Will governments create their own cryptocurrency that will replace fiat?

[Dragon5]

Governments which want to be seen to be fair are bound to adapt blockchain technology. What's more, governments can introduce crypto-yuan, crypto-whatever alongside with paper money just to catch up with modern tendencies.

[GREATLOVE]

This is not hard to happen since we know that government has the power to do this. Replacing the fiat or paper money or any coins or what so ever is not that really hard for them since our government too are always replace the old paper money to new one when there is already new President.

[MoneyCrafter]

It is most certainly that our world has become so attached to the internet and it became a very vital thing in our lifes, every thing we do we do it with internet, so it is not a surprise that we no longer use fiat money but instead we use cryptocurrency.

[stantpro]

Remember their was a time in the history of mankind when gold was money!
Today, gold stands at the reference to money.Paper or fiat money has taken over
the original money of mankind.I propose from your forecast that in the years ahead,
something must happen to paper money such that it becomes a reference as Gold.
Crypt currency at that time would become rampant and easier to transact with considering
it is decentralized and faster without borders.This is the singular reason every dick and tom
should subscribe and engage in crypto currency today.Thanks.

[Royal Script]

That depends on the country. We could not deny that there are countries who are against cryptocurrencies so they are excluded already. For countries who embraced crypto, that can be possible as we can set Ripple as an example.

[cr_liev]

I don't think so. Actually, I don't see the reason for governments to do so. There is a huge number of the cryptocurrencies, why create the new ones?

P.S.
I only suggest creating some tokens for using them in some national blockchain for governmental services where people could pay for these services with this "national crypto" token. But in my country we are still stucked in the paper processes and bureaucratism, so... too early for blockchains on the governmental level.

[toxic0n]

There is larger likelihood that various general assembly can acknowledge bitcoin as their benefit future and within the event that anybody not acknowledged then they'll build their own specific cryptanalytic cash since operating and utilizing of crypto square measure significantly speedier and fewer hard-to-please at that time paper money.

[ityandsyn]

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.

        Maybe they will create their own cryptocurrency but not to replace their own fiat money, because fiat was already established in every country and it's very hard to convince each and everyone.

[boondogger]

There is larger chance that varied legislative assembly can acknowledge bitcoin as their profit future and within the event that anybody not acknowledged then they'll create their own explicit scientific discipline cash since operating and utilizing of crypto area unit significantly speedier and fewer tightened at that time paper money.

[nasipadang]

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, the government already has a bank where your money can be stored in a savings card or can use a credit card, let alone the government seems to see bitcoin or cryptocurrency as a threat to fiat, we example china at china G20 meeting banned bitcoin therefore, the source of the article which I read.

[gua86402]

The government will issue its own digital encryption currency, but will not replace the current legal tender!

Unless some economies have collapsed, they are trying to revive jinrongzhi by issuing "oil COINS" and "gold COINS".

[ipanks]

The government will issue its own digital encryption currency, but will not replace the current legal tender!

Unless some economies have collapsed, they are trying to revive jinrongzhi by issuing "oil COINS" and "gold COINS".

I heard that in some country, they make a plan to create their own cryptocurrency and they said that this is not the same as the cryptocurrency. they do this just want to learn about what will people react so they can decide about the next step that they need to do. and with their power, I am sure that they can create their own crypto and they will say that their crypto is really good for the people and they will attract people to use their crypto.

[BLTC]

Oh, speculation on it's greatest. 100 years from now. Let see, I guess with the current acceptance and usability and efficiency of blockchain technology, government will going to utilize its function to run a lot transactions. Be it in banking and other sector of the agency. I guess that fiat will not be fully replace but a huge number of transaction will flow under cryptocurrency.

[jimbo77]

There is bigger shot that fluctuated administrative gathering can recognize bitcoin as their benefit future and inside the occasion that anyone not recognized then they'll make their own unequivocal logical teach money since working and using of crypto region unit essentially speedier and less fixed around then paper cash.

[deevan]

Yes, they may, as the blockchain technology is growing so fast and new cryptocurrencies are launched in the market frequently, so every Government may create their own cryptocurrency to replace their current fiat money but I think they will not create their coin on another blockchain e.g. ETH. Rather they will create their own blockchain to not depend on other coins blockchain. By creating their own blockchain they can monitor their citizen's coins, transactions, prevent money laundering by introducing KYC/AML like if any of their citizens create wallet they have to provide their National Identity card no. that will be linked with their public address. Or the Government will provide a public/private key of that wallet to their citizens themselves same as banks are going to provide pin/account no & card. In this way, the government will know that which address belongs to whom. It is just a matter of time on any country issue his own cryptocurrency the countries will follow it.

[Lexurdania]

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 it could happen. Government or central bank can make their own cryptocurrency like venezuela government did. Maybe bitcoin will be like investment instrument and become like commodity

[milah_ah]

It seems we’re hesitant to accept that cryptocurrency is quickly becoming a new kind of money.  I think nation states experimenting with national cryptocurrencies quite soon, however.

[iv4n]

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 it could happen. Government or central bank can make their own cryptocurrency like venezuela government did. Maybe bitcoin will be like investment instrument and become like commodity

It will happen faster, 100 years is too long period, until then people will invent something new, blockchain can be replaced with some newer and better technology.
Venezuela denied their involvement in making crypto, that was just a rumor. They wanted to back it up with oil I think, but that didn't passed. They can't do that yet, if some government do that it will be Switzerland. They will be the first country to go full crypto from all others. Its not just to change to full crypto or not, it will be hard to coordinate and synchronize one country that use crypto with others countries that use traditional system. There are so many problems that needs to be solved before everything, but Swiss is the country that is capable to so that, they are researching blockchain for years already and they when do something it will be huge you can bet on that.

[dpoisoner]

Cryptography is used to ensure the security and privacy of transactions, therefore I believe it is truly possible that it can be the money of the future.

[hao2067755834]

When the block chain technology develops to a certain level, I think this situation is likely to occur.

The government's digital cryptocurrency reduces the issue of paper money and protects the environment.

And the digital encrypted money circulation is more convenient and quick!