Will countries or central banks create their own cryptocurrency?

[ntoken]

Yes, they will.
Even the official bank of China will release its digital currency.
But that's barely currency, have much difference compared to the ones we discussed.

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[pathapoddo]

Countries or Central Bank will try to create a digital currency but they will not keep it uncontrollable. Because the bank will try to keep tax on it.

[FutureToken]

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?

It doesn't matter whether the government creates a digital currency or crypto currency. What matters is whether the currency is decentralized or not. This is not something which they will be keen on - why would they want to cede control to the masses? So a government created crypto/digital currency will be subject to the same old failings as the existing fiat currencies.

Totally agree.

[Zach707]

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 don't think so that banks or central banks will create their own cryptocurrency. There are news article circulating recently about central banks of some countries that are planning to adapt the blockchain technology but at the same distancing itself to cryptocurrency.

[tanghere02]

I think the banks will soon create their own cryptocurrency especially if the other countries are legalizing bitcoin which is what Russia just had announced. I can clearly see that in the future, and it will most likely happen in time. But I don't know if that is a good thing or not because it will be in competition with other cryptocurrencies that are decentralized.

[SilverKing45]

I think the banks will soon create their own cryptocurrency especially if the other countries are legalizing bitcoin which is what Russia just had announced. I can clearly see that in the future, and it will most likely happen in time. But I don't know if that is a good thing or not because it will be in competition with other cryptocurrencies that are decentralized.

I think centralized bank can also create crypto but it will surely bitcoin is the most efficient because of its capabilities .Why we owe others if bitcoin is there this kind of crypto is the future in all coin. It will never defeat bitcoin in other kind of coin.

[portotoi]

Countries or Central Bank will try to create a digital currency but they will not keep it uncontrollable. Because the bank will try to keep tax on it.

I think this is possible. We may don't aware that some banks making their own crypto currency and maybe making an ICO also. Some of them are slowly adjusting with the digital currency. And i know that China bank has also their own cryptocurrency.

[shi07]

According to the article I have read the countries that have issued their own cryptocurrencies include Ecuador, China, Senegal, Singapore, Tunisia. I Think the purpose of this is to regulate national cryptocurrencies per country and take the control to the government and the advantage of creating this is to hold the momentum of the value because this will effect the economy of the country.

[pallang]

It is possible that this will happen in the future especially those with advance and modern technologies but for those countries that can't cope up with these they will had a hard time to create their own crypto currency.

[Baoo]

Why not? , for me, everything is possible in the era of cryptocurrency. Because this field has changed everything to the best in the economic area and there become a facilitator of transactions and many other advantages which are more profitable from the previous period ( Before the era of cryptocurrencies). On the other hand, If there is a continuing this success, then it is expected that some countries (which is strong in the economy) to make their own currencies to take benefit of the advantages of digital currencies on their economy.
Furthermore, There is some news says that Ripple (XRP)  created by some successful banks and their goal is to overcome " Bitcoin" and when we see that their market cap is very huge compared to other currencies, where their prices are low,  then we conclude that this currency (Ripple) are made by banks or countries.
So may be some countries  makes currencies in a secret way .

[aintnopassincraze]

It is possible that this will happen in the future especially those with advance and modern technologies but for those countries that can't cope up with these they will had a hard time to create their own crypto currency.

Having a hard time would be a bit of an understatement. It is literally the same slave like system but on a blockchain. Putting the world blockchain in front of what you are doing won't all of a sudden make it free, open, censorship resistant, neutral, and decentralize the currency now would it? If it is centralized it is still crap and that is likely what would happen here with these government backed coins.

[princesspoppy]

I think it's possible. They can make and release their own digital currency, but the main point here is if it will be useful for their banks and if people will appreciate this digital currency. If we're going to talk about digital/crypto currencies, still decentralized cryptocurrencies are much better than those centralize that will/might be released by them. There will still be more people to stick to this decentralized cryptos than centralized ones where there are possibilities that it can be controlled by this banks or by government.

