Cryptocurrency could benefit the world's economic welfare? - page 3.

avikz

legendary

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Quote from: Evil eye on July 29, 2018, 07:58:08 AM

Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.

https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/

What do you think about the economic world of cryptocurrencies?

This is possible only if the cryptocurrency is accepted as a legal tender in that particular country. Means, it will be only effectively boost a county's economy if a person can purchase goods and services using cryptocurrency. Otherwise, it will have no impact on the economy.

In majority of the countries, cryptos are being used as an investment. That will not boost the economy of any country because at the end of the day, investors will have to convert it to fiat to see the profit. To empower the actual economic boost through cryptos, it needs to be a legal tender first!

mamarried

member

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Quote from: Evil eye on July 29, 2018, 07:58:08 AM

Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.

https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/

What do you think about the economic world of cryptocurrencies?

Without saying anything about cryptocurrency I can say about blockchain that it is really a comfortable and positive place for a business to get developed in. Most of the small businesses owners are afraid of it but it is temporary.

the13thsymphony

jr. member

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If certain countries does encounter problems in their economy and their economic status the collapsing then its people can definitely turn in to cryptocurrency as it have a different market and can self sustain an individual and seeing many governments would want to get into it is a very good move not only for them bu also for the people in their country and the investors of cryptocurrency and more money will circulate the market.

aso118

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★Nitrogensports.eu★

Quote from: Evil eye on July 29, 2018, 07:58:08 AM

Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.

https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/

What do you think about the economic world of cryptocurrencies?

Governments all over the world look for means to improve efficiency in benefit delivery. If cryptos can provide a means to do so, then there is no reason why countries wouldn't adopt them. In this particular case, the gains talked about are brought about due to the elimination of cash. I am not sure if that is a desirable (or even possible) thing to do.

dev9t9ok

newbie

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I am sure that this news is very positive for us and the market situation because two greatest countries (USA and Canada) are thinking about using crypto technologies. I think that it is a very positive signal for us that crypto technologies will have the great future. Just imagine what will there be on the crypto market in case of using crypto tehnologies on a country level. I think in this case most part of coins will soar th the new historical highs and I am ready for this scenario by holding ETH and BTC.

mostkey

sr. member

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In the near future as it is now only useful for the country and for individuals who have felt the development for the economy as well as for improving the individual economy, the world still has not seen it because there are still many countries that are not yet convinced to adopt cryptocurrency in the present and perhaps for the future it can happen, need the first step to do this all, not much different from the fiat that is limited to the different forms, cryptocurrency provides a great convenience for the user in the transaction, the security of which has proven system of security depends on yourself no interference from others, then it is fitting cryptocurrency must appear in the world because it will have a positive effect on the economy.

audaciousbeing

hero member

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Quote from: Evil eye on July 29, 2018, 07:58:08 AM

Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.

https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/

What do you think about the economic world of cryptocurrencies?

I am sure a lot of people didn't bother to read more and understand the crypto currency being talked about here just assuming that its bitcoin or the known coins we have come to be aware of in this crypto ecosystem.

Of course crypto currency is going to boost the economy and save a whole lot of costs that is being expended in printing notes at intervals and having to build safe rooms all over to ensure security couple with the cost incurred to move it from one place to another. This would be basically eradicated with the presence of crypto which the paper clearly outlined but the concern there is how would both cash and digital currency co-exist which is something they are yet to figure out and I think that should not be a problem at all as crypto should be rolled out on a phase basis while cash is still being used.

Another area of concern is because the crypto they are talking about is purely state backed crypto and how they want to convince those already aware of bitcoin, ETH and others to adopt that fully is way out of imagination.

BTC_BTC

newbie

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of course, I strongly agree with your opinion on this.
bitcoin can be very useful for the world economy if managed properly, and get support from every government.

Quinni

member

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Crypto currency is just a speculative product, which is likely to bring benefits to the world when the market is good. Therefore, encryption is likely to change the world.

fiulpro

hero member

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It is off course true , the developing countries are in fact scared that someday..there will be too many investors and the cryptocurrency will loose the value and the whole economy of the country will break down, but it fact it's enabling the whole country and it's people to have a wider perspective , and also the international trades are very much fluorishing because of it and by that I don't mean trades by big companies but more like personalized, now anyone literally can afford and set up a business and get the recognition world wide, this is indeed something that I think is a benefit.
You know take an example of stock market which take moeny in the form of dollars first you have to go to forex then convert the local currency into dollars and then go to the stock shares index get yourself verified and even after that whatever you earn comes back to you only after you have done some verifications and then again you will have to convert dollars into normal currency, this is so complicated that most people don't want to get involved.
But with cryptocurrencies it's so early it's like one step process whole dependent on u not anyone else.

kujaroth

newbie

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It is possible. It might help in the economy of some other countries depending on how they use cryptocurrency. It would boost the economic standing or the economy of the country but we won't know by how much.

CoinEraser

legendary

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Quote from: Evil eye on July 29, 2018, 07:58:08 AM

Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.

https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/

What do you think about the economic world of cryptocurrencies?

I think that does not work for the whole world. Only in countries, with people who also own crypto, benefit from it. There are certainly countries in which people have little or no cryptocurrency, since in these countries the internet is barely or not at all available. Such countries do not benefit from crypto. You can also put it another way. The rich get richer, the poor stay poor. I think cryptos too can not do much about it. If it should be different, I would be very happy if the whole world has something of it.

Evil eye

jr. member

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Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.

https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/

What do you think about the economic world of cryptocurrencies?

Topic: Cryptocurrency could benefit the world's economic welfare? - page 3. (Read 476 times)