Some governments recently try to create their own crypto currencies (e.g. China), according to reports. Some welcome this as a good step towards mass adoption of cryptocurrencies, others don't like it. Still, the crypto media welcomes this and we should consider whether this is good news in general or not.
What would be your opinions be on this? Should more and more governments create their own digital currencies and introduce them to their population or should we not support the creation of digital currencies made by governments?
Well, it’s kind of a positive move but as they say, there will always be a negative side to everything. I’m thinking this wouldn’t be good for the current cryptocurrency community. We all have known true cryptocurrency to be decentralized, which is what most of us here wants, a decentralized currency that gives us the freedom to do whatever they want and also send and receive money without the help of a middleman.
This is not what the cryptocurrency of the government would have to offer, rather it would be centralized and controlled by the government that issues it. Another thing is that it is likely to gain more adoption, since majority are interested in a currency that is issued by the government and sees others as scam.