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After Facebook announced it's Libra digital currency, several countries have expressed their interest of launching a digital currency of their own. China has already announced that it'll be working on Blockchain technology for a digital version of the Chinese Yuan while other countries have done the same. Most recently, German banks have requested the European Union to launch a programmable "digital euro" that would replace the current monetary system (physical Euro). All these developments shows us that we're getting closer to a "cashless society" than we've thought.

While all of this is exciting, it seems that the USA will be left behind in the development of a blockchain-based "digital dollar" (USD). After all, the country has been known to be quite strict about the development of the crypto industry. With many fierce regulations against crypto and Blockchain tech, many mainstream crypto businesses and companies have decided to stop providing services to US citizens. Poloniex will no longer serve US customers, which greatly diminishes the adoption of crypto within the US. This makes me wonder whenever the US will allow a "Digital Dollar" to happen in the future or not? If it doesn't migrate to the digital realm, then I'm afraid that other countries will take the lead in the world's economy. It's a matter of being ahead in the latest technologies to obtain supremacy. If the US remains reluctant to accept Blockchain technology into its current monetary system, then it'll be left behind without a doubt.

What do you think? ???

Who knows if one day they would announce that they would create their own digital dollar on least we expect.
We've known that US govt is really strict to cryptocurrencies but it wont really be limited generally in terms of blockchain tech
and things tied with it.They might possibly consider it but we dont know on when but for now they are just sticking up with their
own laws and terms.

yes who knows.

but weren't USDT the first to have been created as stablecoin in crypto? it may not be backed by the government but its something they could track still since its centralize. its interesting to see if the blockchain of these government backed digital currencies are for open to public which the address of institutions are also being identified because if its gonna be that way, government are going to have a transparency, i don't think they'd like that.

Wouldn't it be useless as it won't truly be a cryptocurrency. No matter what there is no chance in the world that US govt. wont keep regulation upon their currency which means chances are that they would know who owns how much and who is transacting with whom irrespective of calling the whole system decentralized. Secondly what about the demand supply issues? Cryptocurrency's power is in it's hard to mine quality which may not be a priority of currency which US govt. would develop as they would want something whose supply can be quickly created or destroyed. So one way or the other we would end making this cryptocurrency much like fiat only.

Governments and central banks were talking about digital national currency even before Bitcoin was a thing, yet we all see what came out of it - nothing. All these digital currencies don't exist even in project, all we have is statements from some official saying "yo, let's make digital currency". USA isn't lagging behind anyone, and I think it's actually smart for them to let others go first and then only develop a national digital currency if it is indeed beneficial for them. We actually have one example when such project failed - Venezuela's Petro.

Absolutely yes! Digital dollar is not just a mere possibility, it's an imminent future!

Majority of the developed nations will digitize their fiat system sooner or later because it has some major benefits if seen from the perspective of a government. It will offer them the power of supreme vigilance.

Supreme vigilance: if the entire fiat system is channelized through a digital platform, enforcement agencies will have complete visibility on what's happening on the economic front. Money laundering will be caught immediately. The chances of tax evasion incidents will be reduced to zero annd most importantly, financial crimes will be easier to catch and prove.

So not just US, you can expect all developed nation to issue their own digital currencies in future.

It's actually pretty interesting to see that Libra, a coin that was shot down by a lot of people, partners and the US government has sparked a trend in the world, and has likely been a reason to some of this happening so soon. Although I don't think we are going to see a cashless society, cash is still very useful for a lot of people, and instead, we might see something where governments transition from their currency to a virtual kind.

It does seem true, it's been left behind in the blockchain race, even though there are an abundance of companies in the US that are willing to work with blockchain, I'm 99 percent sure they must have some sort of undercover team working on it though.

You know that most of the Bitcoin developers originated from the USA right? The USA can quickly get some of these developers together to create

their own government coin. Ripple will be too glad to fulfill that role and Mike Hearn and his team are already geared to provide their surveillance

coin/technology that they are working on now. Nothing in Crypto currency is protected or intellectual property rights signed to one entity, so they

can just take what they want. If you ask me, then I will say the US are more than ready to launch a quick US version of Bitcoin.  ::)

United state ask to other country keep adopt USD as currency payment for every transaction in the world and never take chance with other digital currency like Bitcoin, the United state have try to stop using bitcoin as investing assets and banned using bitcoin in their country, they ask many country for stopping their people use with bitcoin and back to the unusually transaction by USD but China have fight with using their own crypto.

Is it being traditional of the US government or being Patriotic with the images in every dollar bill?
Are they just hard-headed?

They have their reasons. Trump is one which in disagreement about this. That is their President.
With half of the US citizen which believes him then I guess it will be difficult to change that kind of belief.
I don't really know what is going on in his mind but I do think it is deep.
There might be something that could affect their financial industry which Trump owns a large percentage of it.

USA may not be pioneering this move towards currency digitalization but eventually it will adopt into it when many countries have already successfully entered the game. Now, being not the pioneer, USA can be spared from the many mistakes that the pioneer will eventually be making, so this can in fact be an advantage. The strength of the digital version of any currency is still dependent on the strength of the real fiat currency, the one backing the digital. I am sure that central banks are now seeing this digitalization move as an opportunity to be able to control the fiat money movement and the chance to just produce the digital money almost with no cost plus these digital currencies can be tracked and controlled, the best joystick for control-leaning governments. With that scenario, should we not be happy that USA is not on the lead?

The reason bankers and the wealthy are throwing mountains of capital and political leverage behind mass adoption of cashless societies is the greater control it offers. If they illegalize cash and paper money. Then they have complete control over monetary transactions. They could ban demographics whose politics, opinions or views they dislike and there would have no other system they could utilize to buy or sell things. That's the motive behind the large campaign pushing "cashless society" as an ideal.

You can see something similar happen with internet personalities that are banned from social media, instagram or youtube. That's the future the rich and powerful want for money. To create a cashless frontier where they can simply ban anyone who doesn't adopt their values, politics or lifestyle.

