Bitcoin Forum

Currently, in this day and age, all governments around the world have adopted fiat currencies as a means for its citizens to trade with one another and to trade with other nations around the world. However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?
   
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
   
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?

maybe 100 years from now it will be possible to do so, but it is impossible today because there are many governments that invoke the sovereignty of their governments to refuse many things when those same people of governments who invoke sovereignty issues like to accumulate their wealth in US dollars and buy homes and other properties in rich countries like the US

I believe that the government will consider this kind of move, I really hope too. But even tho I'm a believer of bitcoin replacing fiat there is still a slight doubt in my mind about it, if it will really happen or if it will really benefit cryptocurrency. Fiat and cryptocurrency shall work side by side and help each other not to replace each other.

I really don't see why governments/nations would need cryptocurrencies if most of the important features of Blockchain will be discarded. They will most likely discard, immutablity, transparency, decentralization, anonymity, permissionless, trustlessness etc. These important features are what make cryptocurrency, cryptocurrency.

They probably should just use digital fiat unless they want a shared/single Blockchain for fiat-like tokens

I don't know if it will be ideal, but we all know how the government function, they do not want transparency, with blockchain you can trace government spending, so many factors are new when a government decide to do that replace their fiat or local currency to cryptocurrency, but one important factor, the country that will do that should have all their places with a good internet connection and all their people knows how to transact with Cryptocurrency, there's a lot of factors to deal with it, but who knows this could happen in the future.

I think it would take a huge initiative for governments around the world to decide and choose cryptocurrencies as some form of alternative fiat backup or something. As of right now, the Banks probably won't allow it, but in the future who really knows? Maybe if the initiative was taken to and presented in front of the United Nations council, they could help with the mass adoptions from governments, but it seems like an unlikely scenario for now.

They wont allow cryptocurrency to replace fiat money, it will not happen maybe in the next chapter of Earth, cryptocurrency will be a big thing. Fiat money is still ok, you can also use that to transact online but of course its limited compare to cryptocurrency. I want crypto to succeed but as of the moment, we still need to use fiat money and be patience with the smell of your money.

In order for the government to replace the fiat currency, the technology needs to be accepted by the people and they have awareness in it. You must first have internet and internet service providers disappear and make it free for everyone. Everyone also needs to have their own smart phones, PCs. And the state also needs to be equal in everyone's life, no rich, No poor.

That way I see that crypto can accept and replace fiat currency.

maybe in the future we will all not find fiat currency because the government will replace it with a centralized crypto ,although it may take a long time but it will definitely happen because of the development of more sophisticated times

I could see three scenarios as of now:

(1) Governments would use existing cryptocurrencies, but would impose tax on them, either through exchange or imposing rules on owning cryptocurrency wallets (regulation and KYC).

(2) A much more possible scenario, governments would make and use their own cryptocurrency, and (possibly) ban usage of other cryptocurrencies not made by political government.

(3) Governments would ban usage of any cryptocurrencies and would not adopt such technology (highly unlikely).

Replacing fiat currencies that too by the government itself is not gonna happen anytime soon. There are few countries which encourage digital growth and as a part they keep themselves up to date with the growing technology. Majority of the countries wish for digital growth, but they want everything to happen under their hawk eyes. This isn't possible everytime which makes the adoption of cryptocurrencies in real life a hard task.

Another thing fiat currencies were full of flaws, but the same never serves to be a big disaster to the common men. When we combine the economy as a whole the flaws of fiat currencies gets reflected.

I hope this time if the governments will consider having own cryptocurrencies they will make it a immutable that its going to be fix supply.  If they will create about 100Gazillions of it, its just going to be 100gazillions forever which is visible to blockchain. Because if they can still add more like they can print, then the world's financial market can still crash.

This is not yet possible, but in the future when globalization moves to a new level it will be possible.

First of all why would government will do so? Are governments not comfortable with fiat currency? Governments are 100% comfortable with fiat currencies that allow them to have firm control on financial system of the country, with fiat it wont be possible.

Gov will do if there is a huge demand for cryptocurrency among the citizens. They are comfortable with the fiat so I don't think that they will try to replace it because of replacing fiat by crypto can bring chaos in the Gov controlled economy. But in case of huge demand of crypto, Gov may try to dominate other coins by adopting a stable coin regulated by the reserve bank.

Well, some have already considered that move. Yes, national cryptocurrencies are not decentralized or anonymous, so they can be less attractive for crypto enthusiasts. However, there are some problems they could solve for the state once and for all. For instance, there cannot be any counterfeit money, and it's a big problem with cash. Then, cash has to be produced regularly, since such fragile material things spoil fast. Finally, it could save a lot on international fees and big transfers. Considering all of that, I think that more countries will at least think about it and perhaps even implement it.

Yes, but most governments are likely to create their own digital currency and back them with fiat currency. Let's forget the idea of them adopting the use of bitcoin and other popular cryptocurrencies. These governments always want to control everything  and the last thing that would ever cross their minds to give people is financial freedom and transparency. Some countries have started making talks about adopting the use of digital countries.

I am not sure this will happen some day in that variant like people may imagine nowadays. Fiat of course may be replaced some day, but not fully. Too many factors will not allow this to do. Of course the fiat money with lots of problems, but crypto assets nowadays are with not the less problems at all. And of course may be some day the whole planet will change all money for some digital assets, but it should be the really working without any bug system in order to give people opportunities to use them. And all the systems in the world should work on some algorythms where no other money is accepted. To my mind it is really hard to implement in real life...

Fiat currency simply means the currency issued and managed by government, and since we already have centralized cryptocurrencies like Ripple, which are managed by company, there's nothing that stops a government from issuing a cryptocurrency. However, it doesn't fix any of the flaws of fiat currency, and they all are caused by centralization. A government-issued cryptocurrency would inherit the flaws of fiat, like inflation and being tied to countries economy, and the flaws of crypto - poor scalability and user experience. This is why it's not a great idea to create government coins.

it might be possible but cryptocurrency is used as a global currency. but with the criteria of a fast transaction and also a stable price, because if you use crypto, the price is not stable, people will think twice about using it and surely if this happens there will be a lot of adjustments to the transaction

IMO.. 100 years from now is too long,  I predict that governments from various countries will adopt cryptocurrencies in the next 35-50 years.  the governments in various countries will not replace fiat currencies, they will make fiat currencies and cryptocurrencies in circulation together.

Point 2 is very possible, because the centralized function is about controlling economic activities in binding rules. In this way they will require their own pair of coins to be traded against others, and of course will tighten the regulation of all tradable coins (selection)

The government seems to be sensitive to the changing era. and must prepare alternatives. it is not possible for them to change fiat, but must also make alternative drafts in reserve.

Right now, I don't think the government would do that. Crypto has its limitations and its disadvantages. Fiat also have it but since we've been using fiat for a long time we're used to it already... The government won't adopt crypto since they have their own currency— unless they're going to create their own crypto. Still, they have to consider people's capability of adjusting to that kind of innovation.

The government adopting cryptocurrencies as a mainstream currency to replace fiat is not really attainable at the moment. Cryptocurrencies with all the glitz and glamour it carries still doesn't fit in properly for some day-to-day operations. It also requires some level of technicalities that not every folk is familiar with.

What can we say about governments using fiat currencies? it's the basic valuable medium for purchasing goods, services and paying taxes. So, telling that fiat has been 'adopted' all over the world is absurd.

Who knows what's the mind of the powerful countries? they will get into it first and we will see if they will create another one or just go with bitcoin as one world currency.

I think that instead of replacing fiat the cryptocurrency created by the government will instead act as secondary currency or more like digitalizing the fiat. The government will not just letting some people have no access to paper money because it's still quite important and even in the future I can tell that it will still be important and therefore removing it will instead make another problem and it's wisest to just create crypto while still using fiat aswell because creating crypto didnt take that much resource.

It would not, i suggest you take a look at what happened with libra or crypto and china. Just try to bring a simple logic here, when there was a big world-class company like facebook wanna issue its crypto called libra. So many regulators have banned it, and that can be proof if crypto is not easy to be accepted by the regulators. I don't think we must expect the adoption caused by without the regulation and that will never happen. Maybe crypto can be adopted by some people without care about the law but in specific countries that were having huge potentials like US and regulation is at the top of everything.

Not sure about what problem had by fiat currency.

Many of us think straight ahead of the future and I do believe that cashless transactions in everyday lives of the human society is possible. But before this could ever happen, the public must be first well educated about cryptocurrencies before the government could implement it. That's why many of us think that the future is the answer. But we will never reach it if we don't play our part of informing and teaching others about cryptocurrencies.

When talking about the future of currencies, it is rather difficult because we are talking about the scope of the country, which has regulations. In these regulations, there must be pros and cons.
In my opinion, all eyes are heading to countries that are implementing blockchain to make cryptocurrency like China with its DCEP. From here other countries are taking lessons first, if China succeeds in increasing the welfare of its country through DCEP, we can be sure there will be a massive movement from each country to digitize their own currencies as well.

no, fiat is the symbol of every country and they will not replace it. if possible, the government will only adopt fiat to become digital, just like crypto.

I thought maybe cryptocurrency would replace fiat currency and become a global currency. because at this time if we see more and more countries are adopting blockchain and also more and more companies are accepting bitcoin crypto as a means of payment. if crypto development is getting better then maybe countries in the world will be willing to accept crypto and make cryptocurrency as a legitimate international payment instrument.

So far no country has attempted to do that or has done an experiment because the risk is high, a country that will do that should have 100% of its people educated on how to transact in Cryptocurrency, a country that will do that should have modern facility and have internet connection on all its areas, even the remote one.

Due to increasing competition from cryptocurrencies and stablecoins many central banks are either developing their own digital currency or evaluating the potential of issuing one so you can be sure there'll be lots to look forward to as these technologies develop and begin to be used in everyday life

We still don't know, but it is possible. It should be expected since we can see the progress and development of crypto. It will not happen over a decade or two, maybe after century that had passed when the digital technology is really high tech in our world. Adoption of crypto may come to us for now, and replacement for the future.

I think the idea of replacing fiat money by crypto is not good idea. All we know that crypto have not consistent value so I think it will be complicated if government let crypto replaced fiat money. I think it is better to make crypto as additional currency together with fiat to make our payment system more easy and not complicated.

I think as long cryptocurrency almost same with digital fiat, will be small chance for it to replace fiat. Although cryptocurrency can send all over the world, maybe to replace fiat must look perfect crypto, fast transaction, cheap transfer fees, and regulation. Maybe for regulation, government will keep use their currency and wouldn't let crypto to interfere.

We really still needing the fiat currencies because let's face the fact that not all of us are keeping up with technology and some people don't have devices that they can use to manage their cryptos but of course the possibilities are endless, we could have something in the future that enables us all to access cryptocurrencies but as of now not everyone can access cryptocurrencies so we still need physical money.

Most likely they won't replace fiat currency with cryptocurrencies. Of course, there is a possibility that more country will try the adoption of blockchain, cryptocurrencies whatsoever.

But to fully replace fiat money with them, I don't think that's a really good idea. Sure, we're living in a digital era right now. It might be possible in the future. But their own fiat currency is like their country's indentity.

Not to mention, if it really does, we don't know how long it'd take until every of their citizens educated enough with how to use them and all. And let's not forget even in biggest countries it's always has places that only has little knowledge about how advanced technology nowadays.

That’s what I thought too since fiat still has its own uses and conveniences that cryptocurrency may not provide and it also goes the other way around. With that amount of time from our time, I see that the cryptomarket would have a massive volume which would mean that price spikes would not happen much due to low volatility which is quiet good in the aspect of mass adoption throughout the world and also that doesn’t mean that traders would not still make a reasonable profit but rather it is now much safer and healthy.

But that's impossible to create I guess. Perfect crypto? One thing I like it is the transparency, the most I concerned about is its security. Being able to hack is unavoidable for some users who keeps or not following rules to be safe. Imagine when it becomes a replacement for fiat? You can lost in an instance youre money. Well, perfect crypto still probably got 0.01% of vulnerability which bad guys would exploit.

The government loves control and fiat gives them that power to do so, blockchain and cryptocurrencies are hardly controlled thus the term decentralization. Because of this control, removing fiat and holding on to crypto might be a difficult thing to do, even if they should, it will be a centralized cryptocurrency that will still give them power to do whatever they want. Who knows, in years to come it might be a reality but for now, I don't think it's possible.

It is already a reality, the centralized cryptocurrency. What do you think all those stablecoins are? despite being a little bit decentralized because some of stablecoin relies on the already existing blockchain from smart contract platform like Ethereum their value heavily depends on the company behind it and the company can do whatever they want with the coin even printing them as much as they can. I'm sure that some of government out there have in touch with centralized blockchain or you can just take over all the nodes existed and it will automatically be yours.

In my opinion, it is rather impossible for the government to adopt cryptocurrency to replace fiat. Because there is no compelling reason
to make it the government must take that step. Moreover that cryptocurrency is decentralized, uncontrollable, volatile and also transparent.
Make the government more afraid to adopt cryptocurrency, but since no one can guess the future. The possibility of the government changing
its mind is still there, even though the possibility is small. I think it's more ideal if cryptocurrency does not replace fiat, but cryptocurrency
goes side by side with fiat.

