Countries testing digital assets in 2020 - page 7.

shoreno

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Quote from: bitcampaign on December 03, 2019, 03:14:38 AM

I hope my country is included in the list to be one of the countries that also want to test digital assets next year, even though I know my country is a lagging country, but the issue of digital payments has spread in my country, digital payments here do not use blockchain technology so I doubting its safety, maybe with this the government in my country wants to test digital assets in the next year using blockchain technology

what country your living with ? the country listed by the op were only few and i doubt that your country is in on its list but dont be sad because those lists were only few of the countries that will test cryptos by 2020 because if we can only take a research on the net we will see that there are many countries that are planning the same thing . you said your country already use digital payments ? so there was a big possiblity that they will upgrade the use of it and will add crypto on thier service .

bitcampaign

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I hope my country is included in the list to be one of the countries that also want to test digital assets next year, even though I know my country is a lagging country, but the issue of digital payments has spread in my country, digital payments here do not use blockchain technology so I doubting its safety, maybe with this the government in my country wants to test digital assets in the next year using blockchain technology

meliodas

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Quote from: JeffBrad12 on December 02, 2019, 06:09:30 PM

Quote from: Brunus on December 01, 2019, 04:32:08 PM

If the states begin to accept the idea of the crypto, it means that they have found a way to control it and - above all - to tax it.
They will probably use threats and violence as usual.
But I think that with a little attention, those who don't want to be known can enjoy freedom for a while yet.

If the digital asset they are about to release is centralized im pretty sure they will have the authority to control it and taxing it is just another small matter. It will just become another centralized coin that are just using blockchain system for gimmick because they don't want to get left behind because blockchain has become the trend meanwhile it's no different than any centralized payment method that digitalise cash. but the whole thing is still on experimental phase and I doubt it will get to another phase.

That is their main goal, they don't want to see a lot of people that are relying on a decentralized system so as soon as possible, they are creating their own blockchain system so they can have the control and so there will be no chance for them to be left behind. At the end of the day, it always depend to the people on how they are going to use the different resources around them.

boris singer

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I think China will implement it first because until this year they are very serious in preparing the business foundation connected to the blockchain, their testing step will be quick because they only need to connect DCEP with Alibaba and other ready companies.

Also don't forget about the digital lira (turkey), news about them has been circulating since early November and will reportedly start testing in late 2020.

JeffBrad12

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Quote from: Brunus on December 01, 2019, 04:32:08 PM

If the states begin to accept the idea of the crypto, it means that they have found a way to control it and - above all - to tax it.
They will probably use threats and violence as usual.
But I think that with a little attention, those who don't want to be known can enjoy freedom for a while yet.

If the digital asset they are about to release is centralized im pretty sure they will have the authority to control it and taxing it is just another small matter. It will just become another centralized coin that are just using blockchain system for gimmick because they don't want to get left behind because blockchain has become the trend meanwhile it's no different than any centralized payment method that digitalise cash. but the whole thing is still on experimental phase and I doubt it will get to another phase.

InvoKing

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State backed cryptocurrencies or FIAT stored in banks used by credit cards, what's the difference? Blockchain implement? Great but that's not the point of having a cryptocurrency AFAIK!
Manipulation of its value will be very important and exaggerated...

bitbunnny

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This is actually nothing new. Countries, especialy their central banks and other financial institutions are experimenting with cryptocurrencies for a while. They are also preparing a packages of regulation and that all together should prepare them to formaly introduce cryptocurrencies into system. The way how is this going to happen is still not known but many countries have decided not to ignore cryptocurrencies anymore.

gentlemand

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Quote from: JessicaVL on November 28, 2019, 04:09:31 AM

Canada.
Although the Canadian government has not publicly announced that they are testing a state-backed cryptocurrency, the Canadian central has expressed interest in potentially issuing a digital asset controlled by the Central Bank which acts as a digital version of the Canadian Dollar. In July 2018, the Canadian Central Bank conducted a study called the “Central Bank Digital Currency and Monetary Policy” which highlighted the potential benefits of a state-backed digital asset.

Canada came up with Mintchip and abandoned the idea in 2014 or so. I wonder what's changed.

If any of these come about the case for crypto will be several times stronger. The grip they'll have over your money will be far, far tighter with a governmentcoin than the current lash up of a system.

drlukacs

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In fact, it's normal for many countries to experiment with different types of businesses in the crypto market. As you can see, there are many such businesses in the market but they are completely shitcoin and there is no sign of growth. Therefore, I think that these guidelines are not having a positive effect on the crypto market. it only yielded a result that entrepreneurs are curious about blockchain technology in this market, and it has no intention of increasing business value here. do you think so ?

Brunus

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If the states begin to accept the idea of the crypto, it means that they have found a way to control it and - above all - to tax it.
They will probably use threats and violence as usual.
But I think that with a little attention, those who don't want to be known can enjoy freedom for a while yet.

fiulpro

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You should add Germany too .
It's not change of heart its like the need of the hour , they are doing all this because they understand that it is actually a very serious topic now , since the digital assets are now everywhere they need to either go with the flow and be 10 years in the past and it is also not just the cryptocurrencies but also the blockchain technology which is sliding down in every sector very slowly and I think ..it's just because the government is realizing the good sides , they are also getting benefited and so are the people thus ..it's just like adding another stock market but this time a decentralized one.

