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North Korea has become very interested in creating its own cryptocurrency and has a sufficient level of competence to move forward with this plan, But that's not all. On Sept. 10, Cao de Benos tweeted that the North Korean authorities have allowed citizens to own cryptocurrencies, and local developers “are designing crypto wallets and other related apps right now.

Of cos korea is crypto friendly and very supportive in any technology  aspect thats why i don't think twice before investing in korea projects, even on this bad market condition its very hard to see a korea project that fails, for example vodix, zeux ,airwallet etc are all good projects this year 2019, i find korea developers more serious than others

Op wasn't talking about South Korea


Yeah, i am not buying any of this.
Their "cryptocurrency" will probably be centralized ponzi scam and there's no way in hell that they will allow their citizens to own real cryptocurrencies when their citizens are not allowed to even use internet freely.

It's a very good news for the cryptocurrency market, and maybe other countries will follow as well, because raising a capital for your country is much easier in cryptocurrency.  I am very excited to see the progress this idea because it maybe successful or fail in future.

What's good news about this? There's nothing to believe if reported by state owned media. The situation is so dire that they don't need cryptocurrency. They need food and other basic necessities of life.

The idea of north Korean citizens being able to purchase crypto is a joke. It doesn't save them from the fact that they're living in the largest prison on earth. They could participate in existing markets if:

1) they actually had any money to purchase

2) they weren't living behind one of the largest firewalls in the world

If anything the north Korean government will twist this adaptation of crypto to become another tracking tool and social weapon against their already horrifically oppressed population.

Is that true? they don't even allow their citizens to use the internet so how come that they are allowing their people to own cryptocurrencies? they should get more attention by tackling other problems than this.

Where's the source that it's true? I think this is just a PR to show that they are also in cryptocurrencies. But the reality is so bad in North Korea that their citizens needs freedom and I doubt it that their gov't will allow them to use crypto.

Is N. Korea doing a Venezuela move too? Creating their own crypto to escape the economic sanctions by different countries? I don't know about their level of competence but I think they should monitor what China is doing and maybe learn something.

A legit news link would be appreciated @OP

I'm not sure that's good news. I'm not sure that a cryptocurrencies released and controlled by a country would benefit. Isn't Bitcoin's decentralized idea more plausible?

I might sound like a bitch but the only good news from North Korea would be when they really do something against the americans instead of just harking war propaganda domestically.
The second good news could be if those suffering people got a better life and that lard based kim dynasty just went extinct.. frankly not many russians like them as well.
For a country that can't keep the electricity on, how can they expect to use the shitcoin that they develop? This will be another failed crypto from another failed country just like Pedro.

I don't see how any real news can come out from North Korea as they have their own agenda in order to make fake news and reports. Even if that article could be real, I'm sure North Korea is well aware of cryptocurrency ascending and probably they have already developed such a coin which serves for intern purpose and it will not leave those borders and it will never be trade on foreign exchanges like any other crypto but this is just how I see things regarding your post.

Maybe in like 10 years North Korea will approach a different way regarding cryptos and they will embrace the movement but until then they will use bitcoin in subtle way like they always did. Every government wants bitcoin I north Korea is not an exception in my opinion.

The government of North Korea together with its citizens are really supportive of blockchain projects and this is good if you ask me. This can serve as a starter to the global adoption of blockchain technology and it's solutions. The support of the country has seen to the success of so many Korean crypto projects as well. Take for instance Content protocol, etc.  

I am not sure whether this is a good news for us. May be good news for people from N. Korea. Now US will force many countries to act against crypto just because N. Korea is supporting full.

How legit is this info about North Korea planning to bring forth their own cryptocurrency? Please I will like to see a URL pointing to a legitimate source if possible. If this info is true, then it's good news for crypto, although the coin will be highly centralized hence not representing the decentralized nature of crypto as it should be. I'm looking forward to seeing more countries adopt crypto in future, even though Venezuela tried with PETRO but was suppressed by higher authorities.

Not really something you would believe, this is NORTH KOREA we are talking here. The sick Kim Jong-un there must have gone nuts if he allowed all these to happen. But if they are creating their own only which is created by their government for them to have more control over their people's wealth then it must be true.

Since the Venezuela's Petro news, there had been several countries also trying to see whether this blockchain currency will also be helpful to them. I think Venezuela's success will greatly influence more countries to follow.

This doesn't seem to much of s good news. Creating more cryptocurrencies is not really the way to go, if everyone continue to create their own version of crypto, what then will happen to Bitcoin which should be getting more deeper adoption by now. North Korea still has lingering internet issue affecting the citizen. So how are they going to be able to participate in crypto?.

So far we know that North Korea has strict state regulations for its people and one of them is the limited internet access for their people, but it seems like this is one of Korea's strategies to fight sanctions imposed by Western countries on North Korea so that they can release dependence on international finance and of course this will have a positive impact on the Korean government because indeed transactions using cryptocurrency will be very difficult to trace so that North Korea can freely trade with other countries in the world. I am confused whether this is good news or bad news for the world? ???

I dont want to be negative here but even though they support or planning to create their own cryptocurrency. I dont see any good at all, since Nokor, is a communist country anf full of deception on other cointries, it's quite dangerous, they might plotting something using blockchain tech. Remember, how South Korea has been hampered with this Country, so I dont trust this news.

Good news from North Korea! Wow!  :o This is the first time I hear of something good from this hermit country. LMAO! Ever since Kim Jong-un and his father took over this otherwise beautiful country, it has known no other movement but downward.

Kidding aside, will this really bring even a dent to the market? If they are to make their own cryptocurrency, that would not be the kind of cryptocurrency that we have been familiar of. The country is centralized in all aspects. Everything is revolving around the supreme leader. That is enough for us to conclude that their cryptocurrency will be the same. Regarding North Koreans allowed to own crypto, that is not really a good news either. They are too poor to buy Bitcoin. If they can own one, that would be the cryptocurrency of their very own country.

Seriously? This country is known for its aggressive approach on South Korea and even country such as US. I think this isnt much a good news at all, I know that they are just integrating blockchain or starting to adopt cause they know how powerful this cryptocurrency later on. Blockchain can be used with a lot of stuff and application, I dont want to think putting it into a nuclear activity which (MIGHT THEY ARE PLANNING)

This is definitely good news and thanks for sharing. Korea is very supportive of crypto/blockchain and it may be one of the first few countries who will widely use and accept crypto anywhere. Even the largest wholesale market (https://www.newsbtc.com/press-releases/korean-wholesale-giant-apm-launches-blockchain-project-to-enhance-digital-payments-and-consumer-rewards/?utm_source=lx) on Korea developed their own coin as a reward to their customers, these things that they're doing will definitely help not just Korea's adoption to crypto, but is a small step towards it being used global.

Hoping that other countries will also start these initiatives and push crypto to the next level. This is such an amazing technology which solves current issues we have across different areas in the market.

This is absolutely great news, but I have a doubt because North Korea government may be centralized their cryptocurrency. When a government creates/open its own cryptocurrency it means they will not give prople the freedom to people. But still this is great, North Korean people will be interested in crypto, they will research more and later then they will know the true nature of Bitcoin, Crypto, the decentralization.

They have opinions if the creation of their crypto can bring them more money and no more. But it will be different with venezuela consider about north korea is not getting a crisis. I believe if that will be more stable than venezuela consider about there are some countries are still also supporting this country just like china.
But this country has a different opinion than china.

I don't believe it, we need to get the reference for it. If it is in South Korea, then there will be no doubt about it since they are a free country not governed by a dictator. do you know what's the worst thing about Nort Korea? you can search on youtube if you don't know because owning a bible can get you killed there what more owning a cryptocurrency?

What I want right now is the reference on where did you get this news because I have a feeling that this doesn't make sense.

I don't know about the legitimacy of this statement but it appears the country is opening up on blockchain and cryptocurrency. Another conference is set to be held next year according to this website https://nkcryptocon.com

Is this the guy you are referring to? https://twitter.com/DPRK_CAODEBENOS
I don't see any Sep. 10 tweet about NoKor allowing citizens to own crypto? I hope you are not making up stories just to get paid by yobit.

