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Author Topic: Are there governments that are utilizing the technology of Blockchain & Bitcoin?  (Read 161 times)
Shasha80
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December 12, 2020, 02:37:15 AM
 #21

To legalize bitcoin is not a simple task for the government, as there are some significant hurdles that need to be overcome because
they often use cryptocurrencies for illicit purposes and are highly volatile. So it is very difficult to gain a legitimate reputation
in the eyes of financial regulators and government entities. Another problem is that for the government, in terms of its own economy,
Bitcoin is not suitable to be a currency. It relates this to the fact that Bitcoin supply limited. In contrast to paper money,
the government can print again and can monitor such activities. Currently, for many countries, bitcoin may only be an asset for investment.

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December 12, 2020, 11:31:08 AM
 #22

In connection with the popularization of cryptocurrency, yes, many countries work with blockchain technology and create their own cryptocurrencies, since everyone understands perfectly well what the future is behind digital assets and, accordingly, invest large funds in the development of these technologies

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December 12, 2020, 11:48:27 AM
 #23

It's likely that the governments don't understand blockchain and cryptocurrencies and benefits of using them. Bitcoin is often considered as something illegal, part of the shadow economy.

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December 12, 2020, 02:12:22 PM
 #24

If you look at the activities of your government, as well as the decisions they make, then unequivocally conclude that they will never have plans to introduce something innovative, especially if these innovations will bring certain difficulties for a certain government activity, with which they cannot handle. Today, due to the pandemic, the economies of all countries are suffering very much and the government has not found any other way to solve the problem, how to increase the money supply of the national currency. If Bitcoin was used, then they could not do this. At the same time, with the help of blockchain, people would have real control over state finances.
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