There is already a stablecoin for several different fiat currencies, though most of course target the US dollar since this is widely considered to be the world's reserve currency.
The cryptocurrency industry is still growing, and its growth is currently fastest among economically developed countries.
Since the majority of these countries and their citizens consider the dollar to be the world's base currency, there is little demand for stablecoins for other native currencies.
That said, Tether did just release tether gold (XAUT) and will likely release a tether euro soon. Beyond that, I can't imagine we'll get stablecoins for less prominent cryptocurrencies in the next year, due to the aforementioned lack of demand.
Topic: Stable coin for Every Currency - page 2. (Read 773 times)
If that never happens, and if no one or any organization has come forward to spread the coin, I can say for sure that they will lose the big gains. So to have time to take action on it.
Depends on how it will be done. I basically hate USDT as it is, so if some private company from Bahamas will do something like that, I will not be supporting any of it, in any nation at all. However if a proper bank type of place or a government does it, then we could support it.
I was an avid supporter of Libra for example, it is facebook and they would basically track all of your spending to make sure they give you better ads, destroying all of privacy that we worked so hard of, however they would still be better than tether who just prints out money and doesn't even back it at all. So all in all if done properly it is a great idea, if done poorly it is just a cash cow for some company, do it right and you will get a lot of customers for it for sure.
I was an avid supporter of Libra for example, it is facebook and they would basically track all of your spending to make sure they give you better ads, destroying all of privacy that we worked so hard of, however they would still be better than tether who just prints out money and doesn't even back it at all. So all in all if done properly it is a great idea, if done poorly it is just a cash cow for some company, do it right and you will get a lot of customers for it for sure.
If that happens and it is not decentralised then we go back to what currency used to be before cryptocurrency came. Hitherto, the block chain idea also comes with other concepts on it like data sharing and App management. It is not all about currency exchange
Definitely it is the batter plane for the coin pumping, many organization will be profited form this type of step. The government of the country and also root level traders will be profited as well as more than present terms. So, It should be happen.
Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
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I see more likely governments will crate digital coin of their currencies. Of course tether can also do it. Or any other company. But that token is still a digital national currency coin. Nothing else.
I don't think Tether will go that extent of creating new stable coins for each coin. That would be a whole lot of job for them to earn money. Already, they are minting new Tether almost everyday and making profits. I think governments would rather venture into the creation of their own stable cryptocurrencies to be used as a payment choice in their country.
Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
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PS- Self-moderated thread to prevent spam.
I believe once cryptocurrency gets more adoption, every country that fully legalizes the activities of cryptocurrency will create their own digital currency. This point is validated by the proposed cryptocurrency to be created by china. I believe other countries will follow suit as governments will always want to dominate any sector as much as possible. However, let's wait for what the future holds
If the presence of stable coins then I'm very sure the cryptocurrency will be accepted in every country because it has its own advantages in getting profit, and most of the first spam prevention should be designed if not then That's where the inhibition that will happen, if later Crypto is already received in every country then I believe in every country will also create each coin.
crypto is even at this stage of its acceptance and trust because of the emergence of stable coins which are like safe havens for traders. I also agree with your point that no country will really make another person's private coin a national treasure unless all delegating power belonged to them and that why China has created its own coin. Other countries will emulate their success and follow suite I believe
Yes, It would be happen for all cytpo market holder. The possibility of stable coin currency creating more expected thinking for online traders when constancy will be breach down. I think we all need our own stablecoin and that should be accepted globally without any issue.
I think when cryptocurrency get a global adoption and countries develop interest to get unto the industry, they have to be more careful as things can go wrong in this regard. We have seen hacking from one exchange to another and sometimes exit scams between some notable individuals. For any government to create their own cryptocurrency, they must ensure they're ready to take responsibilities of what happen after the launch. Hope to see global adoption soon, as the pandemic has unravel the fiats as weak type.
I agree with your words, there will be benefited both team along as acute row. because of when all of the cryptocurrency are covered by it then use case of the stability will be must for exchange anywhere in any country. so from this points it is needed to create coins.
There are some way for creating the coin as stable at whole world. If the law conducted by decentralized team's then it would be essay for the government for marketing the supplied coin among the crypto peolpe and who relevent with those system.
It is more possible for nations to create their own stable currencies but I still think that we need one or two good examples of that helping nations create some sort of reserves with it in order to show the other nations how it could be beneficial for them.
We still don't know how stable coins could be tracked or not and we are not in a situation where we want non-traceable currencies by governments since they would basically working against themselves if they do that and the amount of money they make from that would be less than money they would be losing from tax evasion or money laundering. As soon as nations figure that thin line out and find a way, I am sure they will do it perfectly.