Good news for who? North Korea itself is an independent country that does not govern or govern. If you followed news this country a few years ago, surely you would declare that North Korea is a closed country. So even though they use crypto, of course they only make it for the people themselves and will not be exposed abroad.

So I don't think this will affect either Bitcoin or other coins, because there are also many allegations against North Korea for scam.

the op already stated that he sees a tweet from them but yes it would be more better if he posted a reference link to back his statement because we dont know what if the account is a dummy and not official  .  if im not mistaken i think i have heard a news before that korea is restricted from using a crypo but i forgot if what part of the korea but that would be north since you said that the south part was not strict ,  if the news was true then its another good news as this can up the price again  .

It seems that a movement to create national cryptocurrency is gaining momentum in Asia. Following China, North Korean authorities announced their readiness to issue cryptocurrency and even indicated the availability of all the resources needed, both technical and human - to carry out this task.

Care to share the link where NoKor announced their readiness to issue crypto? Or did you just spin what was stated in the OP?

As a country in full control of all the activities of its citizens, North Korea's openness to cryptocurrency is very good news. Although this is not new news, because since 2018 there has been news that North Korea is holding a kind of conference related to the use of blockchain and cryptocurrency. There are even rumors circulating that bitcoin is used as a source of funding for the development of nuclear weapons there, whether from hacking and mining activities. I don't know, it's just a rumor, it could be true or not.

And how do they find out about the bitcoin when they are under probably most oppressive leadership with restricted access to computers or any kind of information, let alone having an access to the internet?

In my opinion, with a closed and centralized country like North Korea, they can easily create a cryptocurrency, but having their own cryptocurrency will probably have no effect. to the cryptocurrency market.

Honestly, this news is completely unbelievable. In a state where there is almost no freedom for citizens and where they practically do not know what the Internet is, so that they are allowed to use and own a cryptocurrency? If this is so, then most likely it is a political action that will not be filled with real content. The political power there is really interested in cryptocurrency, but only with the aim of opposing South Korea and the United States. There it is done for hacking servers, stealing cryptocurrency and the like.

For more information : https://cointelegraph.com/news/report-north-korea-in-early-stages-of-building-own-cryptocurrency

It is North Korea that stand behind this behavior so I do not know what to understand but I do not feel like thinking something positive.

Look carefully what Korea they are talking about. not South  ;)

I do not believe this.
Most North Koreans do not have access to the Internet so how do they own cryptocurrencies?
Besides, the reputation of the North Korean government is also very low, so even though they issue cryptocurrencies, it is very difficult to succeed.

well that's a very good news and for sure if that things happen bitcoin will move forward again.  Because you know bitcoin is the most popular cyrpto currency on this market,  so once ppl from south korea start accumulating crypto currency for sure they will prefer to own bitcoin. So that's totally a good news because there's a possibility again that bitcoin will pump.  

It was said that due to transaction speed and convenience is the initiative reason of North Korea in accepting and having cryptocurrency even they are known as very secured and not tolerating changes from different countries but they see cryptocurrency as independent that no one can trace any records made from them even US Government. This is a good news for everyone since they they are known banning cryptos before as well additional investors in the crypto market growth.

https://cointelegraph.com › news
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North Korea Wants Its Own National Crypto, CBDC Fever Spreads in Asia

Here we go, a great decision from North Korea is much appreciated. And I believe this will boost the investors to be focused on their coins, I thought like this will be the only country without using digital currency in future but their intend looks different in this case. A big thumb up for North Korean people's. Their first motto is to create their own national crypto, slowly and steadily things will change.

ROFLMAO.

I have seen all sort of fake news here in Bitcointalk, and I would be ranking this particular piece as one of the most outrageous ones I have ever come across. First of all, internet access is available to only a few thousand individuals in North Korea. If people can't access internet, how they are going to own cryptocurrencies? The number of smartphone owners is much higher than the number of internet users, but the government approved smartphones can't install any of the cryptocurrency wallets.

