Will governments create their own cryptocurrency that will replace fiat?

[Ayiranorea]

Governments won't come up with plans of creating their own cryptocurrencies for the transaction needs. Already they've got the fiat under their control and if there exist a cryptocurrency on the decentralized platform surely governments won't be having control over the same. With this majority of the governments around the world will continue sticking to the traditional fiat usage.

[Afnan_faizah]

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, government need money that they can control so create decentralized currency is very big mistake. The velocity of money will affect the country's economy so if government cannot control the number of money that spread in the market then it will become big trouble. I learn about it in my university.

[Bitcoinsummoner]

They should of already did it, but greed blinds them.

They should but maximum of the government did not made their own cryptocurrency and also maximum of those government does not have any plan to create their own cryptocurrency that will replace fiat.

[emmybd]

I don't think that any governments in the world would take such initiative in near future, as traditional financial system is so deeply-entrenched in our society that it can't be reversed so soon.

[joinfree]

I doubt governments would ever make the decision of creating their own cryptocurrencies because most of them are actually not in the support of the use of cryptocurrencies in the first place so how then would then even think of making their own cryptocurrencies.

[rijaljun]

I doubt governments would ever make the decision of creating their own cryptocurrencies because most of them are actually not in the support of the use of cryptocurrencies in the first place so how then would then even think of making their own cryptocurrencies.

Well, I think if a government want to create their own crypto currency, it's purely because they don't want to lose their income from their citizen. The government want to their people to use their native crypto currency for daily expense than to let people use Bitcoin which is owned by no country.

[goaldigger]

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?

So imagine this thing is happening now. All countries have their altcoin counterpart of their currency like dollar, pounds, peso etc. Does this replace bitcoin and become obsolete? No. Well in fact i think it can make bitcoin grow more. People will obviously have two coins in their wallet that time. Their local currency and bitcoin. Instead of converting into another currency, and affects exchange rates, they will go to bitcoin and use it as their transaction worldwide.

[Activitycoin]

I doubt governments would ever make the decision of creating their own cryptocurrencies because most of them are actually not in the support of the use of cryptocurrencies in the first place so how then would then even think of making their own cryptocurrencies.

Well, I think if a government want to create their own crypto currency, it's purely because they don't want to lose their income from their citizen. The government want to their people to use their native crypto currency for daily expense than to let people use Bitcoin which is owned by no country.

Yes surely government is being so greedy that they are not thinking about the nation and the people but they only want to grow and full their own treasures, but I think it is not easy task to make your own crypto currency and the most hard task it to make it grow and convince people to use it, as people should show lack of trust for new crypto currency, better use the invented and grown up crypto currency we have in market.

[LUCKMCFLY]

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 likely to happen, we must not rule out a possible union between nations that are affected by the uncontrolled impacts that the economy will have in the future and choose to take the blockchain technology in their favor, because they have to do it in order to back it up with liquidity of gold, precious stones among others.

If a project of this hierarchy occurs, you would have to review your whitepaper very well, analyze any development that you want to implement and what the effect may be in the Bitcoin speculative market, if it is a good project, people will start to join, because the community is the most difficult thing to achieve without being bots or traffic that is paid, the community itself can place the project at the top, and the community itself can make it fall.

You should always take into account that if you want to compete against bitcoin is very difficult, it would take many years for the currency to take an acceptable structure to apply the different theories that are made in the case of Stock Market and even for the same Bitcoin.

A currency made by several nations if it has an increasing value is at the same time dangerous, because when entering a decentralized market where any person as well as bitcoin have access, it would be at the expense of the Supply-Demand Law that always governs the markets, can that has a positive or negative impact, which would serve much to have a good support at the level of liquidity that is what nations can offer as an advantage against Bitcoin. And even though all that would become a competition with Bitcoin it would be very difficult to replace the FIAT.

[Bezobraznike]

   No, I do not believe in that.
The government already gone on the road of cashless society. Online payments and different types of cards. I believe that this way of financial transactions will continue to develop to cover all nation.

[Netnox]

A cryptocurrency without decentralization is just a digital version of the fiat. And I don't think that creation of such a currency will serve any purpose, as we already have similar digital payment systems such as Visa, Mastercard, Paypal and Skrill. Cryptos such as BTC are separate currencies, while the digital payment systems such as PayPal are just digital versions of the existing fiat currencies.

[Bitcoinsummoner]

I don't think that any governments in the world would take such initiative in near future, as traditional financial system is so deeply-entrenched in our society that it can't be reversed so soon.

Who knows what will be in near future? Was there anyone who though USD would be the global currency. I dont think there was anyone who though USD will be the global currency but the reality is USD is global currency.

[bitcoin31]

Hard to say because money is part of our life and we need that everyday I don't know the process if the cryptocurrenxy will replace fiat. But if the government will create their own cryptocoin I will make sure that you that coin will become successful why? It's because the people will invest because we know government is powerful and many investors will trust to them..

[FlightyPouch]

I doubt governments would ever make the decision of creating their own cryptocurrencies because most of them are actually not in the support of the use of cryptocurrencies in the first place so how then would then even think of making their own cryptocurrencies.

Well, I think if a government want to create their own crypto currency, it's purely because they don't want to lose their income from their citizen. The government want to their people to use their native crypto currency for daily expense than to let people use Bitcoin which is owned by no country.

What do you mean that they will lose their income from their citizen? You know that people pay their taxes to the government right? Even if all of the people in a country starts to use crypto currency, the government can just legalize Bitcoin and make people pay taxes for it, that is not a problem. If the government will be creating a crypto currency, I don't know what they are thinking since that is just a waste of time.

[Snaic]

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, government need money that they can control so create decentralized currency is very big mistake. The velocity of money will affect the country's economy so if government cannot control the number of money that spread in the market then it will become big trouble. I learn about it in my university.

Yes, governments will always support their national money.
And they can have various forms - cash, non-cash, or their various combinations. Governments can also issue their own centralized cryptocurrency, which they can fully control and interact with their own money. However, even its own cryptocurrency is unlikely to ever replace cash. Maybe in three hundred years ...

[fianaindriati]

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?

all possibilities can occur without being able to ensure the development of good or bad developments no one can know but I am sure the development of the crypto currency will be needed in the times and economies of course

[fauzan Ichsan]

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?

all possibilities can occur without being able to ensure the development of good or bad developments no one can know but I am sure the development of the crypto currency will be needed in the times and economies of course

although this possibility can occur, logically it will not happen immediately. the government still needs cash, especially for developing countries, of course besides human resources, supporting facilities are also a problem

[Bitcoinsummoner]

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?

all possibilities can occur without being able to ensure the development of good or bad developments no one can know but I am sure the development of the crypto currency will be needed in the times and economies of course

although this possibility can occur, logically it will not happen immediately. the government still needs cash, especially for developing countries, of course besides human resources, supporting facilities are also a problem

Government may take action to make own decision or not but if it happen then it may happen for only on few countries and also that will not happen too fast. I mean if it still happen then it will take a long time.

[hxtop]

I think every state in the future will create its own digital currency. Although these currencies are similar to Bitcoin, they will not have the same features. The money of the states will surely remain central, and they will not have a decentralized currency such as Bitcoin.

[wxa7115]

I doubt governments would ever make the decision of creating their own cryptocurrencies because most of them are actually not in the support of the use of cryptocurrencies in the first place so how then would then even think of making their own cryptocurrencies.

Well, I think if a government want to create their own crypto currency, it's purely because they don't want to lose their income from their citizen. The government want to their people to use their native crypto currency for daily expense than to let people use Bitcoin which is owned by no country.

What do you mean that they will lose their income from their citizen? You know that people pay their taxes to the government right? Even if all of the people in a country starts to use crypto currency, the government can just legalize Bitcoin and make people pay taxes for it, that is not a problem. If the government will be creating a crypto currency, I don't know what they are thinking since that is just a waste of time.

It is not difficult to understand what he means, how many of those that are earning money with cryptocurrencies are declaring that income to the governments of the world? A minority I suppose, and if the use of cryptocurrencies becomes widespread you can be sure that the amount of people that will pay their taxes will go down even more and governments will find themselves in huge problems when they are even struggling now to pay their debts.

Cryptocurrencies could be a great way to force governments to become fiscal responsible once again and to diminish their size, but for that to happen we need crypto to be adopted all over the world, something that will not be easy.