In this case, there are two different point which we should know:

[1] Making one currency to this world

[2] Making one cryptocurrency as a world currency

Both are different, that's why we should know it.
i think the option [1] looks so good. but it has many disadvantage too, of course it will affect to world economic.
and the option [2], it is still far, we cant afford that in short term. crypto is still young, hasnt been mature.

I doubt if the government can at any time soon accept cryptocurrency as a legal tender until the transaction is traceable. What they can only adopt at the moment is the utility and security aspect of the blockchain technology.

We can see this as the development of the payment system. Cryptocurrency is the updated fiat money. With the current situation, the majority may think that the volatile price cannot replace paper money. But this volatility exists in the current market, as the market gains value, this problem will be solved. Also look at the advantages: certain supply, small transaction fee, no need for the third party. I think the best one should win this competition.

Even if the government should adopt crypto it will be a centralized one where they will be able to monitor, control and have access to all users. Fiat is easy to be manipulated and used for many things which most people in the government likes. Also, a blockchain system is known for many advantages, I for once think this is the angle the government will be channelled to, that is, using the underlying technology in various systems and industries but for the coin itself might not be possible.

I believe that the government will possibly adopt it but they will never replace fiat because they can't manipulate cryptocurrency. It could possibly happen especially if the government situation is shakey. They will still consider lots of things so it will surely take a long time. We all know that crypto is multifunctional and I'm sure that it will also be an advantage if a certain country will have it as a currency.

I think both cryptocurrency and existing fiat money can be use in any form on every country if it was permitted by the government itself. cryptocurrency was using blockchain, and why the government didn't try to use the blockchain to make a digital form of fiat money? sounds good but its hard to do. I think the main reason why governments are dont like cryptocurrency because they consider it a treat to the existing system that they are using.

After that GOLD deal in Bretton Woods agreement by big countries, the average USD rate was backed up with the gold ounce(exchange rate applied $35 an ounce per USD.) Now the situation is a bit different, there is no backup and the single 1 USD equals just 1 USD(USD backed up with USD). A bit complicated but the money illusion is the point here, whatever amount the FED wants to print, they add one more digit the global debt. If the cryptocurrencies are going to be used as a means of payment and store of value, the systematical changes should be made first by the governments. It is not easy as we debate the every stuff except the intentions of governments, in this case.

This is not impossible, I believe that this is really possible in the next decades, for sure that every country already have assigned person what crypto really means and how they are going to adopt it, which is already happening in some countries, there is a country too who made Bitcoin as a legal tender so this means that they found out this interesting and advantageous to the country.

Some governments fear that Bitcoin can be used to circumvent capital controls, can be used for money laundering or illegal purchases, and could be risky to investors. The adoption of cryptocurrencies by Governments will come at a price of breaking the decentralization law

Of course they would. More than 50% of countries would have their fiat on blockchain by 2030. But that may not be entirely a good news for crypto but surely would be a boost for blockchain development. The crypto world needs to go hand in hand with the government to create a safe and acceptable crypto environment for everyone.

Crypto currency is a great example of new currency in the future, and I think there is a lot more to be resolved before it can be implemented.

And one of the many obstacles to achieving this is the current lack of knowledge of crypto currency, especially people living in the middle of the mountains, which has not yet been reached by government support.

I think nowadays it is barely possible that any government would adopt crypto currencies. Everything is great, they are collecting a lot of taxes and making themselves reach, why should they change such a successful scheme?

That is why i said that will be small chance. Zero possibilities maybe not, because in the world of technology nowadays maybe someday people will create cryptocurrency that really perfect to use as payment. Or at least without it's volatily it can be used as payment and can be accepted all over the world.

Anything can happen but its very very tuff project to convert all government transaction into crypto currency. It needs more research so that if it goes will take more years.

Of course not. Cryptocurrency will never replace the national money of states. Cryptocurrency does not have such an opportunity and is not intended for this. Each state relies on its national money to grow its economy. Cryptocurrency can successfully walk in society only along with the national money of states. Cryptocurrency will simply occupy its niche as one of the means of payment, and no more.

It's not that easy, I think, even though cryptocurrency is able to cover the shortcomings of fiat in terms of utility and modernity, but there are certain aspects that cannot be dealt with. In certain editions, the use of fiat is more effective, for example in instant and micro payment, free of fees and more effective right to pay directly. And for me, cryptocurrency is more effective as an investment tool.

In my opinion, it is difficult for governments to adopt cryptocurrency to replace fiat currencies. because the crypto currency is fluctuating and difficult to guess the price movement. especially with the current crypto currency experiencing a very significant price decline on the exchange. the government needs to study in detail before making a decision.

Digitizing currency's they will do.

As you said, crypto is a multifunctional system and solve the problems of payment and shipping over long distance is quite good, the government is sure to capitalize on these benefits, it will greatly reduce the cost as well as transportation time, improve work efficiency. But crypto is also not entirely good when everyone knows the system creates anonymity, no control and change from the government can appear here, while fiat currency is always imposed by the government, and for the sake of the common good, the government will choose fiat as the main currency, crypto is only an emergency option when needed

yes govt's now already adopted cryptos but they dont said that they will replace fiat with cryptos  .  there are also other govt's that creates thier own crypto aside from supporting standard cryptos but of course they are more in favor of thier created cryptos since they can partially controlled it as some of them are centralized based cryptos  but still fiat currency are still there and its still the main currency that thier country use  . i think cryptos  will only work this way forever  ( as an alternative means )  .

No they won't
1. Cryptocurrency can't be controlled by the government even if every country launches their own cryptocurrency they can only control that which won't be used worldwide reasons they're fighting against cryptocurrency.
2. Cryptocurrency won't replace fiat what it can do is gain ground and be adopted. Many countries have citizens who have no access to the Internet without Internet people can use cryptocurrency.

Well it is not easy to fully replace fiat with crypto somehow
It have a huge cost of doing this, it takes long time for people to convert from physical to digital
So, future yes but not if instantly

I can't imagine it too right now, maybe it is not yet the time for this to discuss, maybe too early for now, but we don't know what will gonna happen in the future, and we are aware that it can really happen but not too soon yet. Maybe for now, we should focus on adoption as that is what we need most now rather than thinking how they can replace it.

