Topic: Goverments creating digital currencies - Threat or Opportunity? - page 5. (Read 3565 times)
I think the more governments that create their own cryptocurrency are good for the cryptocurrency market. Currently, the Chinese government has issued an electronic yuan to pay salary for workers and to exchange goods online. And in order not to be left behind in this market, the United States will also issue an electronic US dollar to counteract the yuan. Thus, more and more people will invest in this market and will help the value of BTC will increase sharply in the future.
Many won't support it but if the govt creates digital currency we will have tons of opportunities Everyone now prefers to transact digitally which can make our transaction much easier. there's no got to go anywhere else for transactions I can easily use digital currency from wherever i'm, there's no got to convert money People will become more skilled and its popularity will spread everywhere the planet.
Many I believe will support it. Digital currencies will likely be the best for current situation because bills that is passed on from person to person will worse the number of covid19 patients while making transactions with digital currencies will need no contact.
There is no need for people to have more skills since they are just given phones to install wallets. Government can certainly provide phones for each of their people but this will probably be gradual.
Digital currencies don't really mean its crypto currencies.
So there won't be much different from the current payment system, the only difference will be payment gateways which will be offered by the government itself so they can track each and every transaction without the help from banking system so they are not really doing anything other than stealing users privacy.
Many won't support it but if the govt creates digital currency we will have tons of opportunities Everyone now prefers to transact digitally which can make our transaction much easier. there's no got to go anywhere else for transactions I can easily use digital currency from wherever i'm, there's no got to convert money People will become more skilled and its popularity will spread everywhere the planet.
Many I believe will support it. Digital currencies will likely be the best for current situation because bills that is passed on from person to person will worse the number of covid19 patients while making transactions with digital currencies will need no contact.
There is no need for people to have more skills since they are just given phones to install wallets. Government can certainly provide phones for each of their people but this will probably be gradual.
Many won't support it but if the govt creates digital currency we will have tons of opportunities Everyone now prefers to transact digitally which can make our transaction much easier. there's no got to go anywhere else for transactions I can easily use digital currency from wherever i'm, there's no got to convert money People will become more skilled and its popularity will spread everywhere the planet.
Good chance and opportunity when government want to create own digital currency because will wake up the economic and many people will adopt and use digital currency than using cash money, how ever payment most easy and faster after adopting and using digital currency than we use cash transaction.
If you will be thinking of it, there are already a lot of people using payment methods online rather than doing it traditionally or offline. So I don't think that it will wake the economy up since they would be waking the economy up before even thinking they need a digital currency for the efficiency of transactions for the people and another country as well.
yes you might be right . people already start using digital payments especially when the android and smartphones came out due to thier portability and afordability but what about now when the virus season started . people right now are more involved on using digital payments . also no cryptos before but cryptos are only becoming popular lately so i believe that people tried cryptos too . some are satisfied with it but if the digital crypto come from government i think they will support it more better
Good chance and opportunity when government want to create own digital currency because will wake up the economic and many people will adopt and use digital currency than using cash money, how ever payment most easy and faster after adopting and using digital currency than we use cash transaction.
If you will be thinking of it, there are already a lot of people using payment methods online rather than doing it traditionally or offline. So I don't think that it will wake the economy up since they would be waking the economy up before even thinking they need a digital currency for the efficiency of transactions for the people and another country as well.
I hope the government won't make us run into some sort of problem in the future with the creation of stable coins. They will try to censor this and may up being a political and economic tool. Although it's good they are embracing the power of blockchain, but the government can't be trusted.
There are some rumour around about the authorities being afraid of stablecoin saying that it could disrupt their economy. at the moment stablecoin could grow unnoticed by the elites because the market capitalization is still relatively low, imagine when we hit significantly higher market cap what's gonna happen. They are using aspects of cryptocurrency technology to create supercharged fiat currencies.
If people are unhappy about government meddling, surveillance and control now they're going to be screaming if these ever get implemented.
They will be able to debase your money with no way of combating it, shut you down if they don't like one of your transactions, extract money from you no matter where or how you're storing it and places like China will be able to control where and how you spend your money or simply make you a total non person incapable of spending, earning, sending or receiving it.
That'll make the case for real crypto more compelling than ever. However it may also make getting in and out of crypto very hard to impossible. It needs to get some form of its own economy that can stand completely outside government money before governmentcoins become the norm.
If people are unhappy about government meddling, surveillance and control now they're going to be screaming if these ever get implemented.
They will be able to debase your money with no way of combating it, shut you down if they don't like one of your transactions, extract money from you no matter where or how you're storing it and places like China will be able to control where and how you spend your money or simply make you a total non person incapable of spending, earning, sending or receiving it.
That'll make the case for real crypto more compelling than ever. However it may also make getting in and out of crypto very hard to impossible. It needs to get some form of its own economy that can stand completely outside government money before governmentcoins become the norm.
They are using blockchain technology to implement their own cryptocurrency but the only problem that they will encounter is mass adoption. I'm sure that people will still trust cryptocurrencies that are proven and tested because they see its advantages for so many years. New cryptocurrencies that entered economy will not be developed and adopted that fast because we all know that people are looking forward for an investment where the volume of people in the market who uses it is most likely higher. But some good cryptocurrencies experienced being in that position at first but what can we do, the older the crypto existed in the market, the more it will dominate new cryptocurrencies as these are really giving huge profits.
