It could be possible that Government-issued crypto will become part of our future since others would prefer it especially on the business
sector which are bound by regulations and needs to be compliant. I also assume a mix of these state crypto's together with other legacy
coins go hand in hand that will form part of our immediate future!
Topic: Government-issued cryptocurrencies...Are they the Future? - page 5. (Read 566 times)
We should know very well that governments will continue to support centralization. It will not create a coin that supports anonymity or untraceable. This is against the government system.
Over the past years, we've seen how the Blockchain industry has grown to levels far beyond reach. Its first application was digital money (Bitcoin) within 2009. Then, its applications were expanded where now it's possible to prove ownership, store data in an immutable form, and even vote without the possibility of fraud or corruption. With the advent of smart contracts, Blockchain has become more powerful than ever.
Governments and central banks have realized the benefits of this new revolutionary technology, which explains why they've started to explore Blockchain tech more thoroughly. Now, some governments have announced plans to launch a digital currency of their own, while others have already done so. Venezuela has created its own digital currency called "Petro", while China is already designing its "digital yuan". Before we know it, physical cash will be no more as our money will be shifted towards the digital realm.
But, we'll have to see what the outcome of government-issued digital currencies will be as Blockchain technology is proven to have its own limitations (such as lack of scalability and privacy) which makes it terrible for mainstream finance.
Nonetheless, do you think that government-issued cryptocurrencies are the future? Or will it be just an idea that will pass away over time?
Governments and central banks have realized the benefits of this new revolutionary technology, which explains why they've started to explore Blockchain tech more thoroughly. Now, some governments have announced plans to launch a digital currency of their own, while others have already done so. Venezuela has created its own digital currency called "Petro", while China is already designing its "digital yuan". Before we know it, physical cash will be no more as our money will be shifted towards the digital realm.
But, we'll have to see what the outcome of government-issued digital currencies will be as Blockchain technology is proven to have its own limitations (such as lack of scalability and privacy) which makes it terrible for mainstream finance.
Nonetheless, do you think that government-issued cryptocurrencies are the future? Or will it be just an idea that will pass away over time?
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