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Author Topic: Country's creating their own Crypto Currency  (Read 5153 times)
franky1
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January 10, 2017, 07:00:34 PM
 #101

I think the interesting one is Royal Mint Gold
http://www.royalmint.com/aboutus/news/the-royal-mint-and-cme-group-to-launch-royal-mint-gold
It appears to be a recognition by the UK government that existing fiat currencies may have a limited life, and that gold backed currencies may be the future. Using "digital gold" allows them to continue with fractional reserve banking without the bad associations with fiat money. At the moment it is not peer-to-peer, but no doubt developments in the future will rectify this.

I think this is such and interesting development that I registered English.Gold to build a site to discover what is going on. It's a bit early, so I have not found out much so far.

royal mint -> CME group -> hyperledger

im still shocked people are not hating on hyperledger as being the competitor to bitcoin.

is it simply that due to blind devotion of blockstream, that they cannot hate hyperledger because that means they have to finally fall on their own sword and hate blockstream too, knowing blockstreams involvement in hyperledger..

Listening to the podcast now - http://www.forbes.com/podcasts/unchained/#3a7d8e40389e - thanks to today's Forbes article What Is One Of The World's Largest Derivatives Exchanges Doing With Bitcoin?.

CME was researching bitcoin in 2012-2014. but has now got more involved in their own sidechain of hyperledger
see CME in the premier members list
and cough cough blockstream in the general members list
https://www.hyperledger.org/about/members

yea CME has a bitcoin price "ticker" (price calculator) but are not themselves running an exchange/trading bitcoin publicly.
so dont expect CME to go balls-deep into bitcoin activity.
their pricing ticker is just a gimmick to raise their own awareness.

they are however going full on in hyperledger,

the CME sidechain will probably be a branch off of the main hyperledger (the IMF SDR ledger)

imagine hyperleger as a tree stump (like the banks IMF) that branch off for countries combined funding. then each countries branch, branches off again into individual banks and financial services.
where each branch is a separate chain, with supply pegged to its parent and distributed to child sidechains (banks/financial companies)

CME wants to be the UK's main price pegging, like the royal mint controls uk's currency and international exchange rate in the current outdated fiat currency.

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January 10, 2017, 07:15:10 PM
 #102

As I know switzerland was creating their own swisscoin but don't know what is happening now. To my mind it's absolutely not need to have every country their own cryptocurrency because it means it will be manipulated by goverment and now isn't time to be moved on virtual cryptocurrencies. And as I know countries aren't going to creat their own cryptocurrencies, I haven't heard any news.

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asuryan180
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January 10, 2017, 09:07:01 PM
 #103

As I know switzerland was creating their own swisscoin but don't know what is happening now. To my mind it's absolutely not need to have every country their own cryptocurrency because it means it will be manipulated by goverment and now isn't time to be moved on virtual cryptocurrencies. And as I know countries aren't going to creat their own cryptocurrencies, I haven't heard any news.
The thing with that thing where countries create their own cryptos is that actually they are putting restrictions on those cryptos and that changes the whole concept of them.For example there may be made regualations about how they should be used and even taxes may be set up and that's what I really think is the reason that it is better for a crypto like BTC to be accepted and then we would really reap the benefits of the cryptos

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January 10, 2017, 09:12:16 PM
 #104

I think this project hasn't chances for success to a county makes it's own crypto currency. Many crypto currencies were created after bitcoin with wish to repeat it's success. But many of such projects are already faild. And I think the same future waits those "own" crypto.
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January 10, 2017, 09:41:43 PM
 #105

I think this project hasn't chances for success to a county makes it's own crypto currency. Many crypto currencies were created after bitcoin with wish to repeat it's success. But many of such projects are already faild. And I think the same future waits those "own" crypto.
Actually there are chances but as I stated earlier,it's not done correctly and the whole concept is going to the rubbish from there,because the cryptos aren't regulated and the countries want to take the concept from cash and put it in cryptos which isn't correct

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January 10, 2017, 09:47:58 PM
 #106

There are some small countries that have tried to make their own cryptocurrency. I don't know if they were successful or not. I think I heard that either Greenland or Iceland tried it.
These were the attempts of the people of these countries and the states do not have tried to start their own crypto currencies as they do not allow the use of crypto currency for their state affairs because their transactions are anonymous and it will be hard for them to control.

