Will governments create their own cryptocurrency that will replace fiat?

[Feuerbach]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

No, the state cryptocurrency will not be the same as the traditional one. It will not be anonymous - it's 100%. If you look at the options that are currently being considered by the government of one country - their version of the token can not be mined. On it there will be a zero demand (to consider seriously only idiots and hamsters) and there will be a problem with zarobotkom on it. That is complete nonsense!

[tbterryboy]

Only one country if I recall that wanted to do this was Sweden with E-Crown coin that was with good idea but bad team back 2-3 years ago. Sweden is country that use most of the time payment card and rarely real cash in every day trade.

Considering how that turn out in the end dont think that any more countries will ever try this.

Maybe that will happen when all blocks in Bitcoin has been mined. But if a government is going to create a Crypto currency, I don’t think they will make any success in it, and the coin won’t achieve much because it is likely to be centralized and not decentralized like Bitcoin. By the way, any cryptocurrency created by the government won’t be for the reason to relinquish its conventional currency. The main currency will still be there, and cryptocurrency will still be the main purpose it was meant to be– Investment.

But, I think it’s time we stop talking about things that are going to happen in 100 years time and focus on our generation. Thank you.

[Singwala]

Because of the constantly increasing Bitcoins definitely many banks to hurt it. Because banks will lose investors because they are moving to bitcoins. And the government can not stop it, so banks will think of other ways to get their investors back. So this is what banks do, they themselves make coins.

[boboking]

I don't see a point: they have all the banks to digitalize the official fiat money, and they are centralized so perfectly under control. What is the reason to create another token to confuse people?

Exactly, FIAT money can be simply digitalized. It is happening today, If you visit China almost all people have their E-wallet. Retailers accept Digital Yuan. All of my bill are paid via E-banking. It is possible to make BTC or a cryptocurrency as a legitimate currency in a country but making it the official currency i do not think it will happen.

[Fatunad]

I don't see a point: they have all the banks to digitalize the official fiat money, and they are centralized so perfectly under control. What is the reason to create another token to confuse people?

Exactly, FIAT money can be simply digitalized. It is happening today, If you visit China almost all people have their E-wallet. Retailers accept Digital Yuan. All of my bill are paid via E-banking. It is possible to make BTC or a cryptocurrency as a legitimate currency in a country but making it the official currency i do not think it will happen.

For BTC then it would happen since its uncontrollable unlike on E-currency which being converted from their own local fiat then its possible. They can really make this thing happen if they do like to switch to e-currency which i do beleive it would be rather be used than on bitcoin itself.People will always use on those things who are being backed by the government which means replacing it would really be an impossible thing. If government wont able to ban or stop bitcoin they would instead make their own.

[lordquanta]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

Government creating their crypto currencies is already happening and many economists are thinking in that way. Maintaining and creating the fiat cash is not easy from cost management perspective. At this stage, as pioneer project a blockchain based economic transactions are being tried or evaluated in some countries. Countries like India where one of it major bank is attempting this along with other private sector players. Thus once this project succeeds the day is not long when we could see govt using their own crypto for transactions.

[Fretcy]

There are high chances for the governments to create their own crypto currencies as they are interested in the bitcoin technology but as it is a decentralized network the government will not be able to control bitcoin network which is one of the reasons that the Governments will use the same technology to start a new crypto currency which will be centralized and as the world is moving to a more digitized form there are high chances for the Governments all over the world to accept this bitcoin technology.

[Snub]

if it is profitable, then surely they will create their virtual currency...considering the available technologies and the rhythm of life, most likely this will happen

[llyfee4u]

I think there is a great chance of this happening.  I am convinced that states, governments and corporations are probably looking into ways of doing something of this kind already.  The market cap of Bitcoin and alts is simply too high for them to ignore.  One way of getting into crypto will be for governments to issue their own crypto's, the issue of course is that it will be a centralized system. 

[Reid]

I don't see a point: they have all the banks to digitalize the official fiat money, and they are centralized so perfectly under control. What is the reason to create another token to confuse people?

