What if every country has its own crypto currency - page 21.

Afrizky R

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Quote from: donalfonso on June 01, 2018, 05:20:42 AM

Wouldnt it be nice if each country in the world issues its own crypto currency just like they issue sovereign bonds and they raise funds from there to fund projects in their economies. I know Venezuela tried to do something like that, but the project was already being killed by the governments opponents before it took off. Now lets assume that didnt happen could it be a good way to create some form of sanity and confidence in the crypto world.

of course, this will have a good impact for the country, surely a lot of advantages for them and can make this become quite difficult.

but it is not easy for a country to have their own crypto if the rules in that country prohibit it and not accept it

tiga huruf

newbie

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in my opinion that is not a good thing. if each country has its own crypto currency then it is the same as the paper money that is finally managed by the government. and the more crypto currencies the more tight the market competition and making the road to getting rich is very difficult.

laskybok

jr. member

Activity: 315

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If different countries have their own cryptocurrency, it means that crypto will no longer obey the rule of decentralization, rather it will be centralized. Governments will now have control over crypto. This in a way might destroy the vision behind crypto and i do not think it is going to happen.

Dart18

sr. member

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Sanity? Are you telling that we are insane here? Grin

If it did happen then it will boost some parts of the government to make actions on how it did happen. There will be surveys of how people interact with it and is it really making their life easier.
You cannot just go to the high amd middle class. Since it is crypto people will need a device to make it work. Can everybody afford a smartphone to make it happen. How about security? Is it safe to just do a transaction everywhere?
I bet it will make a large impact. Bad and good side.

VoDanh1122

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Activity: 80

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Quote from: donalfonso on June 01, 2018, 05:20:42 AM

Wouldnt it be nice if each country in the world issues its own crypto currency just like they issue sovereign bonds and they raise funds from there to fund projects in their economies. I know Venezuela tried to do something like that, but the project was already being killed by the governments opponents before it took off. Now lets assume that didnt happen could it be a good way to create some form of sanity and confidence in the crypto world.

The problem is if you have a national cryptocurrency it's a central one, controlled by the government. This is not good. The can abuse it for it's own interests, get informations about the utilization or manipulate it.

tomwell

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Not every country legalized cryptocurrency there are very few countries who legalized cryptocurrency. Yes it Would be nice if each country in the world issues its own cryptocurrency just like they issue sovereign bonds and they raise funds from there to fund projects in their economies, but it might not happen because if it happens there will not be any difference between these central cryptocurrencies and banks.

Asmonist

sr. member

Activity: 756

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Eventually I think it will come up to that soon. Just like what we have now with our local currencies. Every countries have different level of economy. However, it would take a long time to do so for now since regulations and policies are to be establish if that would be the case. Somehow for me its quite chaotic. Its like the battle of greatness.

skelethon

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Quote from: donalfonso on June 01, 2018, 05:20:42 AM

Wouldnt it be nice if each country in the world issues its own crypto currency just like they issue sovereign bonds and they raise funds from there to fund projects in their economies. I know Venezuela tried to do something like that, but the project was already being killed by the governments opponents before it took off. Now lets assume that didnt happen could it be a good way to create some form of sanity and confidence in the crypto world.

I think Estonia was trying to do this as well. They wanted to create a national coin called estcoin, read more about it here https://www.coindesk.com/estonia-inches-closer-to-national-crypto-token-launch/

rellor

full member

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I think that if each country has its own crypto currency, then this will definitely lead to strict control by the state. This means that there will be no freedom and anonymity.

PonyBoy

full member

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I elieve, if that would ever happen, the world would be nothing different than it is right now when everybody has its own currency

kakaword

newbie

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I think this is a good idea, but it is very difficult to achieve this goal. If the cryptocurrency becomes the national currency, then the existence of the bank will have no value. I think this is not allowed by the country, so this is not. Possible.

Jaycee99

sr. member

Activity: 1036

Merit: 273

Maybe if that happend it would be good but I would lile to say as a person if a speacific country like yours or mine has its own cryptocurrency It will be treated as 2nd option of payment this are this that could happen.

1. It could be the e-payment for everything that you want and credit card may havr the possibility of being faced out.

Things like:
Food
Clothes
Appliances
Things that is used for cooking
Gadgets

If this happened this would be very cool.

If it will happend and government crushed it its sad why? Because government might lose everything and they might think the possibility of cryptocurrency taking over and negative things might accure.

Maybe not because I can see that they can use it cryptocurrency to their advantage like if they get to know it they can use it to get money because of trading and if we pay for the tax government employees can use it

Ycekezuv

jr. member

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Probably in this case the whole sense in banks will disappear, and they will become useless to nobody!

Inuldarahrendah

newbie

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actually, not at all countries can accept cryptocurrency, many countries especially developing countries that still prohibit cryptocurrency outstanding. certainly, it will inhibit the development of cryptocurrency in the world. the thing that we can do is to use cryptocurrency well and show to people that cryptocurrency is like a regular currency, it's just that the price is much more expensive.

Henisusan

sr. member

Activity: 658

Merit: 250

I think most countries don't yet think about it. Some countries still forbid the presence of the cryptocurrency and most of them think that crypto is illegal. Therefore, it seems to be difficult to know it.
If every country has their own cryptocurrency, I think that it may allow and legal the crypto. However, it may also limit the ability of the other cryptocurrencies to be accepted in that country. Well, it is such blundering. But overall, I think it may be a well-advanced progress if the country has their own cryptocurrency.

EMRO CEO

newbie

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I think the biggest flaw in every country having its own crypto currency is that its too easy to manipulate the markets

bamb

sr. member

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So far the coin issue by those countries are not centralized i.e is full decentralized , run on open software and it is borderless in nature, and it can be held by anyone on the planet, it will be all good for cryptocurrency and it's ecosystem!

The_prodigy

hero member

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Quote from: bealoveall on June 06, 2018, 03:01:25 AM

If by that time all the cash would have gone away. Financial management will be transparent and tax evasion will not be possible. However, with some very corrupt countries, the government does not like this. LOL Grin

well, if each countey has it's own cryptocurrency I don't think that this market will build because if there's only a cryptocurrency in only their country, it's obvious that their cryptocurrency are only around in their country. and the cryptocurrency will not be famous as now because we know that there's country that doesn't care to the cryptocurrency

bealoveall

newbie

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If by that time all the cash would have gone away. Financial management will be transparent and tax evasion will not be possible. However, with some very corrupt countries, the government does not like this. LOL Grin

mastadonballs

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Merit: 100

I think it's really normal

. On the cryptocurrency market at the moment, there are so many cryptocurrencies and not all of them come from the same country, some of them come from US, some others come from China, India, Dubai, and some others countries,....I think almost countries in this world already has their own cryptocurrency but the problem is they still don't legalize these cryptocurrencies as a local currency yet Wink

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