I think I do not like the Idea of every country having their own cryptocurrencies because this way it's nothing more than the Fiat itself , it is the same time , how are you going to achieve the idea of a Global Economy .
Do you really think it would be any different than having the shares made out for your own country and also cryptocurrencies are supposed to be unregulated so they are away from all the corruption and politics .
This is just the recipe for that .
Just my own take on this don't wanna offend anyone.
Topic: Countries and their own cryptocurrency! - page 7. (Read 1301 times)
I still wonder how the regulations will go. Because if one country makes their own stablecoin that means anyone else can follow the same rules and laws and make their own as well which can't be stopped because government did their own with their own rules and laws which means if they allow themselves to do it but won't allow others to do it with the same method, that would be a bit authoritarian and many countries in the world can't be like that since people would be disgruntled about it.
So in the end, they have to find a way to actually do it without making a stablecoin craze, put really hard rules against it that would be hard to replicate. There are private airlines for example but it is so hard to open one that usually governments have their own, it has to be like that.
So in the end, they have to find a way to actually do it without making a stablecoin craze, put really hard rules against it that would be hard to replicate. There are private airlines for example but it is so hard to open one that usually governments have their own, it has to be like that.
Quote from: https://coinsutra.com/national-cryptocurrencies/
Wondering why we need national cryptos?
Well, it is so because governments around the world don’t want to have decentralized currencies that are outside of their control.
Well, it is so because governments around the world don’t want to have decentralized currencies that are outside of their control.
Wow! And we've been thinking all this time that banks and governments have been very excited about creating of Bitcoin!
Of course, they don't want anything outside of their control, let alone money, but we are currently at the point when no one's going ask them, what do they want.
First they were ignoring it. Then they were laughing at it. Now they are trying to fight it by creating their own cryptos. Well, I trust Gandhi on this one. They will fail.
Like most users mentioned, soon China will be inculded in the list. I guess they would have been on it if not for the current health issues going on lately.
But then again, the issue of a country owning their own cryptocurrency kind sound somehow. Considering that there will be less autonomy and less decentralisation. Most governments knows they can't stop cryptocurrency instead they have to input their own.
China so far still excluded because they still didn't create their own crypto and indeed before corona virus outbreak china government was allocated money millions of dollar to develop blockchain technology and they seems really serious about it because they were hire the people who called blockchain expert for their project but seems this would be postponed project because currently china are more focus to healing people and eradicate corona virus But then again, the issue of a country owning their own cryptocurrency kind sound somehow. Considering that there will be less autonomy and less decentralisation. Most governments knows they can't stop cryptocurrency instead they have to input their own.
Like most users mentioned, soon China will be inculded in the list. I guess they would have been on it if not for the current health issues going on lately.
But then again, the issue of a country owning their own cryptocurrency kind sound somehow. Considering that there will be less autonomy and less decentralisation. Most governments knows they can't stop cryptocurrency instead they have to input their own.
But then again, the issue of a country owning their own cryptocurrency kind sound somehow. Considering that there will be less autonomy and less decentralisation. Most governments knows they can't stop cryptocurrency instead they have to input their own.
China is going to build one for themselves as well (even tho we don't know the name or what it will be like) that is missing from this list, and I personally feel like Libra will be american version, even if its not a governmental one, it is facebooks which is an american company and all of USA government will take a look at it very closely so it will have to be approved by the government, instead of likes USDT where it has absolutely no checks and balances.
So, that two will be HUGE in the future, even these small ones will not be looked at when those two comes out because all Chinese crypto people will start to use the Chinese stablecoin and all american people (and maybe a bit globally) will use Libra as well, these ones in the list combined won't have that power.
So, that two will be HUGE in the future, even these small ones will not be looked at when those two comes out because all Chinese crypto people will start to use the Chinese stablecoin and all american people (and maybe a bit globally) will use Libra as well, these ones in the list combined won't have that power.
Some countries have made their own cryptocurrency coins, this is actually good news for the cryptocurreny world.
So mass adoption works well, in fact our main goal is to make cryptocurrency faster growth and can be legalized
all over the world. The following countries will follow to make their own crypto coins of course china. After china I
hope other big countries can make their own crypto coins.So it can get closer to the main goal
So mass adoption works well, in fact our main goal is to make cryptocurrency faster growth and can be legalized
all over the world. The following countries will follow to make their own crypto coins of course china. After china I
hope other big countries can make their own crypto coins.So it can get closer to the main goal
It should be worth noting that as of this point, only Venezuela dared creating their own cryptocurrency from scratch, and have failed horrinbly just weeks after its launch date.
Governments are aware that what they would be launching may or not be supported by its citizens and the global economy. It's like launching new money out of thin air blatantly--but let's be real that they are doing this too sans actual cryptocurrencies. It would not be welcomed with arms wide open, but rather be bashed to death by non-believers and naysayers.
I'm pretty sure that there are also written laws within these countries' constitutions regarding the creation of a new currency system. It will undergo legal scrutiny and several senate and congress sessions before finally being accepted, and that's a long tedious process before a cryptocurrency from a state is born.
Governments are aware that what they would be launching may or not be supported by its citizens and the global economy. It's like launching new money out of thin air blatantly--but let's be real that they are doing this too sans actual cryptocurrencies. It would not be welcomed with arms wide open, but rather be bashed to death by non-believers and naysayers.
I'm pretty sure that there are also written laws within these countries' constitutions regarding the creation of a new currency system. It will undergo legal scrutiny and several senate and congress sessions before finally being accepted, and that's a long tedious process before a cryptocurrency from a state is born.
As far as I know, the printing of money is based on the gold reserve of a country. They will not be printing a lot of money that will exceed the value of the gold reserve of a country. Doing that will also be bad for the country. I think will still use fiat rather than the digital currency that they will be creating, I don't even think that it will be possible in our country.
China also planning to create their own centralized version of crypto currency in near future but do they really hold any reason o exist here?
Dubai's encash is more likely to be a digital financial instrument and not a cryptocurrency. It is simply having a digital wallet where you can convert your fiat money into a prepaid load that you can use for your transactions. Since it is a state-backed cryptocurrency, it has no difference with their country's fiat money. It has the same value.
Cryptoruble, on the other hand, isn't really supported by Putin. Having an interest in something doesn't mean its a good idea. The Russian government is still having their research so they would identify if cryptocurrency could be their advantage or not.
Cryptoruble, on the other hand, isn't really supported by Putin. Having an interest in something doesn't mean its a good idea. The Russian government is still having their research so they would identify if cryptocurrency could be their advantage or not.
I am not sure if the data presented is accurate. As pointed out already, Encash is not a cryptocurrency. J-coin, on the other hand, is not a cryptocurrency of Japan. If I am not mistaken, Japan does not have a state cryptocurrency yet, although it was studied and even recommended by their legislators as a reaction to China planning to launch their own digital Yuan. J-coin was a creation of a number of Japanese banks.
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.
Not a good idea to repeat the mistakes of fiat currencies in cyber world. But incase it happens, there definitely will be "neutral" digital currencies (cryptocurrency for example) people will fall back on when their countries become tyrannical, or start falling apart or when disasters strike or when evil/lawlessness/corruption reigns. That currency or currencies will most likely be well decentralized currencies/cryptocurrencies. 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.
1. Dubai (Encash)
As others have pointed out, not a cryptocurrency.
2. Venezuela (Petro)
A failed project that got nowhere.
3. Estonia (Estcoin)
Again, not a cryptocurrency
4. Russia (cryptoruble)
Nothing serious about it, just speculation.
5. Sweden (e-krona)
Again, no real plans about it.
6. Japan (j-coin)
Not a cryptocurrency again, and is not issued by the state but by a private bank.
So, bottom line, till now we're safe from countries throwing a real cryptocurrency on the markets.
As others have pointed out, not a cryptocurrency.
2. Venezuela (Petro)
A failed project that got nowhere.
3. Estonia (Estcoin)
Again, not a cryptocurrency
4. Russia (cryptoruble)
Nothing serious about it, just speculation.
5. Sweden (e-krona)
Again, no real plans about it.
6. Japan (j-coin)
Not a cryptocurrency again, and is not issued by the state but by a private bank.