I hope the government won't make us run into some sort of problem in the future with the creation of stable coins. They will try to censor this and may up being a political and economic tool. Although it's good they are embracing the power of blockchain, but the government can't be trusted.
It's funny to watch how quickly all the hype and talk around the creation of national cryptocurrencies subsided against the backdrop of the pandemic.
Almost nothing of the kind comes through in the info field, but I'm sure that work on these projects is underway, especially now when there are so many people in quarantine.
I would like to know those things that are not yet in the info field.
Almost nothing of the kind comes through in the info field, but I'm sure that work on these projects is underway, especially now when there are so many people in quarantine.
I would like to know those things that are not yet in the info field.
I would say that it is a threat because if we follow the supply and demand model that means that more crypto means there are a lot of competition for bitcoin thereby shrinkong the value of pioneering crypros. I think this coutries are creaing their own because they can't control bitcoin.
Why would it be a competition for Bitcoin?
It is just the digital currency of a fiat that they had, nothing more. It is still centralized, not anonymous it is so far from being a competition of Bitcoin and other cryptocurrencies with better features and uses. They are creating their own since the technology is obviously leading to that kind of currencies, it has nothing to do about controlling Bitcoin.
It's funny to watch how quickly all the hype and talk around the creation of national cryptocurrencies subsided against the backdrop of the pandemic.
Almost nothing of the kind comes through in the info field, but I'm sure that work on these projects is underway, especially now when there are so many people in quarantine.
I would like to know those things that are not yet in the info field.
Almost nothing of the kind comes through in the info field, but I'm sure that work on these projects is underway, especially now when there are so many people in quarantine.
I would like to know those things that are not yet in the info field.
Goverments creating digital currencies is both positive and negative. On the one hand, it will drive more people to the digital currency and this market will become more popular. On the other hand, national governments will impose stronger domestic exchanges, they will manage transactions more closely.
April 25, 2020, 08:43:03 AM
As we well know, there are several opinions on the matter in favor and against digital currencies that governments want to create.
Governments know the impact that BTCitcoin and blockchain have caused. It is increasingly evident that traditional banking is lagging far behind the advancement of technology and is not giving its users quick responses to their needs.
There are currently blockchain use cases in the banking industry. As indicated in the following article
https://changelly.com/blog/blockchain-in-banking-industry-use-cases/
Commerzbank (Germany)
UBS (Switzerland)
JP Morgan (US)
ING (Netherlands)
Banco Santander (Spain)
Among others.
So it makes me think that governments are seeing the need to reinvent themselves by creating their digital currency.
Governments know the impact that BTCitcoin and blockchain have caused. It is increasingly evident that traditional banking is lagging far behind the advancement of technology and is not giving its users quick responses to their needs.
There are currently blockchain use cases in the banking industry. As indicated in the following article
https://changelly.com/blog/blockchain-in-banking-industry-use-cases/
Commerzbank (Germany)
UBS (Switzerland)
JP Morgan (US)
ING (Netherlands)
Banco Santander (Spain)
Among others.
So it makes me think that governments are seeing the need to reinvent themselves by creating their digital currency.
April 25, 2020, 01:50:40 AM
Good chance and opportunity when government want to create own digital currency because will wake up the economic and many people will adopt and use digital currency than using cash money, how ever payment most easy and faster after adopting and using digital currency than we use cash transaction.
Yeah and maybe later Bitcoin will be increasingly in demand by the public because Bitcoin is the first digital currency present before the Government wants to adopt their digital currency. I am very optimistic that if Government creates digital currencies then Bitcoin will become popular in eyes public.
April 25, 2020, 12:14:01 AM
Good chance and opportunity when government want to create own digital currency because will wake up the economic and many people will adopt and use digital currency than using cash money, how ever payment most easy and faster after adopting and using digital currency than we use cash transaction.
Yeah and maybe later Bitcoin will be increasingly in demand by the public because Bitcoin is the first digital currency present before the Government wants to adopt their digital currency. I am very optimistic that if Government creates digital currencies then Bitcoin will become popular in eyes public. April 24, 2020, 11:01:32 PM
If the govt is creating digital currency then this is often an honest opportunity for us we will easily use cryptocurrencies and nobody can use cryptocurrencies illegally this may speed up our transactions and improve the cryptocurrency. People will transact cryptocurrencies very easily and there'll be no fear of getting lost and scammed Banks will support cryptocurrencies.
April 24, 2020, 03:15:21 PM
if the government starts creating their own cryptocurrency then I think that's an opportunity, Cryptocurrencies have the opportunity to be legally valid and can be used for transactions
threats may exist, but only threats to market competition
threats may exist, but only threats to market competition
In this case, it is obvious that this type of currency will be very tightly regulated and collect the maximum data about its users. Not sure if we need it.
Yes, the ability to transfer funds will expand, but at the same time, control over people will increase.
April 24, 2020, 09:45:46 PM
Good chance and opportunity when government want to create own digital currency because will wake up the economic and many people will adopt and use digital currency than using cash money, how ever payment most easy and faster after adopting and using digital currency than we use cash transaction.
April 24, 2020, 01:49:27 AM
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?
this will favor our market because at least there will be more option of legal crypto that we will invest for and for sure those currencies is well supported and may not be manipulated.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?
We all know how Chinese government is eager to make Coin to compete Bitcoin as they are always wanted their own brand and product and since they knew that crypto will be the next big thing then they are getting ready.
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