Topic: Will countries or central banks create their own cryptocurrency? - page 3. (Read 3258 times)

If you are using fiat why would you like to hold a cryptocurrency issued by your governments, it does not make a lot of sense if you ask me, and if you are holding cryptocurrencies why are you going to need to use such coins when you already have a product that is way better.

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.

Many country is making their move making their own crypto. China, Russia, Venezuela, Kazakhstan to be name a few. and banks as well. 

OP, I think first you need to realize that crypto is not real money and that these banks or whoever that’s bringing up the topic of having Blockchain for banks is not doing so for it to be used in replacing fiat, rather they will create their own Blockchain which the government can control and people can invest into the hands of banks instead of going for the real Blockchain which doesn’t give the government control over people’s money.

If it is true then no doubt that it will have a very good experience and I hope that it will surely bring  a very positive effect on their economic condition. I think that if they will get a good response I hope that other countries will also follow them.

And what is so attractive about crypto currency? And the fact that in the first place it is positioned as decentralized, anonymous and not tied to the political and economic shocks of this or that state. And of course, yes!

The market of crypto-currencies is developing very actively. This has prompted many states to start issuing their own digital assets. England, China, Venezuela and many others.
Venezuela has already created a national crypto currency called El Petro first in the world. Its value is tied to the price of oil. The release of the second asset was announced. Petro Oro will have a link to the country's gold fund.

Actually there a good possibility that everything will happen like that in future because crypto is 100% future money and banks can't back off crypto for longer time.

yes of course they can create and create their own cryptocurrency because it is the best solution for now to be able to provide solutions to the problems of the existing world economy.

I think it's possible if bitcoin has been received by the whole world

Well, I think that was true. I am looking forwad to used bitcoin as a common currency in the future. I do not think if many people will release their own crypto in their currenty, well upon checking we have rights. Its really great to know that someone will help you a dollar or yen. Hopefully in the future we bitcoin became a common curreny.

If the development of cryptocurrencies increases and cannot be stopped it will certainly make all countries make their cryptocurrency, this is to ensure that they have made the appropriate coins they want.

That is very possible that countries or central bank creates their own cryptocurrency, this is because if cryptocurrency wi be spreading around the globe so the possibility that they will go for it , because crypto might be popular than ever.

i think that banks will be forced to change their usual system, and introduce new technologies, or create their own crypto-currencies, in order to somehow compete with currencies such as bitcoin, which are already accepted by some countries.

That is obvious. Why would they create a cryptocurrency that they cannot control? That will be really funny if they do that since we are talking about the government here. Theh will be either not make a crypto currency that they cant control or make a crypto currency that they can fukly control and use that as their own fiat. The future is leaning there so that is not impossible.

Of course they will make their own crypto currency because they see that crypto currencies can compete with them and they want to compete also in crypto currencies by making it themselves, but maybe it will be a little difficult to compete because many altcoins are good in it.

I think it might happen, maybe the country or central bank will make their own crypto currency with the same symbols and exchange rates as their fiat currency. There are countries that have done that. I hope that actions taken by the country can help. boost the price of crypto currencies to skyrocket again

I think what you say is not wrong, but don't think they are fools, people like them (the government), certainly have a crypto strategy or version that is different in practice may be the crypto they market is not anonymous.

Central banks are so centralized that they could not hide it ''Central Bank'' in their name. It is more favorable for the government of nations to have a centralized financial system than a decentralized economy because they use monetary policy tools to generate more money for lending. I doubt if countries or central banks can create their own cryptocurrency because the digital currency is already disrupting the financial sector. Centralized banks may not be able to relegate their system by issuing cryptocurrency, rather they will employ other blockchain technology that will facilitate their daily activities.

Which is exactly why they shouldn't start using cryptocurrencies. It will simply become an eye-opener to the people and once they have become familiar with cryptocurrencies, they are just going to move into using a different currency. It's like the government went through a lot of trouble just to end up giving their people a choice to be free from the government. Besides, the government already have their very own version of cryptocurrencies. It's the digital form of your fiat money which you can find on your bank account, credit card account, and Paypal account.

It seems to me that the only way for the government to prolong the process of mass adoption is to not say a thing about cryptocurrencies. They simply have to ignore it. In my country, bitcoin was actually once on the news. It actually just increased the population of the bitcoin users in my country as everyone wondered what is it about. And of course those who have researched enough were able to find out that bitcoin is not a scam, in contrary to what the news says. There were also viral articles that explains why cryptocurrencies aren't a scam. My fellow bitcoin users don't really mind these news because we know that we're making money from it and aren't scammed, in any way, so why be concerned of some video that was flashed to your television, right?

I definitely agree. The major reason why countries wouldn't issue their own cryptocurrency is that there's a lot of major issues going on and a lot of problems that they have to fix. Simply put, the nation doesn't call the need to have their own cryptocurrency so why would they?