We really don't know on what would really happen a few years from now if the government will really adopt cryptocurrency and if it will take over the fiat currency in the future or no. We already know right now that some of the governments and even country hates cryptocurrency because they see cryptocurrency as a threat to the government so they afraid of it. Well it would be better to start first on adaptation by the masses so that the government will be able to understand why cryptocurrency is good for their country and it is not a threat for them.

Adopt yes and it's recommended, replace fiat I don't think any government is ready for this, the government lacks enough infrastructure to do this, companies still control the internet connection and every country has areas that have no internet connection, so how are they going to transact.

Government might adopt the cryptocurtency but it will be centralized so they can trace and track our transaction and could implement tax every time we create a transaction when sending a money or withdraw.

That could be a problem if they adopt and approve the cryptocurrency and for sure they will not consider the privacy coin because it uses an anonymous transaction and a stealth addresses

Even countries like US, UK, Switzerland, Australia and so on have legalized crypto as a currency, it will be impossible for cryptocurrencies to replace fiat currency because the government and banks will still support fiat over crypto that the government don't have any control to cryptocurrency.

There are several possible options for implementing the cryptocurrencies as a means of payment and store of value. It will be suicide for the banks to lose the competitions and that day is no longer than 10 years, in my opinion. The taxation is the biggest theft, I doubt the crypto transactions will be traceable for the governments due to the limited access to all features. Anonymous transactions will be a headache for governments in this case.

Before paper money, there was another payment method that people used to. Cryptocurrencies will also be used, as paper money is used because it is better than previous. Obviously, I doubt that governments will choose one of the crypto's on the today's market. I think the money of the future will be the digital variant of the current money created by them. Or Bitcoin, who knows...

I think government won't replace FIAT with cryptocurrency as payments. FIAT and cryptocurrency have their own advantages. Maybe they will adapt cryptocurrency as alternative payments and use its technology. So there will be fiat and cryptocurrency in the future. Nowadays a lot of government have refuse cryptocurrency in their country because they think it is used by some bad people like terrorist and criminal. It has so many risks

I think almost all of the government are the same and always want to have full control on everything, just like China who will create their own cryptocurrency but seeing this on a positive side I think it will also good because people will learn to use crypto and soon they will learn the origin of cryptocurrency and choose decentralized coins like Bitcoin. the government may just put other cryptocurrency as another option for payment since they don't full control to it.

Theoretically it is possible. But in the near future, this is unlikely to happen. Many countries are still against cryptocurrency. I would really like to hope that cryptocurrency can really replace Fiat money, as it is much lighter.

Even if the Government replaces fiat money with cryptocurrency, certainly it will not be decentralized but will still be controlled by the Government. There are many challenges if the government replaces fiat money with cryptocurrency and one of them is the uneven internet access in various regions

There is a big possibility that government will use crypto currencies in the future instead of fiat but when the scenarios will be hit. The governments people can use crypto currencies without any problem.

Like illiterate people,beggars,persons with disability and other entities that is part of the government can easily use crypto currencies. Once this kind of hindrances can be solve then the era of crypto currencies as the main currency will begin. With regards to a better economy, I am not sure whether crypto currencies can do much about it as it will always depends on how the government will act to achieve it.

It is really appicable but the government won't do it because they can't track the citizen's money when the people are holding cryptocurrency and the chance of they hiding their weatlh to avoiding tax is bigger, so the government needs to make a centralized and controllable cryptocurrency if they really want to replace fiat in a country

The big question is do we have any government now that can implement this, this is not easy, you need all people educated and there are areas that can be transacted with fiat only because not all part of any country has the features of a city, only a highly industrialized country can do this.

I don't think crypto will replace fiat currency. because fiat currencies have the full support of the government. and it is not possible for the government to give up fiat money because with fiat money the government can control the economy of its citizens. and also I think that most of our people do not understand cryptocurrency and are not ready to use crypto to buy their daily needs, especially for parents and their children who do not understand technology. and also they are used to using fiat money. so in my opinion fiat money will still be there.

If speaking of possibilities, then the answer is yes. As you said, fiat currencies have many weaknesses, in contrast to cryptocurrency which offers efficiency, security and resilience. Crypto can replace fiat currencies in the future.

Yes, we have. The government in every country has the capability to do it. If it will be implemented in a certain nation, I think even in rural areas it will be issued. Fiat is part of every people's daily use, and if crypto will replace fiat then there is no chance for the countryside to stay using fiat even if crypto is already implemented to use in their daily life.

The reason that most people accept the current monetary system is so simple: People have been using fiat money, so am I! The same reason is the habit of consumers. We have used fiat, which has become a routine now, and it is very difficult to change and accept a new currency. I can't do anything!

Although saying that cryptocurrencies are becoming more popular with many people, we cannot see or hold it in our hands. So many people still choose to use fiat instead of cryptocurrencies because of the existence of fiat.

As long as not all stores or main stores accepts crypto, fiat will still be in need, it will be hard to eliminate as many still not into crypto. But it's a good option to those who find fiat not convenient especially the hassle banks give due to long lines and maintenance they are always up to.

I don't see any government supporting cryptocurrency against fiat any time soon. It would take a long time for government to support cryptocurrency over her domestic fiat. I understand that governments spend a huge sum of money annually in fiat management and fiat has a lot of weaknesses, but the change won't be instant and would go through a cycle

Agree, fiat money is still needed for transactions because it is more easily accepted by many people. Not everyone understands about cryptocurrency and gets internet access so that fiat money will continue to be used by the Government even though it will be digital

Adopt should be the right word and not replacement, we have been using paper money for hundreds of years and it's still working for the majority of the people and will still work, they can both used in transactions so why not just adopt Cryptocurrency and do not replace it.
Not 100% of the people in this world know how to use this technology.

If Government adopts Cryptos, people who worked in banks will loose their jobs. Our government will run out of money without getting tax. They cant get separate money for Intentional transactions. Banks will be closed... They need another 10 years to educate people about cryptos... People in slum and uneducated will be in trouble.   

There are some countries which already have a panel and discussing the possibilities of this. But the common man is still not educated enough to understand and use a crypto, if the government thinks it is a good thing to do then they should start educating about it.

They should provide free internet or at least have a provider that really offers a secured and fast internet connection. This can be another problem if ever in my country as many area still not capable to have a good internet connection. But if implemented in Cities it can be adopted and many is fine with advanced technology trainings if ever government will provide one.

Best case scenario is that governments will make it super legal and adopt it themselves as well, but governments own crypto currency makes no sense at all considering they are literally printing their own money anyway and there is no reason for them to get better. I mean these are the people (politicians) who get richer and richer by keeping the power whereas we are talking about a world where decentralized or basically any blockchain improvements would take power out of their hands.

