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Author Topic: Government digital currency!  (Read 3788 times)
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December 16, 2016, 07:52:23 AM
 #1

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?
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December 16, 2016, 08:07:35 AM
 #2

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

Well people from denmark would be most benefitable people from the world in future days. However I wish my country's government should adopt bitcoin as soon as possible. If that happen, I will be so happy because my business is like that.
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December 16, 2016, 08:10:36 AM
 #3

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?
Its not really surprising for me that a certain government would create their own digital currency which I expected already since technology is developing fast and now it really happens but I doubt if they could able to implement that easily since creating a crypto for the whole nation isn't easy and it would really takes time for people to get used to it specially to those people who don't have enough knowledge on technology.
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December 16, 2016, 08:14:54 AM
 #4

Interesting, good move for denmark I am just waiting now for the EU to issue their digital currency which is bound to happen before we see all the EU countries with their own.



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December 16, 2016, 08:15:44 AM
 #5

It is great to see this, though what they are creating is just another altcoin and will do nothing to bitcoin's price (or even decreases due to people dumping BTC to buy that altcoin)...

And when they need, they can modify the source code and add supply to the coin (aka printing money). A major altcoin, dogecoin, have did this to make the total supply from 100 billion to infinite coins. Not surprised to see if a government is going to do that.

Goodbye bitcoin!
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December 16, 2016, 08:28:42 AM
 #6

Denmark is a somewhat small, intelligent and developed country so it is not a surprise, that they think about something like this. It would be really interesting to see in detail how they want to achieve that since you have to do it right or it could end up in a disaster and put all other projects like this on ice for a long time. Still not sure if this would be good for Bitcoin.   

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December 16, 2016, 08:38:09 AM
 #7

It's pretty much natural progression and we will see more and more of this. Im wondering how they will "secure" that network and how it will be implemented. Introducing this digital currency should not affect BTC in any way, as that digital currency is same as cash (regulated from Denmark goverment etc.) and its primary function will be as backup and replacement to Danish currency. I dont really see ppl selling BTC to buy it more than ppl selling BTC to buy Danish standard currency. Those that will buy ekrone would be buying normal one one way or another so no loss for us.

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December 16, 2016, 08:46:47 AM
 #8

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

It is really nice to hear that small country are starting to implement the latest technology in their country and now they are realizing the worth of digitizing their country, but making national currency will be more difficulty, instead of this they should have legalize it and made it as an asset taxable that would have made more benefit for denmark financial status.

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December 16, 2016, 08:56:16 AM
 #9

I think this is a good news for all bitcoin users, especially users of bitcoin in denrmark. Because with the government of dernmark adopting bitcoin, and if it goes smoothly. Then all countries will begin to dare to adopt bitcoin. Thank you
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December 16, 2016, 09:07:14 AM
 #10

Although the direction their looking to go at is promising, it's certainly has it's own flaws. There's still the issue of making e-krone traceable in a way of giving it some serial numbers while looking to giving freedom and privacy, meaning what they want to do from one end, does conflict the other end. Overall it would be a good reserve currency, as long as they don't overdue some aspects in which in most cases they tend to do because of having controls one way or another.
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December 16, 2016, 09:12:26 AM
 #11

Digitalization is getting prioritized in many countries on the same base of converting the present fiat to digital form. One amongst which is gonna get its digital currency is Korea. The coin comes to world wide investors by February 2017 and named as boscoin.

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December 16, 2016, 09:46:44 AM
 #12

Seem that more and more countries are involved in digital currency sphere. We have Iceland, Sweden is developing also there own now Denmark also we have Korea and Japan. Do we see next year as starting point of creating much more of this.




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December 16, 2016, 09:57:43 AM
 #13

A digital currency minted and regulated by the government is just another form of the fiat currency. How is it going to be any different from other digital forms of payment, such as Paypal, Skrill, Payza, and Payoneer?

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December 16, 2016, 11:05:43 AM
 #14

A digital currency minted and regulated by the government is just another form of the fiat currency. How is it going to be any different from other digital forms of payment, such as Paypal, Skrill, Payza, and Payoneer?

They what the advantage of bitcoin technology with they own digital currency and not to be left behind. I think for any government that will be more convenient to reduce the fiat currency in circulation and save money at the same time. Furthermore, for the people that will be the same thing as any regular fiat currency with inflation, centralized and losing purchasing power every year.
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December 16, 2016, 11:18:07 AM
 #15

if government want to remove black money problem and curruption issue than governments have to develop their own Digital currency. But it will be interesting to see when it will happen.

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December 16, 2016, 11:23:17 AM
 #16

its not new
its not related to bitcoin

its just a more efficient way for the bank to manage and secure its CLOSED network.

dont expect customers to mine it or see the transparency of it.
infact it wont change much for customers in the way they do banking.
its not exciting for citizens.

its all just behind the scenes stuff.

dansmark bank has been talking about it since last year


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December 16, 2016, 11:39:18 AM
 #17

its not new
its not related to bitcoin

its just a more efficient way for the bank to manage and secure its CLOSED network.

dont expect customers to mine it or see the transparency of it.
infact it wont change much for customers in the way they do banking.
its not exciting for citizens.

its all just behind the scenes stuff.

dansmark bank has been talking about it since last year


It seems like an old stuff franky and what about the other was doing by the other countries also not related with bitcoin? Canada? IMO, it will be related into bitcoin for un-directly.


So totally just the improvement by the denmark banking system.

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December 16, 2016, 11:46:00 AM
 #18

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

Its good to see that countries are adopting to new methods but this is not even similar to Bitcoin not even close. Bitcoin is based on decentralisation and this is centralization, which is controlled and manipulated by the government. So they are making steps but in the wrong direction, simply say a old service packed into new package.

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Jet Cash
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December 16, 2016, 11:50:47 AM
 #19

All fiat currency is digital these days, well maybe not cash yet. The bank keeps a record of my account details in a computer ledger, and I can transfer funds in or out virtually immediately at no cost. The bank probably keeps a sequential transaction file for security and backup purposes. They've been doing this for years. Junking the ledgers, and calling the transaction file a blockchain would move them into the 21st century - or would it? Smiley

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December 16, 2016, 12:07:06 PM
 #20

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

i think its possible for denmark to create their own digital currency but the question is, how did people will be react for this, do they want to use their digital currency like they use bitcoin? because the government can not push their citizen to use their digital currency, its about people decision and they should realize this. i think digital currency is about freedom for every people so they have to make their own decision without interfere of the government.
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