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.

To me,  government currency may have some future provided that the government itself is acting in a modern way, not clinging to the past.

    There is a catch, government issued crypto-currencies can`t be like digital money, they will be on Blockchain technology. That`s the huge difference.
They will need to adjust some laws, they will have to be more transparent.
    Government issued crypto-currencies will come late I think. While they arrive Bitcoin and some other coins will be a global thing. People are realizing that.

Cryptocurrency issued by the government will not give effect to the cryptocurrency market because it is stable coin. In addition to unlimited supply, the government's cryptocurrency is digital money which is the same as the paper money we hold

If the government or the central bank publishes its own cryptocurrency, it is another form of digital money. It could be a future transformation of money even though it still depends on the central bank as a third party in every transaction or even maybe the government wants to eliminate the role of the central bank in the economy and this seems impossible.

For sure. For a country to have their own crypto, it will surely have terms and conditions abiding it. Any transaction made with it, will be monitored. By so doing, they'll be able to control and manipulate the price easily  to their own favor

I don’t think government issues cryptocurrencies will have any effect or make any difference ! Government won't support anything that is not centralized because they want to control everything ! Now if they make a coin , that means they will control everything about it ! If this happens , we have lost everything !

We should know that everything created by the government needs to be under their control, so with them creating any coin it will still be centralized because they would like to monitor and control all users. So in my own opinion, I think Bitcoin will still be at an advantage over government issued coins owing to its total decentralized nature, in this case still being the future of cryptocurrencies; especially when users or people gets to know they can really own and manage their assets without the government having control over it.

Agree. Governments have seen how beneficial it is to implement their own digital currency on top of physical Fiat. Eventually, digital currencies will take over the world where we no longer need to use physical cash. The government will be able to keep track of every transaction activity within its own blockchain ledger. This proves to be a better surveillance tool than physical cash, as every transaction is transparent across the Blockchain. Of course, government-issued cryptocurrencies will be more of a stable coin than anything else as it resembles Fiat. There will be no difference in price, but in the design of money itself.

As such, both crypto and digital Fiat will exist alongside each other for years to come. People will use various forms of money just like it is right now. Considering how quickly the world has adapted towards the latest technologies, it's safe to say that a government-issued cryptocurrency is the way of the future. Better yet, Blockchain technology will not only serve its purpose well for transforming the world's economy, but it'll also disrupt many other areas such as transportation, healthcare, and supply chain management. But the transitional process from physical to digital Fiat might be a long one for sure. Just my thoughts

We have already seen the successful implementation of cryptocurrency by the state on the example of Venezuela. For the country, this was a kind of way out of the predicament of replacing its national currency. The country, therefore, is trying to circumvent various prohibitions and regulations. Then this is not a state decentralization of payments. Surely other countries use a positive experience for their own purposes. At least the process is running.

If we allow the government backed notes to survive, we may really never get to see bitcoin become global currency, and then there will be a little bit of stagnation in the development of bitcoin as regards prices, because those community that would have supported and concentrate on one market will have those markets too to choose from.

I personally do not support these government backed notes and the only way we may make sure that they don’t get to see the light of the day is when we don’t make use of it to accept it, at least they cannot force us to use what we don’t want except maybe they pass it into law which will create lost of clash of interest between nations as to which of the coin will be recognized as the major one worldwide like dollar is.

Yes, governments will issue their own centralized and, as a rule, stable cryptocurrencies and I think that this will positively affect the development of the cryptocurrency market. This will be a practical combination of fiat and cryptocurrency benefits. On the one hand, in fact, governments will recognize and legalize cryptocurrencies by this, and on the other, through such a cryptocurrency, it will be easier for people to get acquainted and switch to the use of decentralized cryptocurrency. This will be a separate direction in the development of cryptocurrency.

there are regulations governing crypto issued by the government. and it will definitely be good for the development of crypto in the future, especially for the countries that publish it.

this is my thinking, if the government issues their crypto. that means there is an orientation if crypto will be used as an alternative for future money from the country. there are cost savings in making their banknotes and coins. if managed properly, we are truly in the best time of crypto development.

