Venezuela has already made an ICO of its national cryptocurrency, Petro, backed by oil, and if I remember well it has raised 735 Million $, and it's now planning another currency backed by gold. And the news has just come in that now also Iran plans to make a national cryptocurrency.
Sooner or later, also governments of the rest of the world will follow.
Topic: Will countries or central banks create their own cryptocurrency? - page 20. (Read 3216 times)
February 23, 2018, 03:45:02 PM
February 23, 2018, 10:18:23 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?
February 23, 2018, 09:57:11 AM
In China, the central bank is preparing to issue digital money!
They feel that the development of digital currency is bringing new opportunities and challenges to the monetary issuance and monetary policy of the central bank.
They feel that the development of digital currency is bringing new opportunities and challenges to the monetary issuance and monetary policy of the central bank.
February 23, 2018, 09:42:35 AM
Venezuela has just created the first crypto currency emitted by a government, the Petro.
Allegedly every Petro is backed up by one gallon of oil. The first day brought the government 735 million US dollars.
Now they want to give out more Petro and emit another currency backed up by gold.
I see that developement very skeptical.
Allegedly every Petro is backed up by one gallon of oil. The first day brought the government 735 million US dollars.
Now they want to give out more Petro and emit another currency backed up by gold.
I see that developement very skeptical.
February 23, 2018, 09:29:46 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 that many countries will try to create their own crypto currency, but these attempts will not be successful. Crypto currency was created for the purpose of anonymity and decentralization, and government crypto currency will not have such features.
February 23, 2018, 09:19:46 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?
February 23, 2018, 07:36:02 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.
I am still looking forward to when we will start seeing moments as this. Blockchain technology has proven to be the future and from the look of things, CBN on behalf of federal government in most countries are starting to create groups aimed at seeing how they can benefit a lot from the technology. Obviously, whatever they create will still de centralized, but at the end, they all end the same old currency but with the difference being on the blockchain. 
February 22, 2018, 08:44:12 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?
February 22, 2018, 08:34:20 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 read an article recently in my country with the Central Bank warning people on cryptocurrency, stating categorically that is an uncontrolled environment and that was the excuse they came up with. So, there fight is not on cryptocurrency but the idea of decentralization, which we both know that even in their adoption, whatever cryptocurrency they create will end up centralized anyway.
February 22, 2018, 12:10:01 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?
February 21, 2018, 08:47:58 PM
Having a hard time would be a bit of an understatement. It is literally the same slave like system but on a blockchain. Putting the world blockchain in front of what you are doing won't all of a sudden make it free, open, censorship resistant, neutral, and decentralize the currency now would it? If it is centralized it is still crap and that is likely what would happen here with these government backed coins.
Centralized crypto currencies issued by a bank or government are the worst possible forms of 'progression' the financial world can go through. If people think they are a slave of their bank or government already, wait for what's going to happen once you are locked up in their ecosystem entirely. Currently you at least can take out money from an ATM and conduct transactions manually in a peer to peer manner. Once cash is going vanish entirely, which is just a matter of time, you will be left with nothing but an ecosystem where the bank tells you what you can spend your hard earned money on. Without centralized crypto currencies, we are heading towards such an economy already, but once they force you to use their fiat tokens granting them more control than ever, you can consider yourself to be a 2.0 slave. People shouldn't fall for that garbage and adopt Bitcoin asap.
February 21, 2018, 08:34:49 PM
I think it's possible. They can make and release their own digital currency, but the main point here is if it will be useful for their banks and if people will appreciate this digital currency. If we're going to talk about digital/crypto currencies, still decentralized cryptocurrencies are much better than those centralize that will/might be released by them. There will still be more people to stick to this decentralized cryptos than centralized ones where there are possibilities that it can be controlled by this banks or by government.
February 21, 2018, 08:26:14 PM
It is possible that this will happen in the future especially those with advance and modern technologies but for those countries that can't cope up with these they will had a hard time to create their own crypto currency.
Having a hard time would be a bit of an understatement. It is literally the same slave like system but on a blockchain. Putting the world blockchain in front of what you are doing won't all of a sudden make it free, open, censorship resistant, neutral, and decentralize the currency now would it? If it is centralized it is still crap and that is likely what would happen here with these government backed coins. 
February 21, 2018, 07:49:11 PM
Why not? , for me, everything is possible in the era of cryptocurrency. Because this field has changed everything to the best in the economic area and there become a facilitator of transactions and many other advantages which are more profitable from the previous period ( Before the era of cryptocurrencies). On the other hand, If there is a continuing this success, then it is expected that some countries (which is strong in the economy) to make their own currencies to take benefit of the advantages of digital currencies on their economy.
Furthermore, There is some news says that Ripple (XRP) created by some successful banks and their goal is to overcome " Bitcoin" and when we see that their market cap is very huge compared to other currencies, where their prices are low, then we conclude that this currency (Ripple) are made by banks or countries.
So may be some countries makes currencies in a secret way .
Furthermore, There is some news says that Ripple (XRP) created by some successful banks and their goal is to overcome " Bitcoin" and when we see that their market cap is very huge compared to other currencies, where their prices are low, then we conclude that this currency (Ripple) are made by banks or countries.
So may be some countries makes currencies in a secret way .
February 21, 2018, 06:34:43 PM
It is possible that this will happen in the future especially those with advance and modern technologies but for those countries that can't cope up with these they will had a hard time to create their own crypto currency.
February 20, 2018, 12:50:51 PM
According to the article I have read the countries that have issued their own cryptocurrencies include Ecuador, China, Senegal, Singapore, Tunisia. I Think the purpose of this is to regulate national cryptocurrencies per country and take the control to the government and the advantage of creating this is to hold the momentum of the value because this will effect the economy of the country.
February 20, 2018, 09:19:09 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.
I think this is possible. We may don't aware that some banks making their own crypto currency and maybe making an ICO also. Some of them are slowly adjusting with the digital currency. And i know that China bank has also their own cryptocurrency.
February 20, 2018, 09:04:35 AM
I think the banks will soon create their own cryptocurrency especially if the other countries are legalizing bitcoin which is what Russia just had announced. I can clearly see that in the future, and it will most likely happen in time. But I don't know if that is a good thing or not because it will be in competition with other cryptocurrencies that are decentralized.
I think centralized bank can also create crypto but it will surely bitcoin is the most efficient because of its capabilities .Why we owe others if bitcoin is there this kind of crypto is the future in all coin. It will never defeat bitcoin in other kind of coin. 
February 20, 2018, 08:46:39 AM
I think the banks will soon create their own cryptocurrency especially if the other countries are legalizing bitcoin which is what Russia just had announced. I can clearly see that in the future, and it will most likely happen in time. But I don't know if that is a good thing or not because it will be in competition with other cryptocurrencies that are decentralized.
February 20, 2018, 08:31:36 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?
Jump to: