Bitcoin Forum

Hello people!As you consider whether each state to create their own tokens? under its currency?

All we need for trading any cryptocurrency is access to internet. So any cryptocurrency which is created is global.

Im not sure if that was a good idea because in order to create a token we just only need an internet means it can be use and accesible worldwide.
In my country Philippines, some bitcoin user created PSB token (pesobit) like pesos currency but it seems that coins is going to dump now.

The population still needs an internet connection to be able to use. So what about the citizens who don't have an internet access? They will become "unbanked"
USA (~300 million citizens) and Australia (~25 million citizens) are the top countries with internet access but still, only 90% of the population has access to the internet. It means over 32 million citizens won't have access to a banking (crypto-based) system
In some countries in Africa, only 10% of the citizens have internet access, it means 90% of the population won't have access to a banking system. Can't run this type of economy (cryptos based) in those countries.

Do you mean that each state would create it's own cryptocurrency? Well, right now decentralized cryptocurrencies can process only small fraction of transactions that are processed by Visa due to their technological limitations, so there's no point to do this with a goal of making digital currency for widespread use. So, for now there are 2 options - either they will make centralized digital currencies that have almost nothing in common with true cryptocurrencies, or they will make national cryptocurrencies that would serve as assets or settlement layers.

I'm not sure what will the advantage be if all of the states have their own unique cryptocurrency. But in the long run I see that if you try to do this it will only create disadvantages like:

• it will create a separation of the country and promote independence to each other as they have their own kind of cryptocurrency.
• they will most likely have a difference in prices which one coin is more expensive in another which will encourage trading and probably hoarding the coin to manipulate it
• It won't be a good transition for all as not all people especially the older generation are technically inclined when it comes to these kinds of technology.

With the disadvantages I wrote it will obviously be a debate in both houses of the government if ever it becomes a proposal of one party, which the proposal will obviously die down.

What would the point in going do be? Unless trade would be primarily localised, there'd be no real absolute benefits in doing so. In a way it would actually be a move backwards. If countries were to opt to switch between fiat systems tonfigital tokens then it'd be much more efficient to have a universally accepted token that would facilitate international trade.

Maybe yes and maybe not, I think this will not really happen because it will kill the essence of Fiat currency and for me that is bad because we already using digital currency in the digital world so the in real world you must use a real money, and the local currencies of each nation symbolizes their independence as a nation and economic identities doing this kind of thing will just make things worst. Many ICO's already did this kind of thing and most of it are failure and scams so I really think that this will not be implemented in the future.

I don't think so because no country wants to give a decentralize currency to their citizen and loose the economic control from their hands. And if there is Internet everywhere than it could be accessible from any part of the world. So there is no logic behind create such a vague and useless currency.

State here can be referred to as government of various countries and they are creating their own tokens and emphasizing people to use them, because they know the simple fact that it can be profitable for the nation. Moreover if people start using their token they might be able to keep a check upon the people. Local tokens means more people adopting it as it is state approved moreover more people will be adopting the local tokens instead of Bitcoin because of the better facilities provided by the state. At the end of the day every state wants a virtual currency but also does not want it to be decentralized, so they are just looking for the best possibility they can adopt.

If you do try out to read up again on what op said and mean then you would answer on different thing. If each state would decide to create their own tokens then it would surely be a centralized thing which would based on their own currency but this thing would be somehow take lots of works or adjustments since not all citizens is familiar on this kind of thing.

yes that is fact that if a altcoin is restricted to some particular area or state then it will certainly be centralize and will not as universal, But i think that this will not be succeeded, because people like to use a universal currency and therefore they will still refer to bitcoin, because bitcoin is a universal currency and it can be throughout the world with same value. 

ICO token has been created and go with the token sale first and after successful runs in the pre or post sale. You need to add the token in coonmarketcap for marketplace value and supply. Then cost of the coins will be fluctuate depend upon the supply of the concerned coin.

Yes each state will probably issue it's own token. A lot of tokens are going to be created if you think about it especially with ETH haven't unlimited supply. It's a way to express oneself.

I'm sure you will see states creating their own tokens as it will give them a chance to profit but there won't be a use case for it and hopefully the people see that and don't buy it.

Actually you need information as well and things to support it, the problem is that other people refuse to use it and not anyone can have any access to it so why replace it with tokens that is not accessible by each person in its country?

Of course, what is more it would works really good in my opinion. But in spite of its own token, every state could use more popular crypto due to make intergovernmental payments.

I think if every country does that. this in my opinion will not be effective because I think it will kill the fiat currency owned by every country they have. if there is a digital currency adjacent to the fiat currency that becomes the currency of a country this will cause a dualism that can cause a split in the currency strengthening between digital money and fiat in general. so I think we should use bitcoins for virtual currencies that are global is better because bitcoin has no control from either party or government or other agencies. and my expectation of bitcoin would be acceptable in every country for as a legitimate transaction tool.

