if central bank release cryptocurrency, any effect on current market?

[GalahadSeika]

But of course Central Banks will do everything they can to retain the power within them , they would even go as far as getting themselves involved in bitcoin just like what you said they are currently interested in blockchain who knows what will they enter if the future asks of it they will and if ever banks release their own coins I think that will not be a good news because the banks could force citizens to patronize the coin because it is now the new currency of the country thus affecting all crypto currency in the stock market.

[amishmanish]

There seems a sign that central bank are currently interested in the blockchain. So what will be the effect on current cryptocurrency if central bank release their own coins? will it be a good news? 

A lot of banking/financial  institutions are interested in blockchain. This shouldn't necessarily mean that they intend to launch their own form of crytpocurrencies. Even if they do, most people won't use it. At least most who understand the concept of crytpo. Can we expect to see a central bank starting an open source project in a Github repository anytime soon??

Banks maybe interested in other capabilities of blockchains like implementing smart-contracts. That too may only be implemented in the form of some products with customers. For example, giving you a bond over their blockchain that you can verify and see on a blockexplorer. Something of a novelty to their old, crazy-rich elites. But there is no chance in hell that they are going to start transacting over a transparent blockchain for everyone to see the movement of funds.

Making that movement transparent amongst the biggest banks is what bitcoin is meant to do in a plausible future.

[HERO...]

Wow, this is a very good news, and it is true that it was a day or so. the bank has realized this fact so far and if it recognizes it then there can be no better than this so it is a good day to say that it very good and not only that our Bitcoin is so bad that it did not understand the bank anymore and the biggest thing is. I am very happy that cryptocurrency will be accepted completely from now on.

[Sumaiya55]

It doesn't make a difference as long as it is not decentralized. And I'm pretty sure that banks won't make a currency using blockchain and just let it operate just like Bitcoin. They would probably take such an step only to attract the people from cryptocurrencies towards their coins, but it won't work if the value or the movements of the coin are totally under their control. People use Bitcoin because it is independent, both by value and network.

[coolcoinz]

Wow, this is a very good news, and it is true that it was a day or so. the bank has realized this fact so far and if it recognizes it then there can be no better than this so it is a good day to say that it very good and not only that our Bitcoin is so bad that it did not understand the bank anymore and the biggest thing is. I am very happy that cryptocurrency will be accepted completely from now on.

Nobody is releasing anything now, slow down or read the thread. It's nothing more than a what if question.
I think that a central bank releasing its own cryptocurrency won't really change anything. It will get some attention from people who support centralization but the rest will remain in the world of decentralized cryptos. It will be a competitive market that's for sure but I doubt any side will be eliminated. They target different groups of people.

[Dudeperfect]

I am surprised because the central authorities are going to use blockchain like technologies which are purely based on the principle of decentralization and if they are using it then they are killing the core principle of the whole system. It will definitely help them to improve the performance and optimise the process but in that case, it won't be a true decentralisation and decentralisation at all in the whole system. Thus, I don't think that it will affect the real decentralized networks like in Bitcoin or other cryptocurrencies.

[dewi91]

I think if that happen there is no effect on crypto currency market, but I don't think the central bank will release crypto currency because crypto currency is decentralization, it's difficult to central bank to control their crypto currency.

[gentlemand]

It would make the case for BTC 10 times more compelling. A currency directly controlled by the central bank would be an Orwellian nightmare. They'd have absolute control over every aspect of everything. The current setup can be influenced but it's a ragged mess of companies and routes. With their own crypto they could do anything with the press of their big red button.

[coolcoinz]

It would make the case for BTC 10 times more compelling. A currency directly controlled by the central bank would be an Orwellian nightmare. They'd have absolute control over every aspect of everything. The current setup can be influenced but it's a ragged mess of companies and routes. With their own crypto they could do anything with the press of their big red button.

That is only if their coin gained enough attention to be used by the majority. We have to remember that they can't make people switch from their legacy fiat accounts to cryptocurrency. Their only way would be to offer this as an option and since this is a novelty not many would decide to switch.
Young people who are already investing in decentralized currency would probably stay away from it or invest some money to differentiate. I just don't see everybody dumping cryptocurrencies and fiat money to get into a bank controlled centralized coin like bit-euro.

[jona]

They will want to impose individuals to their cryptocurrency and base more of their transactions on their cryptocurrency  and place it with high taxes on investors,they can go to extra miles to achieve their goals.