Will governments create their own cryptocurrency that will replace fiat? - page 7.

Friskaadew

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Quote from: michkima on November 23, 2016, 09:45:28 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?

When viewed 100 years into the future it is very possible that human mobility is very infinite and requires us to be simple and may also affect finance which no longer uses paper money, other than damaging the environment because paper is made of trees, paper money need space in our wallet and the amount is limited, so maybe in the next 100 years many great scientists will find new payment instruments.

freedomgo

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Quote from: Barcode_ on October 13, 2018, 05:51:26 AM

I do not see any reason for any countries in the world to totally eliminate the usage of fiat currency in their own countries even when its own government have plans to create their own crypto-currency, the existence of fiat currency would still be very important to a country economy, as the citizens who do not wish to use crypto-currency at all would obviously stick to the usage of fiat currency to purchase their daily necessities.

The economy would be progressive if there will be freedom for people to use what currency they want.
Bitcoin and crypto as a whole is not only a currency, it gives us full freedom to consider this as an investment as well due to its limited nature.
People will appreciate crypto as soon as they fully understand it because of its decentralization.

Barcode_

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I do not see any reason for any countries in the world to totally eliminate the usage of fiat currency in their own countries even when its own government have plans to create their own crypto-currency, the existence of fiat currency would still be very important to a country economy, as the citizens who do not wish to use crypto-currency at all would obviously stick to the usage of fiat currency to purchase their daily necessities.

djselery

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It is possible that some countries will try to create their own cryptocurrencies (which will be centralized likely), and try to convince their citizens to use them instead of using Bitcoin and the similar decentralized cryptocurrencies. But they will still support their fiat currencies at least in the near future.

saponetes

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Somewhere in the near future i have few doubts that money will be totally digital.
Paper money will have an end in the near future, however i doubt if governments will adopt blockchain as the base of digital fiat, because of (de)centralization.

SkvorNyc777

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I think that this scenario is actually more than possible because currently governments are not favorable for crypto and probably they will have more credit for their own crypto currencies.

Snaic

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Quote from: michkima on November 23, 2016, 09:45:28 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?

States will consider the issue of creating their own centralized cryptocurrency and many will actually create it. However, it will not replace the national money of these states. Centralized cryptocurrency can only go in parallel with the national money, only in this way can it benefit the state. However, it can also be said that the cryptocurrency will constantly evolve; other, more accessible forms of their existence, both separate and joint, may appear.

deppil

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Quote from: Chrisjay29 on October 01, 2018, 10:14:30 PM

Will i think government will not gonna do that. Because fiat money is still more important than crypto today and if you notice there are lot of scamming news in crypto. Thata why i doubt that governement will replace fiat.

Of course. they won't do that. they will not make a new currency just to be a competitor for Fiat. moreover cryptocurrency is
decentralized. of course it will trigger them to manage the currency and it can be a loss for themselves? let alone fiat is perfect for them

Nolan786

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From my point of view, it will soon happen in the future. the government can see the potential of cryptocurrency but the problem is that the govenrment can not control it, i think if is possible that govenrment will create their own cryptocurrency that can replace fiat in the future

Koenraad Lange

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Quote from: Chrisjay29 on October 01, 2018, 10:14:30 PM

Will i think government will not gonna do that. Because fiat money is still more important than crypto today and if you notice there are lot of scamming news in crypto. Thata why i doubt that governement will replace fiat.

The government may create crypto money to be used in the country, but it will not replace fiat money, because fiat money is easier to use and there is physical. So the existence of crypto money with fiat money is equal, and the public is welcome to use what is preferred and efficient.

Tosyn2

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There is possibility it could be faster than 100 years, this a nee technology government are showing interest already i don't think it will be far probably in the nearest future.

Escan0r

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Quote from: michkima on November 23, 2016, 09:45:28 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?

Maybe it will be possible for the next 100 years. Because the government wants them to be better and useful in the future. So, of course, in a few years there will be a country that will make an eye for them.

geberger

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Quote from: Chrisjay29 on October 01, 2018, 10:14:30 PM

Will i think government will not gonna do that. Because fiat money is still more important than crypto today and if you notice there are lot of scamming news in crypto. Thata why i doubt that governement will replace fiat.

Bitcoin can serve as a standard currency and can be used worldwide as a payment method. But i think Govt. Would be reluctant to accept this bitcoin as a national currencies for their nations.

Rejevunator

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Quote from: Chrisjay29 on October 01, 2018, 10:14:30 PM

Will i think government will not gonna do that. Because fiat money is still more important than crypto today and if you notice there are lot of scamming news in crypto. Thata why i doubt that governement will replace fiat.

The purpose of digital currency is to have decentralize currency and there is no point for the countries to develop their own crypto currencies.

HaryS

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I think it's quite possible, considering lots of government all over the world recognizing and allowing the use of cryptocurrencies in their market. Few countries such as Venezuela already trying to implement cryptocurrency in their economy. Even Marshall Islands adopting cryptocurrency as their own legal tender, although they have to identify themselves when they are using the cryptos.

Chrisjay29

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Will i think government will not gonna do that. Because fiat money is still more important than crypto today and if you notice there are lot of scamming news in crypto. Thata why i doubt that governement will replace fiat.

Ikay

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Government will do that because as you can see that now they do a lot of reactions in terms of cryptocurrency so they expected if they create their own digital currency it may help them and also the country and in that next 100 years the whole world will use digital money as a fast and easy transaction so the government will not to try to steal the people's treasury. since people will know where to go all the money from the government.

boyz97

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Quote from: BennyK on October 01, 2018, 08:51:08 PM

Quote from: michkima on November 23, 2016, 09:45:28 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 wouldn't be surprised to see the government making their own cryptocurrencies to replace the fiat in the next century. Crypto offers many benefits and the governments are aware of that, hence will do everything possible to grab the power which comes with it.

government could take many benefits if they create their own cryptocurrency.big fund from ico investors could used to provide public facilities in their country, without giving any loans to investors.

patarfweefwee

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Well, if crypto currency become widespread, the governments will definitely get on that and create their own blockchain or even a dashboard of sorts to make it exclusively theirs. I'm it will be backed up by a country's GNP but ultimately people will see the changes in it. Now, i see blockchains backed up by Gold and precious stones.

BennyK

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Quote from: michkima on November 23, 2016, 09:45:28 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 wouldn't be surprised to see the government making their own cryptocurrencies to replace the fiat in the next century. Crypto offers many benefits and the governments are aware of that, hence will do everything possible to grab the power which comes with it.

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