Topic: Government-issued cryptocurrencies...Are they the Future? (Read 583 times)

That's certainly true, mate. Everything will depend on the collaboration from both people and governments worldwide, for a digital Fiat currency to function as intended. The process will be a rather slow one than usual, since there are many people that are still accustomed towards using physical cash in their daily lives. Governments would need to introduce their digital currencies in a slow and steady pace, in order to attract people into the new economy. Only then, physical cash will cease to exist in its entirety as our economy will live within the digital realm.

Given how Blockchain technology has gathered the attention of central banks and governments worldwide, it's likely that government-issued cryptocurrencies are the future. No one knows yet what will happen by then, since Blockchain is still not mature enough for mainstream use. As time goes by, the technology will improve to a point where scalability and privacy limitations will be no more. Only then, governments can use this system in its entirety to transform traditional finance as we know it. But as I've said earlier, this will take some time before it becomes fully implemented. In the meantime, we should enjoy decentralized cryptocurrencies as much as we can since they're prone to become extremely valuable in the future once Blockchain awareness spreads wide enough among people worldwide. Just my thoughts

TBH as long as they stop putting a blanket ban on all other cryptocurrencies I am happy with whatever they decide to do with their county-owned crypto.

And yes I do think that government-issued cryptocurrencies will be the future because it will save them $.

This is not to say that cryptocurrencies issued by the government are the future of these cryptocurrencies. Such cryptocurrencies, as a rule, are stable coins and will simply occupy their niche among all cryptocurrencies. Government cryptocurrencies and decentralized cryptocurrencies are completely different types of cryptocurrencies, however, apparently, all of them will find their place in our lives. The requests of people are different. National currencies in digital form will also be in demand, as they provide users with additional convenience compared to conventional currencies.

It's up to the government if they will adopt cryptocurrencies. If they will, citizens won't have any choice but to adopt also. There's a possibility it can be the future if they will continue it. Since they can still regulate it and I think centralized crypto currency will give them more power to control over their people and the flow of their money.

In some ways, I believe that there will be people that will support centralized digital currencies within the future. After all, there are people that still use centralized Fiat despite crypto's emergence back in 2009. Not everyone will feel comfortable transacting with decentralized cryptos like Bitcoin and Ethereum. Since Fiat currency has been well-known to provide trust, its digital version provided by worldwide governments could very well succeed in the future. Knowing that technology is advancing every step of the way, governments will feel obliged to adopt Blockchain technology for their own benefit or be left behind in the dust.

With Blockchain's prominence within the mainstream world, government-issued cryptocurrencies could be the way of the future. But it may take some time, as most people are still accustomed to traditional forms of money. Credit cards, and physical cash would need to die first before we could experience a whole new world powered by digital cash. One way or another, we'll get there as the world becomes more interconnected each day. All in all, it's safe to say that we're early adopters of Blockchain technology as it hasn't even been fully implemented into the mainstream world yet. Just my thoughts

It's not going to be decentralized anymore but more of a centralized one where they can track their people's use of coins, I have not yet seen one country doing that there are some country preparing to implement that, if there's one country successfully do this, then many countries will follow this trend

Finding the freedom of income with crypto is just a common perspective from our community, this number is insignificant, a lot of people in the world don't know about crypto but they know that the government always creates good conditions for them to have development and changes in a safe situation. And with the same belief we have in bitcoin, when the government issues crypto, many people will use it and support it, so many opportunities for these cryptocurrencies to become the future, the government has too much advertising and promotion

That is a good one if Government create they own cryptocurrency  and is very transaction is transparent and the blockchain is more reliable for a future used, secondly it we help to fight corruption (Bitcoin).   

Time will tell as it goes by. Remember this same China banned and suspended lots of cryptocurrency projects and we heard of them building a blockchain network not long from the ban and suspension. Cryptocurrencies will be the future but I doubt if it will be wholly.

The government issued coins are not the future everything the government does is for their own interest St that's centralization, keeping them in power to control everything else. Cryptocurrency is about decentralisation which the government can't give.

The government always strives to maintain its power through population control in various ways. The most basic is ordinary money.
I don’t think that something will change too much when the next digital money is created by the government, one way or another they will have certain limitations and control properties.

Adoption rate for cryptos backed by government will be higher than decentralized projects by many developers, i as a person will even add gov backed coins in my portfolio list just to see how things will be after few years, crypto is all about risk taking

In anything that government get involved there is no freedom, i still think that its a bad idea if government gets involved in crypto, there will be many manipulations from the government but since this is what many people wants we will see how it goes with the regulation

Cryptocurrencies issued by the government can actually outperformed other crypto coins and tokens, its actually what some people are waiting for, they belief that government involvement in crypto will have better results and scam free too but its not what i see, infact there will be more manipulations

In recent years growth rates of technologies gain steam that has no analogs in the history of mankind, I think that it is possible in the near future, but prezhdenuzhno to undertake many reforms, it is necessary to adopt the relevant laws, consciousness and thinking of ordinary people has to too will change

That's certainly true, mate. As investors continuously demand cryptocurrencies, Blockchain adoption will increase at an unprecedented rate over time. Governments have noticed the true benefits of Blockchain technology, which has led them to perform tests in order to launch a digital currency of their own within the future. The trend is similar to the Internet, where now its a necessary tool for communication, finance, and more. Blockchain technology, although still new to the world, could greatly disrupt our economic system as we know it. Governments could launch their own digital currencies with ease, but it will be up to the people whenever they adopt this new kind of money or not.

Despite this, we're still living in the physical cash era. It may take quite some time before government-backed digital currencies start rolling in for the mainstream world to use. It's not going to be easy, but we'll get there over time. Given the outcome of central Banks and governments adopting Blockchain technology for their own benefit, it seems very likely that government-backed digital currencies are the way of the future. In the end, decentralized cryptocurrencies will continue to be used among everyday people distancing themselves from centralized digital Fiat. Once this happens, we'll never need to conduct transactions with physical assets ever again. Just my thoughts

If they will be opensource and fully decentralized, then dont matter who start/issue them. Question is why would they do that since such allready exist. Why not help develop existing one?

We have yet to see this happen unless one country creates a token and that token is well adopted in the country of origin and hit the top ten in the market, then that will become a new trend, in the past, there were attempts, but it did not succeed some countries are now planning, let's see their implementation.

Exactly. After all, governments don't want to lose their power over their citizens. One way or another, they'll implement a system that will keep track over people's transactions worldwide. This gives them a greater level of control than the traditional monetary system of today, since it's possible to freeze transactions, trace the origin and destination of funds, and even track criminal activity with ease. All of this is largely attributed to the benefits of Blockchain technology. Central Banks and governments worldwide have realized this, making them eager to launch a digital currency within the not-so-distant future.

With due time, government-issued cryptocurrencies will start rolling in within the mainstream world. I believe that there will be an ample separation between digital Fiat and traditional cryptocurrencies like Bitcoin and Ethereum. This is because, the former will be extremely centralized while the latter will continue to remain decentralized for the foreseeable future. Given how many banks have formed partnerships with several crypto companies and startups, it seems very likely that government-issued cryptocurrencies are the way of the future. But it may take some time though, as people are still accustomed to using physical Fiat worldwide. Old generations have found it hard to adopt the latest technologies like Blockchain and AI. But newer generations (especially millennials) have found it easy to do the switch. Eventually as time goes by, we'll be able to experience the transition from physical cash into digital cash within the mainstream world.

Nonetheless, the time frame of a government-issued cryptocurrency may take longer than we've thought as Blockchain technology is still not mature for the world. There's a lot of work to be done, especially in the areas of scalability and fungibility. Once those limitations are solved, then Blockchain could start rolling into traditional areas of finance as we know it. Just my opinion

The only issue that I have with these government-issued cryptocurrencies is that they’re centralised. It means that they would still control them for good. They’re not going to give us transparency like what decentralized cryptocurrencies such as Bitcoin, Ethereum, etc., are capable of.

Like what China and India are doing these days when they’re planning to issue their own “cryptocurrency”, which in fact are considered digital fiat.

I honestly don’t think they are the future. They will be having unlimited supply, compare to the limited supply of Bitcoin and other altcoins that would appreciate or depreciate their value.