I seriously doubt that governments would do that, or even allow that, hell most even hate bitcoin itself and would stop it if they could. Long story short, there is no world where governments actually replace fiat, they would just supplement it with fake crypto stuff but fiat stays as long as it gives them the power.

nah, that will never happen. You are just looking at the negative side of fiat money and the positive side of crypto to compare, it is unfair. In general, fiat money is only subject to inflation or over supply or demand, which is solved by central bank and payment problem also becomes very common and familiar.
For crypto, I don't think it is a currency. because its value is always volatile and transaction fees are quite expensive compared to fiat money. besides that it applies too much technological nature so many poor people will not be able to apply. The conclusion is that crypto should only be an asset, it should not be a common currency for payment.

Not in the nearest future. Governments are fighting against cryptos. China is banning everything, Europe rejects Libra to take place, USA wants to ban TON and so on. We still have a long long way towards the mass adoption.

I'm very sure that they are doing to adopt the cryptocurrency in future, but I don't think it will be used as a replacement for our current conventional currency. Both of them are going to work together, and yes I believe that is possible. Every country is not going to have the same cryptocurrency, it will be different, just like China already announced that they are releasing their own cryptocurrency.

When China releases their cryptocurrency, other countries are going to do the same and release their own cryptocurrencies. People will be able to make use of cryptocurrency if they want or redeem it for fiat or cash. None is replacing the other, cryptocurrency will make things faster and advance other features.

The reason why governments don't want to accept crypto in the economy because they can't control it. We can't blaim gov. by of banning crypto in their county.
Maybe in the near future they will accept it but they'll impose tax so that the economy of the nation benefit on crypto.


I didn't regret if banks will be closed, those banks is the reason why poor stay poor because they impose unfair amount of interest.
We don't should implement of total digital currency use, we still need our own fiat currency in case we don't have our devices to perform transactions buying, selling on our daily needs.
Mass adoption is great but we still need our fiat currency.


According to this article,
Here's the list that are creating their own digital currencies (https://www.verdict.co.uk/bitcoin-countries-digital-currency/)

• Ecuador
• Tunisia
• Senegal
• Sweden
• Estonia
• China
• Russia
• Japan
• Venezuela
• Israel

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"Move over bitcoin, these countries are creating their own digital currencies"
https://www.verdict.co.uk/bitcoin-countries-digital-currency/

FIAT can't be replaced with crypto entirely, both have their relevance. It's true that money has evolved from using cowries to present day FIAT and digital currencies, but it doesn't mean crypto can ever replace FIAT currencies. By the way, for now there is no official "government cryptocurrency" per say, the fact that some are trying to implement their own digital currency doesn't mean it will be cryptocurrency. Well, I'm hoping so see when crypto can be used as normal FIAT currencies.

Governments have no interest to use the blockchain and its facilities in the real banking system. Their traditional banking is more than enough  to survive under the economic crisis and they have power to print the money with one phone call. Especially the USA as an owner of worldwide backup currency, the FED will not let the threats to destroy their long term plans.

 :-* :-*

I really hope it will replace fiat,so that we can all escape this shitty taxation system = )
Gotta purchase some Bitcoin (http://okex.com) from my fav exchange OKEX.

Although it sounds good but do you really think the government will give up every manner of control they have on fiat? I don't think so, which make me believe they might not want to allow cryptocurrencies to replace fiat. Even if they want to, then it would be a government backed crypto which will be centralized thus giving them the neccessary powers. To be realistic a coin like Bitcoin which is fully decentralized, which government will allow it replace its country's fiat.

Not necessarily replace but I suppose it might become an alternate just like how there are some companies that uses their own so called "website currency" and bitcoin to be honest could just act as that because bitcoin commonly used for online payment anyway. The fiat is still needed and tbh hardly replaced by any other currency that are independent from government because that's simply demanding economy disaster.

No they won't. There won't be a nation wide cryptocurrency, which government will be in charge of it. Secondly if every country launches their own cryptocurrency, it will be used just in the country not in every country. This is because launching their own currency puts them in charge as it currently is government are not in charge of cryptocurrency the reason it can't be adopted yet.

Yes, cryptocurrencies will become an option for the people in this world to use as a mode of payment but if we will only focus on the government then I think that they will adapt the technology behind cryptocurrencies to replace their old system of fiat currency. I believed that they will have a transition from being physical to digital with the help of blockchain.

cryptocurrency is today's modern technology and fiat currency has long been trusted to be used as a transaction tool, therefore it is not possible if the government can replace the role of fiat currency into a digital currency that can be used as a transaction tool. both will continue to exist even side by side in the future and of course the government will not replace fiat because fiat is a form of transaction tool that has a history from the legacies of previous people

Governments will adopt CBDCs which will replace Tether on major exchanges like Binance, ecxx, and Coinbase.

Acceptance of digital assets is not so difficult. But people will be careful until they see a real example of the safe use of cryptocurrencies. But the taklimakan platform can help users learn how to work with digital assets, including making the right investments. And a good knowledge of digital technologies will also show people that it’s time to change fiat towards safer and more transparent solutions that cryptocurrencies offer

as far as i can see, there will be a very small chance for cryptos to become an official currency that can replace fiat currency because rightnow it is too weak to have a chance to compare to Fiat when the price is dropping slowly days by days and more investors are quiting, ,from a very convinient currency to a digital wallet, that is hard for everyone still use fiat everyday.

The possibility is that cryptocurrency will be adopted in most countries but it will not fully replace fiat currency unless that in any part of the world has a stable internet connection and every person have smartphones. The good thing is cryptocurrency will co-exist in the future as the government sees the beauty behind its technology.

States don't understand the value of Bitcoin before they get into trouble. Venezuela is the best example. Now we need to plan early. Bitcoin does not offer an exit when the economy goes bad. You need to master Bitcoin. Too bad to be in need of Bitcoin!

Definitely this isn't gonna happen, Government can't adopt cryptocurrency to replace fist currency. The world is getting digital but government will support own currency. Cryptocurrency has some limitations when government can easily digitalize. Especially government can't let this out of control.

Well no i am not against to cryptocurrencies but it's impossible because the most of the governments are against to cryptocurrencies and also due to the nature of it, the governments are against of it because they can't control it and the reason why governments still don't want it because of their people use it

it is not far fetched, China has taken the lead. They have already gone all-in into the blockchain space and it cannot be overemphasized. Xi has also come up with china developing its own blockchain system that has been said to execute 220 thousand transactions per second. I see 2020 as a year where nations will be actively involved in the technology and also in a competition of whose blockchain technology is leadng. I am jjust folding arms and watching it to unfold.