The OP only suggested if each country will create their own tokens not that those tokens will replace cash, I think governments are going to try to create their tokens but whether those tokens are going to be successful is another story, people will use them but when things get difficult in the economy people will recognize that bitcoin is way better since it is independent of government direct control.

I am assuming by state you mean country. What you are saying is no different the already existing fiat, of each country creates its token, it would be just like the fiat but with few different things and ultimately it will still be controlled by the government.

I wouldn't be surprised if they do. I mean, as a gov't, who doesn't like having digital fiat? You get total control over it and by extension your people as well. And no need to worry about it being stolen by anyone else but you.


Yeah heard of Pesobit. People are calling it a scam.

Yes the each state will create its own token are I think if every country does that. this in my opinion will not be effective because I think it will kill the fiat currency owned by every country they have. if there is a digital currency adjacent to the fiat currency that becomes the currency of a country this will cause a dualism that can cause a split in the currency strengthening between digital money and fiat in general.

I think you have not properly understood his point. Every state or country having its own crypto would make the system what it is today. The crypto would still be regulated if it is state owned. So if it regulated and not global it has actually lost some major traits of being a cryptocurrency.

Any form of "crypto-only" economy is a utopian idea that would lead to unexpected consequences (imho). Running dual currency would be ineffective for any monetary institution because you cannot control either amount of tokens in circulation or their value in time (= interest rate). Fiat wins for central banks  :)

It cant be considered as crypto because it is already centralized which these would really be considered as e-currency which doesnt really have any difference on physical fiat money itself but only this thing is only digitalized.If they would make their own token then they are switching fully their physical into digital which is somehow an impossible thing to happen.

Very possible that this could happen but I dont think it will and that simply is because that would lead to more centralization and this the basic system that which Satoshi was trying to get away from. Doesnt seem likely,

although nothing is impossible in this world.

The idea must be positively accepted by the government, banking system and people. As far as I know several Japanese banking group is pushing to make their own digital currency called J-coin to be introduced before this coming 2020 Olympics. While according to what some say the government and central bank of Japan are open to the idea. And value of J-coin will be the same as the value of Yen. The idea is not far to make it realistic.

I think that's the trend now. Dubai was first, but China was already considering it, and there are Rumors that Japan and USA will do it to. It won't be bitcoin, so it won't really compete with it though. It might help bitcoin though, because it will make people create the habit of using virtual currencies, so it won't be strange to them to use bitcoin. And as soon as they realize how easy it is, and how much better bitcoin is (because of it's limited supply), they will all adopt bitcoin.

Guess this would be the way that it'll start. First it's a government-sanctioned coin and then later they would start allowing it to be used in place of fiat for more things until before you know it, IT is fiat. Digital fiat is every government's wet dreams. It have all the benefits of cash to them with the addition of greater control and snooping powers.

I do not think so. People use the same money because everyone is accessing the internet. In addition, real digital money is not so big that it has to be divided into small states, so it is still centralized and independent.

If the state will create their own token under their own currency, they just made no difference but making another money out of their own. It is like, if there is 20$ bill it will be creating another 15 or 10$ bills also and it will centralized by then controlled by their own government. It has no relation to crypto.

I think state did not considered token under their currency it is because a lot of process to be undertaken by on state. Token is globally used through internet and one state cannot produce their own token as long as it's not approve by their legislative body and creating token is against the policy of one state because they are under the law of protecting their own currency.

It's possible but its not profitable in some cases. For example, a third-world country tries to create a token just a couple of months after its launch it might fail miserably. Internet and Advertisement is key in every ICO. If one fails to do so then it is bounded for failure.

Yes because it will be dome at the high risk but on the other hand there is nothing possible without the risk the price of the bitcoin will be high and the other currency will be invented then it will take high time to grow and to make the more profit than the present currencies, the bitcoin is already very famous and the people are very interested in the bitcoin so I don’t think that the new token or the currency will take the place of the bitcoin.

My immediate reaction to the idea of each state creating its own tokens was initially that of "that's not how it works, guys". Then again, I've had a whole year to watch this crypto space get flooded with new coins, new forks, new tokens, and tokens on top of chains, on the side of chains, tokens on top of coins on top of chains... I guess it's only natural that some states would want to exert their own influence on blockchain... if only for their own piece of history.

If anyone read Putin's recent words to the press, it might even seem he might approve of the idea of Russia's own national crypto too.

Thats what they want atm.

Just like their individual currencies, they want their own fiat currencies also. Whic is really dumb when conpared to the fact that they cn rather aim to bring a universal currency that solves all the trade issues and makes he monvement of people worldwide much easier and eliminates forex fees and stuff.

