Topic: What if a Country were to start its own Cryptocurrency - page 2. (Read 2686 times)
I don't think it would be rational for a country to start a cryptocurrency based on Bitcoin technology. The basic ideas of accounts, transactions, and confirmations make sense. But where the lack of a central authority is not an advantage, there's no reason to make all the compromises bitcoin makes to get that.
What if a country were to start its own cryptocurrency based on Bitcoin? What would they change? They could have a different method of initial distribution. For example, the govt could premine all the coins and then divide them equally among all their citizens. Or the govt could start owning all the money but then how would the citizens get the coins? Maybe the govt would want the ability to reverse transactions. They could print print paper currency and exchange it to people at coinbanks when people deposit their cryptocoins. The govt could have 1 central bank where all accounts must be held. Cryptocurrencies could be ushering in the era of Big Brother instead of guarding against him. What do you think?
Jump to: