Topic: Countries testing digital assets in 2020 - page 9. (Read 1689 times)

This. Ngl, China is at the front of the news with regards to crypto most of the time, and was the only country I actually knew of that was starting to create their own coin. Every country is basically preparing to what could possibly be the replacement for Fiat and are trying to dominate the market before it even happens. It's pretty much a race between all of them to see how things could possibly change with their respective coins.

If you actually look at it from one angle, it kinda seems like BTC would be the universal coin that is used for basis when digital currency replaces fiat. Though i don't really know if that works or meshes well with stablecoins.

This is very good news about the crypto market but it is quite bad for the economies of many countries. What do you think about the corruption of the political system to use money to launder money and tax gradually fading in a confusing way?
I think there is no reason for governments to create cryptocurrencies for anything, this should be for private businesses. I am still from my old point of view that any government that creates their coin is suspicious.

You don't have to be surprised because every article is based on the opinion of the writer and its at his discretion to decides what makes it into his article so far other claims are not false. It could also be the timing because as I can remember it was until recent that there was news filtered across the crypto space about China looking the way of blockchain.

The change in heart is not something that is far fetched. Its just discovery that the world have come to embrace the digital age and its not going anywhere its not left for countries to want to join in or be left behind. I see other countries joining the train as we move into the future.

yes, I'm also surprised with this. while there is a lot of news about China that will use a new currency in blockchain-based recent weeks. in my opinion there will be many impacts. especially in the crypto world that we are currently working on. with countries making currencies on the blockchain. it will be increasingly difficult for bitcoin to compete in any country. because the currency built by the country will be accepted in any country and can be controlled and monitored.

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!

Now I'm eager to see on what will transpire on each country's crypto development. Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.? And what will be its effects on global economy?

Digital Assets are still not considered to form part of the mainstream, but things are changing. More and more governments are recognizing the potential of blockchain and cryptocurrency technology, and implementing their own coins. We’ll be taking a look at all of the countries testing digital assets in 2020, and where this technology could take us.

Dubai
Dubai announced their cryptocurrency Emcash in 2017 - which became the world’s first state-backed digital asset. Emcash tokens run on a native blockchain, which will officially be implemented in 2020. This blockchain will be used for government and non-government services, including paying school fees, utility charges, and money transfers.

Russia
Russia has also shared it’s interest in creating a government cryptocurrency called Cryptoruble. Announced by President Vladimir Putin in 2017, the cryptocurrency will be linked to Russia’s Central Bank. The coin is currently still in development.

Japan
Japan is expected to launch their own digital asset called J-Coin ahead of the Tokyo Olympics in 2020. Japan is one of the most progressive countries in Asia when it comes to cryptocurrencies. J-Coin will act as a supplement to Japanese Yen (JPY), and will be exchanged 1:1 with the JPY. Citizens will be able to buy goods and services with the digital asset.

J-Coin Pay, a digital wallet associated with the coin, has already been launched.

 https://twitter.com/TahsinAygun/status/1193617219210686464

Sweden
Another one of the countries testing digital assets in 2020 is Sweden. The Northern European state is considering launching its own state-backed cryptocurrency called the E-Krona, in an aim to make the state totally cashless. Currently only 20% of the businesses in Sweden accept cash transactions, so a digital currency would help move the country forward to becoming a cashless society. 


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.

https://www.youtube.com/watch?v=Wo1Y7PMDIjM

Why the sudden change of heart?
Up until quite recently, many countries were actually quite resistant to the idea of cryptocurrency and blockchain technology. After taking a look at the countries testing digital assets in 2020, it’s quite clear they’ve had a change of heart. This can be largely attributed to the immense success of Bitcoin, a change in attitude towards the digitization of our future in general, and the implementation of Facebook’s very own Libra coin. As cryptocurrencies become more accepted on a societal level and go mainstream, it’s likely that more and more governments will see the almost limitless possibilities that blockchain and digital assets have to offer.

https://www.youtube.com/watch?v=v8yKNmeU30U&t=26s

Blockchain and crypto technology can be used to further advance our collective society in so many ways - helping us adapt to an increasingly tech-based future. It’s up to our governments to implement them in ways that will benefit not only their citizens, but their country as a whole.

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