Government Will Use Blockchain But Crypto Currencies Will be Ignored? - page 2.

NoviceInvestor

newbie

Activity: 113

Merit: 0

Quote from: Xester on April 04, 2018, 10:54:38 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.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: 7788bitcoin on April 04, 2018, 08:59:14 AM

i am certain that bitcoin will be there in the future, but i am not sure about the tokens and other coins.

Even tokens have a place in this ecosystem, where we are already experiencing that while tokens are being put in the securities category, they still are allowed as long as they register themselves with the appropriate department.

I think within a few years we will see a different market on each level, where each token has to register itself in each country it wants to be available in, while they now still operate in a gray area, and thus have luck on their side.

In the same way, I do expect a similar approach that will apply to altcoins, or to newly created altcoins. No way will it remain this easy to develop a shitcoin and get it listed on whatever exchange. I expect some harsh actions here.

bitart

hero member

Activity: 1442

Merit: 629

Vires in Numeris

Quote from: SixOfFive on April 04, 2018, 04:29:54 PM

This would not be a surprise if it happens. Already many countries have said about their intentions of doing the same thing. The blockchain will bring many advantages to the country such as regulatory compliance, transparency, quality assurance, smart contracts, etc. And yes, the government will surely ignore Bitcoin as they will never want cryptocurrencies to replace the fiat currency.

They don't want it to replace the fiat money, but they can accept it, like it was a currency of a foreign country. In this case, bitcoin can be accepted and of course, taxed. Like you are not forced to use your national fiat in your country, it's just easier to use that. If you want, you can use USD in the EU countries, they will accept your USD fiat (or you have it exchanged to the local currency) but it's an accepted currency. This can happen to bitcoin, if the countries will regulate (and accept) it.
When you pay with your debit/credit card, the merchant doesn't care if the card is denominated in EUR or USD, in the end they will have the money, this can be true for bitcoin too, if you will use a bitcoin debit card (if there will be a working one with cheap fees), merchants won't care about it, they will accept it if the card will be a VISA or MasterCard. The situation will be a bit different if it's about direct bitcoin payments...

SixOfFive

sr. member

Activity: 630

Merit: 257

This would not be a surprise if it happens. Already many countries have said about their intentions of doing the same thing. The blockchain will bring many advantages to the country such as regulatory compliance, transparency, quality assurance, smart contracts, etc. And yes, the government will surely ignore Bitcoin as they will never want cryptocurrencies to replace the fiat currency.

akashark

member

Activity: 387

Merit: 12

It can be happen in future but in our country government will not use blockchain platform too. they banned bitcoin and all other cryptocurrency. Blockchain is a great invention in this century, and I hope government will know this platform 's facility. But it is bitter truth that lots of country will not use bitcoin or blockchain. Hope for the best

Gabriellefull

newbie

Activity: 98

Merit: 0

Quote from: wantjokull on April 01, 2018, 11:47:24 PM

Since many years bitcoin lurking around the blockchain which is nothing but its boundary. However both of them are still different and we can choose from them.

BLOCK-CHAIN : Is self sustaining platform, decentralised one and if you want to use it then you are free to do so. Taking that into consideration great smart contracts were produced already such ETH on which different ICO projects are now being evolved.

BITCOIN : Just an algorithm or contract that runs on the BLOCK-CHAIN for its own existence and is valued separately depending upon the demand-supply and investments that are being made into it. It is more or less helpful in different applications such as transactions, storing the value, and all the processes of investing it and growing your earnings. This comes when the end user is going to use it. This all happens over the block-chain itself.

Now reading the title one more time :

Quote

Government Will Use Blockchain But Crypto Currencies Will be Ignored?

We always keep reading that

Government is going to BAN the crypto currencies/Bitcoin.
Government is not able to understand the useful aspects of this New-Technology (Referring to Blockchain)
Government will never regulate the block-chain and thus they will turn it into centralised one etc.

But do we really need to ask such questions ?
Do you guys really think government will ever care about the Bitcoin if they started exploring the applications of Block-Chain and just ignore the crypto currencies?
Its decentralised thing, we can use it freely then obviously Government can do the same too?
They can manage to create whole new world of crypto's or may be gov-crypto's and may spread the word about it, ignoring the existence of whole crypto currency that we see today?
Have you guys ever had such questions on your mind? How do you propose this matter in long terms?

Cryptocurrency creation is a way to reward blockchain technology. But this is used by some criminals to defraud money. When the government study block chain technology, I don't think they need to reward, they can use cash, so the encryption currency may not be attention, this is a big possibility

Doge dealer

sr. member

Activity: 462

Merit: 252

definitely governments , and even private organizations have started to explore and develop their own private blockchain technologies and they have said as much so definitely blockchain tech has been pretty much accepted already, their is no evidence however to suggest that they will ignore crypo currencies as the reports that have come out of all the major economic meetings this year has been positive towards crypto currencies , infact the release from the US congress was very encouraging .

Dudeperfect

hero member

Activity: 1190

Merit: 534

This technology is so amazing that governments are willing to use it for the optimization of the process and improve overall efficiency. However, they don't want this to happen in the financial sector where power will be in the hands of the users. Many blockchain based good concepts are coming up but there are many obstacles to the growth but still, I am optimistic about the involvement of Blockchain in many sectors in next 10 years. It would be an irony if the government is using blockchain technology because the concept of blockchain is all about decentralization.

Xester

hero member

Activity: 994

Merit: 544

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.

pumbum

full member

Activity: 434

Merit: 100

who would know, maybe bitcoin is also a Pro-government technology, which is designed to identify the need for such technology and its refinement. as for the blockchain, it has been used for a long time, but it is not decentralized. the technology is not new

rahul10948

full member

Activity: 378

Merit: 114

I think the more technology government approved or worked the more awarenesses will come and if people want to be the part of this technology then the only way is buy holding the coin..itself ..I think the government postive action on block chain adoption will automatically lead to crypto currency volume...until and unless gov banned trading which is not going to happen

7788bitcoin

legendary

Activity: 2282

Merit: 1023

It is really difficult to predict the exact decisions that are going to make by the governments around the world, some might ban it altogether while the major nations might embrace it, there is not doubt that blockchain will be used in many aspects of society in the future, i am certain that bitcoin will be there in the future, but i am not sure about the tokens and other coins.

ganlianshifu1

member

Activity: 392

Merit: 10

Block chain technology is applied to the government information system, and the security of the system will be greatly improved.

Block chain technical government work is more transparent, can regulate the tax behavior!

The government has the money to maintain the blockchain, and does not need to issue an encrypted currency to raise the cost of maintenance!

cleygaux

sr. member

Activity: 656

Merit: 250

In my opinion governments will likely to use blockchain technology in the near future because they can see a lot of potential how this technology will help them to record publicly some transactions but on the contrary they are too strict in giving regulations into virtual currencies that uses this blockchain technology and i really dont know why they are so afraid with it.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

I think most of the governments are ignoring the blockchain and cryptocurrencies because they think it will disrupt the traditional banking systems through which they are making profits right now. 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. The government can create their own coin and circulate it. Althought the coin would be centralized , they will be able to make profits from it. This can be a gateway for cryptocurrencies and the blockchain.

catok broek

full member

Activity: 406

Merit: 100

Some governments are using blockchain, although they don't legalize ctyptocurrencies.
Blockchain is not always about crytocurrencies, it also can be used for financial recordings etc. blockchain is about digital codes that can solve safety and certainty problems for many corporations.

kingcolex

sr. member

Activity: 254

Merit: 1258

I expect tons of groups to adopt the block chain technology but I also expect this to instill and gain understanding and trust into this technology. This will lead to the average Joe understanding that it can't just be hacked.

bright4mech

member

Activity: 588

Merit: 18

Government no have time or using crypto-currency. But it approved by any government, blockchain and crypto-currency move together as husband and wife, blockchain alone is an empty wallet, because, what makes it sweet is the Crypto inside it. In other words Blockchain Technology is own by a person, them need to pay to the before using it.

cryptohunter

legendary

Activity: 2100

Merit: 1167

MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

all speculation and drivel here.

btc is being viewed as currency already in japan and germany

more will adopt it

maybe governments are sick and tired of being the ass puppets for banksters and want freedom from that shit

they will get their huge chunks of crypto through taxation anyway

the gov will always get their cut........ maybe they are sick of giving most of it back to bankster who piss it all away on huge bonuses and gambling

of course blockchain has many uses outside of just currency that many groups including governments will utilise.

lisasteca

sr. member

Activity: 574

Merit: 250

I have read of many hypotheses of public projects based on blockchain technology. We need patience for the use of cryptocurrencies. A government must necessarily protect users and guarantee a stable currency of exchange.

Topic: Government Will Use Blockchain But Crypto Currencies Will be Ignored? - page 2. (Read 554 times)