Will governments create their own cryptocurrency that will replace fiat? - page 12.

s0beit

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Quote from: michkima on November 23, 2016, 10:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

I think that there will still be a possibility that the government could make their own currency but they can't replace the fiat that easy because there are lots of things to consider before they do it. Before they create a currency that could replace fiat, I think bitcoin would rise first.

Seeker#9

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Some governments have already issued their own cryptocurrency to raise fund for their economy or for faster governmental transactions. This government-made cryptocurrency will likely a centralized one instead of decentralized system to control or monitor the flow of transactions. It's already happening now and there is no need to wait that hundred years time frame.

JustinTaner

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I think this will continue to be a contradiction, the transaction certainly becomes easier and certainly the government can control the coins in total, but I'm sure many do not agree because they are worried about not having more access.

Argoo

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Of course, many states will now create and create their own crypto currency, but it will be completely centralized and therefore not similar to bitcoins. Also, I think, in future there will be a lot of combined currency, which will have signs of different types of currencies, including crypto-currencies, that is, the advantage of different types of currencies will be used.

campica

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You ask if that will happen in next 100 years, but I would say that it will happen much before. Digital currency progressing so fast, everyday you can read news about something new in crypto world, it's become better and better. I think that for 10 year from now we will use blockchain and there won't be fiat money at all.

zenfo

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Quote from: popolite11 on May 30, 2018, 09:00:33 AM

Some of the countries have already done it. Russia is working at its crypto ruble, for example. Watch this video: https://www.youtube.com/watch?v=PIq9S0BqIO8

For right now there are many countries that building their own coins because of chrash of economic, but about the their coins will be replace their fiat money i am doubt about it, because not all of people on countries can understand about digital currencies. If it can be happening will take long time...

popolite11

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Some of the countries have already done it. Russia is working at its crypto ruble, for example. Watch this video: https://www.youtube.com/watch?v=PIq9S0BqIO8

Aleth

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I think with the trends today that digital coins are popping out so i is not impossible that there will be different coins yet to come out and i believe that governments will create its own crypto coin like fiat money.

abayan

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Quote from: TechnoBibble on May 27, 2018, 07:33:56 AM

I think this is a step that is not right, if every country or government makes its own cryptocurrency, then other countries would not necessarily accept it so that it makes no difference with the ordinary currency, better a few countries join to create a cryptocurrency so that can be used globally.

We can't stop if they will create their own currency because they are making the laws and processes so it will be much easy for them to get attraction to the community or the people's who is not in crypto and don't much understand the way what makes more crypto advantages to eliminate the government hands over the money and other matters.

weiweianll

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Venezuela is the first country to create its own cryptocurrency!
In the future, many countries will follow Venezuela to create its own cryptocurrency!

justicesquadron

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It is most certainly that our world has become so attached to the internet and it became a very vital thing in our lifes, every thing we do we do it with internet, so it is not a surprise that we no longer use fiat money but instead we use cryptocurrency.

TechnoBibble

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I think this is a step that is not right, if every country or government makes its own cryptocurrency, then other countries would not necessarily accept it so that it makes no difference with the ordinary currency, better a few countries join to create a cryptocurrency so that can be used globally.

infested

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Quote from: michkima on November 23, 2016, 10:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

They will do 100%. In fact many of them are already planing it or have already done it like Venezuela. In most cases it will be nothing like bitcoin or gold.

Btw are you seriously thinking current fiat represents gold? It actually represents dept as its printed to loan banks/corps/government/people and thats the reason its always depreciating.

If governments create their own crypto it will be exactly like current fiat. It will be based on dept and depreciating. They will print as much as they want depending their financial policy. It will actually be worse than fiat because it wont be anonymous and it will be easier to control so if you are against your government they will be able to close your accounts instantly.

NotAtOld

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Probably, yes. Government always adjust on what majority of their people do. When internet was invented, they provided ways of getting your documents by online registration so I know they'll do the same with crypto.

jonaire99

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As of now, there are already countries that issued their state cryptocurrency but it is necessary replace the fiat. It will take a lot of years before virtual coins can replace fiat and it is still depend on the future governments. The national currency of one country can also turn into a virtual currency by using the same technology, the blockchain. In the future, there might be cryptodollar, cryptoyen or cryptopeso that will vie against bitcoin, ethereum or other existing cryptocurrencies.

EnricoGomez

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Yes, I think that the idea of governments making their own cryptocurrencies to transition over fiat is very plausible in the future.
Pretty sure that it will somehow still be like the fiat, just digitalized and easier to transfer. Governments will have to create efficient regulations for the use of their own cryptocurrencies to avoid illegal activities like scamming and involvements in black markets, etc.
Not in the current times though, not all people have access to technology to which it relies on, internet is very much an expensive resource to acquire for quite a lot of countries. In a century, it may, in my opinion but we will have to know.

Argoo

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Already, some states are issuing their own centralized national crypto currency. It will only partially replace the fiat, but it will not be able to completely replace paper money. Apparently, there will be various combinations of such crypto currency with paper money and securities. In general, it is difficult to predict the possible variants of such development of the crypto currency.

Sir Legend

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I'm sure that someday many governments are creating cryptocurrency, this is because they are aware that times and changes can not be resisted and the trend of crypto usage will certainly increase and defeat traditional transactions.

Elmughni

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Quote from: michkima on November 23, 2016, 10:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

It is possible, The governments create own crypto currency that will replace fiat. Because In the future The transactions will use crypto. It is my predictions.

yarozaqu

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Quote from: michkima on November 23, 2016, 10:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

I think It is possible, If the goverment create own crypto currency that will replace fiat, because crypto is the future currency.

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