In the end, isn't it just a coin without it's physical matter? BTC was famous, growing, invested on, and believed to replace fiat is because it isn't controlled by anyone, backed by the miners mining them, and is safe to say that no one could probably obtain ownership of them. Plus, once the mining era is done, BTC basically has a limited supply, avoiding the issue of inflation which is caused by the ability of the current fiat system to basically just keep printing money.

I'm not particularly sure how countries would even plan on letting their coins flow in the world, but I see no difference with the current fiat except that its a virtual currency. Plus, it lost its entire purpose the moment the government made them, since it's basically defined as being monitored by then.

To think that the United States will be left behind is something that I have not seem to phantom and it won't come as a surprise should they also announce their own digital currency which might even surpass the countries that seem to take the lead here. Facebook would go ahead with the backing of the United States and when they combine forces, it just go way ahead of any national digital currency that is either out there or about to launch. I have a feeling that because of the current political landscape that have engulfed the entire space in the States, there is hardly any room for news or announcement but that does not mean that serious research and development is going on underground.

The world is a lot closer to this than we think. Sweden (https://www.telegraph.co.uk/technology/2019/10/10/can-learn-sweden-ultimate-cashless-society/) and China (https://www.straitstimes.com/asia/east-asia/chinas-march-to-be-the-worlds-first-cashless-society-china-daily-contributor) are increasingly going cashless, and contrary to what most crypto enthusiasts think, it doesn't necessarily have to be done on the blockchain, or have anything to do with crypto at all.


This will only be true if a blockchain-based or crypto-like national currency would be as important as you project. As China and Sweden demonstrates, digital fiat is already a thing, which leads me to question the significance, and even use case, of a national crypto. We all know that China is challenging the US for global supremacy, and the fact that the US doesn't feel the need to announce a competitor to China's own crypto implies that they don't think it's important for the global race. China's own crypto could very well be just a tool to apply even more control on their citizens without any global use or impact whatsoever. Either way, all we can really do is wait and see.

The Chinese stable coin has already been announced to the website of Tether and it's going to be CNHT. This broke the news of crypto ban to the country years ago and this is a good progress not just for them but for the crypto as a whole.

With the moves of US gov't, we don't know if they are just playing around and soon they'll also join the adoption. But I never thought of it that they'll be left behind specially when it comes to this kind of innovation.

I think it's also governments who are heading off currency liquidity risks. Everyone is becoming increasingly worried about the next financial crisis and its effects on liquidity. When depositor money is locked inside the banking system (as opposed to cash), it's easier to prevent shocks to the economy. There are no bank runs in a cashless society.

In fact, America is a country that is ahead of the trend and they are very good at technology. For blockchain technology, they are still applied in many businesses producing or distributing products but they just do not support large enterprises entering a market full of manipulation. I think they were right to stop aggressively on the Libra project. If their country has a very large business that cannot control its cash flow, it may cause further harm in many other countries.

I think that in most of the announced cases, nothing further than the announcement will advance.
In any case, until the first precedent for the release of such a working and fully functioning product appears.

In my opinion, too strong a smell of politics hovers around such statements.
Now every country, one way or another, is trying to show that it understands the digital field no worse than others.

I hope so. After all, the US has been known to be quite restrictive when it comes to crypto and Blockchain technology. Even the President of the US have expressed his negative comments about digital currencies (mostly related to Libra). If other countries take the lead in adopting digital currencies of their own, then I see no other way for the US to survive with USD as the world's #1 reserve currency. I guess that once the US sees other countries launching their own digital currencies, it'll be forced to launch a digital version of the US Dollar within the mainstream world.

I have to agree that with Blockchain-based digital money, it becomes much easier for governments to be able to track malicious actors on-chain. Money laundering and other criminal activities will be reduced to a minimum due to the transparency of the underlying Blockchain ledger. Government-sensitive transactions, can be easily obfuscated via the use of privacy technologies like ZK-SNARKS or even Mimblewimble. Considering that our world is becoming largely dependent on the Internet, and electronic payments (like credit cards, etc.), it's likely that every country in the world will have their own digital currency within the not-so-distant future.

Nonetheless, time will tell us if a "Digital Dollar" will become a reality or not. Everything will depend on the US government itself in order to eliminate physical cash (USD) for good. With the US' collaboration, we could experience a cashless society sooner than we've thought. I believe that slowly but surely the US and other countries will start launching digital currencies of their own until physical cash is wiped out of existence once and for all. Just my thoughts ;D

I guess this will be built on so called private Blockchain.
A Blockchain isn't really a Blockchain without being immutable, permissionless, censorship resistant, decentralized, transparent, anonymous, trustless etc.. In my opinion, if your Blockchain does not meet up 50% of this standard then it's not worth being called a Blockchain. Better they just stick to normal centralized method for "better experience".

Well in asia cashless society is already a thing using digital payment that's centralized and not blockchain based but instead some financial technology company are competing to gain the biggest market share. These cryptos that are backed up government currency may become something in the future and there's no doubt that the blockchain system could be the advantage compared to any other digital payment out there although it may be centralized and as usual, the government will hold a huge portion of the total supply I guess. But who knows right?

There are several digital currencies already in Asia, say for example Alibaba they have their own platform and is widely used in China and still expanding to other countries. A government back digital dollar or cryptocurrency is a good move for government to counter some financial institutions' dominance. here a country can issue and control its own currencies sam with other countries without lending from World bank and other financial institutions. Though this is maybe inflationary but lets the government tackle this.

What is so special about government backed digital currency if there's already one created by private companies out there. Take it for example Apple pay they just work basically the same as any other digital payment application and the function is just well as the name says to pay something and now recently Gcash aswell. Such a thing as Government backed digital dollar is actually just a waste of time because there's no advantage to having it while some other services are already providing similar option. The government is not going to compete with corporation and private company because they are all about free market (although government could). The only difference about it is that Government print the money meanwhile service like Apple pay and Google pay are reserving the fund in their system.

I believe that all developed countries will eventually eliminate paper money and coins. It’s just going to happen at some point. All transactions will be digital whether it’s a cryptocurrency or just bank transfers using debit cards or some new technology.

