With varying rules and regulations for very nation, it is a challenge to make cryptocurrencies or at least the most popular coin as a mode of payment. Omnipresence of crypto will only become a reality when it has a diverse acceptance.
It is a challenging path ahead, but with crypto’s structure and beneficial features, cryptos cannot be ignored. It will continue to manage to stay strong amongst all the hurdles being faced. Just continue to trust in it. Crypto will prevail as we move towards a more digital future. Do you agree?
Topic: Government Will Use Blockchain But Crypto Currencies Will be Ignored? (Read 482 times)
August 26, 2018, 10:58:22 PM
August 22, 2018, 09:28:14 PM
I do not think that. The Government will review and evaluate this. Besides the use of blockchain technology, I believe that the government will also put Bitcoin into the currency market. But to do that, Bitcoin, in my opinion, must be governed by clear, protect the interests of investors. So people can feel secure, believe in electronic money.
July 05, 2018, 06:01:50 AM
US gov has like 20,000 or more bigger fish to try. also if trump cuts government spending, how are they going to fund going after btc onramps/offramps. not likely.
July 05, 2018, 06:00:22 AM
They can't ban something that they can't control.
But they can say "it is prohibited to use", but is just a say, with no value or action. Those words remain words and NOTHING can stop Bitcoin to be used.
Is like saying "from now on we ban breathing"... Ok so? People will continue breathing.
But they can say "it is prohibited to use", but is just a say, with no value or action. Those words remain words and NOTHING can stop Bitcoin to be used.
Is like saying "from now on we ban breathing"... Ok so? People will continue breathing.
July 05, 2018, 06:00:12 AM
I do not think there will be any ban anymore. An arrangement may be made for ICO processes, but this will not have much effect.
July 05, 2018, 05:59:14 AM
No government can effectivily ban bitcoin (or any other digital record keeping system). They can ban exchanges and thus create another huge ilegal market, for only criminals and terrorist to use it. Governmets don't know yet, but their mafia taxing methods, money printing business and totalitarian money controls are coming to an end.
July 05, 2018, 05:58:20 AM
They can't ban bitcoin, but they can ban exchanges and adoption.
Of course this would not eliminate the presence of bitcoin, just as heroin ban doesn't make heroin go away, only opens up opportunities on black market and skyrockets the price in that particular market
Of course this would not eliminate the presence of bitcoin, just as heroin ban doesn't make heroin go away, only opens up opportunities on black market and skyrockets the price in that particular market
July 05, 2018, 05:57:50 AM
Blockchain is one the most useful inventions of all times . Blockchain is completely necessary for today's world. For that reason, All of the governments want to have blockchain technology to have better economy. However, they are afraid of supporting cryptocurrencies because They do not have legal regulation about cryptos.
July 05, 2018, 05:54:55 AM
they could stop the sale of goods and services for bit coin. This would affect shops and other physical fixed locations, but would not stop people doing quiet deals on the side. For example tradesmen often often discounts equal to the GST (VAT) rate for cash payments, and something similar could be done with bitcoins.
July 05, 2018, 05:54:01 AM
No, but they could drive it underground and drop it's price.
They could ban the redemption of currency for bit coins. However even with tough enforcement people would still find a way of exchanging them - it just would get more complicated. People could always just exchange physical cash for bitcoins.
They could ban the redemption of currency for bit coins. However even with tough enforcement people would still find a way of exchanging them - it just would get more complicated. People could always just exchange physical cash for bitcoins.
July 05, 2018, 05:52:55 AM
The governments can’t ban something they can’t control, if they would like to destroy it, they would have to erase every node in the network which is nearly impossible - All the computers which contain the blockchain history need to be put offline.
July 05, 2018, 12:40:39 AM
yeppp, the government would prefer blockchain but would bypass the release of electronic money or support it. Because they want to run the country, they have to master the economy.
June 12, 2018, 08:37:14 AM
It might be true but they must take this into consideration that blockchain is an emerging technology and it can be used fro numerous purposes. I think the government will still develop the Crytocurrency market.
April 30, 2018, 04:27:35 PM
There already is one government that created it's own cryptocurrency: Venezuela introduced the Petro, in order to evade the sanctions from the US.
Banks and authorities would rather ban cryptocurrencies, they are a threat to their centralized system. But they will use the blockchain, because of the benefits. In fact, they will create their own crypto and regulate decentralized cryptocurrencies.
Banks and authorities would rather ban cryptocurrencies, they are a threat to their centralized system. But they will use the blockchain, because of the benefits. In fact, they will create their own crypto and regulate decentralized cryptocurrencies.
April 30, 2018, 04:16:18 PM
most of the governments on similar notion blockchain is revolutionary technology but crypto currencies are for money laundering
April 23, 2018, 02:44:44 AM
By the time as the Ministry of Finance changed their minds, the blockade had influential supporters among Russian statesmen. As the interlocutors of Medusa say, Vnesheconombank Chairman Sergey Gorkov became seriously interested in the first technology, he took the topic of the president of Sberbank German Gref - and through Gref, First Deputy Prime Minister Igor Shuvalov became interested in crypto-currencies. They became the main crypto-enthusiasts in power.
April 19, 2018, 09:01:57 AM
If you are already aware about what happened in India in the recent couple of weeks. The Govt. formed a committee to learn about Blockchain tech and also BTC, this happened as far as early 2015 when BTC was around 500-600$ and many people from India was showing interest in the tech as well as in the investment aspect of BTC.
The Govt. took a neutral stance and only warned the citizens about 'insecure' nature of BTC since they clearly did not understand what BTC was. May be they gave such a picture since there were many investment and mining scams that took around that time. Anyway, last few weeks was a real rollercoaster ride when the central bank (RBI) sent out a circular to all banks under its jurisdiction to refrain from serving any kind of business or Individuals who were dealing in crypto. There was a massive panic sell at that point and now situation is quite certain that there is no more be any BTC action in India. The committee they formed learned about blockchain tech however and many banks are using it and there is also a rumor that the central bank may release a crypto for Indians.
The Govt. took a neutral stance and only warned the citizens about 'insecure' nature of BTC since they clearly did not understand what BTC was. May be they gave such a picture since there were many investment and mining scams that took around that time. Anyway, last few weeks was a real rollercoaster ride when the central bank (RBI) sent out a circular to all banks under its jurisdiction to refrain from serving any kind of business or Individuals who were dealing in crypto. There was a massive panic sell at that point and now situation is quite certain that there is no more be any BTC action in India. The committee they formed learned about blockchain tech however and many banks are using it and there is also a rumor that the central bank may release a crypto for Indians.
April 19, 2018, 09:00:24 AM
I do agree with this topic. Government will surely adopt the technology leaving behind the cryptocurrencies. The government all around the world does really need blockchain technology to be integrated in their system, it will not only provide transparency but will make things run smoother. Cryptocurrency on the other hand is not necessary since fiat currency is already in existence and if a country will decide to go digital they will create their own currency online.
I agree with this. There are just too many advantages for governments to start up their own cryptocurrencies to assume that they will just adopt existing coins.
April 19, 2018, 08:54:49 AM
If governments will use blockchain then we can say that bitcoin had influence in them. If they choose to ignore cryptocurrency then i think it is not important because digital currency is decentralized and government have no control over it so ignoring on their end is not important.
April 19, 2018, 08:41:34 AM
I do not quite agree with that. I believe the government will use Blockchain technology to finance. And the Crytocurrency market is a trading trend of the future. It is too convincing for the managers of the country. I think the government will still develop the Crytocurrency market. I suspect that the government will create a new altcoin to replace Bitcoin in digital money trading operations. This is more feasible.
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