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Author Topic: Will governments create their own cryptocurrency that will replace fiat?  (Read 39084 times)
ipanks
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September 30, 2018, 05:57:24 AM
 #381

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?

We don't know that for sure because we are all dead on that time but for now there is no reason that every nation will create their own currency just to get rid of their own fiat currency but making their own currency as investment in order to make their fiat currency to become more strong is much possible.

100 years is too long to wait the governments create their cryptocurrency, and I think they will create in the next year (or they already created without we know?). They can create a new type of money, but the problem is they need to see how good their chance to change their money to the new type of money. But I think they can also use cryptocurrency to be used as a new payment system, and if this is happening, then it will make a big explosion in the cryptocurrency because all people will get involved in the cryptocurrency.
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October 01, 2018, 07:41:59 AM
 #382

Governments will not create their own cryptocurrency, because it is difficult to provide a common cryptocurrency rule for all countries as well as changing the value from fiat to cryptocurrency.

Countries are already working on their own cryptocurrencies. The process of their implementation will definitely take time for legal reasons, because they will be centralized. However, the complete replacement of fiat money will be difficult for a long time.
No I don’t agree with this. They can introduce such crypto which is if not the same as used in the international market, but it will no doubt usable in local markets. It is also good because people will transfer their money easily from one place to another without using banks. I think it is the need of the day that government introduces their own cryptocurrency. People want to use digital things then why not currency.
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October 01, 2018, 08:39:50 AM
 #383

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 is a bit to optimistic for me, till we get that level probably will will give up money and all other valuable stuff, something similar like Star Trek, sorry but i don't believe that government will agree to change in total the fiat currency with the altcoins.
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October 01, 2018, 08:50:50 AM
 #384

This certainly will not happen. Banks in the current countries can transact via the internet. Then why do they have to remove fiat to replace their own cryptocurrency? This is really expensive and unnecessary.
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October 01, 2018, 12:14:52 PM
 #385

Quite possibly such a scenario - every government wants to control the cash flow. However, when it reaches a giant scale - or another option - it will simply be banned. More advanced countries accept the first option, but for now, of course, it would be too early for a large number of countries to do so easily. Notice the crypto currency makes a quiet revolution and creates new ways of exchanging resources.

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October 01, 2018, 02:53:41 PM
 #386

I think it might happen because everyone can make their own cryptocurrency and can use cryptocurrency as one of the solutions to economic problems and transactions in their country.

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October 01, 2018, 05:24:35 PM
 #387

They don't need to make there own crypto Ripple did it for them already its already happening.

 
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October 01, 2018, 07:21:47 PM
 #388

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 don't thing the bureaucracy with which most government operates will allow them to create a digital currency that is fair and universally acceptable to all countries, but independent technologies that transcends these barriers while creating a borderless economy will definitely have the day. This i see in mfchain among projects heading for mass adoption. It will be a great experience to have the world currency driven by value.
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October 01, 2018, 08:04:04 PM
 #389

I feel Governments may decide to create their own Cryptocurrency in future truly which shall be regulated by them in one way or the other since development is getting rapid in the world of today and no country wants to lack behind. But I at the same time feel objected to that fact that this currency so innovated shall replace the existing fiat money because of the stiff volatility embedded, can only be at par to fiat is my own submission.

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October 01, 2018, 09:58:52 PM
 #390

As the technology is  upgrading  I think they will also consider  crypto currecy will   replace the  paper money  Wink for  as long as everybody will benefit for it and can be easily adopt   by their  constituent. Why not.
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October 02, 2018, 01:00:23 AM
 #391

In 100 years, I believe this is possible, as well. I am not sure about replacing fiat, maybe they will, but I could see them creating a cryptocurrency version of their own currencies, which I am not sure what it says about the general goal of cryptocurrency (or at least the crypto enthusiasts), which is to become a global currency. If each countries have different cryptocurrencies, do you not think that it will still be the same as fiat, only digitized?
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October 02, 2018, 01:04:18 AM
 #392

This obviously takes a fair amount of speculation since we have no idea what new technologies will develop. We can imagine that it would need to be a fairly flexible and secure platform like EVT which can be easily used for a variety of situations.
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October 02, 2018, 01:04:59 AM
 #393

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?
this is not new at all its happening already, the petrol in venezuela, rubles in russia, and some others will follow, there has been rumors that china, australia will follow, because they cant stop the revolution of monetary system they have no choice but ride with the train in the future...


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October 02, 2018, 01:21:01 AM
 #394

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?

We don't know that for sure because we are all dead on that time but for now there is no reason that every nation will create their own currency just to get rid of their own fiat currency but making their own currency as investment in order to make their fiat currency to become more strong is much possible.
Yeah there is no important reason to replace their local currency with foreign currency? and there is no important reason to make 2
currencies at once? yeah we don't know the condition of the next 100 years but for now it is impossible to implement
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October 02, 2018, 01:51:08 AM
 #395

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 wouldn't be surprised to see the government making their own cryptocurrencies to replace the fiat in the next century. Crypto offers many benefits and the governments are aware of that, hence will do everything possible to grab the power which comes with it.

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October 02, 2018, 02:01:33 AM
 #396

Well, if crypto currency become widespread, the governments will definitely get on that and create their own blockchain or even a dashboard of sorts to make it exclusively theirs. I'm it will be backed up by a country's GNP but ultimately people will see the changes in it. Now, i see blockchains backed up by Gold and precious stones.

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October 02, 2018, 02:04:38 AM
 #397

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 wouldn't be surprised to see the government making their own cryptocurrencies to replace the fiat in the next century. Crypto offers many benefits and the governments are aware of that, hence will do everything possible to grab the power which comes with it.
government could take many benefits if they create their own cryptocurrency.big fund from ico investors could used to provide public facilities in their country, without giving any loans to investors.

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October 02, 2018, 02:19:24 AM
 #398

Government will do that because as you can see that now they do a lot of reactions in terms of cryptocurrency so they expected if they create their own digital currency it may help them and also the country and in that next 100 years the whole world will use digital money as a fast and easy transaction so the government will not to try to steal the people's treasury. since people will know where to go all the money from the government.
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October 02, 2018, 03:14:30 AM
 #399

Will i think government will not gonna do that. Because fiat money is still more important than crypto today and if you notice there are lot of scamming news in crypto. Thata why i doubt that governement will replace fiat.
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October 02, 2018, 03:45:19 AM
 #400

I think it's quite possible, considering lots of government all over the world recognizing and allowing the use of cryptocurrencies in their market. Few countries such as Venezuela already trying to implement cryptocurrency in their economy. Even Marshall Islands adopting cryptocurrency as their own legal tender, although they have to identify themselves when they are using the cryptos.
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