I think it is not with states but i am sure i saw some coins like Europe Coin and Asia Coin also i saw a lot of others like Putin Coin and Trump coin i did not know those exists but when i was studying a little bit about bitcoin and i found them.

I think that this is a possibility and as a STRONG advocate of a free money competition based system, I'm all for it. The best will remain, the rest will vanish.

It's probably the only way to go.
Monetary system with no guns to enforce it can work on a small scale, like BTC today.

Once it grows enough to become interesting for people with big guns, they will start appropriating it. For instance, it would be a minor thing for China to declare mining illegal, seize the gear and start mining their Chinacoins. The money involved is peanuts for them at the moment, so we can enjoy our breaks for a while.

Maybe it can but I don't think it will happen world wide because it is just like inventing a car that can be use water as an alternative gas, we all know that cryptocurrency is good and we all feel that it is the future of digital currency but if you will implement it in each state for an alternative to Fiat currencies then many political parties and business man will hinder it and do some extraordinary movement to stop it no matter how good it is.

Let's just hope for the best to happen in the next years for Bitcoin and support it wholeheartedly.

If such a situation arise, then surely the digital growth gets affected in a large scale. Because while a difference is created between states, automatically the capital volume gets affected and the same will create a decreased value for the tokens. Also one feels difficulty in usage when user can't use one state's token over the next state, though both states belong to the same country.

This is still not happening but there are some altcoin as token represent our country bu not controlled by government.. and its been a long time was already discuss this just forgot the title but the same question .. and until now its still no country are making their own token for their fiat and i think its really don't need to.. because we already have some real money and virtual money online the same name so this token will be use less if they made this .. and bitcoin could be one of the good virtual token that we can use online..

if every country legalized crypto would likely make each token as a means of payment in their country, but this would make a decrease in income in banks that use where fiat money because people prefer new tokens in their country for daily payments and new investment venues they

I have exactly the same questions. As we seen today, there's alot of token has created, its even increase day by day. And I wonder , if each country in the world, have created their own cryptocurrency as a replacement of the current currency. I Thought it could be happen. For example, if USA created their own cryptocurrency, they would call it $token, or something else. Each country have a different token, and also a different price, just like the current currency. It will made the world become more digital. It might be, Someday.

No. I would support that each country would create their own tokens ratger than each state. It would be hard to trade from one state to the other due to the volatility, difference in price due to different level of demand making a sort of barrier to one state to the other.

about your global crypto is true, maybe if the country makes their own coins, I think it's just localized.
May be used only for one country only.

Isn't a good idea. In current fiat currency system, we consider the inflation of money to be zero/constant hence person spending either his first or last unit of money has same affection towards both.
But if such system is replaced by state-based cryptocurrency then the supply of money will become limited. This will initiate speculation activities and people will start holding their money, hence, will decrease the liquidity of money. Along with inflation of items, concept of inflation of money will enter the economy. Now the last unit of money spend will be more dearer to consumer than first unit. Thus such system may not work out very well.

All of the state is tempted to try to make their own currencies, not only state but I am sure most of the people ever thought of making their own coin, but it is not a good idea,it will make  more unused coin and in the end the coin will have zero value, I think the country should focus on supervise and control their fiat value

yeah, not more country want to implement their own token to be use on their own, because without the internet, its useless like for example of this PSB which implemented in philippines are soon to dump and flap like a bubble. much better to use cryptocurrency for world wide use for more clients and modern upgraded system. because most of people now are using internet in their whole daily activity for their work.

At some point in time we will see governments coming up with their own state-backed cryptocurrencies. Countries like US, China, Russia, Japan, Singapore, India etc are already looking at this possibility. Adopting Blockchain technology to issue centralized cryptocurrencies would lead to digitalization of an economy and in the long-term it might gradually transform a cash-based economy to a cashless society.

A country like Sweden where only about 15% of transactions are in cash, a state-sponsored cryptocurrency would be quickly adopted by their citizens. But it isn't the same with other countries, like India where only 2% of transactions are cashless. So basically if a country comes up with their own cryptocurrency, it would be a parallel system where both a cryptocurrency pegged against the primary currency and Fiat both would co-exist. As far as adoption of a centralized cryptocurrency is concerned, it would depend on a country's cash to cashless transaction ratio.

Probably yeah, now that the market of crypto is bullish and has become a world wide trend off late thanks to one, ransomeware attack and two, bitcoin 's price. People are getting to know that such a thing called bitcoin exists and it's per coin worth is more than 4700$. So what governments are planning to do is to release their own centralized currency with blockchain interface and technology involved in it.

It will not matter if all country creates their own token out of their own currencies what important is that the people who will use their tokens because if the market for such will not increase then their tokens might only got lost and may be out in the circulation after few moments besides if there are lots of token I don't think people will love having them all. surely only few can stand.

It will be good for each state to create their own token under blockchain technology or ethereum and if possible the monetary system we have now should be scrap. Bitcoin and cryptocoins technology provides the best system for all of us and it creates the best system. Bitcoin represent freedom and governments should study this great system and adopting it to their financial institutions and if possible are Educational system.

Limiting tokens to only one state is not a good idea. Every token needs to reach more people so no one wants to limit its market.
Also all fiat currencies are global and not limited to a country.

Nah, I don't like the idea. I would prefer more just to use one token as currency not only in one country but in whole world. Well I'm definitely talking about bitcoin. In this way, many more people around the world will use bitcoin and its price will get more valuable. We don't need many tokens that will just end up a shitty coin.

it could be happen as long as before they create their own tokens there is internet connection available. without the internet, they can not create the tokens. but i don't think their tokens can get famous because the tokens is for them only and if the outsider wants to use, then they should thinking what their benefit from using the tokens.

Yes, it is best if one will create token this would be globally to become popular. It is needed of internet access to implement this token. If state will create token probably it will not be hit in industry, so much better to create token which can be access by many.

The goal of the digitization of money to make it simplified and not complicated. So if each state of a particular currency creates its own token under the main currency, it will create a lot of confusion and also slow down the inter-state business due to the huge exchange rate fluctuation. It will make things more complicated instead of simplify it.

What we must aim for is "one world one currency". That is the most complicated matter to implement but once it is implemented, it will simplify the world economy to a different extent. There will be no exchange rate difference around the world. So it will create a healthy competition among the production industries. Same wage will be given worldwide so that world economy will come at par. A steel producer from China will have to compete against a steelk producer of UK because the product price will be same. The the product quality will be increased at the same old price. There are a lot of other benefits as well which can't be written in this thread. I know "one world one currency" is a distant dream but if it happens, it will bring good news for all the common hard working people worldwide.

Dont think that even creating Token will be good idea. What will crypto community gain in this nothing except another altcoin. Just image what would it be if every state create another 200 coin, this would be by me total disaster, and believe that many exchanges would not allow this to be placed under them.

States have a great opportunity in order to establish themselves and to ensure the exchange and circulation of their own altcoins. With the advent of the bitcoin and the existing banking system is losing its relevance and tanks will have to upgrade their activities. Therefore, this scenario is very possible.

One coin per state is way too much, it would be a hassle for the population. Hard to learn, hard to understand for the non-tech savvy...it just wouldnt work. We need to make it easier for the average folk to get into crypto, not harder.

I think this would be possible, a coin for every country. If that happens then, our world will be filled with cryptocurrencies that can be used in much better and faster transactions. It would be just like our current money today, but in cryptocurrency.

If states or all the countries want to create their own token, I really do not see any problem with that as long as whoever is buying into them know is much as the same as the usual fiat since it will be controlled by the government. Although, before any country will do that, a lot must be considered, most especially infrastructure.

It is possible to the states to make their own token because the token is now being trending in these days and they are now going into making of their own token because it is easy and if they are going to finish it well then they can easily promote it to the public and make their own token successful and even more powerful in the market as the price rises.

Centralized or decentralized doesn’t make a currency universal. Even bitcoin cannot be used globally by everyone as so many people will not even be able to access it due to lack of internet and being hugely behind in technology. At the end for the state, we will just end up having a form of the usual fiat they have had before in the form of digital currency which will end up being controlled.

I do not see the problem with running a parallel system, they do not need to create a different coin, the US could create their US tokens and peg them to the dollar, so 1 dollar equals one unit of their cryptocurrency, it is not complicated and people will be able to use it as if they are using their regular currency, now I will never use that crypto or any crypto created by a government but that is a different story.

Whether they will create or not, or they have already created, as long as it is not accessible it will not be a problem. The case we have right now is that every token that had been created and being traded in the market can be accessed or be purchased worldwide and if it has a good productivity and platform it has the tendency that other races in different countries will be buying it, so i guess it doesn't really needed to create tokens for each corresponding countries as their digital version of their fiats.

I believe that there is no need for us to have different tokens as long as it can be used anytime then there should be no problem. It also doesn't makes sense if different states have different tokens.

I think each state will be willing to have their own crypto currency just like their fiat but i think that it will still remain as centralized currency, and therefore it cannot beat bitcoin, Bitcoin is in fact a decentralize currency which is present throughout the world and people can use it equally  everywhere. While the centralized currency will be under the control of a single government and they will treat it as they are treating their fiat currency.

You are right here! But does this kind of policy cut across globally for all countries? Let's even leave state out of it, cause I am sure the OP was kinda referring to each country. States most definitely cannot go against the normal monetary policy without the federal decision.

But from your point of view, it is something that can work out for a country and won't really be a problem to embark on. The difference is whether people will adopt it knowing it is going to end up as much as the country's currency with the usual control.

I am not in favor of these centralized cyptos of government. Most probably soon every state or country will have their own centralized cryptocurrency which will be controlled by their central authorities. The main reason of this step is growing interest of people towards cryptocurrencies and bitcoin, so they want their people to use their own centralized currency so that they will have a full control over those coins.

Governments will try to emulate bitcoin but it will be very hard for them to be able to have the backing of them it will still be fiat under the guise of a crypto currency.

Even at this stage people have already been enlightened enough that whatever comes directly from the government is not good for them and will end up sticking with a decentralized currency instead. What is the point having something in form of a token that is not different from the usual fiat that you have been holding ever since.

If each state in the USA created their own crytpo it would be massively confusing and a waste of time.

We only need BTC + a few altcoins that are actually worth having(ETH/Monero/Zcash/Litecoin etc).

Having another 50+ crypto for each state is dumb and almost nobody would use it.

There are some who are area in world who have local currency than national currency. Creating currency or token by each state is not good idea because currrency that is common currency is what keeps a country as a country. If each state gets different token then it is added load on the economy and danger to the society. Who is going to keep tab on these tokens from each state? Who will decide worth of token? with different or independent currency or token wouldn't it enable process of separatist movement?
It would definitely start a separatist movement, the states who have token value greater will try to keep others from entering their state.

our apocalyptic scenario is very similar to our future. It now seems incredible but I think that it will. Print your own money the territory will not be able to release their but a cryptocurrency can easily. Perhaps they will join corporations such as AMD, Nvidia. Why would they trade stocks if they can attract investment through its own cryptocurrency. Their hardware directly stimulates the release of cryptocurrency. This currency will be the only one to have physical security and will be very popular.

The reasons for having more than one currency are economic, it is very difficult for individual countries to manage their economy if they do not have control over their own monetary supply.

It is crystal clear that every country is highly impressed by digital currencies and the way they work. They are definitely going to attempt launching their own currency. Recently India has given a hint about launching her currency called Lakshmi.

But again the question here is whether these will be successful or not? You have answered it well and I also believe that it demands hell of publicity to make your currency popular.

Future will be all about bitcoin and this can be surely predicted that if this coin start circulating everyone will know about it and should use it and whereas decentralization is concerned it is the quality of bitcoin it generates huge profits which are enjoyed by investors and as internet is available everywhere in world and all are using it so why not bitcoin.

Probably yes it should be like that, each state has its own token beacause we are targeting to decentralized currency in every country and each country has different fiat money. Only the government of each country will answer on how to make there national currency be defined if this digit currency will take over as a global currency nation wide.

State owned tokens I see it as regulation as there will be limitations to its usage. A state might decide how it operates her coin and so might not even list enlist it or take it off public market off and on either due to monetary policy of the local economy because they have hold on regulating.

So if it is not enlisted, would trading it still be possible?

There's nothing wrong if states will make their own tokens it's like having a distinct currency just like the paper money of different nation but still bitcoin will be the global and main currency that will be used and accepted world wide.

Has anyone noticed that there are a lot of ico's and tokens about states and cities? I visited the Altcoins section on Announcements, and there are some coins like "New york coin" "londres coin" "Miami coin" this is amazing, it is obviously that this has only been created by a fan or maybe a resident from there, but it is nice.
Maybe you are not reffering to this, but it makes sense that we are probably going to see coins about cities.

If each state will create it's own token it may have a price as long as the number of token created is less than the state's population.Price increase will be slow because the demand is limited to few number of people.

Bitcoin was created as a sole purpose of having an international currency that can be accepted everywhere and anytime, with faster transactions although its not that fast and can be possible if you have internet connection anywhere then you can probably access, while those tokens were created with its own purpose and unique uses that is why they called it alternate, in response of bitcoin. If anything happens that each country has their own tokens then what is the main idea of those created tokens for a better purpose if a certain country wants only to use their own local digital currency? I think its no sense.

I don't think each government will make their own coin to replace their local currency. Bitcoin and other cryptocurrency is not like local currency that is centralized and more stabilized. And also cryptocurrencies have their main purpose, like bitcoin its main purpose is to transfer money thru trust. Another is ethereum, its purpose is for smart contract. From this we can conclude that yes, government can create their own tokens but not for the purpose of eliminating their local currencies.

Our privacy will be gone forever if one day governments will start issuing their own crypto currencies. It will be worse than today where we are slowly losing touch with our wealth. We are going to be owned by the state that will know all our financial history. One might argue that this is already possible but state backed cryptos sound tremendously scary

they can do that ! it is a freedom of every country but if they will let go of all the alts and create tokens with each country thehre will be a monopoly again !

You do really have the point on where if government would decide to switch on making their own token then for sure all of holders would really be monitored which would somehow an odd thing when it comes on privacy when someones watches us regarding on our funds and the transactions would been made and even on the total we are holding.I would rather choose up to stay on local fiat though.