We still don't know how stable coins could be tracked or not and we are not in a situation where we want non-traceable currencies by governments since they would basically working against themselves if they do that and the amount of money they make from that would be less than money they would be losing from tax evasion or money laundering. As soon as nations figure that thin line out and find a way, I am sure they will do it perfectly.
if in fact almost all countries have adopted or implemented cryptography, then perhaps each country will create its own stable coins.
yes, it will also make it easier for people to switch to fiat without having to do it to peg to the US dollar, we know that peg is on almost the entire market, but the availability of stable coins for each country will certainly be better.
yes, it will also make it easier for people to switch to fiat without having to do it to peg to the US dollar, we know that peg is on almost the entire market, but the availability of stable coins for each country will certainly be better.
Definitely there are a lot of possibilities for government to go for their own stablecoin in the near future. Because, I guess every government wants to be part of cryptocurrency industry and with such stablecoins it will be easier for them to enter into our crypto space.
We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain. All I can guess is, there will be no need of going for some new crypto or all new cryptocurrencies related things for having a stablecoin, they may simply make their fiat into blockchain. This way, your view of stablecoin for every country may come into live.
Yes. When governments are rushing for adopting cryptocurrency and blockchain technologies, what you have mentioned must be the most appropriate way for them to easily enter into this market. Government may legalize crypto currencies or may not but definitely they will be preferring to how their own stablecoin which could be their already existing fiats.We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain. All I can guess is, there will be no need of going for some new crypto or all new cryptocurrencies related things for having a stablecoin, they may simply make their fiat into blockchain. This way, your view of stablecoin for every country may come into live.
I just wonder what are the advantages we will be enjoying by having our local fiat on blockchain. I mean to say what are the privacy issues may rise up due to this and also what will be the exact consequence of such stablecoins by government is going to provide will be my actual curiosity but only time will answer all these.
Well the value of stablecoin of each country will still have its ups and down comparing it to the digital currency of other countries just as it is today when we look at forex market. There is however changes though such as the central banks can be traced if they are creating more stablecoins. Transparency is there and we know how much they created since its in the blockchain.
Transparency I guess is one advantage. Paperbills gets lost and I think this is one of the reason why China planned their digital currency too.
Definitely there are a lot of possibilities for government to go for their own stablecoin in the near future. Because, I guess every government wants to be part of cryptocurrency industry and with such stablecoins it will be easier for them to enter into our crypto space.
We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain. All I can guess is, there will be no need of going for some new crypto or all new cryptocurrencies related things for having a stablecoin, they may simply make their fiat into blockchain. This way, your view of stablecoin for every country may come into live.
Yes. When governments are rushing for adopting cryptocurrency and blockchain technologies, what you have mentioned must be the most appropriate way for them to easily enter into this market. Government may legalize crypto currencies or may not but definitely they will be preferring to how their own stablecoin which could be their already existing fiats.We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain. All I can guess is, there will be no need of going for some new crypto or all new cryptocurrencies related things for having a stablecoin, they may simply make their fiat into blockchain. This way, your view of stablecoin for every country may come into live.
I just wonder what are the advantages we will be enjoying by having our local fiat on blockchain. I mean to say what are the privacy issues may rise up due to this and also what will be the exact consequence of such stablecoins by government is going to provide will be my actual curiosity but only time will answer all these.
Stablecoin for every currency may not be a reality anytime soon but i think it will happen in 5 to 10 years because not only international payments become easy but local payments, salaries, taxes and even shopping becomes easy and cashless and also each transaction can be checked and tracked anytime.
I think we can use usdt to pay something, but so far, usdt is not used for the payment even for bitcoin. It still only a few merchants or local stores which is using crypto as the payment. Maybe in the next 5 or 10 years later, we will see this will happen, and who knows, bitcoin will be used for the payments. It could happen for every country to have their own coins, but I don't think that will be a stable coin.
Definitely there are a lot of possibilities for government to go for their own stablecoin in the near future. Because, I guess every government wants to be part of cryptocurrency industry and with such stablecoins it will be easier for them to enter into our crypto space.
We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain. All I can guess is, there will be no need of going for some new crypto or all new cryptocurrencies related things for having a stablecoin, they may simply make their fiat into blockchain. This way, your view of stablecoin for every country may come into live.
We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain. All I can guess is, there will be no need of going for some new crypto or all new cryptocurrencies related things for having a stablecoin, they may simply make their fiat into blockchain. This way, your view of stablecoin for every country may come into live.
Of course there are possibilities,,, but remember just because a goverment issues its own crypto does not mean it is good for the economy or even good for us. Just look at the whole big scandal of Petro,,, for sure now so many people are angry at virtual currency that anyone can just make one and control it, worse if it is a state!
Where it's all going to end will be non volatile coins and volatile coins, Bitcoin will remain and so other coins but all countries will have stable coins backed by their own Fiat, I don't expect anything more than this
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