However, North Korea has its own group of government funded hackers, and these individuals are suspected of many of the recent crypto-exchange hacks. According to mainstream media reports, North Korea is using stolen cryptocurrency to circumvent the UN sanctions. But this group numbers a few dozen at the most, and I don't think that anyone else uses cryptocurrency in DPRK. BTW, people caught with USD or Euro banknotes are punished in North Korea. Do you think that the treatment will be any different, if they are caught with BTC?

Just to provide my opinion about it, I have a project known before, it was grabity, it was managed by koreans, and I saw the project at first is developing but later on, their announcement regarding their project changes drastically. And right now, I haven't heard of them at all. We can think about it, not all korean's project became successful, and also, North, and South Korea is very different. Cryptocurrency on south korea is very well known, but in terms of North korea, it is a big achievement that they are now starting to utilize crypto.

Man speaks of North Korea, not of South Korea. With South Korea, everything is clear, they have very developed crypto projects. But for North Korea, for this closed country is very unusual.

Maybe you're right about what you said. Nevertheless, I think it would be very promising to make such an adaptation move. Because even the speculation of this news can affect investors positively. It may even affect other countries positively and push them to make the same decision.

North Korea always makes fake news and reports to manipulate their citizens and the whole world. I don't believe this information. North Korea has really strict state regulations and one of them is exactly to limit internet access for their own people. So, it's hard to believe that their president is going to support cryptocurrency and freedom it gives to people.

Kim knows what he is doing, if they do not buy his cryptocurrency, they will cut off a finger or worse shoot) just the crypt will go to the masses, thus its growth will be significant. I think how will this cryptocurrency North Korea itself will buy a little.

It is not the North Korean regime that is behind fake news like this. Bitcoin news sites such as Coin Telegraph has a habit of dishing out crazy stories as clickbait, to gain more traffic. This news article is no exception. What makes this different is that this time the OP hasn't even bothered to give any source or URL for his claim. I guess he wanted to have a popular thread against his name, at any cost.

Following that idea, How this close door country will be sue if scam happened? there's no opportunities for anyone to chased whoever scammers that hiding inside this place. It's hard for anyone who have a wide interpretations of business partnership to deal with this project, It's all about money and when that fiat speak up it can change people's mindsets,.
Needs to consider many things to protect your investment, don't be a blind investors.

I dont think if South Korea create a good thing they wont release other people from them :)

Could be good news but many people have their own crypto will make market not good, too many competitor. So far, South Korea I believe not allow crypto in their country, blockchain yes but not with crypto. I think this is fake news, stay away from this rumors and good luck to you.

What brings this if a North Korean citizen will hold crypto currencies. Unfortunately, 99 percent of them can afford several LTC per month, if they are lucky, refuse to eat and pay for rent. It is a really poor country.

North Korea is the best option for cryptocurrency become legal, maybe North Korea have many people interested with cryptocurrency and blockchain technology, they want have own cryptocurrency for legal payment in their country.

Its good that governments are interested about cryptocurrency. Crypto world still so small when we look from global economic perspective.
I also know a few countries who are also interested about developing their own cryptocurrency.
With these movement crypto become more popular between people and the value of the crypto will increase for sure.

Every country will create there own cryptocurrency in due time!
Everyone of them! there will be coins or tokens to lift them up!
that is the faith we are going to have! this is cryptocurrency like barter from FIAT and now from FIAT to crypto!

I do not think that this is the way how to gain adoption of cryptocurrencies.
China, North Korea, ECB are creating own cryptocurrencies, but why they don´t use Bitcoin? They want to manipulate the system?

This news had become a hot topic among Blockchain and crypto activists. North Korea has announced plans to hold an international blockchain and digital currency conference. This also marks the first time that industry experts are openly invited to the country. In addition, many analysts claim, North Korea might be supported by other countries - such as Iran, Russia or Venezuela which have already explored national digital assets to bypass US sanctions.

I don't know why people are excited about this project, it is a dark project IMO and add nothing or no value to the space, it is not that North Korea will make Bitcoin legal for use in their country. Let's say one of the Western countries is the one diving into Cryptocurrencies then we can begin to cheer but an Authoritarian country.

As mentioned above it sounds like you're confusing north and South Korea. They may as well be different planets if you consider law and social policies.

Nothing positive comes from North Korea. In recent years there has been more propaganda than ever with journalists or photographers traveling there say it isn't that bad.

Any human with common sense can see through the bullshit. North koreans are one of if not the most oppressed people on the planet.

I watched a documentary where workers in a salt miner who had gone blind or partially blind received pro bono treatment to correct their vision. Some of these people were seeing the world again for the first time in a decade. The very first thing they did was not thank the doctor. No, they dropped to their knees and prayed to their great leader promising to mine more salt to make their government happy. That's terrifying.

This is big one.  I wonder how public cryptocurrencies are going to be used there without problems? I thought the country has a closed internet/intranet of some sort. I guess the country's internet will eventually be open up to the world? This is probably mere rumor. You should have added a link to a credible source.

I also think that this is not true. Perhaps in part the cryptocurrency market will function there, but obviously not for all citizens. But time passes and it is possible that progress will take place even there.

I think the point of creating national cryptocurrency projects is just that. This is a kind of analogue to the usual national currencies. Any state wants to control the financial processes in their country. National cryptocurrencies will allow full control of the blockchain systems and at the same time take full advantage of the technology.

North Korea is a totally closed community. Kim Jong will declare himself the creator of cryptocurrency and make a statue of himself.
I don't mean to say North Korea is uncapable of creating something good as they are one of the best hackers in the world but any good that doesn't reflect with their general population is useless.

It's hard to believe this type of news because it sounds too impossible. North Korea's internet is restricted so how are they going to access cryptocurrency? Because of their culture and their government, it's impossible for them to accept crypto as another currency. Citizens are under the control of the government so it will be hard for them to access crypto on their own.

This kind of government will not allow any people from their place to take advantage of cryptocurrency, They are trying to create their own versions of crypto coin as an answer to this emerging new system. The leaders are not ready to allow bitcoin as they can't control everything and instead of adoption they are introducing the versions that they can easily manipulates and control to whatever they want.

I think this is a big step or move by North Korea to get doors open for Cryptocurrencies.
This will not only benefit that country's users but will also help entire cryptocurrencies market a kind of boost due to increase in investment.

Hmmm! little rocket man trying to get freedom for his citizens. This will help his citizens to gain from the global market, as for the state cryptocurrency, I am sure the US may thwart their effort because of existing sanctions. They should just adopt bitcoin as an alternative payment medium and forget sate own coin. 

there are lots of mouth watering projects in the news and I think they could bring money to the space. I hope we have some stable coin and more of volatile coins, cause volatile coin are liable to encourage massive trading volume and more fund. Asian market is big, with wider adoption and fund, they should not just delay any more.

North Korea though having a bad record. if they are really and genuinely embracing cryptocurrency for purposes of noble and civil economic expediency, this will go a long way in ensuring global acceptance. Who knows one day we will look back and remember them as having helped transform cryptocurrency perception. 

Although quite controversial, this rumor is not something new. As a fairly strict country, North Korea plans to create their own cryptocurrency, of course, this makes it easy for governments to monitor the "activities" of their citizens, the internet is controlled. Either this is just a rumor to frighten the US or indeed a strategic step that might be able to go beyond Asian countries that have adopted cryptocurrency first. I am sure with the various benefits of using cryptocurrency, this could be not just a rumor.

Great to heard about the good news, well" meaning crypto is important currency and a lot of government realized crypto are can bring good economic growth to adopt crypto at their nation. This decision of north korea to allowed crypto to use their people and to use crypto wallet is great decision to help people convinient to make online payment and transaction using the new technology.

at the end, every country will have some sort of crypto currency
it will be a bridge to easily enter to crypto space and invest in crypto

For some reason, I don't believe that because Korea is not a developed country. Most people there are poor, and they have not used new technologies, what kind of cryptocurrency can we talk about?

For now it was just a mere speculations regarding North Korea, but if ever there's possible implementation I guess the government also is within control with the situation since it was not yet fully developed country. Technologies like crypto was not fully merged with freedom unlike with south korean government.

Maybe they wanted to create cryptocurrency that is only available to their peopel and so the people of North Korea don’t need to buy bitcoin, this is truly an impossible thing to a country where you have a limited access online or none at all. We will see if this one is true or not, let’s see if they will continue to control their people.

The question here is that, if they are allowed to own other cryptocurrency like bitcoin and other things because as far as I know, the internet connection their is limited and you don’t have the right to access things that is beyond the control of the government. If a country like North Korea fully adopt cryptocurrency, I’m sure more countries will do the same.

While this seems to be good news for crypto, i doubt North Korea.

It is well known that it's citizens are ruled over by dictator who controls almost every aspect of their life (at least so i heard). Given this, i am doubtful if their cryptocurrency will ever be exposed to the public and it will just probably be kept within their country.

Thinking deeply about it, it was good for cryptocurrency adoption to have news like this. But in my perspective, North Korea is not that ready to transition their fiats to cryptocurrency, not all have access to news and updates about cryptocurrency, in that regards, I fear that north koreans will not be responsible enough to handle their cryptos, or it might be a form of control to them by their government.

Yes, the North Korean government is very strict. I don't believe that they created their own cryptocurrency, is it possible that their own people are promoting crypto without other countries knowing, and what I know is that South Korea is growing rapidly in the world of cryptocurrency.

Always give news for many country want to make own new cryptocurrency last six months, but we are never seeing which country are so serious for create their own crypto. They always give an issues without real working about how serious want to make new crypto and give regulation for bitcoin or altcoin.

I think North Korea's main expertise in crypto currency firmly land in the realm of running botnets, hacking exchanges,creating phishing sites and backdoored wallets.

Countries creating their own crypto? We had a few examples in the past. Venezuela recently came up with their own crypto called "Petro", which was backed up with petroleum reserves (they claimed so). The Central Bank of China recently announced that they will be dishing out a government approved cryptocurrency. But till now, they don't have any finalized product in their hand. These are real and verified news, unlike this piece of BS from some fake news producing factory.

But that said, what is the purpose of a government issued cryptocurrency? The most important benefit of Bitcoin and many of the other cryptocurrencies is that they are decentralized (i.e they are not controlled by the central banks). A cryptocurrency that is issued by the government won't be having these benefits. There is nothing to make it any different from a digital version of fiat currency (such as PayPal or Qiwipay). We should consider them as variants of fiat currency rather than crypto.

Oh gosh that might be an interesting experience. I hope there's no hidden conditions about the nature of crypto that is allowed.

This is good news for North Korea citizen as cryptocurrencies are changing lives and especially the poor countries like North Korea. North Korea's govt decision will make Korean people happy and healthy in the near future.

I am not sure about it.
The people there have other problems than crypto.
If they have enough money for a computer and an internet connection they maybe can profit from the rising of crypto.
But in the next future I think x10 at BTC is possible not more.
So if the people there would invest 100$ they could earn 1000$, not that much for a whole life.

If there is no food available to buy it doesn't matter if you can afford to pay.

we cannot know in advance how much bitcoin can grow in the future. if the technology can implement everything for which it was created then in the world there will be 90% of cryptocurrencies and 10 percent of existing money but in electronic form. and then bitcoin will be able to grow much more than 10 times

I see there is a block chain conference in February next year.I guess best is to go there and see how they progressed. https://nkcryptocon.com/

well, probably the dictactor has no money left.
and then they create some shit coins for raise money so that he can rebuild his nuclear and create a furor back in the world,
or the dictactor suddenly be good people and then, create altcoins to feed its people on their country.
its not a good news for me, even it come true , i am not sure the citizen will have directly their nation coin.
since internet its something rare on north korea.

Well anything is possible anywhere and if they can truly do something for their people to bring them out of poverty, then this could be it. We know it is one of the most repressive regimes in the World, but it could mean that they might be opening up a little bit, Like China did in the 1070's1980's because if they want to stay in power long enough before another revolution happens, they will need to start feeding their people, otherwise they can't last forever in power. Maybe Crypto might provide some of the answers for them.

Allowing their citizens to own cryptocurrencies means that they will also allow them to use internet.
AFAIK, usage of internet for the citizens isn't allowed.
I think that contradicts with what op is telling us.