I heard Dubai will also be creating their own cryptocurrency.
https://cointelegraph.com/news/dubai-will-issue-first-ever-state-cryptocurrency
India launching a cryptocurrency would be a big step towards the mass adoption of crypto (which I think is still quite far away)
Topic: india may launch its own cryptocurrency - "lakshmi" - page 3. (Read 978 times)
Looks like they are just pulling the strings to get the profits from crypto currencies. I don't understand why country like India wanna go for crypto currencies. They don't have that much infrastructure to handle all the mess that might arise from it. It's not just about that but also other major issues in India like farmers are not living the lifestyle they should live, they don't even get food for one time being a farmer because they just dint have much value in the market. They should solve such internal issues first then move towards digital stuff like crypto which is like futuristic to India, no offence by the way.
I dont think this would get succeeded into market if each govt proposes her own crypto forgetting their current fiat. Really interesting part is that, the govts are seeing a great impact of crypto currency and its secured system best than their current fiat system. Adaption of new things are welcomed. Maintaining the current fiat system is very challenging for the government than adapting a new crypto currency.
Governments/Banks cannot compete in the cryptocurrency environment. They will fail because they lack skill and brain power.
It looks like quite a few countries and banks are planning to launch their own cryptocurrencies. It is indeed a very interesting development.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
Countries and banks just try to get in on the profit. If they see what bitcoin did in a couple of years, you can't blame them for trying to get a piece of the cake. However like with fiat money it's so stupid that if you go abroad you need to exchange your money for foreign currency. What bitcoin can do is making 1 universal coin for all countries. Hope this new trend is soon to be taken down and bitcoin will rise as the sole contender.
You are right. Countries and banks can even start their own crypto-currencies, but if it will be only valid in that one country, bitcoin will still be THE global payment method.
Bitcoin is better considered as an assest as it is not suitable for day to day payment transactions. For payment methods, new coins and tokens are and will dominate the market. That's one reason why we're seeing individual firms making their payment tokens.
If you think it is about the volatility then it is same for all tokens. Can these tokens provide security like Bitcoin? Or Have you seen anyone accepting new tokens as a payment? It's just NO! There are shitload of other alts trying to compete with Bitcoin, some are good and majority of them are just dust
It has nothing to do with governments wanting to have their own currency, but some important people trying to make a profit. This will not affect bitcoin, not in the long term. But it shows that there's a growing interest.
It looks like quite a few countries and banks are planning to launch their own cryptocurrencies. It is indeed a very interesting development.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
Some months Citibank announce that they gonna lauch their own altcoin soon and they gonna adopted bitcoin payment system.
However, developing country like India cannot o with bitcoin payment option and earning method as they have the over population in the country and other educated people will affect because of it
First Dubai then India if all that report applied that means we are in the right track for government official adaptation to blockchain technologies .
Thank you
Thank you
It looks like quite a few countries and banks are planning to launch their own cryptocurrencies. It is indeed a very interesting development.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
The point is the all of the official cryptocurrencies will be centralized, taking the core concept of bitcoin and digital currencies out of it. Only good thing that can happen with this is more people may end up understanding about bitcoin and its value.
But your concern is correct too, it can go either way, lets just hope for the bitcoin sake that it only boost it.
It looks like quite a few countries and banks are planning to launch their own cryptocurrencies. It is indeed a very interesting development.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
Countries and banks just try to get in on the profit. If they see what bitcoin did in a couple of years, you can't blame them for trying to get a piece of the cake. However like with fiat money it's so stupid that if you go abroad you need to exchange your money for foreign currency. What bitcoin can do is making 1 universal coin for all countries. Hope this new trend is soon to be taken down and bitcoin will rise as the sole contender.
You are right. Countries and banks can even start their own crypto-currencies, but if it will be only valid in that one country, bitcoin will still be THE global payment method.
Bitcoin is better considered as an assest as it is not suitable for day to day payment transactions. For payment methods, new coins and tokens are and will dominate the market. That's one reason why we're seeing individual firms making their payment tokens.
It looks like quite a few countries and banks are planning to launch their own cryptocurrencies. It is indeed a very interesting development.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
Countries and banks just try to get in on the profit. If they see what bitcoin did in a couple of years, you can't blame them for trying to get a piece of the cake. However like with fiat money it's so stupid that if you go abroad you need to exchange your money for foreign currency. What bitcoin can do is making 1 universal coin for all countries. Hope this new trend is soon to be taken down and bitcoin will rise as the sole contender.
You are right. Countries and banks can even start their own crypto-currencies, but if it will be only valid in that one country, bitcoin will still be THE global payment method.
It looks like quite a few countries and banks are planning to launch their own cryptocurrencies. It is indeed a very interesting development.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
Countries and banks just try to get in on the profit. If they see what bitcoin did in a couple of years, you can't blame them for trying to get a piece of the cake. However like with fiat money it's so stupid that if you go abroad you need to exchange your money for foreign currency. What bitcoin can do is making 1 universal coin for all countries. Hope this new trend is soon to be taken down and bitcoin will rise as the sole contender.
According to a report in Business Standard, sources in the government said that a committee was set up to discuss the proposal of having India’s own cryptocurrency, as an alternative to the Indian rupee. the reserve bank's chairman said in a committee that they are not comfortable about the non-fiat cryptocurreny like bitcoin. so they launch there own cryptocurrency in india known as "lakshmi". also this would require the amendement of the currency act. So could this decision lead to a major effect on the market of bitcoins or not???
these so called governments are nothing but a banker cartel...
It looks like quite a few countries and banks are planning to launch their own cryptocurrencies. It is indeed a very interesting development.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
According to a report in Business Standard, sources in the government said that a committee was set up to discuss the proposal of having India’s own cryptocurrency, as an alternative to the Indian rupee. the reserve bank's chairman said in a committee that they are not comfortable about the non-fiat cryptocurreny like bitcoin. so they launch there own cryptocurrency in india known as "lakshmi". also this would require the amendement of the currency act. So could this decision lead to a major effect on the market of bitcoins or not???
Jump to: