india may launch its own cryptocurrency - "lakshmi"

[numiv]

It has nothing to do with governments wanting to have their own currency, but some important people trying to make a profit. This will not affect bitcoin, not in the long term. But it shows that there's a growing interest.

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[CrypticSatu]

If governments make their own crypto, Im guessing they will make them unlimited. We allready have one such coin, Doge. Its value is not very high.

[MONSUN]

Such country specific particularly developing one are coming up with their own CC.. I think that wont succeed , recently India disowned its own currency n launched new one.. who can assure they wont do with their to be CC ?

[yillusion]

i heard that China is also launch its own cryptos, maybe the ambitious country all have their own development of cryptos, but i cant see the future except the the executive order forced the promotion

[elson]

Japan said in a few days ago to launch its own encrypted currency, but it seems just that will be launched without a fixed date, so this argument is unreliable

[MONSUN]

Instead working from scratch they should adopt doge or Digicoin

[Shekspi]

That is a very good idea -one country-one crypto. And on the top level -BTC

[Decentralix]

Bring it on, I'll buy some Bhang with Lakshmi

Seriously though crypto is now truly getting started in the mainstream

Way earlier than I anticipated!

[covfefe_]

Governments are still unsure what to do with cryptocurrencies. Cryptos will destroy the traditional payment system and it would be difficult for the government to tax it and control the flow of currency. But the crypto tech is coming unstoppable.

[joseafonso123az]

Even if several countries create their own cryptocurrencies, unless they ban BTC, I believe BTC will continue having the value that it has, simly because it is the 1st cryptocurrency, and by now, adopted by many users. Maybe until they create their coins, there will be more users of BTC, thus making BTC more valuable.
For the part of adopting a crypto besides their own fiat, that yes, would be interesting as I believe both the coins will have their use, and would sustain better the financial system of the countries!

[abcd7]

cant see the reason to launch his own currency from the time that is in the list of poorest counties in the world
https://www.gfmag.com/global-data/economic-data/the-poorest-countries-in-the-world?page=12

[trickyriky]

To my opinion we can discuss about national cryptocurrency very soon. The trend in the development of cryptocurrencies sphere allows to do such analysis.
Many countries saying that they will create new country crytpo currency. Anyway still all this just talkings.

[cryptohome]

Just read that a few months ago, and felt really good, by then everyone would be aware of crypto currency and bitcoin. Hope by then it wouldn't be too late. Most of them would be kicking for missing the train 

[HasHe]

Indian government is totally confused in deciding about bitcoin.At first,when the indian police caught five youths in the capital city using drugs and found to have bought it with bitcoins,the government discussed to declare bitcoin a illegal.Then a sudden U-turn and formed committee for giving recommendations to legalize digital currencies.

And now,it has decided to launch its own crypto currency "Lakshmi".

It seems that after severe economic crisis due to demonitization and very high GST tax announcement,the indian government is just trying to divert the attention of the people.

[bitctrimor1]

It looks like quite a few countries and banks are planning to launch their own cryptocurrencies. It is indeed a very interesting development.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.

Countries and banks just try to get in on the profit. If they see what bitcoin did in a couple of years, you can't blame them for trying to get a piece of the cake. However like with fiat money it's so stupid that if you go abroad you need to exchange your money for foreign currency. What bitcoin can do is making 1 universal coin for all countries. Hope this new trend is soon to be taken down and bitcoin will rise as the sole contender.

I think the introduction of their own cryptocurrency stems out from the fact that bitcoin had been a success. However, right now, unless they would ban bitcoins and altcoins alike in their country and require their own to be used, it would be their only way to jump-start the recognition of their own cryptocurrency in the market. I think India have seen the potential of bitcoins and wants to capitalize on it by way of introducing their own.