Any government can issue cryptocurrencies but the rules of the issuing country will regulate those. Those will not anonymous like other crypto currencies and have an influence of the government policy and they fully controlled by issuing country.

I think government will not do that because it is risky and people will not recognized and patronized because all we know that if the government will launched their own crypto their are so many terms and condition that we need to do and need to follow. And the real essens of using crypto is having hassle free transactions.

To be frank we still have millions of people that are not into crypto yet because of lack of regulations,they belief that government involvement will give guarantee over funds they invest on ICO or other projects fundraising ideas and moreover scammers and hackers won't be able to run away freely anymore even if they get scammed but to me government is a corrupt entity

If each government publishes its own cryptocurrency, I think it will be used for domestic purposes or to replace paper money. With cryptocurrency made by itself, the government can control the amount of money circulation so that it can control inflation or monetary

The major idea of cryptocurrency is the decentralization thats why it was gaining popularity and support globally. if those Government issue cryptocurrency doesnt work in decentralized manner will i dont think it will prospered much for global uses. but if the local population on that specipic country who issue that cryptocurrency was suppotive to the project i think it will be another story, centralized cryptocurrency issued by government for their own purposes and uses maybe it will considerable in the future.  

I have a feeling that only centralized coins and tokens will be backed by the government,the only positive effect i expected from this is better adoption because there will be regulations if government will get involved,this on the other hand won't disturbed the existence of decentralized digital currencies

I think the purpose of the government to make its own cryptocurrency is to replace the outstanding banknotes and switch to digital technology. Crypto from the Government will not be a competitor of Bitcoin or other altcoins because it is stable coin

Perfect regulation is the key government support crypto's why? Because government want to control crypto how it works as taxable and control the crypto volality as new form of money, but I am not against into regulation if that way is the key for the future of the digital currency become useful in worldwide.

The aim and goal of government issued digital currency will be a direct opposite of the real cryptocurrency we have always known. It will not support the vision of Satoshi, because it has always been against the agenda of government.
Government wants control. They want what will be under their power and make people do what they want.

I do not consider the government issued cryptocurrency as the way forward as the aim of blockchain is to eliminate trust systems and also decentralize systems. When the government creates a cryptocurrency, the logically have control to an extent over the cryptocurrency as its all monitored. Cryptocurrency shouldn't be created by government to ensure its true decentralization

That's certainly true, mate. Crypto's popularity has been largely attributed towards the success of Blockchain technology in general. Governments have noticed how powerful the technology is for maintaining the integrity of transactions. The Blockchain's most successful application is finance (Bitcoin). Slowly but surely, governments have been conducting a research in order to launch a digital currency of their own. They're still skeptical about Blockchain tech, but they're doing their best in order to make a robust system that's bound to improve our economy for the better. I wouldn't be surprised to see a world in the future where central Banks distribute digital Fiat currencies to their citizens. Physical cash will no longer exist, as we enter an era where everything exists in the digital realm.

With a proper regulatory framework for existing cryptocurrencies (like Bitcoin and Ethereum), governments can control their level of growth so they could launch their own solutions without interruptions. Dealing with a government-issued digital currency will prove to be beneficial not only to worldwide countries, but also to the environment as well. I believe that most governments will resort to an energy-efficient consensus algorithm such as BFT or even PoS. While not every country has access to the Internet, that could change soon as technology progresses over time.

Nonetheless, government-issued cryptocurrencies may be the way of the future after all. But it's up to the people whenever they will adopt this new kind of money easily or not. Just my thoughts

I am sure that the coins created by governments and banks will not pursue the same values that were laid down by the founders of the first coins.
It is unlikely that they will want to give us all freedom and equality, they will try to drive us under the hood like now with banks. Therefore, I do not expect good from bank and government coins.

We are moving forward to adoption and if governments are indeed going to release digital currencies, its going to help to fast track the adoption. Digital Yuan is very much of a promising, I would really be looking into the future whether we replace the names of the people in our fiat bills probably satoshi. 


If Venezuela are doing it, there is no stopping a country form doing it to radically change things for the better.

