Will countries or central banks create their own cryptocurrency? - page 11.

spyerf

full member

Activity: 378

Merit: 103

Quote from: waqasniaz007 on February 16, 2018, 01:56:48 AM

A few countries and central banks have been talking about “digital currency”, and most of them are carefully ignoring the term “crypto”. Fact is- digital currency is not the same as cryptocurrency. These countries/central banks are recognizing the benefits of the digital currency features of cryptocurrency, but they don’t want any of the decentralized uncertainties that come with blockchain-based currencies.
Will countries or central banks create their own cryptocurrency?

yes i think it can happen, its definitely its use is more controllable. but may not be in the near future, as digital currencies are currently unacceptable across countries.

Alns

sr. member

Activity: 602

Merit: 250

I think they just would be forced to invent something otherwise they would just be killed by new transforming economy of crypto

squog

full member

Activity: 462

Merit: 100

ANONYMOUS MOBILE PAYMENTS

I really they aould especially if they have the resources for it. With countries and multinational companies, they can easily pump up the prices and actually maintain it till a number of investors can do it themselves. Of course countries could opt to ban any other crypto currencies do that their currency will be the only one in the market.

jmigdlc99

sr. member

Activity: 784

Merit: 282

Quote from: waqasniaz007 on February 16, 2018, 01:56:48 AM

A few countries and central banks have been talking about “digital currency”, and most of them are carefully ignoring the term “crypto”. Fact is- digital currency is not the same as cryptocurrency. These countries/central banks are recognizing the benefits of the digital currency features of cryptocurrency, but they don’t want any of the decentralized uncertainties that come with blockchain-based currencies.
Will countries or central banks create their own cryptocurrency?

Have you seen how Venezuela's "petro" cryptocurrency panned out? It was a flop worse than your average shitcoin ICO.

The problem with the idea of each country creating their own crypto is that it contradicts the purpose of cryptocurrencies in the first place. Crypto was designed to be borderless and free from centralization. Crypto is here to make the world a better place and not be a rehashed version of our current financial system.

Scripture

full member

Activity: 1303

Merit: 128

Im thinking of this last time. I guess they can create their own cryptocurrency based on their local currencies and use them for cryptocurrency transaction from country to country. In this way, countries will require to have a local crypto and it would be legal all over the world.

Raufjoze

jr. member

Activity: 317

Merit: 1

most people do not believe in a centralized and controlled local currency, and just want to focus on decentralized crypto and I've heard before that some countries are starting to create their own centralized cryptocurrency, and encourage their citizens to use it, but the response is not encouraging now

BitcoinMarketer39

full member

Activity: 392

Merit: 100

ADABsSsSsSsSSSsS

Quote from: waqasniaz007 on February 16, 2018, 01:56:48 AM

A few countries and central banks have been talking about “digital currency”, and most of them are carefully ignoring the term “crypto”. Fact is- digital currency is not the same as cryptocurrency. These countries/central banks are recognizing the benefits of the digital currency features of cryptocurrency, but they don’t want any of the decentralized uncertainties that come with blockchain-based currencies.
Will countries or central banks create their own cryptocurrency?

Those banks should not ignore cryptocurrency because it is a threat to their business, if every people in the world chooses to use cryptocurrency more than placing their fiat or cash in the banks then they will lose a huge amount of profit or earnings from tax and government will be affected.

Bitcoincole

full member

Activity: 504

Merit: 102

Quote from: pitiflin on February 16, 2018, 02:33:30 PM

Quote from: cellard on February 16, 2018, 12:54:10 PM

You should watch the show Mr Robot. In the season 2 it goes full crypto, and there is a way of governments vs Bitcoin. The script predicts what I was predicting myself, and that is, a future in which governments want to control 100% what you do with no possible notions anymore for privacy, except they didn't count with bitcoin delivering financial freedom.

They have a cryptocurrency (developed by E Corp) that is closed source and they control everything and they hate Bitcoin since it bursted their Orwellian dream's bubble.

Whoa.. Mr.Robot seems to be the new fap - material Grin

To the OP, countries have already started to create their own coins but who gives a shit. It will never come close to bitcoin due to obvious reasons. There ain't no shit to worry about.

I think anything is possible for different countries or central bank to create their own cryptocurrency since they have the power, the influence and the resources to do so. However, it may take a lot of time but still not impossible to be realized.

spongegar

full member

Activity: 476

Merit: 100

I'm pretty sure they'll do that. Since both banks and countries have resources enough to pull it off. The coin is pretty much useless without a project and both a country and bank could provide one. Imagine a country or bank having they're own wallet to do and exchange with. That's actually awesome.

