Topic: Small Island Nations - should they have their own Crypto currencies? - page 2. (Read 353 times)
January 25, 2018, 12:44:50 PM
It can help economically but on what reach this country has connection to the riches of the world, strongly matters. This would be a good start for them, then it should be done immediately. If a crypto coin is endorsed or legally backed up by a specific government then there is a big chance it will be as much successful as bitcoin, as the investors won’t hesitate to spend hundreds or thousands of dollars to it. The only problem is, if this country public officials are not controlled by the central banks officials then it has a chance to prosper.
January 25, 2018, 07:17:57 AM
Should small island economies like Jamaica,
Malta, Seychelles, Cook Islands etc develop their own Crypto currencies?
What is the way for these small economies
to be part of Blockchain world ; and use to improve their trade
and economics with rest of the world?
There is no use in creating separate crytpo currencies for each countries because we can use any crypto currency anywhere in the world the only requirement is internet.But if they want to create they can also create and they can limit their coins to unlimited or desired level of the person who is setting the maximum level.But it won't get value like other crypto currency like bitcoin because the price of bitcoin is just based on the supply and demand so specific crypto currency of a country will just act as their fiat currency there may be no change in the value.But their transactions are safe due to P2P transaction. Malta, Seychelles, Cook Islands etc develop their own Crypto currencies?
What is the way for these small economies
to be part of Blockchain world ; and use to improve their trade
and economics with rest of the world?
January 24, 2018, 02:20:19 PM
If a small country did create a coin, they wouldn't have to pay a 3rd party to print currency.
But with that being said, It would also cost less just buying a coin and then running an off chain exchange to deal with the transactions in country. This would also give the people the ability to transfer out of the country to buy stuff.
Like if East Timor that uses USD, took that USD to the US then purchased something.
Having a small pool could also have some price stability too.
But with that being said, It would also cost less just buying a coin and then running an off chain exchange to deal with the transactions in country. This would also give the people the ability to transfer out of the country to buy stuff.
Like if East Timor that uses USD, took that USD to the US then purchased something.
Having a small pool could also have some price stability too.
January 24, 2018, 11:54:15 AM
Should small island economies like Jamaica,
Malta, Seychelles, Cook Islands etc develop their own Crypto currencies?
No, it won't help them. There are countries who created their own cryptocurrency they were ignored and it's no implemented. Malta, Seychelles, Cook Islands etc develop their own Crypto currencies?
People will stay on bitcoin.
What is the way for these small economies
to be part of Blockchain world ; and use to improve their trade
and economics with rest of the world?
They can use the technology itself "blockchain" on their banking system or if there's a company there that's willing to apply it. to be part of Blockchain world ; and use to improve their trade
and economics with rest of the world?
January 24, 2018, 09:43:47 AM
It will be very difficult to do. The economies of all countries integrated into the world economy. If the key players of the financial market would support the ban of cryptocurrency around the world the island States will not stand a chance. In addition, the cryptocurrency is not controlled by government and regulation of economic processes with its help it is impossible.
January 24, 2018, 08:37:08 AM
Should small island economies like Jamaica,
Malta, Seychelles, Cook Islands etc develop their own Crypto currencies?
What is the way for these small economies
to be part of Blockchain world ; and use to improve their trade
and economics with rest of the world?
It would be a good transition but this decision would be entirely depending on the government views related to blockchain technology or do create their own cryptocurrency since they do have a small vicinity this would be a good idea. Im not seeing any countries or places did such thing but sooner or later we would able to witness that thing because decisions would really be made.If they would go with such innovation or would stick into traditional ways. Malta, Seychelles, Cook Islands etc develop their own Crypto currencies?
What is the way for these small economies
to be part of Blockchain world ; and use to improve their trade
and economics with rest of the world?
January 24, 2018, 08:23:42 AM
Should small island economies like Jamaica,
Malta, Seychelles, Cook Islands etc develop their own Crypto currencies?
What is the way for these small economies
to be part of Blockchain world ; and use to improve their trade
and economics with rest of the world?
Malta, Seychelles, Cook Islands etc develop their own Crypto currencies?
What is the way for these small economies
to be part of Blockchain world ; and use to improve their trade
and economics with rest of the world?
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