I think they are just a phase.Government-issued cryptocurrencies are no way to go. Maybe a way for the government to get some quick cash but nothing else.And government of which country was the important one.When the government like UK, Canada made this one.You can inverse with blindly.Because the economy of such country won't spoil in a short period. So you can cash out any time.

Coins issued by governments of different states will be another direction in the development of cryptocurrency. Yes, it seems that this coin will exist for a long time and will be in demand, as it will combine non-cash money with some of the advantages of cryptocurrencies. It is stable coins of states that are well suited for use by business structures.

One of the pivotal tenets of cryptocurrency is transparency gotten from its blockchain foundations. Now, that said, can the government be fully trusted to be transparent with creating their own cryptocurrency? With the way the government is run where I live, I will say an emphatic NO!

Let just see what would happen with the first one. Chinese government has already announced their backed digital currency, but it has nothing familiar with crypto right? Another stable coin that would be controlled by government without decentralisation.

Nowadays, cryptocurrency are now becoming popular so much all over the world. Little by little some of the country so far they are adopting the system of digital currency which is crypto. And some they've already regulated it just like here in my country Bitcoin, Ethereum, Bch, and XRP are all well known here in my home town. Therefore, this shows that the government here are wholeheartedly regulating the crypto currency at the moment.

I believe that there is no future for state cryptocurrencies, as they do it for their own benefit, and created the blockchain so that people would become free and independent of the state system. Therefore, if state cryptocurrencies begin to develop, this can badly affect the main goal of the blockchain!

+1
The governments would need a centralised currency, if not they are risking to lose control, and the most important feature of the cryptocurrencies is decentralisation.
 

I think centrally controlled govt backed currencies are the worst idea ever. I will never be convinced it's a good idea.

Governments partnering with crypto companies to leverage blockchain and cryptocurrencies to solve some problems? That is a great idea!

Check out Vite. They're currently working with the City of Syracuse to design a P2P micro loan program which I think is fantastic!

https://ourcity.syrgov.net/2019/01/city-of-syracuse-announces-three-startups-selected-to-participate-in-ground-breaking-startup-in-residence-program/

You are absolutely right, in addition China has been studying all this technology for 5 years, of course, this does not mean that they will accept Bitcoin completely and give it Freedom to negotiate, they develop this currency to establish with a China own network and create a cryptocurrency very different from the others, something like what Russia seeks to develop, however China has presented great concern about the launch of Libra, because they will treat it as one more currency so that it does not affect its economy and create some kind of imbalance in their economy, in fact they have requested to follow up once Libra is launched.

One way or another, governments will issue their own digital currencies within the not-so-distant future. The inception of Blockchain technology, has caused many governments and central banks to explore ways on how to improve the existing monetary system. It's been proven that Blockchain provides unparalleled security and efficiency towards worldwide transactions. Despite its many limitations, we're getting one step closer towards experiencing a transition from physical to digital cash.

Which is why, it's becoming evident that government-issued cryptocurrencies are the way of the future. Somehow, central banks worldwide will adapt to an existent blockchain (either Ripple, IBM's World Wire Blockchain, or Hedera Hashgraph) or one of their own in order to distribute the new government-backed digital currency. With many countries devising their own solutions (India, China, and even Russia), it looks very likely that we won't be using physical cash anymore.

Nonetheless, this will take some time before it becomes a reality since many people are still accustomed towards using physical cash. Old generations will find it hard to adapt towards the new monetary system, while that won't be the case with new generations (millenials). Not to mention, there are some countries worldwide which lack Internet access. Which is why, I believe that the progress of implementing government-issued digital currencies will be a slow and steady one. Just my thoughts

We'd be witnessing it all happen in the future. 5-10 years from now, we might be able to see most kids are only using their phones to conduct transactions on stores and paying stuff with the government issued coins.  Chinese "digital yuan" is probably one of the first that will be widely used because even today they are already into digital transaction over the counter.

Governments are now realizing that they already missed the best time to buy and regulate cryptocurrencies and they think that only way how to back into the game is to create the own cryptocurrency. But they do not understand what cryptocurrency and blockchain really means.