Governments control our money in every possible way. And they move the market according to their Desires. If we face any financial crisis, authorities are responsible for that. To save oneself from such situations, it is best to invest in Bitcoin and other decentralized digital currencies. Bitcoin should be the first preference due to its ability of producing high profits within short duration of time. Banks will stay with us forever by evolving in accordance to changing time

As long as the US remains to be the number one bully of the world and as long as Trump is seated as the POTUS, no change will ever happen for the US, and no initiative from the current government would be seen to improve whatever things need to improve in there. Not that I'm saying that our society now needs cryptocurrencies as a step forward, but at least just the thought that a change needs to happen from our current flawed system. But then again, it seems like the US has their attention and energy directed towards the admin's enemy on the seat and not the welfare of its constituents.

The government definitely isn't about free markets, because if that was the case they wouldn't kill off free market participation by overregulating every aspect of the markets within their borders.

When it comes to money, governments are ruthless, which we have seen with Facebook's Libra. If the government was about free markets they wouldn't have been so hostile against the issuance of their corporate form of money.

That was to be expected. Facebook has a potential reach of 3-4 billion people worldwide. This is the first time in history a company has that much power.

I would shit my pants right off the bat as government would I find out that they are planning to launch their own currency that's backed by a basket of fiat currencies. It got the us government so worked up that they found it necessary to praise Bitcoin and point out the flaws of Libra as a currency. 

I do not mind Libra because I truly support free competition between different types of money. Another benefit is that it could help this ecosystem attract more liquidity, which it badly needs. People might not like centralized stablecoins, but they have propped up this market a lot and they will continue to do that.

How come you skipped Petro? It was first government coin. I believe is like 2 years old. Yes it have big problems with adoption, but that is normal. Specially since there is such hate of Venezuela in some parts of the world.

Many countries want to stop for launching Facebook or Libra coin because they keep backed digital dollar or USD using for every transaction, I think they don't know whit USD always have inflation price every years but keep trusted with this currency, why not give chance for bitcoin become legal currency and looking how increase their assets without inflation value after ten years later.

First of all, You have to adopt every new invention for your own interest, In the case of the USA will not accept Blockchain technology then they will run behind in the future, I think the USA government will take a u-turn towards the blockchain system, I think most of the government will take their own position in this platform because it will be the future money and cash money will not be available in the coming days. not only that Germany and China but also some other countries will start creating their own crypto and in this way, cryptocurrency will be the mainstream in the monetary platform.

US might also adopt a digital dollar but as far as their regulation is concern I think it will not happen very soon will also spark a new debate and opposite opinions. But once the government will implement something there’s really no barriers can halt it.

The potential gates for adoption of the largest official economy are always centered on the US and China, their influence is very strong globally, China has presented itself to the blockchain and stable coin, but the US prefers to tighten many things beforehand related to pre-regulation for how to control all transaction flows, they begin with an obligation to replace a special US-based website exchange domain, as a condition for all valid exchanges. Digital dollars will be a strong ammunition afterwards, I think they are still keeping it a secret at this time.

Its banks and regulated finance that is usually the biggest offender in regard to liquidity risks. It never takes banks long to move in and offer capital support to countries like russia, drug cartels and terrorist groups after the US passes economic sanctions against them. The type of news story posted below is common for the banking industry.


Long before bitcoin or digital currencies existed, it was common for many to criticize the government and banks for "creating money out of thin air". That is the original source for that trope which today is almost universally made exclusively against bitcoin and digital forms of money.

Banks and governments might be said to represent the biggest liquidity risks across the board in terms of them doing business with groups and demographics under sanctions, expanding balance sheets and money supply without proper oversight or accountability and greatly exceeding what might be described as safe levels of debt in terms of state deficits which are commonly measured in trillions.

Exactly. The Blockchain without its key characteristics (immutability, censorship-resistance, and decentralization) cannot function as intended. Centralized digital currencies would look more like databases instead of a real blockchain. That's the case nowadays with Ripple's XRP where the company controls the whole digital ledger as we know it. They control a large supply of XRP tokens across the network, making it more like a central bank 2.0 than anything else. If governments decide to start rolling in their own private blockchain solutions, then I believe they'll fail in the long run. It's best for them to create a sort of sidechain or simply a token within an existing public blockchain network in order to increase security and reliability. But that's a decision governments would need to make if they're planning to launch a digital currency of their own.

As for a government-backed digital dollar (USD), everything will the depend on the US government itself. We all know how fierce US regulations have been towards the crypto/blockchain industry in general. Many mainstream crypto companies and businesses have flocked from the US into other countries because of this. Even now, the US has been reluctant to accept Facebook's Libra cryptocurrency from becoming a worldwide digital currency. If other countries start rolling in their digital currencies successfully, then the US might be left behind. I'd be surprised if the US announces that it'll launch a digital version of its USD that would make use of Blockchain technology. :)



Of course, how could I forget that? Indeed, Petro was the very first government-backed digital currency ever created. But, it didn't turned out to be successful after all. That's why I didn't mentioned it in the first place, since it never came into light within the mainstream world. It didn't last for long, probably because of pressure from the US and among other factors. Still, I believe that this movement from Venezuela may have encouraged other countries to do the same.

The world's most prominent countries (like China and Russia) have already announced that they'll be launching a digital currency of their own. With Facebook's announcement of Libra, the process of government-backed digital currencies has been accelerated by a long shot. Soon, we'll be able to interact with digital Fiat leaving physical cash as a thing of the past. But I'm concerned that if the US remains behind other countries in launching a digital currency of its own, the USD will be replaced from its status as the reserve currency of the world. The US needs to adopt the latest technologies (especially Blockchain technology) to stay ahead of the game. Just my thoughts ;D

For sure thing USDT is backed by anything that has a value, it would not be pegged on USD if it is not. Aside, they already proved this one. USDT as centralized and regulated might be the reason for the government to be transparent in terms of financial.But as much as regulation is concern, we might still not be able to use any of these government backed cryptocurrencies for daily living although it would only look like a typical fiat.

The negative rates that have been generated have been very high, since the FED has washed their hands and said they are not concerned with fixing the problem, what they have in itself is despair that they are disguising it with Blockchain, with Blockchain and a development In Cryptocurrency they know that they can have fast liquidity, only with a PUMP when they are launched they will capitalize a lot of money, which, in the same way they will use to pay debts, the hegemony of the dollar is a fact, but the economy is suffering worldwide falls, there is no longer how to make up without beginning to see some economic losses.

Honestly, who cares if gov'ts adopt blockchain tech for their own currency or anything else?  If any country creates their own coin, it's going to be centralized and used to track their citizens' financial transactions.  That is not a good thing at all.  There is still no way to have complete anonymity in a financial deal than using cash.  Paper currency or coins.  Even bitcoin can be tracked somewhat, because it is only pseudo anonymous.

I won't celebrate any of this, not if they're using blockchain technology to limit people's privacy, and that is precisely what will happen with a state controlled coin.

People don't know what cheer for anymore. If they read about blockchain adoption they automatically think it's going to be Bitcoin or any of the other shitecoins, but it's nothing of what we value about the existing distributed networks. The whole idea behind private networks is control and privacy for the one in charge, which is the government.

Everyone using that network will end up suffering one way or another. All it takes is a payment to the wrong entity (can be an enemy of the state, crypto exchange, etc) and you will lose access to the network and thus your money. If that happens and you don't own an asset like Bitcoin that allows you to transact permissionlessly and digitally, you have a big problem.

Whatever currency, may it be a simple digital dollar or a blockchain-based cryptocurrency, for as long as it is government-backed will have no future. That does not represent the real philosophy behind the cryptocurrency that is being promoted and started by Bitcoin. It will have to be decentralized and anonymous or else it will be nothing at all. It will have to be open source, transparent, and has a limited supply or else it is just as useless as the USD.

I think that many think that it is kind early for them to jump into creating a centralized government based crypto, while it is still a new concept, especially with most of the crypto supporters not agreeing with this kind of currency, Countries like China is trying to take the risk because if it succeed it will pay off and they will take teh lead in the market, and the US is just playing it safe and watching from a distant but i am sure as soon as they see profit in it they will jump on the train as well.

Can anybody explain me for that govs needs own crypto?

In the next five years we will see many countries launching their digital currencies and it will be another shit storm battle and the weakest one dies off, if people need to purchase those they need to implement a regulation so that you could purchase products with the digital coins and if they regulate bitcoin then they will be able to use it to purchase bitcoin and the decentralized market with those centralized coins.

This will be soon. but the way they treat libra is right. Because a business becomes too large and uncontrollable it becomes a slow and very dangerous bomb, which can threaten the financial and political situation of the United States.
But in the future, they will certainly study and set up electronic dollars as soon as they realize there is high demand. Anyway, I still trust Americans in technology, they have a lot of smart minds.

I don't know when they will create their own digital currency but now China has created their own cryptocurrency.  I just think that China's creation of their crypto is just against Bitcoin and satisfies the Chinese people's desire to own crypto.  Whether or not the United States creates a replacement USD currency is not important because their economy is too large, and if creating crypto, only the Fed has the right to create it under the permission of the US government.  If the United States has its own cryptocurrency representing the USD, the global crypto market will flourish.

China's cryptocurrency is not yet existing. It is probably against Bitcoin but it is certainly not the people's desire to own their own crypto. It is more of the country's desire to create their own crypto knowing that it is going to be the future of money. And they cannot allow other crypto to be the main currency within their territory.

The economy of the US is large but so is China's. If the US will create its own crypto and the Fed has the only power over it, it is going to be much worse in the totalitarian country of China.

The reason we are moving towards a cashless society is because the government can track everything compared to cash payments. This may project our society into "the next stage" but at the expenses
of privacy. It's the same concept as we did with smartphones

The sad part is, if they control a currency it is still centralized and it doesn't really make that much change from the current one. I mean whats the difference between regular dollar that is under control of USA or FED and a digital stable coin that is still controlled by USA or FED? Seriously there is absolutely no difference. After all isn't most money in dollar form is in digital bank accounts right now (or shares, dividends, forex and so forth?) so all in all the dollar is as digital as it gets.

We don't like just because it is digital, I mean there are MMORPG games that has game currency as well that is digital, do we use them like this? No. We like bitcoin because it is decentralized and under no one's control. Not much we could do if they want to build one but I rather them not doing it.

Are you sure about cashless society? Do you think that having a digital version of the currencies we are using today will stop the use of paper money? It's not going to happen like that. You need to do your research properly. Digital money is only going to make transactions easier, we won't be making use of long processes to send money abroad, that's the reason for digital money. When you have a digital money you can then redeem it for the real one in banks.

JP Morgan Chase have already created a prototype cryptocurrency, you should check out their website to know more about it. If that turns out to be a success other Banks will do the same. I believe that as time goes on and we begin to have digital currencies there will be special wallets dedicated to it, other online payment processing companies like PayPal might be part of it in building a wallet that will allow users to receive the crypto version of every currency and then redeem it to their bank.

Privacy is the biggest issue when all the government start pushing their digital coins, if those digital coins will help the crypto market by helping the investors to invest in the market without much hassle then people will be using them, if not i highly doubt anyone will be using unless the government spend a lot of funds promoting the coin with offers.

I already read the information that the US government announced the possibility of creating its own stable coin, which will actually be a digital dollar. In the United States, they finally realized that this market segment could soon be busy and they could stay on the sidelines of world technological progress. Even in India they already want to create their national stable coin, and it was the Reserve Bank of India, which is the main opponent of a decentralized cryptocurrency, that came up with this initiative.
The number of stable coins is growing and now it is the world states that begin to issue their national stable coins. This is a contradictory tendency for a decentralized cryptocurrency, however, I think that this will not be worse.

It is funny and ironic at the same time because i think they really want the majority of the people to support them. It's not bad to support our own government as long as there is no violation in our own security and privacy. But the fact that they want to know everything from you is kind of irritating stalking skills. Bitcoin is still the best choice if you want to have your own bank.

What about to think a little bit more about cashless society? It has it's pros and cons. Government will take full control of your money, is it that good? You won't be able to save some money privately, government and bank institutes will know it. I think creating digital currencies by government has another meaning too, after creating that they will try to have monopoly on it and may ask us: no more bitcoin or altcoin. Idk, maybe I think wrongly but at the moment that's my idea about this subject.
Btw USA isn't that bad regarding to cryptocurrencies, for example they accepted taxes to be paid by bitcoin in Ohio state which is in "beta" mode.
In overall it will be different what they say and what they'll do. China was starting to hate bitcoin but changed their mind, India banned bitcoin and they may change their mind too as it seems.

I know right? Most governments want to deploy their own digital currencies just to obtain a greater degree of surveillance over people's transactions. Of course, Blockchain technology brings many other benefits to them that are hard to ignore. The mere fact that transactions are blazing fast and cheaper in a Blockchain than in traditional systems of today, encourages worldwide governments to quickly adopt a digital currency of their own.

The main trigger of government-issued digital currencies has been the announcement of Facebook's Libra cryptocurrency. We've seen a deeper level of interest among the world's renowned countries because of this. China has already made a statement of Blockchain technology, Russia did some time ago, while German banks have already asked the European Union to develop a digital version of the Euro. Now it's up to the US, to announce it's own digital version of the dollar (USD). So far, the US has been quite strict when it comes to crypto and Blockchain technology. With many fierce regulations, most crypto companies and startups have left the country. Even the President of the US, has spoken negatively about cryptocurrencies in general. With these actions of the US, it looks very unlikely that it'll adopt its own digital version of the dollar soon (unless there's pressure from other countries that have adopted digital currencies of their own).

Nonetheless, time will tell us whenever the US will stay ahead of the game or not. With increased interest from other countries into launching digital currencies of their own, time may be running out for the US to adopt Blockchain technology for its own benefit. Just my opinion :)

Each government on different country have there own way by having share on the crypto currency world but somehow it makes us so frustrating as they want a share even a single move that we make in crypto currency community. My point is that they will even do something just to have a share like by providing taxes. Well, we have nothing to do about that as long as they will never stop us by being part here in digital world.

Let us just face the truth of the governments, n matter what country it belongs to. All of these authorities want to keep the public and masses their slaves by holding economy in their hands. They are thieves with logic that is you cannot even call them thieves. For instance, taxation is a way to accumulate money with logical reasons while this system has never benefited people in any way. Digital currencies like bitcoin are the escape from this trap.

I will explain from the perspective of the government why the government launched its own coin stables.

Back to the nature of a country, that the state has an obligation to protect its citizens. Ensuring fairness and security in transactions in a country. No citizen except the state can monopolize the financial system. Imagine if the financial system was held by individuals, the nature of the state was questioned.

So it is clear that this protection and security factor is the goal and necessity of a country to guarantee it. Each citizen has their rights and it is important to remember that every right in one individual is related to the rights of other individuals and the state is obliged to protect it.

For example in the case of taxation, Imagine if there are taxpayers involved in taxation crimes or tax evasion, then the Directorate General of Taxes institutions will have difficulty freezing the relevant assets because the state authority does not have the authority.

The stable coin was made by the government as a form of the government's careful response to the cryptocurrency trend. The adoption of full bitcoin carries more threats than profits according to the government. On the other hand blockchain technology promises transparency and various benefits. So that the win-win solution taken by the government is launching a stable coin.

The US government will soon create its own stable dollar-based coin. This has already begun to be discussed in the government. The prospect of the emergence of a global private stable coin Libra really pushed the world states to create their own national stable coins. Therefore, the appearance of such coins is natural. It seems that they will create serious competition for a decentralized cryptocurrency as a means of payment.

This makes more sense rather than trusting other companies or projects that offer stable coin or digital dollar because when a government backed something then there is an assurance that everything is under control and we have nothing to worry about because government can track everything so there is no way for scammers to fool the users of government backed digital dollar.

One thing to note is; money issued isn't by the government but central bank.
Although some are nationalized, many central banks are not government agencies, and so are often touted as being politically independent.
The critical feature of a central bank—distinguishing it from other banks—is its legal monopoly status, which gives it the privilege to issue bank notes and cash.
It's not an easy task to understand how all of it works which connected one and other things in the past after the world war, but basically the central bank is one of the kings in monetary policy which has proven detrimental to the economy due to high-interest rates and inflation. If they want to create digital fiat currency, probably hackers would be the biggest problem.

source (https://www.investopedia.com/terms/c/centralbank.asp)

If the government are planning to release a central coin then they will make sure to test everything and security will be main thing they will take care before release them and hence i will not worry about the security of the coin as it will insured as well even if something happens in the worst case scenario. Do we really need a government backed digital dollar is the main question, to be frank we do not need that as we already have fiat currency that is digital but the real question is are they planning to create a crypto based digital dollar :-* , i am not expecting that anytime soon.

Many country depend their economic financial with United state and they have backed USD and dislike with other payment although giving much benefit like bitcoin become digital payment currencies, more than twenty years USD have been currency payment for buying and selling imported products using USD, other side with country have get loan from world bank have use USD as their payment transaction.

If they trust the Fed, it will not be difficult for them to only build relations with usdc through the MoU.

by providing the same immunity, their systems will form triangles that can complement each other. America is not like other countries which have to formulate from the beginning, they can take over a consortium of private parties under their jurisdiction without complicated process.

Most countries in the world use international money in USD. perhaps this is the main reason why Americans do not accept crypto and want to survive on real USD currencies. because USD control will weaken if it moves to crypto, world trade control will become free and America can no longer rule with its dollar. while other countries want to leave international currencies. America still maintains it. so it would be bad if America did not immediately accept crypto technology. I strongly support if each country has its own crypto currency.

I don't support that each country will have its own cryptocurrency. Cryptocurrency in that case will become cheap and will not reflect or represent the real idea behind cryptocurrency. If every country will create their own cryptocurrency, the idea of a global currency disappears. The idea of a free currency that is beyond the control, manipulation, valuation, and ownership of a single country will die. The idea that cryptocurrency is open and free for all, not owned in any way, will end.

Quite the contrary if each country have their own cryptocurrency that will further prove the idea that cryptocurrency could widely used and created by individuals and even government only if they want to really implement it. Crypto won't become cheap just because many country are creating their own. The opposite, it will bring a lot more adoption and therefore increase the legitimacy of cryptocurrency that could potentially drive its value and capitalization skyrocket.

