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Author Topic: Government-issued cryptocurrencies...Are they the Future?  (Read 553 times)
Argoo
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September 27, 2019, 05:12:43 AM
 #81

This is not to say that cryptocurrencies issued by the government are the future of these cryptocurrencies. Such cryptocurrencies, as a rule, are stable coins and will simply occupy their niche among all cryptocurrencies. Government cryptocurrencies and decentralized cryptocurrencies are completely different types of cryptocurrencies, however, apparently, all of them will find their place in our lives. The requests of people are different. National currencies in digital form will also be in demand, as they provide users with additional convenience compared to conventional currencies.

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studio1one
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September 27, 2019, 05:21:39 AM
 #82

TBH as long as they stop putting a blanket ban on all other cryptocurrencies I am happy with whatever they decide to do with their county-owned crypto.

And yes I do think that government-issued cryptocurrencies will be the future because it will save them $.

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Abiky (OP)
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September 28, 2019, 01:29:43 AM
 #83

It's up to the government if they will adopt cryptocurrencies. If they will, citizens won't have any choice but to adopt also. There's a possibility it can be the future if they will continue it. Since they can still regulate it and I think centralized crypto currency will give them more power to control over their people and the flow of their money.

That's certainly true, mate. Everything will depend on the collaboration from both people and governments worldwide, for a digital Fiat currency to function as intended. The process will be a rather slow one than usual, since there are many people that are still accustomed towards using physical cash in their daily lives. Governments would need to introduce their digital currencies in a slow and steady pace, in order to attract people into the new economy. Only then, physical cash will cease to exist in its entirety as our economy will live within the digital realm.

Given how Blockchain technology has gathered the attention of central banks and governments worldwide, it's likely that government-issued cryptocurrencies are the future. No one knows yet what will happen by then, since Blockchain is still not mature enough for mainstream use. As time goes by, the technology will improve to a point where scalability and privacy limitations will be no more. Only then, governments can use this system in its entirety to transform traditional finance as we know it. But as I've said earlier, this will take some time before it becomes fully implemented. In the meantime, we should enjoy decentralized cryptocurrencies as much as we can since they're prone to become extremely valuable in the future once Blockchain awareness spreads wide enough among people worldwide. Just my thoughts Grin

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