The moment government issue its own crypto, the first thing you should forget is privacy or anonymity because with government, nobody is anonymous and even the procedure of getting a court order is merely by a way to satisfy all odds or for cosmetic approach. When this happen, I don't see it affecting bitcoin because its just going to be a like the various currencies we have today that with limited use to its own country and nothing else.

On the contrary, I think that if the coins keep pumping out without daily with out a means of regulation , it might breed high level corruption and fraud. Also, fake and notoriously coins will not go to the market .

Exactly, that's why we shouldn't tolerate any little interference by the governments to regulate bitcoin or set new rules that seeks to control its usage in particular jurisdictions because they will end up invading our privacy and view all transactions and personal informations.

i dont think so, i thi k that countries will create their own blockchain tokens and bitcoin will exist seperately as it does witn fiat now.

This is true for us but what do you think it is going to happen, when more people adopt bitcoin and they are not aware of the real reason bitcoin was created on the first place, people are consumers and if their government gives to them a new coin they are going to accept without question, only people like us that know the true purpose of bitcoin will reject such a coin.

I don’t think so that there is any need of creating its own token when we have such a wonderful thing in the form of crypto currencies. The way crypto currencies are making such a good reputation in this world, I must say that each state should encourage the usage of the coins present in the world of crypto currency. Introduction of their own tokens will not serve the purpose.

I'm sorry man, your view is too simplistic. We have no control over this. So long as Bitcoin and cryptocurrencies will give us a bit of choice I think we have to learn how to protect ourselves. As for the rest there's not much we can do.

I'm not really sure if you meant state as a country or state as a fraction of a country. Anyway , if you are talking about a  country, that won't be a bad idea because the it might make the fiat there to either compete with each other which could be healthy and it will boost the country's strength if it is listed in ICO market.

On the other hand, for a state as a fraction of a country to have a separate crypto, that will be a difficult task to do and it will breed division in the country as a whole.

That's true creating a own token of all countries i think its not a good idea we know that many people are not using internet. And they need a big capital for them to create and to add it on exchanger.
Yes PSB now is dumping then the developer have plan again to do a new currency.

Making token  for separate countries would result in same as current situation. It will be kind of similar to the fiats of respective countries. I think after introducing such tokens, they will mostly put on some restrictions and regulations. Bitcoin is enough with various alts currently present in the market. And yeah token wouldn't help until the country is well built with advanced infrastructure. Or literally not even 50% could use it of some specific countries.

I think that most of the countries may already have start working on it. But it will work as centralize currency and therefore i do not think that it will compete with bitcoin, because bitcoin has the beauty that it is a decentralize currency and is present throughout the world.

I would really hope not, seeing as how the whole point of a currency is to conform to one form of payment and perform transactions with it. But if each state made their own currency....this would be no different than considering them as different countries.

Don't bother too much, i think it will not going to happen soon, sime countries bans crypto already, some wete too scared even to try it for it's ubstable and having own token can cause loses to tge banks tgat government will not allow to happen.

In coming days all government will form new rules and regulations for starting a coin. I think it is not possible to create coin on individual basis they need to get permission from the government sectors. I think it is not possible to create coin on every state of the country.

I think it is very hard for i doubt about the policy of the government with regards of their monetary policy but may happen in the future. It will be much easier for every country to transact thru digital currency.

I think it's already began as Dubai and the likes have started exploring the opportunity of creating their own cryptocurrency which I think will promote Bitcoin and cryptocurrencies even further.

Will it still be decentralized? Once each state has their own coin then it will have less damand because it is state specific.

If they will create their own cryptocurrency then they will surely get idea to the bitcoin and other cryptocurrency in order to make their own and before their create their own cryptocurrency they will promote the use of digital currencies or cryptocurrencies and that is when bitcoin and other crypto will be promoted and that is when the digital era of currency will start in their country.

For me, state will consider creating their own cryptocurrency, there has been numerous attempts to create them in the past, however, I haven't seen anyone being successful. China and Russia already announcement that they are creating a state sponsored coins, however, I'm don't see any difference with bonds or mutual funds. I think they are just creating just to satisfy their citizens who are into crypto's. But I heard that they will have to imposed taxes on them. Russia is planning 13% tax which for me it not good. Although the wealthy can avail of this so call state sponsored crypto coins. So its not beneficial to the masses, the way I see it.

There are many states i would like to say that Pakistan is one of them because because is huge marketing in bitcoin on 3rd place while India is the 2nd so i would like to say that you should need to search that in google.

it could and no one prohibits the making of tokens if it is a good and productive token, but if it only makes a token that is not good and not good it harms the country for making its country name ugly.