[richardsNY]

Having a hard time would be a bit of an understatement. It is literally the same slave like system but on a blockchain. Putting the world blockchain in front of what you are doing won't all of a sudden make it free, open, censorship resistant, neutral, and decentralize the currency now would it? If it is centralized it is still crap and that is likely what would happen here with these government backed coins.

Centralized crypto currencies issued by a bank or government are the worst possible forms of 'progression' the financial world can go through. If people think they are a slave of their bank or government already, wait for what's going to happen once you are locked up in their ecosystem entirely. Currently you at least can take out money from an ATM and conduct transactions manually in a peer to peer manner. Once cash is going vanish entirely, which is just a matter of time, you will be left with nothing but an ecosystem where the bank tells you what you can spend your hard earned money on. Without centralized crypto currencies, we are heading towards such an economy already, but once they force you to use their fiat tokens granting them more control than ever, you can consider yourself to be a 2.0 slave. People shouldn't fall for that garbage and adopt Bitcoin asap.

[andrei56]

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?

Yes, central banks around the world will eventually create their own cryptocurrencies, they cannot let the whole market being dominated by bitcoin and alts they cannot control, when that happens be prepared for the lies of the media to go in overdrive since they will need to sell those coins as better than bitcoin and all other alts but of course see we know the truth.

[el kaka22]

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 don't think so that banks or central banks will create their own cryptocurrency. There are news article circulating recently about central banks of some countries that are planning to adapt the blockchain technology but at the same distancing itself to cryptocurrency.

Apparently, you are not getting the idea. All governments are embracing the blockchain technology but not cryptocurrency as a result of the fact that it is decentralized.

I read an article recently in my country with the Central Bank warning people on cryptocurrency, stating categorically that is an uncontrolled environment and that was the excuse they came up with. So, there fight is not on cryptocurrency but the idea of decentralization, which we both know that even in their adoption, whatever cryptocurrency they create will end up centralized anyway.

[adolf512]

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?

As we see today, there is already an example of creating its own crypto currency in Venezuela. This fact has caused a lot of criticism from some countries, but most of the world's users of crypto-currency are happy. Let's see how the events will develop further.

[gamalzour]

Countries or Central Bank will try to create a digital currency but they will not keep it uncontrollable. Because the bank will try to keep tax on it.

I am still looking forward to when we will start seeing moments as this. Blockchain technology has proven to be the future and from the look of things, CBN on behalf of federal government in most countries are starting to create groups aimed at seeing how they can benefit a lot from the technology. Obviously, whatever they create will still de centralized, but at the end, they all end the same old currency but with the difference being on the blockchain.

[Coinsher]

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 each country have already created their own currency but differ in value.Because in my own opinion,the reason of this is to determined how good their economy is.Example like european countries,long before they are already rich and well developed countries and as a result,their currency have a good value in the market.So I think it is really important to create own currency because all countries in the world are not the same.

[perfect999]

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 that many countries will try to create their own crypto currency, but these attempts will not be successful. Crypto currency was created for the purpose of anonymity and decentralization, and government crypto currency will not have such features.

I have seen some countries mention something about creating their own cryptocurrencies, but I don’t think such an idea will work out pretty good for them. It will just put them into a blind competition with others, where they will all gain nothing. Why I said this, is because their cryptocurrencies are likely to be centralized or something.

Why won't it work out if I may ask? Sure, it will be another centralized currency and moreover the cashless policy has already started making the usage of physical cash go into extinct in some societies, so using the blockchain to start generating currencies and throwing it out to the nation and making it tradable globally since that is one of the things that makes crypto trading tick, then I see no reason why it cannot make a lot of sense having them adopt blockchain technology.

[Carlsen]

Venezuela has just created the first crypto currency emitted by a government, the Petro.
Allegedly every Petro is backed up by one gallon of oil. The first day brought the government 735 million US dollars.
Now they want to give out more Petro and emit another currency backed up by gold.
I see that developement very skeptical.