Will governments create their own cryptocurrency that will replace fiat?

[skyline247]

Of course! Governments want to control their people. They want to centralize everything and they will definitely create cryptocurrency for their own nations respectively.

[Malsetid]

Of course! Governments want to control their people. They want to centralize everything and they will definitely create cryptocurrency for their own nations respectively.

I don't think that will have a lot of support and following though since it goes against the nature of btc that people look for. Decentralized and beyond any government's control. I don't think any government would try that and it won't qualified as a cryptocurrency if ever.

[malikusama]

Yes it may happen because future is all about digital currencies, i think government will try to create their own digital currency which will be centralized and government will have a total control over it. Because government will never accept any decentralized currency as a national currency.

[hardforkcoin]

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 would think they will yes.

Unfortunately a lot of banks and big government and big BS will happen.... By BS I mean stuff like central banking and controlling the coins and all that crap. Likely wouldn't be open source either and they would have the right to censor and ban people from using it(which is scary!!)

[Humvee998]

I think it is inevitable fact, very soon major governments will have their own “cryptocurrency” simply due to its inherit utilitarian and security purposes.

People can easily exchange it without boarders plus that it cannot be double spent (anti-counterfeits)  They can monitor it and freeze if necessary. Forex will exchange government backed cryptos in addition to traditional fiats. 

We have to accept it that it is the future of currency and certainly governments will adopt or face being the dinosaur.

What interesting though or rather the question should be is what is gonna happen to bitcoin if that happens? For me I will choose the answer that it can be good for bitcoin, because by then people can easily buy bitcoin using government cryptos (no need for lengthy bank transfer or expensive credit card fees) and by then bitcoin will evolve to full blown digital gold and not as digital currency. Price will stabilize to an ever increasing up trend until it reaches its maximum supply. People will still speculate, manipulate, hedge like what it is now but the general trend is nothing but up because of its finite supply. This is bitcoin advantage over physical gold (gold seems to have an infinite supply).

I think we are going into this direction because government can get both worlds in doing so (taking the advantage of new technology while at the same time maintaining its control over its people).

To predict what the government will do, let us assume that we are the government and lets state what are we going to do. If I am the government I will do this:

1.   Ban bitcoin use as form of currency (medium of daily exchange); this is stablishing economic control
2.   Introduce government backed crypto currency (centralized); harnessing good benefit of the technology
3.   Introduce centralized wallet (aka Banks, ownership is verified); control over people
4.   Allow its exchange in forex and crypto-exchanges; freedom to its people
5.   Allow people to own bitcoin as form digital gold (not as currency) ; freedom to its people

In this sense I think bitcoin will prevail and here to stay……

[charmaine08]

That's a good thought actually, I've never been thinking about it tho, but I don't think so, even if they do, bitcoin will already be widely accepted in the world and it would be hard for that new currency to replace bitcoin or even LTC and they'd probably add the way to tax that currency since they can't, pretty much, do that with bitcoin... So  no.

 I don't think so that they can replaced fiat cause ever since that's we use in every day .

[ask]

Weak economy countries will start to release their cryptocurrencies soon.
This will survive their economy in long term but this will be a revoliton on world economics.

[superjeyy]

With regards to this matter, I think in the future governments will introduce new ideas on trade and commerce. This will include the new monetary system of each country. I think they will consider the idea of making their own cryptocurrency that can be used globally. But I think they will not set aside the use of fiat for it is the money that can be held physically by people. Because of the excellent features of bitcoin, maybe they will design those currencies like bitcoin if this thing will happen in the future.

I agree with groll. The government may be open to creating and establishing new systems, but will not fully disregard what most of us has been used to. Take into consideration fiat, yes the world is evolving with the usage of electronic money but let's not forget that not all of us has access to this kinds of platforms. Mass adaptation may take awhile but with proper implementation and assurance that all people are capable of accepting the changes with the system, then I think there's nothing wrong with the government establishing their own cryptocurrency.

[imamimam1234]

According to the article ( you can google it) .Many countries has been planned to make their own cryptocurrency. But I dont know whether to replace fiat or not. I think it's mandatory for their citizens maybe it would like a gold, limited quantity to raise their crypto value. CMIIW

[alexzorgo]

I think, the governments will surely create cryptocurrencies under control to them. Which will differ from bitcoin in at least two properties: not anonymity of transactions and centralized control. Master-nodes will belong to the government, the mining will be performed only by the licensed companies. It is inevitable, and the bitcoin should compete with the state cryptocurrencies.

[Rajatruck]

I think so if crypto currency is really the future, the government will not leave that out of their control

[z38630610]

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.

[Ayiranorea]

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.

[tdrinker]

Eventually currencies will inevitably all be digital and there's a good chance this could be in the form of cryptocurrencies. Governments would love to have all transactions be digital and traced as it would make taxation so so easy.

[hynext]

I think government will create cryptocurrency but not to replace fiat. Because fiat is not easy to replace. Government will develop their own crypto to swap with bitcoin but not to replace fiat money.

[marsmyname]

Eventually currencies will inevitably all be digital and there's a good chance this could be in the form of cryptocurrencies. Governments would love to have all transactions be digital and traced as it would make taxation so so easy.

That is true and that is against the spirit of crypto currencies. It will actually kill the meaning of crypto coins, the true reason of their existence. Bitcoin was made to free us from the control of government and taxation. you are very right about one thing, governments are going to enjoy digital currencies as far as the system will work under their control and honestly, this is going to happen in future.

[azguard]

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.

[hartonosusilo]

I don't think the goverments will because cryptocurrency are those currencies have a basic feature, that is anonymous, but the goverments are not anonymous but i think they can't do that anyway.

[NJB18]

It is very possible that governments will make their own versions of crypto but centralized versions. Tangible currencies will never be replaced as it is still important in places where signals is slow or none at all especially in remote towns.

[surix]

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?