I myself can not wait for big countries like Russia, the United States, China has its own cryptocurrency, 2020 we will see the development of the world of crypto currencies will be directed to China and Russia, if the United States is serious about making USD crypto currencies, I think USDT, USDC, and some other stable coins will have a real threat

Well, it's no secret that the US has been quite skeptical about crypto and Blockchain technology. Their strictness in the space, shows us that the world's most powerful country is reluctant in accepting crypto as Fiat's successor. According to Cointelegraph (link to article here (https://cointelegraph.com/news/steven-mnuchin-does-not-expect-us-to-issue-digital-dollar-in-next-5-years)), the Secretary of the Treasury of the United States (Steven Mnuchin) said that "he and Federal Reserve Chairman Jerome Powell do not anticipate the development of a national digital currency in the country". This demonstrates us that the United States doesn't see the possibility of launching its own digital currency within the future. If other countries manage to launch their digital currencies first, then US' supremacy might come to an end. It's a matter of which countries adopt the latest technologies first in order to stay in power and ahead of the game.

I'm afraid that US might be left behind other countries in the future, as they adopt Blockchain technology for their own benefit. The tech not only proves to be useful for finance, but other areas of the mainstream world such as healthcare, voting, transportation, real estate, and more. There will be a complete transformation of the world's industries via the adoption of Blockchain technology. Once other countries adopt Blockchain in every way, the US will be left behind as the "obsolete" country of the world.

Nonetheless, it's surprising to see how Facebook's Libra cryptocurrency has triggered a massive interest into worldwide countries in launching their own digital currency solutions. I'd bet that if it wasn't by Facebook's announcement of a stablecoin for the world, most governments wouldn't have cared about launching their own digital currencies at all. It shows that governments are afraid of Libra and don't want to lose power over their citizens. We'll see how everything unfolds in the future as slowly but surely people start using digital currencies for their own benefit. Just my thoughts ;D

Really? Let us try to take a careful look at the cryptocurrency world right at this moment. Let us not speculate on what is to come because that is beyond certainty. We cannot be sure if the future is really the one that we think of. Let us look at today. People, companies, institutions, etc are now creating their own cryptocurrencies. We have several thousands of them today. Now, do you consider it a successful condition? It somehow cheapened the quality of cryptocurrencies. It has proven that the creation of crypto is handy. It has proven also that there is possible money in it. But has it really proven that it greatly promotes adoption? No. It has even eroded the trust of so many people. It has even earned the ire of so many true crypto supporters. We are full of cryptocurrencies right now. Most of them are shitcoins already. Does the whole market cap grow because of them or their sheer number? Again, no.

I think the US has all the scenarios studied, and I think there may be a great and stealthy agreement with Mark and Libra from Facebook, the fact that they postpone their launch of the digital dollar for 5 years, is a clear and intelligent move, as it is known that Libra will have more acceptance worldwide than the cryptocurrency launched by a Country or a Bank, the fact of being a social network, people have more appreciation for it.

Now the US said that Libra can launch its stablecoin if it complies with all financial laws and Mark had previously stated that it will seek to increase the US economy through Libra, in a nutshell the US is very lucky, otherwise CHINA has it that its main concern is Libra. For more information on the digital dollar here: Steven Mnuchin Does Not Expect US to Issue Digital Dollar in Next 5 Years, cointelegraph (https://cointelegraph.com/news/steven-mnuchin-does-not-expect-us-to-issue-digital-dollar-in-next-5-years)

United State always want to backed their cash money USD become most popular payment transaction use around the world, how ever with new digital payment like bitcoin will stop there to keep competitor US become on the top list payment transaction, until today United State government not give allowed for Libra coin become legal in their country because afraid with their people move from USD to Libra.

Even with their clear intents to restrict cryptocurrency usage, I highly doubt that they would not make their own digital fiat. They might even be starting doing R&D and might be close to announcing it without us knowing. A great superpower wouldn't let all these advancements just slip up their hands, they would be surely catching up with other countries. It's either intentional delay, or it's just that the current administration running the government doesn't want digital currencies maybe because of political reasons, personal, or even be their pride to hold what their first stand against such currencies.

Simply they will going to be left behind if they will allow that to happen something like we never expect that US will be that to strict with the regulations about crypto but sooner or later they might accept it or not they will have no other choice when futures comes in the market like in china as pf many people there are already using e payments systems more than their cash or fiat.

There is nothing simple about America. America was the country that won the second world war and as a barometer of the world economy when the dollar was made a global currency.

America is a country that has a wait and see attitude towards cryptocurrency. Although many countries have adopted and legalized bitcoin, the United States has a skeptical view of bitcoin. Today the world sees America as anti-cryptocurrency because of the view of Trump as the country's leader who is a barometer of the world economy.

If we investigate further, the IMF which is identical as a tool of American interference in other countries with its debt instruments has signaled approval that the central bank should issue fiat-based digital currencies.

https://www.imf.org/en/News/Articles/2018/11/13/sp111418-winds-of-change-the-case-for-new-digital-currency

Blockchain technology can provide a serious impetus for the transition to a new lifestyle. A society without cash is no longer a Utopian dream and because each country faces unique circumstances surrounding the use of cash and the adoption of e-money. Cryptocurrency can offer a real alternative to other forms of payment, but it is not wise for central banks to offer fully anonymous digital currencies because they will potentially create a safe space for criminals. Digital currencies supported by central banks can help promote financial inclusion, security and privacy in payment systems as a cheaper and more efficient alternative to cash. USD-based stable coins are the safest way to follow the flow of digital economic and financial technology without threatening the interests of the United States.

I don't see a single reason for any country NOT to develop its own digital currency (whether it is crypto or not).
Because this way govs can profit from: a) taxes b)miners
Both of it leads to govs's profit

The USA has too many different interests, which prevents them from focusing on only one technical area. The digital coin from the government doesn’t seem like an ideal idea to me either. China will prove to be excellent in this area, but still it will not be the freedom of action that is expected from blockchain systems.

Sooner or later, but the United States will digitize its assets. Even the head of Bitcoin says that the tokenization of society is inevitable. Therefore, I am glad that already now there are projects like taklimakan where you can study cryptocurrencies directly from specialists who are involved in trade and investment. After all, the sooner the preparation of society for understanding the fundamentals of the digital industry begins, the faster the number of specialists willing to work in the industry will grow.

Now the USA can drag out the process according to the rules of cryptography regulation, but this is being done consciously. Society is gradually ripening, as the theme of the day is being formed that digital currencies will be in demand everywhere. In my opinion, everything is going as it should, step by step to work out the legislative framework in order to allow the blockchain industry to effectively develop and prevent fraud

What if they are working on that but have decided to keep it as a secret? You never know.
So with all these creating their own cryptocurrencies, does that mean stable coins are taking over now? What about volatile coins like Bitcoin and Ethereum, what will then happen to them when the time comes? Every country are planning on creating a digital version of their own currency and these digital currencies are mainly going to gain mainstream adoption, which will make them surpass the first cryptocurrencies we have now.

There are lots of people right now that are not interested in crypto, but when these comes, they will all start to be interested. I guess Bitcoin will just be seen as a digital gold and nothing else.

Every government on each country has it's own rules and regulations in which need to follow it in order to avoid conflicts. As the crypto currency become more demand throughout the world many users want to us it by transferring it from one place to another. Just like that your country legalize crypto currency and by travelling to other country you can't access due to it's not authorized. What I mean to say each of us must aware the different place as we want it as I'm still hoping that those country didn't legalize crypto currency will be legalize soon.

There's a reason why they can't just adopt sudden changes like digital currency. I'm not sure and this is just my personal opinion but since USD is the world's reserved currency, and usd is involved in a lot of foreign exchange, I think if they adopt digital currency, not all countries can adopt it as well due to lack of technological capabilities and advancement.
Or maybe the government doesn't find it as that essential for now but maybe in the future they might adopt too.

USD have been world currency payment with many countries use USD as payment for export and import transactions and many loan making by government in one country always use USD as currency payment value when receive loan and give payment later, for country borrow when USD have higher price and pay after USD in lower price look profitable.

speaking about the greatness of US dollar is not a matter and for the cryptocurrency field we doesn't need that also. Whenever you wish to to invest on cryptocurrency you just need to forget about this table Fiat currencies because this all all their currencies are backed by federal and reserve banks.
banks are not at all helpful for the people in this world the only trying to scratch the uses who want to use it.

Banks are not trying to helpful, but useful (not always I agree)
If digital dollar would be backed by banks + it could be mined = boom
This combination can make Usd go straight up

A state-funded Blockchain money? Is that really necessary? What is the purpose of the bitcoin market anyway? To provide an alternative to the cumbersome structures of states. Bitcoin or a different project, I think states will not officially enter this business.

Germany, Russia, China and Japan have entered this business, have you not read the news ?, China will launch a crypto currency next year, this indicates that the crypto currency is really favored by large countries, but America still hates it

It's still not released yet though and just seems an experimental project to test out the effectiveness of cryptocurrency. however if it happen to succeed and bring benefit to the country other countries will surely follow considering how big china influence to its neighbouring country and crypto is already in many countries' concern

Many transaction for import and export using USD as payment currency with many countries, when USD have been most popular payment using look hard for bitcoin become legal currency, always have way how to make many countries want to accept bitcoin as currency payment for every import and export transaction because can give benefit both seller and buyer.

I am very confident that the United States will make a digital dollar or a their own cryptocurrency in the future. It aims to compete with countries that have already made their own Crypto, especially competing with China. So for those of you citizens of the United States you will get a "Digital Dollar" soon from now.

what about usdt/tether ? the coins sounds like a dollar but i dont know if it built by u.s citezens or simply came from the country of america or not  .

if not i guess they will create thier own crypto based currency just like what other country did because that is the new trend thats happening thesedays and one of the country i remember do that is china  but i dont know they made that for  competition but they made that possible in order to transform the way people transact  .

Many of the world's most powerful countries have already started to work on digital currencies of their own. The only one that will be left behind is the USA if it continues to be skeptical about crypto and Blockchain technology. When that happens, expect China to take over the world as it'll dominate our economy as we know it. Once the US realizes that China is too powerful, it'll could decide to launch its digital version of the USD. But then, it'll be too late.

Of course, no one knows what will happen in the future. Maybe the US will decide to launch its own digital currency once it sees other countries doing the same. After all, the US wants to retain its supremacy within the mainstream world. It's a good idea to transition the United States Dollar into the digital realm, as it's the world's reserve currency. Blockchain technology brings a lot of benefits that are hard to ignore. Efficiency and low costs are one of the reasons why many governments have considered creating digital currencies of their own. Ever since Facebook has announced its Libra stablecoin, most governments have committed themselves to launch digital versions of Fiat in the least time possible. This is mostly because they're afraid that crypto will take over the world's economy in the future.

Nonetheless, a government-backed digital dollar may not be far from becoming a reality. People need to show interest in it though, for the United States to start replacing physical cash (USD). Older generations may find it hard to use digital currencies, but newer ones will quickly adapt to the trend. In the end, the process of transitioning from physical Fiat into digital will be a slow and steady one. Just my thoughts ;D

Maybe they won't make a "government backed" version of it but maybe they will do a wall street backed version of it which would basically be the same thing. I mean the important part is to have a currency that is valuable and spendable everywhere and pegged to usa and trusted that it will never fail right?

Wall street is exactly that, those dudes literally made money out of thin air in the past 30-40 decades and whenever they failed government saved them so if a currency is backed by wall street it is indirectly backed by the government as well for the reason wall street can't be failed. If that happens we could see something quite strong in the crypto world, we have something very tiny for that for example, USDC which is backed by circle which is owned by some wall street company I forgot.

How can a government-supported Cryptocurrency benefit us? Because we are looking for a decentralized structure. So I think so. The existing structures of the states are very cumbersome. Government institutions are too big to solve some problems. A more democratic structure is needed. A new order with a volunteer community. I don't think states are going to get into this.

Let me tell you a story. Or rather an adventure.

The World Trade system used to be based on the States. Now we have Large companies. There are even individuals who do business across the sea. In this case, the monetary systems of the states can be destroyed. Behind it might be a Blockchain-based currency with a State-size power. However, companies like Facebook can do this. Not the state but as strong as the state!

A state-backed crypto coin doesn't make sense to me. Why would they need something like that? They're already printing money in central banks. Also what such a currency will add to the states. I think crypto coins will be more interested in private companies. They will be involved in developing a system of their own. They even entered. Libra, for example.

I dont know why people want digital fiat currencies so much. Is it really change anything? Maybe only swift payments

yes many countries are competing to make their own currencies, can be seen from China and may be followed to other countries if it is smooth, but yes the difference will be clear, because the average coins made by each country take the basic of stablecoin namely coins that are based on fiat currency itself such as USD, YUAN, KRW, and others depending on the country.
so bitcoin and other alts will still be there because the value is volatile.

I have already heard that the US government intends to issue its stable coin. In general, already about 70 percent of all states intend to issue their stable coins. Therefore, we can say that indeed, people can use stable coins of different states more than decentralized cryptocurrency. It is quite possible that the era of stable coins will soon come, which in any case will be used together with the national money of states.

Yes, this was supposed to happen and the fact that Libra will soon enter the crypto market and then deploy its scales.

That could be another possibility of launching a legitimate digital version of the US Dollar. While the US government is quite skeptical about crypto and Blockchain technology, it could change its stance in the future as it sees other countries launching their own digital Fiat currencies. China has already announced that it will be doing this, so I'd bet the United States will work on its own digital currency for the world to stay in power. Otherwise, it'll be left behind as China becomes the most largest economy in the world. I believe that a digital version of the US Dollar would live in a privately-owned Blockchain, than a public one since this way the government would be able to do as it sees fit. Maybe they'll end up adopting Ripple's XRP Ledger for this purpose, or they will allow Facebook's Libra to become the next digital dollar for the world.

Nonetheless, with the emergence of stablecoins and Facebook's announcement of Libra, the US government will have no choice but to join the Blockchain industry in its entirety. It could take a couple of years from now before we'll be able to experience a digital version of the US Dollar, but we'll get there sooner or later. What matters is that Bitcoin will be a part of our daily lives either directly or indirectly. After all, Blockchain technology is a real game changer when it comes to mainstream finance. Just my thoughts ;D

If the United States creates its own national cryptocurrency, then it may not be able to be a stable coin, unless of course it is supported by the dollar.  At least in the cryptocurrency market, there is already Tether, where USDT practical is the digital equivalent of the dollar.  In addition, if we take into account the G8 cryptocurrency report, it was about stable cryptocurrencies that were positive statements that do not pose a threat to people and the state’s economy.

This is a fairly sensitive topic.  Facebook failed to negotiate with the US government about creating its own currency, Libra.  On the other side of the globe, China is working hard to create the yuan based on Blockchain technology.  I am waiting to see if the Chinese economy will be like if they put CNY into operation.  If successful, the US government must change its mind to catch up with China.  I have witnessed the transition from cash to non-cash from applications like Alipay, Wechat ... of their country.  Currently, China's neighbors are learning that.

Yes, government made money will still suffer from inflation and other long-term issues even if it lives on a blockchain. If you want your wealth to have credibility, please use the types (BTC) without endless expansion of supply.

I have always been convinced that the government in many states does not want to use cryptocurrency as a means of payment, because they can lose control of the financial sector of their state.  Each government, in order to avoid any problems and solve the tasks at the expense of the financial well-being of its citizens, creates inflation and prints new banknotes of the national currency.  How they will deal with digital currency is unknown.  Perhaps the national cryptocurrency will also be subject to similar fraud and manipulation by the government.

I think the US will be one of the first to launch its own national digital dollar. After all, this country is known for its high-tech developments. So launching a national digital payment system will not be difficult for the US. The difficulty is only in some disagreements between politicians, but they are likely to come to a consensus.

I was surprised to see a country as big as America that is too strict with cryptocurrency, whereas usually America is a country
leading the way when it comes to technological advances. But about cryptocurrency they behave differently, even launch
Libra is still complicated. They don't learn from China, which have started making their own cryptocurrency, if this is the way
in the future, the possibility that America will be left behind by China could really become a reality.

Despite the democratic structure of American society, economic and financial corruption and corruption have flourished in government.  The difference between the USA and China is that any manipulation of an official in China is punishable by law and very often the death penalty is imposed on such officials.  The Chinese government leads the country in a completely different way and they always fight against various manifestations of inflation so that their national currency is appreciated.  If there is a national cryptocurrency, then its purpose will by no means be at odds with the views and actions of the Chinese government, unlike the US government, which see bitcoin as a threat to itself.

You have to understand the difference here, it is a new financial market and that too not restricted to a certain region or a country and it is not that easy to come up with a regulation that is global and it is not a huge surprise that the authorities are taking time to regulate. The launch of Libra will have major implications in the market because if they have the permission then expect all the multi national companies coming up with the same concept and it will affect the fiat market and hence they have to take everything under consideration to regulate something.

I think that the US is waiting for other mainstream countries to adopt their own digital currencies before launching the "Digital Dollar". If China takes the lead by launching its own "digital yuan" before the US starts developing the "digital dollar", then things will become fierce in the mainstream world. The US would not allow other countries to take the lead in economic superiority, leading them to adopt Blockchain technology in its entirety.

Now, the real question is when will the US become friendly towards crypto and Blockchain tech in general? As long as it imposes strict regulations against the industry, I don't see it going anywhere. Other countries like the UK, Malta, and even Japan have been extremely friendly towards crypto as they know it's the future of money. They're not as stringent as the US is, where it believes that crypto is only used for money laundering and tax evasion. If the US had an "open mind" it would realize that there's more to crypto than meets the eye. When put to good use, crypto and Blockchain technology can improve our economy like never before.

But be aware though, that if the US doesn't react quickly, the USD might lose its status as the reserve currency of the world. Only then, US' supremacy will come to an end, leaving China (or any other country) as the largest economy of the world. I hope that I'm wrong and that someday will be able to see an official announcement of the US government related to the wide-spread use of its "digital dollar" worldwide. Just my opinion :)