To me it's not that much bad because if every state will create their own token it will be good for them also it has to be a real and good token like btc

This is what is happening with the euro, countries with very different economies have united under the euro but now many of those countries are facing problems since they are not able to print their own currencies nut even if some countries decide to create their own crypto it is not going to change the fact that bitcoin is the best coin out there and people are not going to use crypto emitted by countries.

I think its not a good idea for each state to have its own token or crytocurrency. Imagine that you need to have a different token when travelling considering that you are not even going overseas, you are just moving from one state to another state. This is one reason why Bitcoin is a great idea because it is universal, you can use it anywhere and no need to fall in line to exchange for fiat as long as one store is accepting Bitcoins you are good to go, no need to convert.

I cannot stop laughing to think of a time when each and every state starts their own token,who will be using those coins ,even now we have more than thousand tokens and it is really hard to keep track with all the coins and i really do think we have to have some regulation on who can start these tokens and start earning money from thin air.

Yes in future we can expect that countries will continue their attempts to create their own altcoin. I think in recent time India also has announced that they are also going to create their own altcoin. But i have doubt that any such altcoin can pass bitcoin, not such coins can overcome bitcoin as bitcoin has the advantage that bitcoin is a decentralize currency, while all such coins created by states do not have such property. they will remain as centralized belonging to specific country.

Exactly what will be the purpose of having their own cryptocurrency? Because I don't see any advantage of having too many cryptocurrency floating around the world. But if a thousand or more cryptocurrencies exist in the future I can only see bad things from making crimes more easier to be done through the web through the possibility of a country's economy falling because of the cryptos' security features.

That is essentially having 50 different countries, each with their own currency, engage in the same market. Probably not the best way to go about unifying the world under one currency.

Some countrie creating their own tokens because of inflation, they are trying to lessen that or avoiding in order to gain the value of their new currency.

Yes that can also be a good question, because their altcoin will be centralize and may not be working anywhere else. I think they already have online system in their banks for transaction and having visa card can be use for online shopping in their local shops. they what may made them thinking about creating their own crypto currency.

Maybe It's come true but each state have respective wisdom and we must respect them. Many state support cryptocurrency but the other refuse cryptocurrency. I think that the different is attractive :)

I don't really think if that would happen, since a lot of coins created in the market. Maybe it is best if the government will adopt one coin among existing coins in the market rather than making a new one.

I think in a country that has already received bitcoin, they will create the token itself.
 

it might happening, since putin are agree about making their own altcoin for rusia. this means rusia is prepare for what cryptocurrency would bring to their country. i think this way would drive other country to do the same as what putin might done in the future

for me i don't think is necessary for every state to create there own token.

If each state has own crypto than what is the difference between fiat and crypto, only difference is digital currency.
As we all know every token has different value for eg. VIB, DAO, EARTh, when people want to use other's state token than they will have to exchange own token into state token. But everything will be done in digitally no paper money anymore.

i don't think that it is a good idea. it is too way impossible because i think government will not allow it to happen. each currency in different countries carries our nationality. though i believe that bitcoins will be popular in each country but creating a token in each state? is a big NO! NO!

Exactly it will not be private in your country inly the fact that it can be access through the used of technology. Why do country need to make their own token? For what purpose? It will just diminished or affect the economy of your country so I think this wont happen. Just like in the philippines they mase a pesobit coin but suddenly it results to a dump of coin.

If the government will make their own country coin then it will become successful but if the creation is done by just a person then the coin will not succeed like what happened in pesobit like you said that it resulted for being a waste. One of the purpose that i think why they will create their own coin is they want to have their own version and to attract their people to just use their own token rather than using the more volatile kind of coin.

This is a good question. The countries have their own money (fiat moneys) and are used everyday. If the crypto would be a currency the whole world would be in a hurry and of course the wealthy nations and the poor would be fair. So the nations will make their own coins so that they will see how much they are at a higher price.

Having a token in each countries it signifies of what country it came from, is just similar to fiat currency that every country have their own local currency. I think it is not a good idea, because all we need is to have a single currency that make all of us unite not by having a discrimination towards others. Bitcoin currency is enough for us as considered to become a global currency aside from USD.

:-[


I don't agree with this. I mean if every state were to have their own tokens, then this will just complicate things. Imagine if you go to a different state, you need to convert your own token to that particular token just for things to work out.

There will not be a point for those tokens, the general public will not accept them and people like us that know what it is going on are never going to accept to use a coin created by a government we are not dumb the reason we are using bitcoin in the first place is because we no longer believe in the fiat printed by governments and I’m not going to trust a government with printing my crypto either.

Regarding the token of each country must explain in detail related to the purpose to the public, if at any time the country releases the government must be thorough not only for the sake of sudden or personal interest, I think the community must be guided in advance to be conducive.

I think for me,having a token in each countries it signifies of what country it came from, is just similar to fiat currency that every country have their own local currency. I think it is not a good idea, because all we need is to have a single currency that make all of us unite not by having a discrimination towards others. Bitcoin currency is enough for us as considered to become a global currency aside from USD and I also think that if the government will make their own country coin then it will become successful but if the creation is done by just a person then the coin will not succeed like what happened in pesobit like you said that it resulted for being a waste.

I was thinking of that possibility. New era of the world is coming thats why some changes must be done. China for example, they ban bitcoin because they want to have their own tokens which their people will utilize and might be competition of bitcoin. This process is evolving to different big country. But if its for worldwide? I doubt it. Many country dont have stable and fast connection (sadly, my country is one of them). If this coins/token will be use, ofcourse connectivity is an important factor to use. Maybe this possibility will take up more years to be globally implement.

yes, now every country already has its own token even though it has not been able to compete with bitcoin but I am sure one day there will be a bitcoin rival

maybe soon we can see that each state create a new token because I think they can get some benefits from this and they will invite many investors from their state to join with them. I can imagine what will happen later if every state creates the tokens because as of today, there are too many states that have the chance to create a token and I don't think that every token created will be the success in the public.

That is a fact though, that anyone or any organization can indeed create their own cryptocurrency.
Nothing is stopping them from doing so, but the process of making that token or currency survive
and endure is a different approach. It is an ambitious aspiration and maybe some have pulled it off
better than others. But wouldn't it affect the economic relations? Like any other situation, there
will always be a positive and negative factor to such a venture.

Every state have its own political will. They have its own government to do so. Every state having its family member, church, school, hospital, businesses.
If one state creates its own coin to use as a medium of exchange they can do it because the power to create is in their hands to make it possble. It should experience a little adjustment incase that it will happen. The communities have its own freedom to express their own will. They can decide to accept it whole heartedly. Everything goes according to what will be. Every decision to  make its own coin will probably take some risk to make it happen.

yes I agree with that all readings of any cryptocurrency is always access to internet that's why it is created globally and many of them is always taking a part of it.

I think its not advisable for a country to create their token substitute for their currency because its in their control, what I am expecting is that every state will create a project that is based on blockchain to improve their services rendered to the tax payers.

This won't work. Having its own token will just lower the value of the token that has not been in used that much. State economy might easily fall.

Actually, all states do have their own currency which maybe based from other countries currencies or just made and established by their own government. Well, if each countries or state will be creating their own customized tokens for different purposes or usages, it will be just fine because it has been already made since then that each countries have their own currencies so no matter what happen if they will established their own tokens, it will not be different anymore.

Already each and every country have their own fiat currencies so it is no need to create tokens for each country.The basic property of crypto currency is decentralized if it was controlled by their government it is same as the fiat economy,so creating separate currency for each country is not a good idea.

This is really possible to happen, but the question is this really helpful to some countries given that we use different cryptocurrency every countries and state, i can be a disaster to think in some country who has great inflation rate to adjust the change

I don't think this is gonna happen .

Firstly​ by each state.. we are counting those countries too that are.. unable to cope up with their low value of Currency​and poverty , those too that are always in a war against the world.. there are many things one needs to consider before creating a token ..
Will everyone be able to use it ?
Do they hold that much.. people with access to Internet .

You know in many parts of the world we aren't even anle to make sure they don't sleep in dark so .. I think firstly other problems needs to be solved or else it won't work .

I think this scenario will not be real, it is technically not very difficult, even some countries can make their own digital money. But is this necessary? It is not neccesary, I think. Every country has its own economy law.

We do have. Each country has in their own currency. Realy coin, real matterial money. I dont get what you are trying to ask. If each country will produce virtual currency base in their local currency? I dont know how will it happen.

.                     I dont think so that every country Will create their own token, because it so expensive to do it, How much they gonna pay to produce that kind of token if just in case?  One more thing we use token if ever for exchange. For what is the use then of each countries local coins if they Will produce another one. So token can only exist through computers as being a digital currency.

Those tokens that will be created through each state is like they are digitizing their own fiat system. That will be useless if they'll do that if most of their citizens are into crypto already, they'll just use that token/digital currency just to purchase things that they need and majority will stay in crypto such as bitcoin since it's value is growing. Most countries don't prefer to create their own token, they are good already with cash basis.

What do you mean with under its currency? Most countries use the fiat system where they can create as much as they want and this creates the inflation and loss of the value of our money. Do you have any idea how a government issued token could run where they can create as much as they like?

I don't understand the idea of creation of the state currency. Why is it needed if the idea of crypto is decentralisation and globalization... but I still don't believe in the idea of a single global currency because this may lead to poverty in many countries. So, let fiat and crypto exist in parallel

If globalization between countries strenghtens we can see the creation and development of unified international cryptocurrency.