Are countries now copying bitcoin to create their own digital currency ?

[zycrypto]

Seems countries are now meditating  in creating their own digital currency just like bitcoin which is now used by millions of people daily as a payment option and investment purposes.

Yesterday we reported on how Sweden is considering it’s digital currency because of the massive decline in usage of the bank notes by the citizens.

Now in a fresh article , japan is now reportedly considering its own digital currency which is said to be called J-Coin and is intended to streamline the financial ecosystem.

Read More=> https://zycrypto.com/countries-now-copying-bitcoin-create-digital-currency/

[OmegaStarScream]

Governments are controlled by the elite from the banking system. If they decide to create their own digital currency, bitcoin will remain useful as it is right now because of the simple fact that whatever they are going to create will be centralized, have higher fees, and definitely far from being anonymous otherwise how could they freeze your assets as they are doing now?

[bamboylee]

Countries will have very little benefits from having their own crypto. And it would be a complete opposite of bitcoin because it would be centralized so that government will still have control over it. I will still use bitcoin even if my country creates a crypto.

[kriticko29]

Yes they are because they can see the strength of this kind of currencies and they know that once they engage into this they can also control their economy

[lexamagic]

Yes, many countries are trying to create their own crypto currency, but I think that this venture will be useless, since new crypto-currencies will not be in demand.

[SocialClooud]

yes, I saw such companies in my country which is trying to do something same BTC. But nowdays as You see, it wasn't working very well.

[BitcoinHodler]

Seems countries are now meditating  in creating their own digital currency just like bitcoin which is now used by millions of people daily as a payment option and investment purposes.

it is not "now" you just created another article without studying first.
they have been talking about it for a very long time and they have also started working on it for nearly as long.
there are a couple of countries who have already released the name and some information about it also. like Indian Lakshmi coin.

all of them will have 1 thing in common: centralization.

[krauzzer02]

Some of the countries are planning to create their own crypto currency over their technology having the basic pattern of bitcoin, one of them is china, yes you heard it right, they are planning to create digital currency of their own.

[HashFace]

I could envision countries trying to emulate Bitcoin, but completely screwing it up.  They'd probably, for example, in the US make you register your name, address, and SS number, so that they can track you for tax purposes.  For mass adoption, they'd also likely need a massive fraud and error resolution department, similar to what Credit Companies have, with the ability to review and undo transactions as citizens file complaints.  They'd would also have to find a way to overcome long delays in transaction approvals while increasing the number of transactions to 10s of thousands, if not 100s of thousands, per second.  I mean, people are not going to tolerate standing in the checkout line for more than a few seconds waiting for the "approved" message.

 In other words, they'd have to make a crypto that functions like a credit card/debit card, and if that is the case, we might as well just keep credit/debit cards.

[jaocoincrypto18]

Seems countries are now meditating  in creating their own digital currency just like bitcoin which is now used by millions of people daily as a payment option and investment purposes.

Yesterday we reported on how Sweden is considering it’s digital currency because of the massive decline in usage of the bank notes by the citizens.

Now in a fresh article , japan is now reportedly considering its own digital currency which is said to be called J-Coin and is intended to streamline the financial ecosystem.

Read More=> https://zycrypto.com/countries-now-copying-bitcoin-create-digital-currency/

Copying bitcoin concept is better than trying to manipulate it by China and criticizing it by JP Morgan. I also heard that India too just declared their own new crypto currency this will prove how bitcoin really works to help the every nation who legalize it by following the bitcoin path in order to help their economy to grow. Another great achievement for bitcoin history.

[jerrison]

It is not out of the picture to say that nations are now copying bitcoin to creat their own digital currency.

[jerrison]

Ethereum is a very good example to cite in topics such as this. That the president of Russia invite the ethereum founder is only a confirmation that it will be adopted in less than no time and besides its other functions.

[Spaffin]

If we take into account that the national crypto currency of different states will be centralized and manageable, then its circulation, in all likelihood, will be mainly limited by the framework of this state. In this case, the Decentralized Crypto currency can compete in its popularity with a centralized national currency. Let people choose the advantages of one or another crypto currency.

