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Author Topic: Will countries or central banks create their own cryptocurrency?  (Read 2730 times)
owlman
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August 31, 2018, 11:34:44 AM
 #401

As we can see at the moment, there are already examples of creating its own crypto currency in the country, as Venezuela created its state crypt currency called Petro. Perhaps in the future the number of countries and banks that will create their own crypto currency will increase, because the industry is developing rapidly.

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August 31, 2018, 12:45:13 PM
 #402


A few countries and central banks have been talking about “digital currency”, and most of them are carefully ignoring the term “crypto”. Fact is- digital currency is not the same as cryptocurrency. These countries/central banks are recognizing the benefits of the digital currency features of cryptocurrency, but they don’t want any of the decentralized uncertainties that come with blockchain-based currencies.
Will countries or central banks create their own cryptocurrency?


I think there is a big chance that that would happen, and also, many countries have been exploring that in the past years. China, for one, have already, based on what I have read released some coins in partnership with local companies. I think that's the reason why China has banned many bitcoins that originate from different countries because they are aiming to give their local coins, and probably, the coins that they are part of a jump start in order to gain value as they enter the market.


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Lady Coquet
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August 31, 2018, 01:54:16 PM
 #403


A few countries and central banks have been talking about “digital currency”, and most of them are carefully ignoring the term “crypto”. Fact is- digital currency is not the same as cryptocurrency. These countries/central banks are recognizing the benefits of the digital currency features of cryptocurrency, but they don’t want any of the decentralized uncertainties that come with blockchain-based currencies.
Will countries or central banks create their own cryptocurrency?

I think its is possible that countries and central banks will create their own cryptocurrency, but for now it is not because they also need to support and focus on their currency to improve the economy of their country.

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August 31, 2018, 01:57:57 PM
 #404

As we can see at the moment, there are already examples of creating its own crypto currency in the country, as Venezuela created its state crypt currency called Petro. Perhaps in the future the number of countries and banks that will create their own crypto currency will increase, because the industry is developing rapidly.


Cryptocurrencies that are created by local countries will not grow and the price will be depending on its developers so you should just invest on a token with decent reputation in the community.
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September 01, 2018, 12:49:47 AM
 #405

I don't think any country will create a fully public, P2P, blockchain-based cryptocurrency. Instead they will create currencies on blockchain platforms that are permissioned and that can be controlled.
Yes, I saw the news, and I heard that banks don't make cryptocurrency but only use blockchain , I also hope the central bank makes a good decision

Banks will never use cryptocurrency because it was a threat on their own business, they will lose their investors if people will focus on cryptocurrency since it was more profitable.

oh you are right the bank will not make cryptocurrency because it will cause bank money to be damaged and maybe the crypto bank price will fluctuate so the bank will never make cryptocurrency and only use blockchain as transaction records only
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September 01, 2018, 01:07:18 AM
 #406

Untuk mengkaji criptoccurency di bank sangat hati hati karena itu menyangkut keuangan bank tersebut karena kita tau Bank itu tidak bersifat pribadi.. kerja sama pelaku ekonomi belum tentu setuju jika menganut sistem criptoccurency tersebut.. untuk menjaga imeg di mata publik di perlukan pengkajian yg lebih mendalam.

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September 01, 2018, 01:12:59 AM
 #407

I already have seen some banks appearance in cryptocurrency and I think that it will be a step by step process for those big shots to join cryptocurrency. Banks in our country already approved the in and out of money through cryptocurrency.
All need a long process and time. for now most banks are still not ready to accept because of regulations imposed by the
government. when the government has changed the regulation to be legal, I'm sure banks and bitcoins can work together

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September 01, 2018, 10:44:06 AM
 #408

I personally don't think it will be a good idea for every bank to has it's own digital currency. In terms of the countries having its own digital currency, I will still have my reservations too. I would rather prefer the mass adoption of Bitcoin and other cryptocurrencies. Let the government support cryptocurrency and legalized. People should be free everywhere or any part of the world to use any cryptocurrency of their choice in transactions.


I can see clearly that in the future, and most likely will occur in time. But I don't know whether it's good or not because it will compete with other decentralized cryptocurrency.
I think banks will soon create their own cryptocurrency, especially if other countries legalize bitcoin which is what Russia has just announced.

Currently I never heard about it, but may be in future when the use of crypto currencies will increase too much then it may become possible, but I think that it will take a lot of time, in fact still most of the governments are not supporting crypto currencies.
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September 01, 2018, 10:50:16 AM
 #409

I think that many countries and their central banks will create their own digital currency. This will be done, firstly, in contrast to the decentralized crypto currency, in order to divert the attention of the population from it, and secondly, to use the opportunities and advantages of the crypto currency. Although it will already be a managed crypto currency, however, especially within the state, such a crypto currency can successfully go, because it will combine the digital possibilities of crypto currency and national money. Some countries already create such own types of crypto-currency, and even more express their intention to create it. In general, it will be good, as the population will be attracted to the crypto currency by the authority of the state and will be convinced of the advantages of decentralized crypto currency over centralized.
Which is exactly why they shouldn't start using cryptocurrencies. It will simply become an eye-opener to the people and once they have become familiar with cryptocurrencies, they are just going to move into using a different currency. It's like the government went through a lot of trouble just to end up giving their people a choice to be free from the government. Besides, the government already have their very own version of cryptocurrencies. It's the digital form of your fiat money which you can find on your bank account, credit card account, and Paypal account.