So, bottom line, till now we're safe from countries throwing a real cryptocurrency on the markets.
It's always good to see some adoption ongoing how small it is. And knowing that these are states of themselves introduces cryptocurrencies to the world and various measures these states/countries are taking in ordee for their own coins to be usable and available at most times.
Japan could be a notable country among them since they are known for being in the top countries and adoption by them could make other pessimist giants like US and China to look into cryptocurrencies as well.
Japan could be a notable country among them since they are known for being in the top countries and adoption by them could make other pessimist giants like US and China to look into cryptocurrencies as well.
I think I agree that this is not a good idea.
Let's say that some country has its own cryptocurrency and if another country maybe a group of people wants to take that country down, they would just try to manipulate the cryptocurrencies they have. Just imagine the power of the whales when that happens.
and this is not impossible to happen as i think,because whale power can control even the most powerful currency Bitcoin then what More those money created by each countries?yeah this is very risky on this point but maybe there are some regulation that each of them can provide so they will not be abused in times like that?those currency has been around for quite now yet manipulation still not in effect.Let's say that some country has its own cryptocurrency and if another country maybe a group of people wants to take that country down, they would just try to manipulate the cryptocurrencies they have. Just imagine the power of the whales when that happens.
Whales are more active when they know a some conflicts about cryptocurrency. Some of them are just patiently waiting in the market until something happens. Each countries will experience conflict if the cryptocurrency they made is getting under the control of the whales and you have nothing to do with it because they have huge amount of money to invest. They are more likely to be a pests in the market that they don't give some chance to other to invest. They always manipulate the market no matter what currency or country they are in. So it is better to just focus on bitcoin, which is the world's famous cryptocurrency.
I think I agree that this is not a good idea.
Let's say that some country has its own cryptocurrency and if another country maybe a group of people wants to take that country down, they would just try to manipulate the cryptocurrencies they have. Just imagine the power of the whales when that happens.
and this is not impossible to happen as i think,because whale power can control even the most powerful currency Bitcoin then what More those money created by each countries?yeah this is very risky on this point but maybe there are some regulation that each of them can provide so they will not be abused in times like that?those currency has been around for quite now yet manipulation still not in effect. Let's say that some country has its own cryptocurrency and if another country maybe a group of people wants to take that country down, they would just try to manipulate the cryptocurrencies they have. Just imagine the power of the whales when that happens.
I am not sure if the data presented is accurate. As pointed out already, Encash is not a cryptocurrency. J-coin, on the other hand, is not a cryptocurrency of Japan. If I am not mistaken, Japan does not have a state cryptocurrency yet, although it was studied and even recommended by their legislators as a reaction to China planning to launch their own digital Yuan. J-coin was a creation of a number of Japanese banks.
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.
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.
Judging from the presented list, there are still very few national stable or digital currencies of states. In the near future, their number will increase sharply, whether we want it or not, since many states are now working on their release. The emergence of digital currencies of various states will have both positive and negative sides for a decentralized cryptocurrency. In any case, this will arouse people's interest in a decentralized cryptocurrency and will provide a good incentive for its further development. At the same time, the massive emergence of stable digital coins of states will divert the means of people to use them as a means of payment. I think that people will have significant trust in such currencies, especially in the digital currency of their state.
I think I agree that this is not a good idea.
Let's say that some country has its own cryptocurrency and if another country maybe a group of people wants to take that country down, they would just try to manipulate the cryptocurrencies they have. Just imagine the power of the whales when that happens.
Let's say that some country has its own cryptocurrency and if another country maybe a group of people wants to take that country down, they would just try to manipulate the cryptocurrencies they have. Just imagine the power of the whales when that happens.
What we want is actually not what the government want, by them have their own state-issued cryptocurrency they'll just be cannibalizing the market for the real cryptos out there, and the bad thing about them having their own cryptocurrency is their is a chance that they can be biased when it comes to their own cryptocurrency like what India is trying to do in their own market where they have unfavorable laws for crypto yet they are trying to launch their own crypto. We just want for us to see Bitcoin to be mass adapted in our country not our government countering it with their own cryptocurrency, this will just make things worst and confuse a lot of people on what crypto is really all about.
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