Bitcoin Forum

I can imagine that in the far future, a government based blockchain currency that is declared worldwide. This may be around the time a one world government is put in place, but this will not happen within our lifetimes. (If it ever does)

I'm not much into conspiracy theories, but I think it can theoretically happen. With a digital currency, you get paid with it and transfer it for everything that you pay for. Governments would be able to track every transaction and they will automatically deduct taxes. (I'm sure the tax code will be modified quite a few times by then)

Governments would be able to shut down payments from certain wallets, like if you were under suspicion of a felony and have not turned yourself in. Similar to what Julian Assange experienced when visa/mastercard/paypal donations were cut off.

There are other anonymous digital currencies where one can survive without the Gov backed blockchain that I'm sure will be used extensively.

Just thought it was an interesting topic and thinking off of the top of my head...

Technology is changing how the world invests and how sellers interact with clients… Probably, most of them intend to sharpen the focus on their technology and risk management businesses. It is clearly the beginning of a new era.

It can be since we are now in the period of technology where we can make things better than before. Government is just waiting time to take the newly system. The saddest event here if the government will push the citizens to have the altcoin they did. It is now again back to centralization.

I strongly believe this will happen in the future.
Blockchain technology that we know has now penetrated to all countries. Blockchain technology has been widely studied, even some countries have applied it to companies, and government-owned and private banking. I think, not just the currency that uses blockchain technology, it may be a plane ticket, train or so forth.

Very interesting topic.
Every technological development is definitely followed by other technological developments. With blockchain technology the government can minimize expenditure. Every transaction can be done quickly (without waiting), when the transaction is in progress, at the same time the blockchain system instantly records, and doesn`t require intermediaries (third parties).

Possibilities are high and it can actually happen. But in my opinion it will only increase crime and mostly corruption. A one government would not suite because every country have different cultures and traditions or even beliefs and understanding.
One government will only bring chaos. For instance, the president is from a specific country, how would he allot his time to understand what a specific country need. For he would only notice what his country wants and how he can make it rich.
He can easily turn down a country as he has the power.

The interesting thing is you could prevent people from participating in commerce and essentially make them unable to buy or sell anything. You could implement this with the blockchain by permanently marking them or saying that those who do not bear the mark cannot participate, almost like I read about this in a book a long time ago...

You can imagine that if you want but that is exactly what bitcoin is trying to avoid, if bitcoin is still around then we will have nothing to fear from a currency with such characteristic and in fact it will be very doubtful a currency like that will ever emerge when people will have the option to use bitcoin instead.

Yes we want an international currency like this but the people you ask to issue it? Holy shit that is literally the opposite of everything we are trying to accomplish. We want to get away from government censorship, and get back to being private and controlling our money. At the end of the day if one world government holds power on a currency it is no different than today and I would argue it is severely worse than todays situation. To me you got it all twisted because that one government currency would take away everything that Bitcoin currently is; it does not seem feasible.

Bitcoin is

-censorship resistant (no bad actors, random seizures, totalitarian regime)
-decentralized
-open and borderless (this remains intact)
-neutral (this would get tampered with as now they know who you are, bitcoin does not know or care who you are)

If all you have is the open and borderless thing that remains intact from everything Bitcoin is, it isn't Bitcoin or anything that was thought about at the beginning of all of this.

With the most advanced technology that we have that almost all countries in the world pursue to develop in order to be inline with the current trend and connected with the world, it can really happen. Transactions based on a block chain technology using a unified crypto currency would definitely make everything fast which is really good. On the other hand, if tine will come that this is already in practice, a guard system to be configured to make government transactions more transparent, thus avoiding fraud, conspiracy and corruption. We are all aware that corruptions and many illegal activities take place in the government. A lot of implications are to be reviewed and consider for this matter.

Although I do not rule out the theoretical possibilities of this happening in the far future, it just doesn't seem feasible in my eyes. Think about major powers like the US, Russia and China in a feud over their own currencies being on the blockchain, as standard currencies throughout the world, it's just going to fall through.
Yet, a move like this could be highly fruitful to the entire world as a standard currency, on the blockchain, could be used far and wide across all countries without any regional jurisdiction.

Governments have a history of using innovations from the private sector for their benefit. Computers and networking were started by private companies and the Government build arpanet, which then turned into the internet. Governments will slowly adopt blockchain for their benefit too, especially with the software mess that they currently have.

And yes, the blockchain can be a double edged sword...

Yes, it's very likely we will see a crypto created by a government as soon as this year or maybe next. Many countries have already talked about this and shown interest in creating their crypto, but it doesn't necessarily mean it will become popular enough to be used as a world currency.

Yeah that could possibly happen in the future where governments want to take over the cryptocurrency industry since they already started the move to eliminate possible competencies like those of privacy coins. I do hope that as technology advances we as a community can also counter these plans because this is something that is against our rights to have privacy. I also believe that another form of Satoshi Nakamoto will exist and and will help crypto enthusiasts,  investors and the whole cryptocurrency community to create a more advance blockchain technology that is difficult for the government to make fun and mess with. If that happens we still have our right to have a financial freedom and will live happily ever after. But still we have to expect something bad from these bastards just like what they did to the crypto community just recently. ;D

actually there are many digital currency although not called crypto currency are used wordwide, what you have payed and recieved is just a serial of number ,they are all centralized and efficiently trasaction.as you use blockchain to do things like this ,the speed can be impatient while the transactioin qualities be a huge number.thats the improvement the blockchain is forward to .

This can really happen if government will to consider trying this such thing.This will work perfectly good in terms of them but cannot offer the same gains/profits we are gaining by bitcoins.Because its sure that if government will to make this kind of type of currency then its centralized for sure unlike bitcoins.

Cryptocurrency, not a state-owned company or individual, with this condition is very likely the government will take over the existing cryptocurrency and replace it with (new crypto currency) their own engineering.

With the blockchain technology that has been implemented into the krypto system, they will more freely set the price and fluctuations that occur, as well as control the development and activities that occur.

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 I do hope that as technology advances we as a community can also counter these plans because this is something that is against our rights to have privacy.
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If you live in the USA, you do not have rights to privacy. (Under the constitution yes, but under the government, NO) After our friend Bush Jr signed the Patriot Act into law, the CIA/NSA spent a lot of our tax dollars to eavesdrop on all forms of communications. Hard lines, cell phones, text messages, skype, email, FB, etc...

If you want private texts, check out the Telegram app. And you can Torr as your brower... =)

The Bretton Woods agreement was the last time different nations agreed upon a new global currency system and since then there have been many conspiracy theories regarding a global currency reset. US dollars position as the world's reserve currency is declining, China is calling for a global currency, and then there is IMF's SDR, supranational basket of currencies.

Today with Blockchain technology and other innovations it's quite possible for the IMF to come up with a global cryptocurrency, implementing it wouldn't be difficult, but bringing together developed and developing nations with different socio-economic conditions to agree upon it would be difficult. A global currency would bring equality, but there would be no privacy.

Bitcoin is a global currency, but it's not going to be a one world currency, but as far as decentralized cryptos are there, I think even if in future different nations agree upon a new global cryptocurrency system, there would be enough economic freedom.

Having one currency is much more palatable for me rather than a one government. I think that woth how the world is functioning right now and the posturing made by several different countries toward one another means thatthwre is much more animosity and the dream for that one government and peace is much more that harder to obtain than anything

I heard many countries are try to embrace blockchain technology. I think they will create their own cryptocurrency that they can control by make certain regulations of cryptocurrency usage in those countries. Government actually try to reduce paper money usage. Their bank create a product called credit card. We are gradually become cashless society. Thats why they afraid about bitcoin because the only one who can control it is its users only.

To be honest I don't see much sense in world government creating cryptocurrency that will nearly just like the usual currencies (as TS described it). Cryptocurrency was created exactly for making financial operations without banks or governments interruptions, to bring it out of their control. So why would the world government create it's own cryptocurrency especially it will have no differences from usual fiat currencies?

This will be always a dream. It owuld make so much things on the world easier. But as long as people draw boundaries, they will exist differnce currencies on this planet. They are many gouverments who dont want to play at the same side with other countrys and will never accept. So thats why i think that this would never happen. Even if the Blockchain and crpytocurrencies will permeated, their will be different cryptocurrnecies, each for every country of the world.

B/c they would be able to track every transaction and it is a way for more control over people which is essentially what they want. (The way they think is that it will be good for everyone and that is what they will sell to the masses, ease of use just like a visa card) When you travel internationally, you do not need to do an exchange to another currency, you do not need to worry about taxes as they will be automatically deducted from your digital paycheck.

They would be able to detect money laundering, illegal and suspicious transactions, investment gains,etc...

It seems like there is one controlling everything and it is like the end of the world. It is something like on the book of Revelations, well everything is possible and it might happen. It would be very hard if everything is controlled by someone for there might be no free will if that happens.

the good thing is that the technology is here , which wasn't imaginable 10 years ago. but there are a lot of factors that come in to play , every company and government will want there hands in it.

If the world government create their own cryptocurrency then this means that they are accepting crypto as part of the society and somewhat credited as another means of income for their people. So it would be great for the community to have cryptocurrency circulating and operating in their field that could give boosts financialy.

This is actually an interesting topic and it would be great if this will happen in the future times. This is not impossible in my own opinion  ,if we are going to make an analysis on how the money evolve from the past it is really I interesting on how it evolved until it became better in this present world. Now bitcoin was discovered and while others are welcoming it there are also making an opposition but the good thing that bitcoin has compare to the characteristic of our traditional money and way of transaction is far greater than this so no doubt that this will be our future.

The problem with that scenario in which there is only one currency is how the governments of the world are going to first agree to that, except of the euro and some countries using the dollar almost every single nation has their own currency also bitcoin is already here so they will need to kill it and even if they did how are they going to stop people from creating their own crypto.