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Quote from: Beparanf on December 01, 2019, 09:23:18 AM

Quote from: meliodas on November 30, 2019, 11:15:44 PM

As the prices of the cryptocurrencies rises and as the market becomes more mature, it is indeed a good indication for the developing countries to try digital assets like cryptocurrencies where they can invest the small proportion of their money into it and also establish blockchain based systems in their country to improve the quality of their service and security.

Many sees the potential it can give as easy transaction payment as well as form of investment. Government can create their own token for their advancement. As long as they will implement it in a proper way it will surely adopted by their people. Blockchain transparency and security can really help to run their government free from corruption.

Want it or not the people will be forcefully adopting the crypto created by the government one way or another but not for investment because centralized government coin usually works the same way as how any stablecoin out there does. It will be backed up either by assets or fiat so there's no such thing as investment. However, the government could adopt blockchain for election aswell because it will improve the democracy by its transparent nature.

hatshepsut93

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First stablecoins, now governmentcoins (if they will ever be released, which I doubt a bit). Centralized players embrace blockchain technology, but not in a way that crypto noobs think - they just make centralized crypto and blockchains because of the hype, they are afraid to miss out on the next big thing in tech. Countries and big companies aren't immune to FOMO, and it actually doesn't cost them much to do all these blockchain tests, since all they have to do is hire developers - there's no hardware or electricity costs, because they don't use PoW.

worle1bm

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Most of the governments around the world have appreciated the blockchain technology due to its advantages like transparent and less corruptive ways over making transactions.They really want to be updated with latest technology and adopt digital forms of payment to implement in their system but most probably they have mindset on developing their own centralized coin under their control but if they empower cryptocurrencies then it would have great impact on the market and global economy will be boosted by their usage.Hope for its betterment and price rise soon.

Beparanf

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Quote from: meliodas on November 30, 2019, 11:15:44 PM

As the prices of the cryptocurrencies rises and as the market becomes more mature, it is indeed a good indication for the developing countries to try digital assets like cryptocurrencies where they can invest the small proportion of their money into it and also establish blockchain based systems in their country to improve the quality of their service and security.

Many sees the potential it can give as easy transaction payment as well as form of investment. Government can create their own token for their advancement. As long as they will implement it in a proper way it will surely adopted by their people. Blockchain transparency and security can really help to run their government free from corruption.

huige007

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Quote from: clickerz on November 29, 2019, 08:48:21 AM

Quote from: ecnalubma on November 28, 2019, 07:38:52 PM

These countries are fascinated by blockchain technology that’s why they are taking early move for adoption. I just wonder if they will run it right away publicly or implement it by sector, this is very challenging for their side but lets see what will happen during its early phase.

Well, that is the trend now, going digital. Since blockchain technology is new and emerging, many countries try to have their own crypto assets/currency. This is good since this is also a part of crypto awareness and hope for adoption. We are seeing more implementation of this project in the future for every country as they try to utilize this new technology.

Crypto currencies are one of the products of blockchain technology. There can be others created too. Many companies are planning to improve existing systems with the help of blockchain as this will make systems more secure. Bitcoin has attracted many investors and the number keeps on increasing which drew attention of governments. They wanted to make bitcoin as their currency but it is decentralized so making own national crypto coin is the only left option.

meliodas

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As the prices of the cryptocurrencies rises and as the market becomes more mature, it is indeed a good indication for the developing countries to try digital assets like cryptocurrencies where they can invest the small proportion of their money into it and also establish blockchain based systems in their country to improve the quality of their service and security.

Twinkledoe

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Quote from: el kaka22 on November 29, 2019, 12:01:55 PM

I think the interest got higher because they realized there are tons of people who could invest in global tokens or currencies from everywhere in the world. So, Russia knows that they could make a digital currency that means nothing and worths zero but could get millions of dollars for it, maybe even billions. Which is why they are looking into it and nothing else.

However, some of the other countries like Japan for example is doing it because they want to see their country develop into something better, they are not a ruthless capitalist country, they do have a very high standard of living and cost of living but they do have a very tiny unemployment as well so they want to improve the finance world to the level of their own with digital currency implementation.

I feel a lil bit of hate towards Russians. Tongue

But seriously, when these blockchain projects came into fruition, we encountered a lot of Russian scammers. There was a time that if it is a Russian-backed crypto, expect that you will be scammed. They really have bad reputation in the community.
But for countries like Japan or maybe Singapore (which I am surprised that it is not included in OP's list), they are pretty serious in exhausting the potential of blockchain towards the development of their country.

gantez

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This is a good news. 2020 to my view will actually be a testing ground not only for the countries above mentioned but for the general adoption of cryptocurrency. The light is on already , more testing will line up.

bitsurfer2014

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Quote from: suzanne5223 on November 29, 2019, 06:51:39 AM

Quote from: bitsurfer2014 on November 28, 2019, 04:40:32 AM

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

I guess the reason why China was mentioned is because current on protest in Hong Kong which I believe happened because the people demanded democratic restructure , creation of independent investigation body for police violence/cheat, and a fair voting system. Therefore, if the protest continue the creation of the national crypto may not happen.

I may have to disagree with that idea since I think China's cryptocurrency ambition will eventually push through, whatever the outcome on Hongkong's political dilemma.

Rather, I believe China wasn't included on that list because I think, eToro - the publisher of that article was cautious enough not to preempt any media releases with regards to China's crypto plans for fear of possible repercussions from China since they have an office at Shanghai and I think that exclusion is meant to protect eToro's business interests on that country. Imho

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