One thing with cryptocurrency is that it has come to stay and if every government adopts the system and phase out cash, what will make it pass away over time? Except maybe there is another better system again that supersedes cryptocurrency which I don’t think we have any guru that is thinking of one for now, and even if we have it would still take time for people to get to know it.

So, cryptocurrency will never pass again, but creating different crypto is what I don’t understand, if they all create their own currency, how would they be able to transact with it again since they are not on the same network, I think what these countries ought to have done is to develop on already exposing cryptocurrency of bitcoin and look for a way to adjust their economy to it.

Well, so far, there are some issues of government creating their own cryptocurrency or uses the crypto as the digital currency such as the USA and also China. However, it is still in the process of planning.

I believe that it will not be only a plan, people are aware of the digital currency and the blockchain technology serves very interesting ideas to follow.
Therefore, sometimes, much more government from more countries will really create and consider their wn cryptocurrency to be used in their country, probably with different rules or as a stable coin.

I don't know, I'm not sure about that. It could be that the essence of decentralization will fade. If the government decides to regulate cryptocurrency, I think it's just a change from the physical form of fiat to digital form, don't you think?

If a government has created its own Cryptocurrency currency, and if all elements of society and government agencies all support it, I am optimistic that the Cryptocurrency currency issued by the government has a good future.
what is difficult is to unite the opinions and support of every level of society to support the Cryptocurrency, because everyone has a different opinion, of course there will be pros and cons.

Yes, they are the future of cryptocurrencies. But i don't think we will see them being traded on current cryptocurrencies exchanges. And some governments can impeach the trading of thoses cryptocurrencies if they don't want to make friend with a country. People are still going to have to follow their government laws and that does prevent the use of certain cryptocurrencies like the Petro.

Government-issued cryptocurrencies will not solve any problem that fiat currencies can't solve, They is no need for any government-issued cryptocurrency because it is just another way for the goverment to keep tabs on citizens.

The governments of many countries have no choice but to pay attention to cryptocurrencies. Over the 10 years of the market's existence, blockchain as a technology and cryptocurrencies as a means of payment are beginning to enter people's lives more and more and nothing can be done about it. Therefore, governments have to decide how their state relates to cryptocurrencies and develop regulatory legislation in this direction. The smartest rulers take advantage of cryptocurrencies, while the stupid ones will ban them.

There is no doubt that we will start seeing a lot of governments issuing there own currency in digital format. Even countries like India is planning to issue a digital version of their own currency which will be known as digital rupee.

Sadly government controlled digital currencies will take over the Fiat market slowly but steadily in near future. But I would not call them as cryptocurrency, rather they will be just a digital representation of centrally controlled Fiat currency running on a private blockchain.

Remember, the rules of a private blockchain can be written for their owner's benefit. Probably the government will allow every Bank branches within their country to act as master nodes to maintain the scalability of the chain.

Technical challenges and the possibilities are a different story all together! But government controlled digital currencies will certainly take the centre stage of the economy within a few years of time.

We cant say that it wouldn't have a future because we are totally opposed to this thing but sadly this one had a bright future.Why? People who do stick to traditional system
will definitely use these government issued coins and hence these are crypto yet these ones are heavily centralized and this isn't totally different from traditional fiat system but this time they do just in line with the hype and tending to create their own.Banning all decentralized tokens and they insert out their own coins to be introduced to masses.
They do have the power on blocking the market and introduce their own and benefit with It since crypto currency is already making some buzz at the moment they do make use or utilize this popularity to blind up those people who loves to be always under the radar of the government.

They aren't the future in the essence, any government issued cryptocurrency would just be like Libra, meaning they would be stablecoin with less volatility, centralized blockchain with anti-privacy operation etc. Their issued cryptocurrency would be boring but they future is never boring that means they can't be the future. Bitcoin volatility nature is one of those features that's attracting new investors as they see more chance of profiting from bitcoin then investing in stock or savings in banks.

No doubt, government will try to win over people with their proposed cryptocurrency but with time their scam will get exposed just as the fiat currency has been exposed.

FIat facing so many problems now and economics of most country are falling down even they the technology are getting better or at its best as of now.
Cryptocurrency will be the answer and soon every country will have their own!

I agree with you, the government will not make crypto coins. they would not want to support decentralization, because that would certainly hurt the country's economy. the government will definitely find it hard to collect tax. but there is still the possibility of the government using blockchain technology but not in the financial sector.

I think that cryptocurrencies created by governments will exist in parallel with fiat currencies. Some time. And after, it seems to me, something new will appear, some further development of the blockchain and electronic payments.

It's more complicated matter, cause we apply here to the question what basic idea lies behind the cryptocurrency. If we focus on the aspect of decentralization, then governments don;t have anything to do with crypto. Although, if we describe crypto just as virtual assets, then government may use this idea to promote itself as modern inistitutions. But let's be honest, such approach will be similar in shape to Libra all newly announced Venus, and in its very base it will be just stablecoin based on national currency, so using it won;t be different from paying with credit card.

China is already coming up with their state owned and controlled cryptocurrency and after they launch it successfully i think every other country will follow. This indicates that future is going to be completely without paper money and this will also help in adoption of truly decentralized real crypto like btc and eth etc so i think huge market surge is comong in next few years.

They are definitely not the the future. Bitcoin is.

Governments have been trying to develop their own cryptocurrency in order to draw their population to it than focus on bitcoin. This is their motif and I am sure most of the critical minded people have already realized this.

Although it may seem strange but Petro is also the same, though the good thing is that their economy improved by its usage. If you ask me, I would not invest my money in any government sponsored scheme but only in bitcoin.

Currently various countries have tried to reduce the circulation of banknotes in the market by regulating digital money. Cryptocurrency made by the government will be a necessity because the government sees the potential of cryptocurrency to avoid counterfeiting money.

I do see governments having their own digital currencies in the future but to completely eliminate physical cash, they (governments) have to deal with fixing their own internet connections first or make it possible to send digital currencies offline.

Governments will issue their own cryptocurrency and there is no doubt about it. It will most likely be in the form of stable coins of their own national currencies or several currencies of different states. I would not say that this is the future, but such a cryptocurrency should be widely used and become one of the common means of payment.
If you look at the reaction of the world states about the appearance of the Libra coin, then it is clearly visible that states see how big such a cryptocurrency can have on the global financial system.

The most likely outcome will be that governments will use a permissioned (or private) blockchain for their own needs. There are so many benefits that Blockchain technology provides, which are too hard to ignore by worldwide governments. They just need to establish a proper regulatory framework in order to allow the blockchain industry to grow in areas far beyond reach. Considering that it's been only 10 years since Blockchain's inception, a lot of progress has been made in such short time. As far as I know, governments are still researching Blockchain tech looking for ways how to implement it towards our current economic system. Once they know the ins and outs of the Blockchain, they'll launch a digital currency effectively replacing physical hard cash as we know it. People will find it hard to adapt towards this change (especially old generations), but they'll become accustomed to using digital money over time.

In terms of the government-issued currency's value, there will be not much difference after all. Everything will be the same, except that money will become completely digital and versatile like never before. It would be surprising to see big nations like the US and Russia announcing their own digital currency within the not-so-distant future. Eliminating physical cash in its entirety will prove to be beneficial for the world's environment (and the government too as they won't have to deal with printing money, and other issues). Hence, it may not be long before government-issued digital currencies become a reality within the future. Just my thoughts

If a government will create their own crypto currency then the future of it will depend from their own people support. Even it will not become a successful in the entire crypto market when launched but if it was fully supported by their people then it will be surely it has their own future. Is just like the UK pound that did not relying on Euro currency because it has the full support of the English people.

So far, I don't think I've seen any reports that a major country is planning to issue its own cryptocurrency. As of yet, I've only seen Venezuela and I believe Antigua too.

However, I do believe that there will be a cryptocurrency representation of most fiat currencies in time, however, they will almost certain run on a permissioned blockchain, and simply be a stablecoin like Tether, rather than a new unit of value in and of itself.

This is true only when the blockchain underlying the crypto-currency is open and accessible to anyone, i.e. decentralized, i.e. fraud and corruption cannot occur because the network is large enough that collusion to alter the state of the blockchain is impractical.

Now, is this what a government is/wants?

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!

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?