Topic: Government Will Use Blockchain But Crypto Currencies Will be Ignored? - page 3. (Read 482 times)

If the government sees positive things about using Blockchain technology  in their advantage nobody will  stop them but they should also think the ownership of the technology.The technology are intended for cryptocurrency . Then if they use the technology they should also pay what is good for the owner of the technology. Because of intellectual property  rights.

Governments will for sure be using Blockchain technology, it should simplify the processing for many different services or assets. Dubai has recently announced that they wish to run the majority of their government services on the Blockchain by 2020.

Yes, the blockchain is a technology, and the cryptocurrency, led by bitcoin, is just a token created to support these technologies. So the government is not against blockchain technology, and they are against the idea of using blockchain technology as a cover for money.

Governments are really just trying to buy time for themselves till they can figure out how to properly tax cryptocurrencies and make money from the market which is why they seem so against it right now.

So far it's true what friends say, almost every country has implemented Blockchain Technology for their own banking interests for the speed of their financial transactions.

Meanwhile bitcoin itself they ignore because its value is volatile. If I analyzed more closely with what the government is doing I think that is right. Apparently, the government has been thinking more about the dangers of bitcoin volatile value which tends to be manipulated by third parties (whales) which can destroy the state's finance are constantly (as is the case today).


"If the value of bitcoin volatile cannot be manipulated, perhaps more than most countries already many are adopting bitcoin."

I agree on this they may integrate on blockchain then can create token and that will not involve on any cryptocurrencies which is good start. But how can they make such token if they won't apply on smart contracts?? well, this is a good start and i know it will be on mainstream media sooner.

Blockchain technology would be a big help especially to the monitoring of funds as this is a big issue to the government agencies in which corruption always happen due to mismanagement of funds and having no proper documentation, the information can easily be manipulated. If there is blockchain technology, it would be easier to track the funds because it is all recorded in the system and no one can just easily delete or alter such data. This can be done without using cryptocurrency so I think cryptocurrencies would eventually be declared as illegal if the government have a strong opposition to it or will just be treated like stock but there would be applicable rules as there are no specific rules in majority of the countries.

I am happy now that our government is not oppose to cryptocurrencies and even allowed some platform to operate so that the people can easily buy and sell it but maybe if they see that there is already uncontrollable funds that they cannot monitor properly then they would ban it and declare it as illegal. Blockchain technology would be useful in many aspects of the transactions but cryptocurrencies can be disregarded.

I have also thought about this whole thing in the past and what you say is fully correct. Governments can create their own cryptocurencies using blockchain technology and they dont have to take control of bitcoin. This is not about bitcoin or other coins. It is about blockchain and I am sure governments will take advantage and actually use this technology to take control over the cryptocurrencies because after all governments can control almost anything because they have the whole power in a country. Governments dont have to bann cryptocurrencies, they just have to create one of their own coin then sell it to people's so that it becomes very popular and become the lider.

There's a chance that government will implement the new technology which is blockchain because it will have a good impact in the technology of a certain country, but nevertheless the government will still ignored the cryptocurrency especially bitcoin because we all know that this is decentralized digital currency and the function of the government is to control and maintaining their economy. Probably, there will be a possible thing that if they will adopt the blockchain, they will create their own cryptocurrency.

Well that's the only thing that they're going to be able to use which is going to help them, if they were to accept crypto then they're just going to be shooting themselves in the foot. They're going to be asking to lose power, which isn't going to be something which is going to help them -- they're not going to willingly give up their power.

Cryptos are just asking for them to lose. Theey want to maintain control, like any government does.

    Blockchain and cryptocurrency technology can benefit the global economy Japan is an example after facing several finacial strategies now Japan has legalized crypto currencies . Even though Blockchain and crypto currency technology are in its infant stage they have become the greatest technology advances since internet have started .Blockchain technology is a good sign for small and medium business companies. The central bank doubts about the stability and value  and privacy of this digital currency. If the government is ignoring crypto currency they will lose control over the supply of currency over the world.

Its not suprising actually, in my country Indonesia the government also told the same thing and i think every countries around the globe also thinking about the blockchain system that will improve ledger and sorting database finding however they won't thinking about changing the flat currency into crypto because that is far too risky for the economy and as we see there are lots of scam lurking with new ICOs everyday. Its too money-consuming and need extra attention from government if they really want to adopt cryptocurrencies into daily use.

I don't think bitcoin is a total waste, but rather than turning flat currency into cryptocurrencies which government will never approved 100%. Its better to turned bitcoin as asset like gold and silver for investment purpose rather than daily purpose. Government will only reap from blockchain technology and taxation from bitcoin transactions, but will never implement it as currency.                                                                                                                                                                                           

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.

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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.

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Now reading the title one more time :
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?