Alns

sr. member

Activity: 602

Merit: 250

Banks would never accept cryptocurrency being that way they are right now, so they need to change their statements for the first step

lehuong

newbie

Activity: 168

Merit: 0

Central banks do not like to hear about cryptanalysis because the bank itself will not manage as well as control the financial situation and the total number of btc that people are holding.

tikanurqaidah

full member

Activity: 322

Merit: 100

in my country Bank Indonesia claims to be reviewing the use of modern integrated transaction logging technology (blockchain), including reviewing to issue the central bank digital currency (CBDC) for domestic payment system. this is very good because the times of this all sophisticated is very needed

slyfox

member

Activity: 350

Merit: 10

Quote from: Linhkej on June 01, 2018, 11:01:32 PM

Quote from: waqasniaz007 on February 16, 2018, 01:56:48 AM

A few countries and central banks have been talking about “digital currency”, and most of them are carefully ignoring the term “crypto”. Fact is- digital currency is not the same as cryptocurrency. These countries/central banks are recognizing the benefits of the digital currency features of cryptocurrency, but they don’t want any of the decentralized uncertainties that come with blockchain-based currencies.
Will countries or central banks create their own cryptocurrency?

I do not think they will create their own electronic money, instead, they will cooperate with Crypto companies to expand their business model.
I think that is the best option because the banks have been listed on the stock market. They have enough capital to carry out their business and investment strategies, so they will not need to be listed on the Crypto market anymore.

If governments are smart they are not going to delegate the responsibility and the privilege to print money to anyone else, if you take the time to think about what makes governments powerful you will soon realize they are that powerful, not only because of their size and the amount of information they have about you, they are powerful because they can print money.

Indai24

member

Activity: 448

Merit: 10

Quote from: thecoder2017 on June 07, 2018, 08:47:53 PM

Maybe some countries are planning to create their own crypto currencies but they must be equipped with that modern blockchain technology because its different from fiat money so maybe they will have a hard time to implement their own coins.

Yes I believe some countries may create their own cryptocurrency but I guess it's gonna be hard for them to create their own. It needs to have a thorough research and must be studied as well.

thecoder2017

member

Activity: 280

Merit: 10

Maybe some countries are planning to create their own crypto currencies but they must be equipped with that modern blockchain technology because its different from fiat money so maybe they will have a hard time to implement their own coins.

Polkadott

jr. member

Activity: 125

Merit: 1

in my country The central bank is reviewing the existence of cryptocurrency and blockchain and I think this can happen. creating a digital currency for their own country whose prices are not easily changed

BlackBeauty

member

Activity: 308

Merit: 10

Quote from: ROB18 on June 06, 2018, 06:57:29 PM

There is a possibility that banks will do this. I remember attending a seminar in one of the top university in the Philippines and they quoted that central bank is very much interest in the blockchain technology as it possess a lot of aspects to facilitate government processes efficient and cost effective. But with regards to crypto, I'm sure they will venture to it on a manner that they have a proper regulation. Let see

Yes i think they will create their own digital currency because they saw to people that how people take interest in bitcoin so that's why banks will create a crypto currency but i know it will never beneficial as like bitcoin and people will fear from it and that's why banks crypto currency will fail in short period.

ROB18

full member

Activity: 380

Merit: 100

There is a possibility that banks will do this. I remember attending a seminar in one of the top university in the Philippines and they quoted that central bank is very much interest in the blockchain technology as it possess a lot of aspects to facilitate government processes efficient and cost effective. But with regards to crypto, I'm sure they will venture to it on a manner that they have a proper regulation. Let see

supercanada1

sr. member

Activity: 798

Merit: 253

Quote from: JeramiParan on June 06, 2018, 06:37:14 AM

Theres a possibility that central banks create their own cryptocurrency if they adopt the system. Bitcoin is very known today, if i were a bank owner thinking about the profit then i must accept bitcoin and its system.

But even if the central banks create their own currency, it will not be Bitcoin and another type pf technology. Even if you are allowed to invest in the currency issued by the central bank, you might know nothing about Bitcoin if you move to a country where Bitcoin is legal. I think there should be a same decentralized system of Bitcoin which will enable the users to use it anywhere around the world.

Sled

hero member

Activity: 1680

Merit: 535

Bitcoin- in bullish time

Quote from: BeGoods on June 06, 2018, 07:18:10 AM

Quote from: lekegami on June 05, 2018, 04:26:31 PM

While governments are wary of creating their own crypto currencies. They have not yet decided on the general policy in the crypto market and what consequences for them can from its development.

I think they will not do that, they hesitate to create a crypto because their system is different from the government's financial system. even though the government is a developer they will not be able to be a controller in their own crypto, since the crypto system itself is decentralized

It depends on the type of cryptocurrency because even it is called a cryptocurrency then there is still an option for itself to be decentralized or centralized. Just like Ripple, which is one of the well known and one of the top cryptocurrency, overall, it is a centralized cryptocurrency because it is more on into banks.

Topic: Will countries or central banks create their own cryptocurrency? - page 11. (Read 3216 times)