Exactly, FIAT money can be simply digitalized. It is happening today, If you visit China almost all people have their E-wallet. Retailers accept Digital Yuan. All of my bill are paid via E-banking. It is possible to make BTC or a cryptocurrency as a legitimate currency in a country but making it the official currency i do not think it will happen.

Very true.
They have the power to do that because they have the control in their country specially one in China where the government system is so strict and they dont want anything to do sharing it or being part of other cryptos.
Why is that? Their people are making it like an escape route to avoid taxes. They sought that.
Bitcoin might be cool for free people but not to them.

[bearexin]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

No, the state cryptocurrency will not be the same as the traditional one. It will not be anonymous - it's 100%. If you look at the options that are currently being considered by the government of one country - their version of the token can not be mined. On it there will be a zero demand (to consider seriously only idiots and hamsters) and there will be a problem with zarobotkom on it. That is complete nonsense!

Creating new coin of respective region is not a good idea when we have bitcoin there is no need of it, new crypto coin will be same like cash money it will be used only in that region it will not be recognized out of boundary and seeing this limitation is the clear flaw in this idea keep the flow moving rely on the bitcoin because it has some strong power to give huge business to the region and the earning capacity will be increased.

[queenhallmark]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

It may happen in the future. You know that many governments work on how they use bitcoin for their benefits. 100 years are very long term. I think in the next 50 years some of countries will start creating their own cryptocurrencies. Paper money will be lose its value.

There is more possibility that many government will accept bitcoin as their currency in future and if anyone not accepted then they will create their own crypto currency because working and using of crypto are much faster and easier then paper money.

[Derrick]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

It may happen in the future. You know that many governments work on how they use bitcoin for their benefits. 100 years are very long term. I think in the next 50 years some of countries will start creating their own cryptocurrencies. Paper money will be lose its value.

I'm not sure how this is going to happen in the reality, because at present few countries that have created their own cryptocurrency have the paper money in use. So cryptocurrency will be generated by the governments for the ease of usage without destroying paper money.

There is greater probability that numerous legislature will acknowledge bitcoin as their cash in future and in the event that anybody not acknowledged then they will make their own particular cryptographic money since working and utilizing of crypto are considerably speedier and less demanding at that point paper cash.

[markk94]

i thought so, because goverment like to used the thing that they could track and control. with the power is on their side, everything could be controlled and safe. so many point of perspective that you could try to see. this is mine.

[doraegun]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

I think no, because only PRIVATE SECTOR have capability to do like BITCOIN all of generating income of government is only coming from their constituents coming from the people who have business and automatically deducted from their taxable Items and groceries, how they gonna do like  this? 21million bitcoin  starting fund without reimbursement. where did they get the fund? coming from people? that's Illegal transaction

[samycoin]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

I think it will happen because yearly lots of people move to modernize world and lot of things will be change in the future, but if they do that theres a lot of  things to discuss to settle their own digital currency.

[Dragon5]

Eventually, governments which want to be seen to be fair will accept blockchain technology. It is possible that they will create crypto-yuan or crypto-anything. Why not? Cryptocurrency can also be integrated in modern financial systems.

[jayes]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

Maybe someday it will happen, but on my opinion cypto cant replace fiat because fiat is a symbol and represent its nation currency. And fiat also use for small transaction that doesnt need any electronic device to use for payment.

[BingoDog]

Honestly, this makes no sense to me. Why would governments who have strong and stable fiat currencies that support their economics replace them with unstable and unsecure cryptocurrencies?
Some of them have tried to develope their cryptocurrencies but those were poor unstable countries that don't have to lose anything anyway.
Some will many create their cryptocurrencies but as additional value not to replace fiat.

[dongyi17]

Well.. .. it can be...while the competition for crypto currency globally the government may come up a plan or idea of creating their own that will replace the fiat money. we never know this will only come if the condition arises or the situation that demand these things...so will become digital and the transaction will all be new system or process then.