Will countries or central banks create their own cryptocurrency? - page 7.

YinShuiSiYuan

hero member

Activity: 1680

Merit: 505

Quote from: ?? on ??

True, they will create their own cryptocurrency. A blockchain-based, government-backed virtual currency that brings the benefits of an international currency that can be used in global trade.

Certainly many countries are working on creating their own cryptocurrencies. They probably do not officially confirm it, but such projects appear. They do so not to be left behind others when they bring in their own cryptocurrencies.

chidiarua

newbie

Activity: 102

Merit: 0

I think this would be nice. To see governments create their own digital currencies is something I've been anticipating. It would be a boost for the blockchain. And can also help our quest for wide adoption.

BrianDCampbell343

newbie

Activity: 24

Merit: 0

Countries or central banks can create their own cryptocurrency, but there are still many inadequacies. Certainly, government-issued cryptocurrency will not be able to compete with Bitcoin and Altcoin in terms of value and popularity.

joshuarose

newbie

Activity: 94

Merit: 0

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?

maybe yes, because in my country the central bank is learning about the workings of the blockchain and there are many rumors if the central bank will make its own cryptocurrency and I also hear rumors that cryptocurrecy made by the central bank cannot be mined and prices will not change

AliceSusana88

newbie

Activity: 30

Merit: 0

They will create their own cryptocurrency, a state-backed virtual currency that will be less expensive and have fewer intermediaries than the current system, and can in the long run help users save time and money. However, it will suffer every disadvantage that centralized systems are having.

Lukamovo918

newbie

Activity: 32

Merit: 0

Although banks and governments may create their own virtual currency in a pre-registered fashion, they still have disadvantages compared to third-party virtual currency, such as bitcoin. The reason is that 3rd party virtual currency can be traded without having to comply with anti-money laundering regulations.

RichardScott91

newbie

Activity: 24

Merit: 0

Maybe yes or not because other banks do not leave behind in today's trend because a lot of people now are going to interest in this new platform we called cryptocurrency but banks think that they will not earn much money here so they make their own way.

baddertin9716

newbie

Activity: 28

Merit: 0

The crazy fever of bitcoin in particular and virtual currency in general have forced governments to take a closer look at their role and impact on the future of trade, finance and the central bank in the future economy. Some governments are exploring or actively researching cryptocurrency.

JoeG.Fuller123

newbie

Activity: 28

Merit: 0

Cryptocurrency needs the support of governments or central banks. At that point, the cryptocurrency is called a "stable currency," which is tied directly to a nation's legal monopoly, or backed by an essential commodity, such as gold.

AmandaCherry00

newbie

Activity: 23

Merit: 0

The national and central banks are only interested in Blockchain technology, they do not accept the current virtual currency. In the future, it is possible for nations to create their own virtual currency based on Blockchain technology

kokobaba880

full member

Activity: 434

Merit: 101

In fact in the future every country will create their own crypto currency which will be a central currency and that will be using in the world for different transactions so for now i have not seen any coin but i hope that soon this trend will also be started like every country has their own currency in the fiat so they will also use crypto for such payments.

OrangeII

hero member

Activity: 2170

Merit: 503

Reward: 10M Shen (Approx. 5000 BNB) Bounty

Quote from: Ozero on August 23, 2018, 12:57:20 AM

Yes, I think that the states and even the banks will create their own centralized crypto currency in contrast to the decentralized crypto currency in order to distract the population from it, and also to use the possibilities of the crypto currency for their national money. It is also possible the emergence of various combinations of crypto currency with other types of money.

I do not think so. a country, or a bank must have fiat, and that is the thing they need to develop and maintain the price. cryptocurrency may be supported as technological developments occur on the internet, or as an investment tool for developing fiat.

Ozero

full member

Activity: 2142

Merit: 183

Yes, I think that the states and even the banks will create their own centralized crypto currency in contrast to the decentralized crypto currency in order to distract the population from it, and also to use the possibilities of the crypto currency for their national money. It is also possible the emergence of various combinations of crypto currency with other types of money.

mware

full member

Activity: 390

Merit: 100

it's possibly, there are several central banks that last year considered their own cryptocurrency for use in their transactions with financials institutions and banks or as alternatives to cash. This would concern closed circuits.

McEdward

newbie

Activity: 21

Merit: 0

It is very cunny indeed. They know how good Bitcoin is. They can see the profits and the benefits people are making. Ok, many lost their money, but the cryptocurrencies are revolutionary. Noticing that, banks decided to create their own currencies, without benefits to people. They just did not understand why we are investing in crypto. The goal is not to be patriotic or whatsoever. We just can be free and profit from something for the first time. Unfortunately, banks are already using the benefits from the blockchain and this can alter cryptocurrencies. Let us see if digital money can concurrence cryptocurrencies.

Danisababy

newbie

Activity: 139

Merit: 0

Quote from: gnaylor on July 14, 2018, 10:45:57 AM

The cryptocurrency market is increasing in value in the accepted countries, now the countries that have already accepted bitcoin don't need to have their Cowen cryptocurrency whereas China who has denied and as everyone knows is the master of closing their own product might be the first to makes its own crypto,

In my opinion, I think that they would create their own cryptocurrency because digital currency is becoming popular and they know that many people are interested in cryptocurrency so they will follow trend. Maybe this time, they are studying about it and planning to launch it in the near future.

itsik78

full member

Activity: 462

Merit: 100

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?

Six of the largest banks in the world have entered the project to develop a digital currency, which they hope to use next year to calculate and clear financial transactions. These are Barclays, Credit Suisse, the Canadian Imperial Bank of Commerce, HSBC, MUFG and State Street. I read that they have their own crypto currency, but they do not have confidence that this currency will be successful and predict its creation not in the near future. time

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

Will countries or central banks create their own cryptocurrency?

about the countries, so it's more fun, more recognize crypto and more countries are talking about their own coins

MadisonWood1212

newbie

Activity: 34

Merit: 0

I do not think at the moment, but in the future, maybe the central bank can make some kind of coin for them, but I'm sure that these coins will never be equal. with Bitcoin, Ethereum, etc. Since the coin produced by the central bank will have to be managed by the bank, the security of the user will no longer be safe.

Ozero

full member

Activity: 2142

Merit: 183

Many countries and their central banks create their own national centralized crypto currency. It is clear that even more such a crypto currency will be created in the near future. The states will be forced to create such a fully controlled crypto currency in contrast to the decentralized crypto currency when decentralized crypto currency will gain considerable popularity. In addition, centralized crypto currency will very well complement the national paper money, they will complement each other.

buternasek

member

Activity: 336

Merit: 12

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.

right, the system adopted by bitcoin today will not be suitable for any country.
even if aa country will make their tokens on their own, they will make a different one with bitcoin. of course they can control.

Topic: Will countries or central banks create their own cryptocurrency? - page 7. (Read 3237 times)