I truly believe in blockchain technology, for crypto to replace fiat it must go through some regulations and control. Many in the cryptocurrency community have spent years predicting that digital currencies will someday take the place of fiat currencies. But mainstream economists tend to view cryptocurrencies with more than a bit of disdain

I think this cannot happen because the government might find it hard controlling their money. Fiat is easy to control and used for many activities but not cryptocurrencies. The government like control and don't fail to exercise it anytime they want but thinking of this might be a very difficult tasks. However, it doesn't mean the government can't support crypto related matters as most countries are already doing it such as China, because the technology within blockchain holds a vital role and position in the future; but that aspect of replacing fiat with crypto might not be possible.

in my opinion governments can and will adopt cryptocurrencies as protocols but not replace fiat currency.
fiat currency has its advantages that we dont consider, read the book Naked Money he talks about it there
fiat money is great, its the people who are not educated enough to use it wisely

That's due to the fluctuation that most of cryptocurrency have and could be considered as a disadvanage when it comes to a country economy because such fluctuation is simply a disaster for the economy stability. In my honest opinion though, government should  just stick with their own currency and these crypocurrency should only become an alternative option that everyone has the right and access. By that we as a user could have various option that suits our need.

to say it better to understand government is possible blockchain technology but to replace its need more debate before it will make. Crypto currency is not stable  and thats the first problem government should be considered before making a decision to adopt it.

If cryptocurrencies will be centralized already and that the government will be able to control its price, then maybe by that time they will start adopting crypto. But for now, i don't see any possibilities that crypto will be adopted by the government knowing its price is very unstable and its bound for price change anytime.

I think it's possible cryptocurrency will replace fiat money. because if we see today some countries will create their own crypto such as China, Japan, Sweden and Russia. and currently we live in a digital age that strongly supports the use of cryptocurrency. and some of our people have also become accustomed to making payments online. so in my opinion maybe in the future the use of fiat money will decrease and be replaced by cryptocurrency.

Fiat currency integrate with government system which is related to the economy situations from particular countries and it has been running for hundreds of years and not easy to replace fiat money to other option such as cryptocurrency and for time being i think why governments adopt cryptocurrency because maybe they want to learn the technology behind it but to be replacement of fiat i think it's hard to realize

All types of existing currencies have their own flaws. There is no perfect currency that will fit everyone because all have differences that is why there are variations of currency existing worldwide. Added by the fact that each currencies in different countries do serve as their identity when it comes to the world trade and market. This serves to identify the prosperous countries above others which makes them the basis of the worldwide change and movement of the fiat currency we currently have. Though the thought of yours is possible to happen, still it will be a long term process before the world can establish a single crypto to be used by all the countries around the globe for trading.

With how the technology works, nothing seems to be impossible now, but it's not going to be immediately, maybe a government can try it in one town if it is successful he can try an entire city and if they have success it, they can implement it in the whole country, but it's impossible if they do it in a whole country right away.

I think that this idea is utopian for most gosudarst. In any case, we will not see this in the near future. Yes, there is an exception - China. China has prepared testing of the national cryptocurrency in cities such as Shenzhen and Suzhou. And just Bank of China issued bonds on the blockchain for $2.8 billion. but other countries that are in the European Union are not even ready to accept stabilcoins.

We all also agree that blockchain and cryptocurrency bring many useful changes. Blockchain was adopted by many institutions and governments to improve utility. While cryptocurrency is still full of pros and cons, although it is profitable but also has a bad side where it can be misused in illegal activities, that is what most governments worry about. So, even if cryptocurrency replaces Fiat, it requires quite a long time and various complicated regulations. I am more certain if cryptocurrency and fiat are used together, complementary.

Indeed, I also think of that before but because of the disadvantages of cryptocurrency, it might not happen just like the volatility of cryptocurrency. We all know that cryptocurrency is volatile in terms of value, meaning it is changing time by time so as a currency that is not actually good. Also, not all country is adopting a cryptocurrency like this so there are no users in some country like that. Yes, there is blockchain technology that is developed to help cryptocurrency become famous but that is not enough for now.

indeed the government might only use its technology owned by cryptocurrency to strengthen fiat currencies and may also be used to accelerate transactions over long distances using fiat currencies, cryptocurrency like bitcoin will be very difficult to use for daily life because it has unstable exchange rates and has very little supply.

I would very much like crypto to replace fiat money, but States will never allow them to do so. Many countries still have a negative attitude to crypto, so it is too early to talk about the introduction.

Adoption of a centralized crytocurrency can easily be done by any country and the technology behind it but the question is that is it going to be an alternative to the government controlled fiat? if yes its going to take more than a decade to educate and teach people how to use cryptos in the adopting countries eg venezuala had tried petro I don't how far the people in that country had embrace that coin and how its had been faring with their economy.

Honestly, the volatility in nature and the anonymity part of cryptocurrency was not the reason why the governments and some institutions don't adopt cryptocurrency but the decentralization of crypto and the fear of nation currency been obsolete which I believe that you'll understand by China stance about bitcoin.

My answer to the OP question, the government don't want crypto to replace fiat and Satoshi also don't create bitcoin to replace fiat but to serve as an alternative.

This is quite a controversial issue. So far, cryptocurrencies are not ready to be accepted. Therefore, it is too early to talk about the use of cryptocurrency at the state level. Time must pass before this question can be answered.

I think, even though fiat money is good, but they also experience inflation, there is no promising fixed value. with cryptocurrency speeti. my suggestion is better the government divert to crypto to be used as the country's currency as a medium of exchange. so that people can easily conduct transactions in everyday life.

Is this not one of the reasons why central banks are getting ready to build their own digital currencies? China's Yaun coin will be the first of its kind as i heard, why said it's not possible? And the existence of the CB coin and fiat wont hurt each other or will they?

Nope they won't, there are slight chances that government use Blockchain to create a stable virtual version of native currency. But then it do not change anything relate to crypto. It will create decentralised transaction record system not related to crypto.

You need to re-investigate for your words, because as far as I know a country has a policy when it wants to print money. plus fiat adoption is still widely used in the community, if a payment method is changed it will require time, especially if using crypto technology. surely it will take time to educate the people who use it

It is going to happen sooner or later, especially when the economic giant that is China has already announced its official coin, similarly Dubai and some other middle eastern countries are also working on crypto and blockchain, i think once these projects surface then most other countries will also follow resulting in real mass adoption.

Governments of the world are without a doubt going to create their own cryptocurrency but they are never going to adopt a decentralized cryptocurrency like bitcoin because they fear that if they let their citizens the choice to adopt a centralized cryptocurrency or a decentralized cryptocurrency they are going to choose the decentralized version which they do not have any way to control but I really think that no matter what they do eventually decentralized cryptocurrencies are going to be the ones that will win and will be adopted by the entire world.

Lol... the purpose of fiat currency is not for trading between citizens. If you want to trade, then you can do the same using gold or silver, or just any other asset. The real purpose of fiat currency is to enable the governments to take debt from lenders, so that they can splurge all that money on wars, welfare payments and on themselves. Do you think that this will be possible if they replace fiat currency with a cryptocurrency such as Bitcoin?

seems to be difficult. what is happening right now is a development where transactions using fiat money can already be done digitally. if seen almost the same as crypto transactions but this is not much different from trading in traditional markets with ordinary fiat money. only technological developments make it easier for everyone to be able to transact even though they don't meet face to face.

If its possible to help all people on any country its also possible to adopt that (cryptocurrency) because the good government always looking on the benefits for people on their country of course, They didn't decide only for few at least for all right? If its also, if no corruption on their country its possible.

Government adopting cryptocurrencies to replace Fiat? I don't see that happening at all. We might have more adoption of cryptocurrencies but not to the extent of replacing Fiat, even every country do that, US will never.

The central bank might prefer to publish its own cryptocurrency rather than adopting cryptocurrency on the market. This is because the central banks do not want their role as monetary policy makers disturbed. Cryptocurrency on the market already has a supply limit and this is definitely not wanted by central banks if they adopt cryptocurrency for monetary policy

Now the government don't even care about people. governments are all corrupted now and they are doing everything just to find benefits for themselves, but not for people who live in the world. overtime, when blockchain will be implemented into all state structures, corruption will disappear and then the government will think about people

Government adopting crypto to replace FIAT doesn't even have 1% chance to happen, obviously it's, never going to be possible. However, adoption might come gradually but with very tight regulations. If the government can have their way to track and control how citizens spend their crypto and also compel them to pay tax for holding crypto, adoption will be easier. But we all know that's totally against the reason for creating Bitcoin, decentralization was key. Even if governments create cryptocurrency for their countries or jurisdiction, they would be highly centralized stable coins which have no much difference with FIAT except the digital aspect per say.

I am seeing this to happen in the future, but not nearest future. This age is digital era and it is necessary to go digital in every aspect of life including monetary sector. As you can see, some countries have already issued their own digital currency. Likewise, I think others will follow suit in the future. So I am very hopeful.

I don't think too that it will ever be possible, we can have our adoption approved by government as a choice to do transaction or as payment process but not to the extent that it will be use as fiat alone. It's just good for an option as we can't change the traditional system been happening for long.

Personally, I think "government cryptocurrencies" will have just the same problems as fiat money - it will be under strict control, have pretty big fees and long time of transfers between different countries.

I have positive approach for this topic,It is possible and government will adopt it may be not early but in future .Adopting crypto will be need of government.Its era Of modern smart technology and new generation sick of from old trends like traditional banking systems.Artificial Intelligence overtaking the corporate sectors why Because Artificial Intelligence more productive than manpower.

Cryptocuurency save our time and no need of any third party to make transaction locally or globally,This is reason business tycoons and investors attract from the crypto and use it in daily life.

I am sorry for contrasting what you have said but I dont think that the cryptocurrency will be adopted by the government because cryptocurrency's price in the market is not stable and needs a lot of improvement and besides there are a lot of things does the fiat can do but not the cryptocurrency coz as what I said it needs more improvement.

For sure if government control something so they will keep control over it. Right now crypto is being transact all over the world and it has very decent fees but government will keep their own fees for it but yet crypto is not under government so no need to be worry. Fiat is still being use in countries it's yet not replaced to just chill.

Government must take control every financial instrument because stability is their responsibility. So far government only adopt blockchain technology and like or not they try replace fiat in cryptocurrency position, government can control fiat but not with cryptocurrency. Safety and taxes become major opinion to keep reject cryptocurrency, now we have point of view why regulation never comes up?.

But we have saw in the past that those countries which feel insecurity for their financial system or feel that their currency will be dumped because of any issue then they adopt cryptocurrency and feel freedom in their financial system. Those countries which are in any war situation they also feel that cryptocurrency will secure their economy so it is sure that in the coming future all of the states will adopt cryptocurrencies along with blockchain system.

Many countries not ready for accepting bitcoin as legal currency payment because need to prepare some schedule way and have call center when bitcoin and altcoin got problem with sending and receiving balance, still have country not ready with good internet service where bitcoin without internet can't working well and not function for seller and buyer.

It is possible for crypto currency to replace the Fiat, but it will take a long time. For many government to accept this it may take a lot of effort,in the process many government who has secret dubious accounts will know that many of their account status will be revealed and will therefore not want people to detect. Moreso, it is not every body that will be able to Operate with crypto, if only the world will pick up seminars before adopting it

Governments only think about one thing and that is to keep and to increase their power over their citizens, they are not going to accept cryptocurrencies but not because of the reasons you state, they are not going to accept them because they are going to lose control of the population and their money if they do that and they will never do something like that unless they are completely forced to do it, and I think in the future instead of adoption we will see many governments banning cryptocurrencies but people will keep using cryptocurrencies despite the ban.

Especially banks and we all know that banks are the one's controlling the world, they are taking advantage of our money, that's why the founder of Satoshi was so sick of this thing too that's why he came up to idea wherein banks are in no control, and most of us here agrees with him so we are supporting his idea.

No, states will never switch to using cryptocurrency instead of their national money. Moreover, the Chinese government will not do this. In China, they want to issue their own national stable coin. This will be the same national money yuan, only in digitized form. Stable coins do not belong to a decentralized cryptocurrency, this is the same fiat, only on the blockchain. While states plan to issue their own stable coins, however, they will not switch to the use of decentralized cryptocurrency.

Cryptocurrency has many great features (decentralization, anonymity), however they are not what the governments want. They want a currency that easy to control and stable.

I doubt they would ever replace fiat currency, since they control it. Imo, the most they would ever do is create a coin/token to fiat counterpart.

Just like what I think that in my opinion the government will not adopt cryptocurrency as a means of payment later because we know that cryptocurrency is unstable and also now fiat currency can also be used without having to meet face to face and we can make payments using the internet using fiat, so I think there is no way the government will adopt cryptocurrency as a means of payment. But, what will happen later we do not know, this is just my personal opinion.

Governments will surely not do that of one's own free will. Only people have the power to change the established ways of payments by making a revolutionary. If people start using cryptocurrencies instead of fiat money, they will create a pressure and governments will have to act. In a democratic countries I believe that people can really achieve crypto adoption. People have the power, but they do not use it because they are too lazy for changes to a better future.  :'(

No i think it will also a big help for them if they used crypto currency they just dont know how to use it and have no dea if they can make it more secure if they make thier own.   They just need to make it backed by real money or gold then it will be usefull to any country want to addopt it.

Cryptocurrency will likely replace fiat in the next 100 years. At present fiat money cannot be replaced with cryptocurrency because it is still needed by the community, especially the lay and rural communities. The government will also maintain their country's currency thereby limiting the use of cryptocurrency in certain countries.

It is far beyond to happen as of the moment because there are still lots of economic issues as well as global issus that are needed to have more focus rather than adapting cryptocurrency as a whole. Also, before thar thing could possibly happen, the whole world will need to full adapt the usage of cryptocurrency in which as I can see right now is still impossible to happen since there are lots of countries that are still not capable of the adaptation because of their technology capacity which most still cannot cater cryptocurrency usage. Also, there are lots of laws that are needed to be considered if cryptocurrency will replace fiat because every nation have their own fiat currency that serves as their identity as well. It can be more possible to adapt using cryptocurrency because it is realistic rather than pushing the idea of cryptocurrencies to replace fiat. Maybe that could be possible if our world will be dominated by modern technology in which no more materials can be used to produce fiat currencies. But as of now, it is far beyond to happen.

It is just a matter of time if the government will accept and consider crypto a safe way to be used but somewhat like they are still not believing that cryptocurrency is the future. Yet, they just believe that fiat is still good to be considered as a currency rather than adopting new one in digital form. However, it is already been talked about and also waiting for SEC approval. The lengthy journey of crypto never ends shortly, may in the future the government realizes how was crypto meant importance to the growing and developing environment.

We may could say that it was far from happening but knows exactly. The twist in minds will happen and could see their support to this case.

Maybe that can happen if some disadvantage are being solved and being innovated. Government can really adopt cryptocurrency, but to replace fiat that is not sure because we are now used to use fiat when buying something. And one thing also, there are still some countries that are banning cryptocurrency for some reasons. They are thinking that this is a scam and the real thing about that is because they cannot charge users taces from using bitcoin. We all know that cryptocurrency is decentralized, meaning there are no group of people who are organizing or running cryptocurrency.

No it's not going to happen since government hate the decentralized ability in many coins in crypto space today, it's one of the main reasons Central Banks are building their very own digital currencies but i bet people love making money which is why crypto coins will be more favourable over all

I don't think government hate cryptocurrency because there are already a lot of countries who accepts crypto like US, UK, japan, Australia, etc. The only reason why the government will not adopt cryptocurrency to replace fiat is they will support fiat currency no matter what because even it is not profitable, it is the material thing that we use in exchange for goods and services.

There are just countries that officials aren't corrupt and it could be where digital fiat that is using blockchain will be adopted. One country adopting this cryptocurrency will lead to another til all will also be adopting cryptocurrencies. Today there are number of countries who are adopting crypto and IRAN had just started trying.

Replacing fiat may take years and years, we are just in the early phase of adoption so we are yet not seeing where all these will move forward. But the countries that first bann BTC are now adjusting and had been unbanning it.

They will adopt cryptocurrency cause they have seen the potential of it but I don't think that replacing our traditional fiat currency will be replaced by them. They will not replaced them but the community or the people will do. Thats the essence of blockchain/cryptocurrency, we dont need a central authority to hold us. Crypto is freedom.

Blockchain systems are indeed more used as transparency and will usually be rejected from countries, because most countries do not want the world community to know their economic system. but on the other hand, this system is quite helpful to reduce the level of corruption due to transparency. although it can still be manipulated for transactions, but there will definitely be a track record.

fiat didnt replaced other currencies or payment methods but other payment methods are still there workable , its only up to the person if what he like to use  . the old way or the new way   . government creating thier own crypto and replace their standard fiat is better to hear than crypto replaced fiat because atleast , its still based on banks and governments  while crypto isnt based on anything   . the essence of being a fiat is still thier but it only became upgraded  .

This will not happen in the nearest future. However, governments are positive about digital currency as some countries have already jumped into the idea of creating their own digital currency. But I wonder what to do with the coins in the market if governments issue their own digital currency? I think most of the coins in the market will disappear once this happens.

yes you are right this will take a long time for the government to start its own digital currency, but if they started its own currency then there will be no such freedom as in the bitcoin, it may be under the control of many restrictions, i think after that may be people will still use these digital currency, but the only benefit would be that the useless currency will vanish.

I think governments themselves will not want to adopt cryptocurrencies. However, the "old school" of economists will sooner or later leave the Central Banks and technology will win the war itself. Cryptocurrencies are the future of the financial world, so sooner or later paper money will have to be replaced by digital money, and here are cryptocurrencies.

Mostly seen that government are against the cryptocurrency,but some countries government also in favor of crypto.We talk about the majority and found that majority is against.There are some reasons and one reason is that majority of population unaware about the cryptocurrency and they do not care about the crypto.There is need to aware the people to use crypto and aware benefits of crypto.
If majority of population use crypto and feel easy in use of crypto can convey the government to legalize the crypto because majority is authority.

In any case, the state will take such measures. After all, by and large, the state has no choice, because cryptocurrency continues to develop and spread,
more and more countries are creating legal fields for regulating cryptocurrencies and are also introducing cryptocurrency into their payment services.

But cryptocurrency is not subject to any taxes that the state so needs and its normal functioning. Therefore, the best thing the state can do is not only create a new legal field,
but also financially adapt cryptocurrency to its financial systems to one degree or another. Thus, the state will take control of the cryptocurrency and partially receive various
kinds of profits from this, from financial control to the control of the release of new tokens.

They will try to take control of this market that is a given, but are they going to be successful? I doubt it, this market was specifically designed to resist them and they do not know how to deal with this, how are they going to force people to tell them how much bitcoin they are holding when they cannot identify them?

This is going to be a big problem for those government and right now they do not have an answer and even if in the future they develop one the developers will most likely adjust and modify their coins to resist those changes.

maybe there are only a few countries or local governments that will adopt cryptoqurrency and not for the whole, because there are still many countries out there that don't recognize or even prohibit the cryptoqurrency industry. but I believe that blokchain technology will be very much needed in the future, but digital currency (crypto) will never replace fiat currency or as a transaction tool like paper money.

TemTum's MOU with a nation state shows governments are looking to move to digital currencies

The fact temtum has the MOU and will be the first is very exciting times - this is not a digitalisation of a dollar, but a government issues crypto using temtum