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January 10, 2017, 10:16:40 PM
 #107

I think this project hasn't chances for success to a county makes it's own crypto currency. Many crypto currencies were created after bitcoin with wish to repeat it's success. But many of such projects are already faild. And I think the same future waits those "own" crypto.

other alts failed because they have no utility. no merchant use and no niche market. even worse they are not available en-masse to the popular exchanges..

however hyperledger will be available to the fiat exchanges, because nasdaq, LSE will all be using a sidechain. and all sidechains of hyper ledger pegged to the IMF (root of the tree) and all the fiat 2.0 currency sidechains, commodity sidechains, business share sidechains will be the child branches of the exchange sidechain.

things like minimum wage laws and stock/commodity regulations will make them utilised by the banks/financial institutions using the hyperledger.

so dont treat hyperledger as just an altcoin. treat it as the FIAT threat that bitcoin was/has been against for the last 8 years

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January 13, 2017, 04:16:36 AM
 #108

Yes, recently, i saw Pak coin, it is also cryto currency of Pakistan, it is national crypto currency. But as you know, lack of information of all crypto currencies, So that's why only a few persons use it. So any country can create their own crypto currency, in this creating no problem, Problem is that, people can't trust on the time, and also have no awareness about their nation crypto currency, because everyone like to use world wild crypto currency, like bitcoin.   

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January 13, 2017, 05:18:54 AM
 #109

Several countries have initiated groups that 've been into research to initiate their own Blockchain technology. To my knowledge no country has planned of generating coins with features similar to bitcoin. Most have been in plans to create digital fiat based upon bitcoin's technology.

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January 13, 2017, 09:57:00 AM
 #110

No sane person can deny the many benefits of cryptocurrency compared to fiat, and certainly the government can’t deny them, either.
Cryptocurrencies can provide the same benefits as private companies’ electronic payment offers, with even less drawbacks...

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January 13, 2017, 10:23:28 AM
 #111

I think there are some countries
creating their own cryptocurrency
because they know that many people
are using this.

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January 13, 2017, 11:11:34 AM
 #112

I dont think they can implement it yet even if it will be successful. But that is a good question. I want to know some answers too. Not all can be known by just google right? Sometimes google is also hiding some things.

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January 13, 2017, 01:19:03 PM
 #113

I don't think the Philippines' e-peso is considered a crypto but it is being marketed like one with the goal being the "single electronic payment platform for all transactions in the country"..."Our E-Peso solution aims to address the problems associated with a cash-heavy society and shift the Philippines’ financial infrastructure to a sustainable one, promoting efficiency in financial transactions, transparency, and accountability in government finances and operations, as well as advancement in the financial inclusion landscape."  (http://e-peso.ph/about/)

Filipinos are tired of government officials' corrupt practices and so the e-peso is designed and will be used as a tool to curb corruption... "As part of the Philippine government's commitment under the Better Than Cash (BTC) alliance and to ensure transparency and efficiency in the use of public funds," (https://www.usaid.gov/philippines/partnership-growth-pfg/e-peso-activity)

I also read at coindesk that Mexico has Peso Digital as their blockchain-backed project (http://www.coindesk.com/philippines-government-consider-bitcoin-e-peso/)

There isn't news yet that can tell whether these projects failed or not -- maybe because they haven't started it yet or are still in the testing stage. One thing is for sure though, all government crypto projects will aim for traceability and control so they can watch your every expenditure and seize what they deem ought to be seized -- something that we involved in cryptos advocating pseudonymity will not support.

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January 17, 2017, 06:56:10 PM
 #114

I think it's possible that some head of the countries are planning to do something like this. It's really amazing that some people have tried and I guess failed because of the lack of originality I guess? But it's okay to copy it because it's open-source. It's just that, some things are already established and I hope they just apply it.
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January 17, 2017, 08:25:58 PM
 #115

These countries all lack the most important thing which is decentralization. Other than that its just digital fiat to replace failing paper fiat. It will help bitcoin by educating people about cryptocurrency.
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April 01, 2017, 04:45:43 PM
 #116

^Antarctica needs an epic airdrop! :-D

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April 02, 2017, 08:46:55 AM
 #117

Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
I think E-Dinar is of such kind and it belongs to UAE if im right.African countries like Tunisia,Senegal,Benin and Togo have also joined the list of countries which have their own crypto currency.
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April 07, 2017, 03:30:37 AM
 #118

Syria is going to be using TrumpCoin? ;-D lol

===>

https://c-cex.com/?p=trump-btc

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April 07, 2017, 05:56:51 AM
 #119

There is no point for Country to create their own crypto currency (digital ledgers) as they are already working with Bank. How will they hide they "secret activity" if everyone has assess to a digital ledger freely? Yes they can manipulate the "centralised" network, but then this will be very obvious proof showing they are trying to hide something- they will then work even harder try to cover these...

No, banks work for them and they are fine.

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