Will countries or central banks create their own cryptocurrency? - page 16.

goku1525

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Quote from: naidray on March 18, 2018, 01:43:45 AM

Quote from: Febriana98 on March 12, 2018, 05:52:35 AM

Quote from: waqasniaz007 on February 16, 2018, 12:56:48 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?

it's true that digital currency differs from cryptocurrency, and I read in an article that many big Banks are already working with IBM Blockchain to use Blockchain technology from IBM and maybe after this many banks will make their own cryptocurrency.

let us hope so, but I believe over the years, a whole lot will end up changing in the world of cryptocurrency considering the level at which things are turning out gradually with a lot of countries trying to see how they can embrace the idea of blockchain technology at large and get to see how it can favor the economy in the process. It is already happening and I will not be surprised if we start seeing some increase in numbers.

If central banks create their own currency its totally wasting of time because they cannot beat bitcoin efficiency as the matter of fact bitcoin is the most popular coin all over the world I think it will remain the number one currency and has a futuristic currency.

naidray

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Quote from: Febriana98 on March 12, 2018, 05:52:35 AM

Quote from: waqasniaz007 on February 16, 2018, 12:56:48 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?

it's true that digital currency differs from cryptocurrency, and I read in an article that many big Banks are already working with IBM Blockchain to use Blockchain technology from IBM and maybe after this many banks will make their own cryptocurrency.

let us hope so, but I believe over the years, a whole lot will end up changing in the world of cryptocurrency considering the level at which things are turning out gradually with a lot of countries trying to see how they can embrace the idea of blockchain technology at large and get to see how it can favor the economy in the process. It is already happening and I will not be surprised if we start seeing some increase in numbers.

tylerderden

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Quote from: waqasniaz007 on February 16, 2018, 12:56:48 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 actually believe that countries and Central banks would definitely issue their own cryptocurrencies as they are quiet fascinated by the idea of the cryptocurrencies but as you have written that they would only take the digital part.

forklif

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Actually there is no problem if a country makes its own digital currency, but there must be a certain policy and acceptable to society, but for now I have not found a country that makes its own digital currency.

p i e c e

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Quote from: waqasniaz007 on February 16, 2018, 12:56:48 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?

Already, some countries are creating their own crypto currency, but it does not have such huge success as bitcoin or other promising altcoins. I think from this venture it will not work out anything good.

Viyamore

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Quote from: waqasniaz007 on February 16, 2018, 12:56:48 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 believe that not all countries will create their own cryptocurrency.
First, it requires them a lot of investments fo itt and of course, timeline is very important. It is not like he fiat that can be printed. May I know why did you say that cryptocurrency is different from digital currency? Shall you expound the asnwer?

Fazlurkhan.kz

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Just in the fear of vanishing completely, banks might take any necessary steps to prevent their demolition be it creating a new DIGITAL or CRYPTO currency. As people would not like any further continuation of the old ritual of banks having control over their wealth.
Not to miss all the big whales making money through banks, they would take any required step to protect the banks.

UzumakiSakuragi

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Quote from: jeanne513lefe on February 25, 2018, 11:05:45 PM

I think it is something that they would put into consideration, because it reduces transaction costs and is easier to track even the smallest transactions.
However, I don't think that countries would likely create a cryptocurrency with an anonymous feature in it. They won't be able to take taxes if they do so.

Why not if cryptocurrency and the new technology Succed they might consider of implementing same pattern of system . reduced transaction fee and much easier..

adzino

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I don't think we will need those "centralized" coins and will be totally a waste. We already have a ton of digital currency (not crypto currency) like paypal and skrill. Why would we need more of those shitty stuffs? Just to fool people and get their mind out of "decentralized" concept?

Martinkuhn

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I am certain blockchain will be used for currencies for countries in the future. But this will be a cryptocurrency that will be subjected to monetary "manipulation" by the monetary authorities so in that sense, it is exactly the same as fiat except there is no paper printing involved

kefir56

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I think they will, but not now, maybe when the blockchain technology will be spread all around the world, and not be banned by countries

Naficopa

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I am pretty sure that they are already trying to create their own currencies based on blockchain technology. In the case of spread of cryptocurrency they will have a finished product, which are able to control.