It seems to me that the only way for the government to prolong the process of mass adoption is to not say a thing about cryptocurrencies. They simply have to ignore it. In my country, bitcoin was actually once on the news. It actually just increased the population of the bitcoin users in my country as everyone wondered what is it about. And of course those who have researched enough were able to find out that bitcoin is not a scam, in contrary to what the news says. There were also viral articles that explains why cryptocurrencies aren't a scam. My fellow bitcoin users don't really mind these news because we know that we're making money from it and aren't scammed, in any way, so why be concerned of some video that was flashed to your television, right? Smiley


A few countries and central banks have been talking about “digital currency”, and most of them are carefully ignoring the term “crypto”. Fact is- digital currency is not the same as cryptocurrency. These countries/central banks are recognizing the benefits of the digital currency features of cryptocurrency, but they don’t want any of the decentralized uncertainties that come with blockchain-based currencies.
Will countries or central banks create their own cryptocurrency?

I think its is possible that countries and central banks will create their own cryptocurrency, but for now it is not because they also need to support and focus on their currency to improve the economy of their country.
I definitely agree. The major reason why countries wouldn't issue their own cryptocurrency is that there's a lot of major issues going on and a lot of problems that they have to fix. Simply put, the nation doesn't call the need to have their own cryptocurrency so why would they?

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September 01, 2018, 11:10:07 AM
 #410

Central banks are so centralized that they could not hide it ''Central Bank'' in their name. It is more favorable for the government of nations to have a centralized financial system than a decentralized economy because they use monetary policy tools to generate more money for lending. I doubt if countries or central banks can create their own cryptocurrency because the digital currency is already disrupting the financial sector. Centralized banks may not be able to relegate their system by issuing cryptocurrency, rather they will employ other blockchain technology that will facilitate their daily activities.

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September 01, 2018, 11:39:12 AM
 #411

not many countries decide on this. all the same, full control over all finances is their usual policy. crypto currency is not included in this framework

I think what you say is not wrong, but don't think they are fools, people like them (the government), certainly have a crypto strategy or version that is different in practice may be the crypto they market is not anonymous.
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September 01, 2018, 12:35:42 PM
 #412

I think it might happen, maybe the country or central bank will make their own crypto currency with the same symbols and exchange rates as their fiat currency. There are countries that have done that. I hope that actions taken by the country can help. boost the price of crypto currencies to skyrocket again

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September 01, 2018, 12:37:02 PM
 #413

Of course they will make their own crypto currency because they see that crypto currencies can compete with them and they want to compete also in crypto currencies by making it themselves, but maybe it will be a little difficult to compete because many altcoins are good in it.
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September 01, 2018, 12:47:31 PM
 #414

not many countries decide on this. all the same, full control over all finances is their usual policy. crypto currency is not included in this framework

I think what you say is not wrong, but don't think they are fools, people like them (the government), certainly have a crypto strategy or version that is different in practice may be the crypto they market is not anonymous.

That is obvious. Why would they create a cryptocurrency that they cannot control? That will be really funny if they do that since we are talking about the government here. Theh will be either not make a crypto currency that they cant control or make a crypto currency that they can fukly control and use that as their own fiat. The future is leaning there so that is not impossible.

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September 01, 2018, 01:12:57 PM
 #415

i think that banks will be forced to change their usual system, and introduce new technologies, or create their own crypto-currencies, in order to somehow compete with currencies such as bitcoin, which are already accepted by some countries.
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September 01, 2018, 01:16:39 PM
 #416

That is very possible that countries or central bank creates their own cryptocurrency, this is because if cryptocurrency wi be spreading around the globe so the possibility that they will go for it , because crypto might be popular than ever.
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September 01, 2018, 01:46:56 PM
 #417

If the development of cryptocurrencies increases and cannot be stopped it will certainly make all countries make their cryptocurrency, this is to ensure that they have made the appropriate coins they want.

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September 01, 2018, 03:38:28 PM
 #418

As I can remember, there is a country that tried to make their own digital currency. I do not know what really happened but I think that is not released. Countries will be making their own crypto currency since it is the future of money. In the future we can see digital currencies used by almost all of the people in the world not as an asset but as a common currency.
Well, I think that was true. I am looking forwad to used bitcoin as a common currency in the future. I do not think if many people will release their own crypto in their currenty, well upon checking we have rights. Its really great to know that someone will help you a dollar or yen. Hopefully in the future we bitcoin became a common curreny.

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September 01, 2018, 04:22:11 PM
 #419

I think it's possible if bitcoin has been received by the whole world
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September 01, 2018, 04:29:52 PM
 #420

yes of course they can create and create their own cryptocurrency because it is the best solution for now to be able to provide solutions to the problems of the existing world economy.

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