Exactly my view, because the UK government has plans already to make its citizens cashless spenders by 2017 - they will spend digital pounds sterling.
Now I am thinking they might create a blockchain for GBP instead of adopting BTC.
Topic: Will governments create their own cryptocurrency that will replace fiat? - page 26. (Read 39306 times)
November 25, 2016, 12:19:09 AM
November 24, 2016, 02:19:35 PM
Governments will not try to replace fiat with digital currency similar to our bitcoin. I believe they might have plans of converting the traditional fiat in the digital form. This will just similar to the cashless system and the governments hold the central authority and control.
November 24, 2016, 01:49:29 PM
In my own opinion i think they can not change or replace our fiat if they are make a crypto currency.. because i think if they are make a crypto currency it is just for alternative use just like bitcoin. fiat is already a money that they can also use for online shopping so i think they will not make new crypto currency because we have already have fiat..
I agree with you, I think you are right and I think in daily life cryptocurrency can walk together with fiat, cryptocurrency can become alternative for fiat. in my opinion, not necessary cryptocurrency to replaced or change fiat. 
November 24, 2016, 12:53:37 PM
In my own opinion i think they can not change or replace our fiat if they are make a crypto currency.. because i think if they are make a crypto currency it is just for alternative use just like bitcoin. fiat is already a money that they can also use for online shopping so i think they will not make new crypto currency because we have already have fiat..
November 24, 2016, 12:26:23 PM
They are working at it right now. As other have mentioned, I think countries like Sweden will be the first countries to introduce centralized, closed source digital currencies as they get rid of physical cash, so no more coins and paper bills, only a digital coin that is 100% controlled by government.
Bitcoin is our only savior from that nightmare.
Bitcoin is our only savior from that nightmare.
November 24, 2016, 12:16:22 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?
If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
most likely
for example is Sweden they are creating there own crypto in past 10 years they reduce usage of paper money by 40% and they are going in this direction of creading some coin that will be used in Sweden only at least for now
if this comes ok or with good result think that some other countries or government will use this model for them or they will create something else
I think Sweden was just quick to move into digital currency, and not crypto, but yeah I read also they're planning to just go all out and put paper fiat into extinction. Their citizens are already so used to it that it doesn't seem very far away in the future.
How quickly digital will replace paper actually just really relies on how soon and cheaply ppl can access tech. You'd be surprised to learn that digital currency is booming in East Africa (using mobile phone SMS) simply because anyone with a 20-yr old nokia can access that technology.
November 24, 2016, 12:13:14 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?
If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
Any currency controlled by a government would be the same as fiat, the difference between crypto currencies and fiat is that fiat is controlled by the authorities while crypto currencies are mostly anonymous as they are not under control of any government, even if governments make their own crypto currencies there usage will be the same as fiat as they will be under their control which wont make them any different from the recent monetary system of the world.
November 24, 2016, 12:06:21 PM
Government may think about upgrading their existing banking system but i still doubt many will be using blockchain tech to do this or even if they implement blockchain technology their network will be centralized. Also obviously those systems/tokens will be backed by real fiat or by gold just like how fiat currencies are backed currently.
November 24, 2016, 11:55:03 AM
Interesting topic, If the cryptocurrencies take over the paper money then there is a possibility that the government wil make their own cryptocurency . Since almost everything is getting digitalized, it's no wonder that money can also be .
But for people to get used or to adapt quickly, The process must be taken bit by bit . So bitcoin must be known by a vast majority of people first . I'm afraid that I'm no longer in this world when that time comes .
But for people to get used or to adapt quickly, The process must be taken bit by bit . So bitcoin must be known by a vast majority of people first . I'm afraid that I'm no longer in this world when that time comes .
November 24, 2016, 11:21:32 AM
No, they won't replace their own currency, but use blockchain technology for their fiat instead.
Then, bank will also use blockchain which is more efficient
that's right much better not not to change the way its been there so people will not having any problem continuing using Then, bank will also use blockchain which is more efficient
the currency but instead much better to adopt the blockchain system to make it much easier transaction.
I agree with you mate. It would be chaotic for countries who will replace their own currency because it will make their people suffer and their market will go down rock bottom.
November 24, 2016, 11:12:17 AM
No, they won't replace their own currency, but use blockchain technology for their fiat instead.
Then, bank will also use blockchain which is more efficient
that's right much better not not to change the way its been there so people will not having any problem continuing using Then, bank will also use blockchain which is more efficient
the currency but instead much better to adopt the blockchain system to make it much easier transaction.
November 24, 2016, 10:53:23 AM
No, they won't replace their own currency, but use blockchain technology for their fiat instead.
Then, bank will also use blockchain which is more efficient
Then, bank will also use blockchain which is more efficient
November 24, 2016, 11:04:14 AM
No, they won't replace their own currency, but use blockchain technology for their fiat instead.
Then, bank will also use blockchain which is more efficient
Then, bank will also use blockchain which is more efficient
I think for the future every government will create a mix of fiat and cryptocurrency. As we seen already less and less paper money are in circulation, I think they will follow what is the best and evolve with the technology. I think fiat can't disappear completely because we need to have money to pay cash for certain thing on the street.
November 24, 2016, 10:46:51 AM
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 wouldn't life for the next 100 years and i can't imagine what happening to the world at that year but maybe global economic will be change and after seeing the success of bitcoin each countries will tempted to makes their own cryptocurrency so i think that would be very possible and as long as there is good benefit for many people probably that would happeningIf it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
November 24, 2016, 10:45:08 AM
If bitcoin becomes a massive hit and makes its claim as the best currency, I am sure that will threaten the existence of fiat and it could possibly be that another currency, created by the government would becoke a necessity. But that seems to be a long time from now as we see that bitcoin is still very much in its developmental stages and problems are still being encountered left and right.
November 24, 2016, 09:28:02 AM
Well i dont believe they will create their own crypto currencie because they are able to do anything they wanna now, with the current fiat system, why would they make something that can make them loose their power, fiat should moove into digital transactions instead printed money and just that.
November 24, 2016, 08:28:59 AM
ofcourse its not impossible to happen right now government knows how bitcoins growing and they're afraid they could lose the fiat money so im sure they're planning to create their own crypto currency that could beat bitcoin . but when you say 100 years i dont know if i still alive in that age haha. but still iwant to invest more in bitcoin because it has a lot advantages for people lazy to go to bank and send money lol 
November 24, 2016, 08:26:06 AM
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 dont think they will create their own crypto currency on the future even bitcoin will be more succesful in the long run.In fact government will strengthen more fiat currency to established even more and i dont think replacing fiat would really take too long to process because fiat is been here for how many years and making a cryptocurrency has no sense at all for me. If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
November 24, 2016, 08:23:55 AM
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?
100 years is too long , i even heard chinese local bank ready to do itIf it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
If i am not wrong bank named people bank of china (PBOC) have a plan to launch it's own digital currency
The rumour i heard few months ago, but i am not sure if chinese government can accept it
And for replacing fiat money , it might will not happened soon , people not yet ready for it.
November 24, 2016, 08:02:40 AM
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?
If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?
I dont think they will have time to do reseaech for changing of currency there are lots of issue in our country that needs to focis more to solve and even to reconstruct. I dont think even in 100 years they will put attention on it maybe if one day a government politicians whose in position and uses bitcoin can do that if he/she dont have enough laws to develop
Jump to: