United Kingdom’s National Cryptocurrency Ready to be Launched in 2018

[Pleione527]

This is good to know that some countries are now startinh to adopt digital currencies which I also thinks will help to market bitcoins and all other alts but somehow I feel worried about the idea that if a a certain coutries will be having their own national crypto currencies chances are bitcoin will be restricted unless declaration of bitcoin as a global currency will be made

[btcprospecter]

It will be interesting to see where crypto currencies go with countries and governments starting to create their own form of block chain. Personally I cant see any real benefits from banks adopting their own tokens as they will not be any real difference between them and fiat in a digital form.

[1Referee]

This is good to know that some countries are now startinh to adopt digital currencies which I also thinks will help to market bitcoins and all other alts but somehow I feel worried about the idea that if a a certain coutries will be having their own national crypto currencies chances are bitcoin will be restricted unless declaration of bitcoin as a global currency will be made

State issued digital currencies won't do anything for our current crypto market. Governments just try to upgrade their current ancient financial system in the hope that people will choose them over our crypto currencies. It however won't happen. State issued digital currencies are more centralized than ever before, and they are still subject to all the negative aspects of this on debt based system. The only thing people gain from it is that they enjoy a higher level of convenience, but they pay a much higher price for it than ever before. Definitely not something I am looking forward to, and neither should others do. People should understand the danger of these state issued currencies, because it gives the government more control over your wealth than ever before.

[wxa7115]

This will be very strong news for the world community. Crypto-currencies will gain high popularity and there will again be a rise in price. I think that many countries will follow this example.

This is bad news, they're creating their own cryptocurrency and are going to promote its usage and since they've control of all the money and the media people are going to begin to use these fake coins, however, those coins will still have the same problems as their issued currencies, so bitcoin still has the chance to get more adopters but now it'll need to beat all the forms of their money they decide to print.

[BitChief]

This is good to know that some countries are now startinh to adopt digital currencies which I also thinks will help to market bitcoins and all other alts but somehow I feel worried about the idea that if a a certain coutries will be having their own national crypto currencies chances are bitcoin will be restricted unless declaration of bitcoin as a global currency will be made

State issued digital currencies won't do anything for our current crypto market. Governments just try to upgrade their current ancient financial system in the hope that people will choose them over our crypto currencies. It however won't happen. State issued digital currencies are more centralized than ever before, and they are still subject to all the negative aspects of this on debt based system. The only thing people gain from it is that they enjoy a higher level of convenience, but they pay a much higher price for it than ever before. Definitely not something I am looking forward to, and neither should others do. People should understand the danger of these state issued currencies, because it gives the government more control over your wealth than ever before.

Yay, now the government can have even more control over the supply of money. Lmao

[sirkings0003]

According to The Telegraph, the Bank of England could release a digital currency as early as 2018 that would be linked to the sterling. With this new virtual currency, the Bank of England would allow British citizens to keep their money in digital form with the central bank itself and to process big transactions in nanoseconds..

The possibility of issuing a national virtual currency has been in the bank’s plans for a long time. The bank aims to provide United Kingdom’s citizens with a virtual currency without the volatility of Bitcoin..

For Mr. Carney, the “most interesting application that would be beneficial for financial stability and efficiency”, would be using blockchain technology for settlements between different central banks. This test has demonstrated the viability and advantages of making payments between two central banks with blockchain technology..

Different countries and central banks are analysing the possibility of issuing virtual currencies. As we have reported, the Canadian Central Bank was studying this possibility with specialists in the field..

https://usethebitcoin.com/united-kingdoms-national-cryptocurrency-ready-launched-2018/

With this i think the bitcoin protestants are gradually and systematically joining the cryptocurrency world. Whether they do this through the back door and front door, the truth remains that crypto has come to stay.

[wxa7115]

This is good to know that some countries are now startinh to adopt digital currencies which I also thinks will help to market bitcoins and all other alts but somehow I feel worried about the idea that if a a certain coutries will be having their own national crypto currencies chances are bitcoin will be restricted unless declaration of bitcoin as a global currency will be made

State issued digital currencies won't do anything for our current crypto market. Governments just try to upgrade their current ancient financial system in the hope that people will choose them over our crypto currencies. It however won't happen. State issued digital currencies are more centralized than ever before, and they are still subject to all the negative aspects of this on debt based system. The only thing people gain from it is that they enjoy a higher level of convenience, but they pay a much higher price for it than ever before. Definitely not something I am looking forward to, and neither should others do. People should understand the danger of these state issued currencies, because it gives the government more control over your wealth than ever before.

I do think it'll have an effect, none of us which know the truth will be deceived by this, but believe me 99% of the world doesn't know how money really works so they'll be deceived and will use these coins as if they're part of this movement of money issued privately when they'll still be part of the fiat system, so coins like these have the chance of slowing down bitcoin and its adoption.

[tdrinker]

According to The Telegraph, the Bank of England could release a digital currency as early as 2018 that would be linked to the sterling. With this new virtual currency, the Bank of England would allow British citizens to keep their money in digital form with the central bank itself and to process big transactions in nanoseconds..

The possibility of issuing a national virtual currency has been in the bank’s plans for a long time. The bank aims to provide United Kingdom’s citizens with a virtual currency without the volatility of Bitcoin..

For Mr. Carney, the “most interesting application that would be beneficial for financial stability and efficiency”, would be using blockchain technology for settlements between different central banks. This test has demonstrated the viability and advantages of making payments between two central banks with blockchain technology..

Different countries and central banks are analysing the possibility of issuing virtual currencies. As we have reported, the Canadian Central Bank was studying this possibility with specialists in the field..

https://usethebitcoin.com/united-kingdoms-national-cryptocurrency-ready-launched-2018/

While I hope that this is true, being a UK citizen I cannot foresee our government being so progressive, we are not normally at the forefront of any kind of new standards such as this and I don't see that changing with this one.

[Shreek]

This will be very strong news for the world community. Crypto-currencies will gain high popularity and there will again be a rise in price. I think that many countries will follow this example.

yes, I agree with you. the crypto world will get bigger in the eyes of the world, and it seems fiat will weaken, unless the fiat should be able to maintain its reputation in the eyes of the world. and compete with crypto.

[yonjitsu]

That's a good move and a very good example of what UK is planning. I hope that countries around the world will reflect on this event and that somehow will embrace the cryptocurrency for good.

[hadveach]

wow,, very impressive, this will contribute well to the crypto world, it seems that in the future the crypto world will be a threat to the fiat currency.

[Memenya]

This will be very strong news for the world community. Crypto-currencies will gain high popularity and there will again be a rise in price. I think that many countries will follow this example.

Do you think that it will affect to other cryptocurrency price like bitcoin or maybe other altcoin? I dont think so.
Because at the first he said that tje united kingdom bank central launch this technology to prevent their citizens fall into bitcoin volatility. It mean the technology will get controlled by central bank. Sorry if i mistaken.

[tdrinker]

This will be very strong news for the world community. Crypto-currencies will gain high popularity and there will again be a rise in price. I think that many countries will follow this example.

Do you think that it will affect to other cryptocurrency price like bitcoin or maybe other altcoin? I dont think so.
Because at the first he said that tje united kingdom bank central launch this technology to prevent their citizens fall into bitcoin volatility. It mean the technology will get controlled by central bank. Sorry if i mistaken.

If any entity wants to be able to control the price then they need to be able to control the demand or the supply in some way. They said they want lower volatility and so they'll need influence of the price. The easiest way to do this is to have a direct control over supply like with traditional currencies.