Topic: Will countries or central banks create their own cryptocurrency? - page 13. (Read 3237 times)
June 01, 2018, 10:30:44 AM
it can happen, because they have authority from the government, maybe their goal is to create cryptocurrency to compete with bitcoin.
June 01, 2018, 09:06:09 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?
will i never been heard a news feed thats there some countries create their own cryptocurrency in order to competite into the first one running now cryptocurrency,otherwhile there some issue in the country of china,that they prohibited to enter some foreign ICO project,because they want to make their own cryptocurrency in there own country,but those collaboration about some country and central bank,i thinks that news is absurd.
June 01, 2018, 08:47:38 AM
I heard before already that some countries started to create their own centralized cryptocurrencies, and encouraging their citizens to use them, but the response is not encouraging right now, because most people dont believe in such centralized and controlled local currencies, and want to focus only with the decentralized crypto.
June 01, 2018, 08:37:55 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 think It is possible countries or central banks will create their own crypto currency. Because Crypto is the future currency, It will be needed in the future.
June 01, 2018, 08:33:54 AM
I think it's very possible and ideal, the world and the era must have changed and the presence of blockchain would be a solution to make it easier for anyone in the transaction, I'm sure cryptocurrency is the money of the future.
June 01, 2018, 08:11:24 AM
I think it could happen if the government or the country has seen and can assess the development of a good cryptocurrency and if the country has a clear cryptocurrency regulation then the bank or country can make its own cryptocurrency.
June 01, 2018, 07:21:04 AM
Countries or Central Bank will try to create a digital currency but they will not keep it uncontrollable. Because the bank will try to keep tax on it.
June 01, 2018, 12:16:14 AM
I don't think so, because in a first place they are against bitcoin because it some kind threat to them losing their clients and investor it like a rival to them that is why in some country they banned bitcoin and for them it has effect in their economy.
[State cryptocurrency watch]
This news item is about one week old:
Marshall Islands Officially Make Crypto Their Sovereign National Currency
I guess it will be some kind of Tether-like "backed stablecoin", only that the issuer is a state and not a private business.
This news item is about one week old:
Marshall Islands Officially Make Crypto Their Sovereign National Currency
Quote
Their new national cryptocurrency is called the Sovereign (SOV) and will be the official legal tender for businesses and the 53,000 citizens of the Pacific islands.
I guess it will be some kind of Tether-like "backed stablecoin", only that the issuer is a state and not a private business.
Here is list of countries which launched or are going to launch their digital currency.
1. Ecuador
2. Tunisia
3. Senegal
4. Sweden
5. Estonia
6. China
7. Russia
8. Japan
9. Venezuela
10. Israel
according to https://www.verdict.co.uk/bitcoin-countries-digital-currency/ where you can se more informations.
We are moving from paper money to digital or crypto currencies with fast steps these days.
1. Ecuador
2. Tunisia
3. Senegal
4. Sweden
5. Estonia
6. China
7. Russia
8. Japan
9. Venezuela
10. Israel
according to https://www.verdict.co.uk/bitcoin-countries-digital-currency/ where you can se more informations.
We are moving from paper money to digital or crypto currencies with fast steps these days.
That could be possible too because the government and banks can simply hire a group of people to make a crypto currency for them. This is really possible because the government and banks might get an idea from Ripple which is also a cryptocurrency that is backed with big banks across the globe.
Many states and central banks will soon create their own centralized crypto currency, which can be fully managed, as opposed to the existing decentralized crypto currency. They will try to confuse people, and since they can not stop the general introduction of a decentralized crypto currency, they will try to shift people's interest in using their centralized coins. After all, the total mass of people is still difficult to understand the differences of these crypto-currencies. Decentralized and centralized digital coins will walk for a long time in parallel with each other and this will be a good competition for the championship.
I read some news recently (cannot remember the country but I think in UK or so) trying to explore the usage of cryptocurrency and already working on something. I am sure this is the stage we will get in with the blockchain technology eventually.It is obvious that so many countries are starting to research on the benefits that lies with the technology and before we know it, this would start becoming a trend among each countries coming up with theirs and the currency system going digital.
Highly possible because when cryptocurrency becomes the most preferred currency by people all over the world,then central banks will be left with no choice but to create and fully accept cryptocurrency.This is the future and no one can stop change.
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?
But are they against a blockchain based currency of their own as well or are they having issues that funds are changing ownership without them possibly knowing?
I think governments more then everyone else could benefit from having cryptocurrencies in use but it will never be bitcoin or any other altcoin and the currency will need to be controlled by them (which is possible, e.g. private blockchain with HL).
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 think that banks are already aware of the importance of digital money, maybe they intend to create digital currencies that belong to their own countries, but we think that the digital currency created by the bank is actually similar to the French currency. It is a central currency that is not really encrypted.
Technically the USD could be moved into Blockchain and become a crypto currency. I do not see how this would not be possible.
Can the US then still endlessly produce new USD coins? Most likely.
Does it solve any real problem? No.
Will this be the end of Bitcoin etc.? I don't think so.
I personally did not move into crypto just because of the technology but because of the ideology and a bank or government issued token will simply never satisfy this. No matter what technology they put behind. Of course a simple blockchain transaction would be preferred compared to annoying international wire transfers but that is just usability and I don't believe that usability was the driver for cryptocurrencies all alone.
Can the US then still endlessly produce new USD coins? Most likely.
Does it solve any real problem? No.
Will this be the end of Bitcoin etc.? I don't think so.
I personally did not move into crypto just because of the technology but because of the ideology and a bank or government issued token will simply never satisfy this. No matter what technology they put behind. Of course a simple blockchain transaction would be preferred compared to annoying international wire transfers but that is just usability and I don't believe that usability was the driver for cryptocurrencies all alone.
This is possible in coming future but before regulation must be there because govt. can't control decentralize currency (P2P currency).
But if countries have come up with their crypto than trade will be more easy between nations, But there will be problem how govt. will control the inflation rate of crypto.
But if countries have come up with their crypto than trade will be more easy between nations, But there will be problem how govt. will control the inflation rate of crypto.
I bet they will soon start to make their own cryptocurrency or they can integrate crypto in their system because lots of money are circulating right now in crypto industry and i bet they are eager to enter this industry. But i've still seeing news in my country that central banks are spreading bad news about cryptos.
Yes, there are some signs from the government that we might see something blockchain based currencies by the governments and as we all know, there are some banks already testing blockchain technology to optimize their transactions. However, it doesn't make any sense to me that centralized authorities are launching their blockchain based currencies because the core principle of blockchain is all about decentralization and I am sure that government won't lose the majority of the stake from such projects.
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