[Hasbro27]

for now in my country still have not thought about to make crypto currency like bitcoin. they may think about it later, so most people in my country use bitcoin and altcoin.

[michkima]

Seems countries are now meditating  in creating their own digital currency just like bitcoin which is now used by millions of people daily as a payment option and investment purposes.

Yesterday we reported on how Sweden is considering it’s digital currency because of the massive decline in usage of the bank notes by the citizens.

Now in a fresh article , japan is now reportedly considering its own digital currency which is said to be called J-Coin and is intended to streamline the financial ecosystem.

Read More=> https://zycrypto.com/countries-now-copying-bitcoin-create-digital-currency/

Oh so this was a promotion for the website, but very well, it is still a good topic to discuss.

Anyway, I do not think they are copying bitcoins or anything. But I think the future will be digital, so will be money. Hence, the governments will find a solution to changing money into digital currencies. Maybe indeed a good way to do it is to create cryptocurrencies that would not only transform money but also will be secure. However, if this happens, hackers will likely want to hack this more than any other thing in the world as it will involve a lot of money.

[Baofeng]

Seems countries are now meditating  in creating their own digital currency just like bitcoin which is now used by millions of people daily as a payment option and investment purposes.

Yesterday we reported on how Sweden is considering it’s digital currency because of the massive decline in usage of the bank notes by the citizens.

Now in a fresh article , japan is now reportedly considering its own digital currency which is said to be called J-Coin and is intended to streamline the financial ecosystem.

Read More=> https://zycrypto.com/countries-now-copying-bitcoin-create-digital-currency/

I think they want to create their own digital currency not to rival bitcoin, but to see if this will be as successful as bitcoin. Cryptocurrency suddenly went crazy this year specially bitcoin and the government seeing this as a opportunity, contemplate on creating this own and see if it will be successful, bringing them more money. Its nothing more like bank notes of mutual funds they just recreate it in a different form. But then again, we haven't seen any country become successful with their own digital currency. Citizens wants the decentralized bitcoin, not something that is being control by the government.

[ArnoldChippy]

for now in my country still have not thought about to make crypto currency like bitcoin. they may think about it later, so most people in my country use bitcoin and altcoin.

I think some counties may be working on it. I have heard about India that their government are now working on to start their one crypto currency, but all such crypto currencies will only be duplicate and they cannot compete with bitcoin as bitcoin is a decentralize currency while the other crypto currencies or the states who are creating their own will be centralize and that is really a very big difference between the two.

[helars2008]

No one can prevent governments from using or creating their own cryptocurrency.  But i think it will totally be opposite with what is cryptocurrency right,  since we want it to be decentralized and distributed and this wont be the same as what government wanted because they will want it to be controlled by them. So in the end tbis will not be appreciated by those who already use cryptocurrency today.

[Pursuer]

Ethereum is a very good example to cite in topics such as this. That the president of Russia invite the ethereum founder is only a confirmation that it will be adopted in less than no time and besides its other functions.

Putin never had any more contact with Vitalik than he had with the rest of the people who were present there in that day. you are misinformed by a twisted news which ETH bag-holders love to spread. the fact is that Putin was just visiting and Vitalik explained who he was and what the hell he was doing, like the rest of the others who were there

It is not out of the picture to say that nations are now copying bitcoin to creat their own digital currency.

it is a little out of the picture because they have been doing it for a long time. and this is not news.

[Mpamaegbu]

Seems countries are now meditating  in creating their own digital currency just like bitcoin which is now used by millions of people daily as a payment option and investment purposes.

Yesterday we reported on how Sweden is considering it’s digital currency because of the massive decline in usage of the bank notes by the citizens.

Now in a fresh article , japan is now reportedly considering its own digital currency which is said to be called J-Coin and is intended to streamline the financial ecosystem.

Read More=> https://zycrypto.com/countries-now-copying-bitcoin-create-digital-currency/

Don't you know that success has many fathers, and failure a bastard? That is exca what is happening in the crypto space now. The Bitcoin module has proved to be a successful one and many countries and enterprises are keying into its adaption. It is a welcome development and will aid the government in controlling and getting its taxes. I really don't see this as an attempt to rival the Bitcoin, rather it is going to be a new way of advancing governance.