YourHumbleCorrespondent

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Only one is doing so now, and it's a scam.

But others are bound to start soon, even though the BIS is having apoplexy over the prospect. I wrote this up a couple days ago: https://medium.com/@WilliamFreedman/poor-misunderstood-bis-needs-a-hug-28c92a5de99d

Apaxy

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Quote from: Ferylero on March 17, 2018, 05:51:38 AM

Quote from: waqasniaz007 on February 16, 2018, 12:56:48 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 guess they are going to create their own crypto, but will it those type of cryptocurrency we are used to? We have to be ready to high taxes, awful fee and hard regulations.

you are absolutely right, this is now while we are calmly feeling, When still the crypto currency is not under the control of any authority or structure. But when the process of legalization begins, we will still remember these times.

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Quote from: waqasniaz007 on February 16, 2018, 12:56:48 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 the 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 so. Central bank countries around the World must have plans to create their own crystals in their country. Because these banks know that the digital currency is very profitable for each person and even the state. We'll see the progress later.

pinkpanther03

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Quote from: Theo222 on February 16, 2018, 01:20:57 AM

Quote from: makoto_takemiya on February 16, 2018, 01:14:41 AM

I don't think any country will create a fully public, P2P, blockchain-based cryptocurrency. Instead they will create currencies on blockchain platforms that are permissioned and that can be controlled.

japan already planning about this one thats why some of the japanese investors pullout their money in bitcoin because they want to have japanese coin.

Yeah I heard that news also, that why they've decided to regulate bitcoin to their country. Because of this, this one is the next thing for them to do and implement it to their country. If they want it to happen for real it will be like an altcoin digital currency also isn't right?

ArnoldChippy

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Quote from: Ferylero on March 17, 2018, 05:51:38 AM

Quote from: waqasniaz007 on February 16, 2018, 12:56:48 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 guess they are going to create their own crypto, but will it those type of cryptocurrency we are used to? We have to be ready to high taxes, awful fee and hard regulations.

I think some countries have already created their own crypto currencies while other are taking interest to create. Its means that now the countries are accepting the importance of crypto currency, but still i would also like to add that any other crypto currency cannot be compare with bitcoin, and all the countries of the world have to accept bitcoin as their main currency.

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Quote from: Ferylero on March 17, 2018, 05:51:38 AM

I guess they are going to create their own crypto, but will it those type of cryptocurrency we are used to? We have to be ready to high taxes, awful fee and hard regulations.

There's no problem if it's only about the fees, we're used to it and we experienced it with bitcoin when it's on its all time high and there's an attack spam to the network.

But what's bad with this, a country that will own a crypto is really not giving investors an opportunity on what coin to choose for holding or usage.

This can eventually be implemented by the government and the theme of crypto as decentralized digital money will be gone, we all know when the government joins there is regulation, control and centralization.

Ferylero

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Quote from: waqasniaz007 on February 16, 2018, 12:56:48 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 guess they are going to create their own crypto, but will it those type of cryptocurrency we are used to? We have to be ready to high taxes, awful fee and hard regulations.

Kevin77

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Quote from: Sengoko on March 12, 2018, 03:15:22 AM

Quote from: Riddikulo on March 11, 2018, 01:51:51 PM

Quote from: waqasniaz007 on February 16, 2018, 12:56:48 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 have not heard about the banks, but several countries are going to create their own cryptocurrency.

https://news.bitcoin.com/putin-cryptoruble-sanctions-bank-of-russia-skeptical/

Many other crypto currencies have been developed so far and coming to market on regular basis. If every country accepts such challenge and become a horse in this technology race then ultimate results will help such crypto world flourish and enhance. Many people are still losing hopes in bitcoins as they see so many other altcoins, people, believe in bitcoins, they are best.

It would take some time but we are getting closer gradually. It takes just one to start and then others will start using that particular one as a case study in terms of the benefits that can be derived from it.

For instance, Japan went all the way to regulate cryptocurrency at large as well as the exchanges and the GDP within that period had a substantial increase which is assumed that the regulation was a fuel for that and then others are trying to take the same steps, I believe this is the same thing that will end up happening with countries creating their own cryptocurrency.

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