I don't see countries somehow promoting their own cryptocurrencies at the moment.

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Quote from: Debonaire217 on February 21, 2020, 05:49:18 AM

I wonder what Philippine cryptocurrency should be, when the government decides to have one too, I think it could be better to have "Rizal" named after the national hero of the Phils.

Though, the inclusion of cryptocurrency for a country isn't really helpful as they migrating the fiat currency to a whole new level which needs allot of adjustments. In addition, whenever a country wants to add cryptocurrency as its official crypto, it should be regulated which is somehow not aligned to the characteristic that cryptocurrency has.

Indeed crypto will lose its sole definition and countries that is in the same line like philippines can't really maximize the usage of the digital currency even its been regulated in the country for not all of people in a country has access to technology to manage their cryptocurrency or digital currency so yes you are right this will really not helpful for now because the adjustments we are going to make is bigger than you imagine.

enhu

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I have read e-krona is already in the test stage in Sweden, I think I read it in cointelegraph yesterday. Interesting because they are doing it already when most are expecting China to be doing it this year as well. Its rest assured all other countries will follow if this is going to be a success for them. Exciting days ahead when these digital fiats are also accepted by crypto exchanges when we buy BTC.

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Quote from: ethereumhunter on February 21, 2020, 07:28:32 AM

I think that can be possible to happen if every country will accept cryptocurrency. Besides that, every government can learn about crypto because without having enough knowledge about cryptocurrency, they cannot create their own coin. With the developing of technology, we might see a big chance in the transaction furthermore about digital currencies which are already happening in many countries. The government will make new regulation about cryptocurrency because their coins will be used as another option besides of other coins.

What you are talking about is not true. There are methods thanks to which the creation of a coin occurs within 10 minutes.

Another question is whether you can correctly model the management scenario, thanks to which the coin will become one level with the leading coins on the market.
It is much more profitable for states to create their own coin and distribute it to all other states in order to gain more influence.

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Quote from: justdimin on February 20, 2020, 01:33:27 PM

The problem when the national currencies arise would be more about regulations than anything else. Just to give an example banks have a bigger power over the monetary system than they should, why bitcoin was created was to stop this overpowering and making sure that everyone is equal when it comes to money and finances.

Now, if the nations build their own stablecoins that would be great and be better than all the ones we have but if they do not regulate it properly they could literally use all the money they printed out of thin air to buy crypto and basically corner the market themselves. Think of USA and China having a centralized exchange? That would basically mean end of the world because they could collect like millions of bitcoin and even more altcoins all on their storage and they could simply delete them all and ruin crypto world.

The good thing I am thinking about this is that cryptocurrency will be known all over the country and that makes the cryptocurrency being adopted by a particular country. And the other side or bad thing about this is to the one who is using it, although it can make their transaction faster and safer that way, the government can collect some taxes maybe if that happens. It can make cryptocurrency in a particular country be centralized because they can regulate it whenever or whatever they want.

Quote from: ethereumhunter on February 21, 2020, 07:28:32 AM

I think that can be possible to happen if every country will accept cryptocurrency. Besides that, every government can learn about crypto because without having enough knowledge about cryptocurrency, they cannot create their own coin. With the developing of technology, we might see a big chance in the transaction furthermore about digital currencies which are already happening in many countries. The government will make new regulation about cryptocurrency because their coins will be used as another option besides of other coins.

Indeed, it is not possible as of now because as of today cryptocurrency is still banned from some other countries with their own reasons to regulate it. But if they actually legalize cryptocurrency, the community itself will rise and so do to the price of the market itself maybe.

ethereumhunter

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I think that can be possible to happen if every country will accept cryptocurrency. Besides that, every government can learn about crypto because without having enough knowledge about cryptocurrency, they cannot create their own coin. With the developing of technology, we might see a big chance in the transaction furthermore about digital currencies which are already happening in many countries. The government will make new regulation about cryptocurrency because their coins will be used as another option besides of other coins.

Debonaire217

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I wonder what Philippine cryptocurrency should be, when the government decides to have one too, I think it could be better to have "Rizal" named after the national hero of the Phils.

Though, the inclusion of cryptocurrency for a country isn't really helpful as they migrating the fiat currency to a whole new level which needs allot of adjustments. In addition, whenever a country wants to add cryptocurrency as its official crypto, it should be regulated which is somehow not aligned to the characteristic that cryptocurrency has.

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Quote from: Bohxz M4p4gm4h4l25 on February 21, 2020, 03:25:21 AM

Quote from: Darker45 on February 13, 2020, 01:49:19 AM

Countries going digital with their fiat is a normal shift because the age is already digital. Hard cash is not anymore the way to go in the future. For sure, the time will come when each and every country in the world will issue their own digital currency.

This was absolutely possible. Maybe in the future we will all be using digital currency because of its convenience and fast transactions. This is something that can benefit us so I think these will be supported as the time it will propose by every other countries.
In this matter, crypto has its place in the future especially the blockchain technology.

Digital currency is absolutely convenient because of it's fast transaction, but i don't think not everyone in this world has the ability to have their own digital currency because having a physical money is still the safest way for them and it is much comfortable to store it on your own, that is why you can't push that everyone will be using digital currency in the future.

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Quote from: plvbob0070 on February 12, 2020, 12:17:55 PM

...Here are the list of countries with their own cryptocurrency...

I don't understand why Tunisia was not included in this list? Tunisia became the first country in the world to issue a national currency based on a blockchain called eDinar, also known as Digicash or BitDinar. This happened in 2015. https://cointelegraph.com/news/cbdcs-of-the-world-the-benefits-and-drawbacks-of-national-cryptos-according-to-different-jurisdictions
To date, more than 60 countries have already announced the start of work on their national digital currency.

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Quote from: Darker45 on February 13, 2020, 01:49:19 AM

Countries going digital with their fiat is a normal shift because the age is already digital. Hard cash is not anymore the way to go in the future. For sure, the time will come when each and every country in the world will issue their own digital currency.

This was absolutely possible. Maybe in the future we will all be using digital currency because of its convenience and fast transactions. This is something that can benefit us so I think these will be supported as the time it will propose by every other countries.
In this matter, crypto has its place in the future especially the blockchain technology.

justdimin

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The problem when the national currencies arise would be more about regulations than anything else. Just to give an example banks have a bigger power over the monetary system than they should, why bitcoin was created was to stop this overpowering and making sure that everyone is equal when it comes to money and finances.

Now, if the nations build their own stablecoins that would be great and be better than all the ones we have but if they do not regulate it properly they could literally use all the money they printed out of thin air to buy crypto and basically corner the market themselves. Think of USA and China having a centralized exchange? That would basically mean end of the world because they could collect like millions of bitcoin and even more altcoins all on their storage and they could simply delete them all and ruin crypto world.

Moshaid

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This coin so far has proven to be of great purpose with huge investment and government policy backing it. Although it might have it disadvantages at some certain point among which might result to economy attack but the advantages surrounding it is quite huge for the blockchain growth in such country and the global cryptocurrency market. Moving forward it would serve as a big impact if more countries first recognise the usage of bitcoin and its economic importance then they can be looking into owning their country cryptocurrency.

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