Bitcoin Forum

Australian Senators Call for Reserve-Backed National Cryptocurrency

https://dcebrief.com/australian-senators-call-for-reserve-backed-national-cryptocurrency/

Looks like Australia a crypto haven now. They are friendly towards crypto's but I don't like the idea of creating its own crypto currency, but rather to stick with bitcoin and other altcoin. We all know that those countries that created their own crypto's didn't succeed so I don't think this is a good idea for the government. Just took advantage of bitcoin technology, and apply to different sectors of their society. But I really like that lawmakers are taking noticing of the crypto's now. This is another step for mass adoption that we are going to see in the next coming years.

I have been predicting for this trend even before. Since Australia already knows the beauty and benefits of cryptocurrency and the blockchain technology, they think that why not introduce our own digital currency in addition to the Bitcoin already existing in the market. And since we can not fully control Bitcoin, why not introduce a better coin under our own freaking hands?

However, we all know that a country-backed coin may not be able to enjoy the backing of the many Bitcoin enthusiasts all over the world. They can have their own coin and any country can actually introduce one...well even as many as they want to. I don't really care. Bitcoin will remain to be the foremost coin and for the near term nothing can be able to dislodge it from its throne.

Welcome to Australia and its KangarooCoin!