Will countries or central banks create their own cryptocurrency?

[Baofeng]

The Central Bank will certainly issue its own cryptocurrency. This is their territory and will not be easily transferred to the cryptocurrency.

Of course, they can always create their cryptocurrency and most of them are really doing it right as this very moment. But its not that see at it seems. I don't think that it can get enough traction from its people because what most of us wanted is a decentralized coins, not any coins that they have the ability to control and track us down. Its fun to really central banks trying to put down bitcoin and other crypto but loves blockchain technology because they want to take advantage of and used it to have their own cryptocurrency.

[raahi]

Most of the powerful banks like Goldman Sachs have a fear of the disappearing value of fiat money has created their coin cryptocurrency to compete with bitcoin, so far no country alone has made its cryptocurrency, the USA is making progress towards this.

[oegarod]

Several countries have begun to make use of the blockchain understanding its value over the traditional system. Some were under development, in few countries teams were initiated to research about the true need of blockchain technology for the successful financial solution.

[Cherylstar86]

Well, on that situation its not easy to make it happen. First and foremost it takes time to make their own crypto currency which they need more supporters, investors and lastly time to make it all happend. Instead they will do such crypto currency that they are wishing for, I would say much better to keep focus on what they are doing because as well all know crypto currency is decentralized and no 3rd party will involve like banking system.

[MiXxe]

This is possible, however, we have to consider the timeliness in that speculation. We all know that it takes so much time, effort, legalities and money to be able to achieve make a digital money or what we call cryptocurrency to work and be accepted. Despite the fact that it will be launched by the central government, I don't think that people will easily embrace that because of adjustments.

[crypki21]

There are already existing national cryptocurrencies out there for instance in Venezuela. Where economy and local fiat currency is struggling, it might be a considerable way to cure the problem to a certain extent

[solkinsolali]

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.

[Undermood]

Central banks can do that. They can even be blockchain-based. What is important is how many countries can do this? Perhaps more valuable money may arise in what you do. it will be easier to make money and invest in a government guarantee.

[Pinoyfan]

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?

Central banks are not capitalism. The real problem here, I believe that this day of my account from a great way. Cause we should be great way my life, and the market. The only way I do not capitalism. The real world, but its not capitalism and it will do if they belong. Cause I think yes

[Ozero]

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?

This can even be doubted. States and various banks will necessarily create their national centralized crypto currency. They realize the advantages of the crypto currency, but they will not use the decentralized types of crypto currency. Banks, of course, will provide services using decentralized crypto currency to take their percentage of sales, but they themselves will use a centralized crypto currency, which will be manageable and not so volatile. This can also be said of states.

[GunsLair]

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 also think that most likely the countries and banks will go to acceptance existing cryptocurrencies such as bitcoin and ethereum. It will be much easier to do than creating something new. But it, certainly, will not replace completely usual money and will serve as an additional means of payment.

[James ssi~]

Somehow they can do that, if the trend became the essential in the future like todays fiat money maybe they will create a crypto that will be the flag bearer of a particular county in crypto world and I guess bitcoin will be the international monetary for cryptocurrency still.

They have the power to do that but they won't gamble their business to something decentralized by adopting a coin that they don't have the authority to control it.

They can create their own cryptocurrency but it can be a stable coin which is not volatile for the sake of their business and customers.  It will be a digital currency if they do that but there's no need for them to do it, they have online banking and adoption of blockchain is what they only need to do.

I think banks are aware of crypto currency, it is possible that they can develop some coins of their own, but being in control of it is hard for them, because that is not the way of how crypto work, the price in the markets are so volatile, it may change the value of every coin at anytime of the day, It will be a huge risk for the banks to invest in crypto currency.

[Twentyonepaylots]

You should watch the show Mr Robot. In the season 2 it goes full crypto, and there is a way of governments vs Bitcoin. The script predicts what I was predicting myself, and that is, a future in which governments want to control 100% what you do with no possible notions anymore for privacy, except they didn't count with bitcoin delivering financial freedom.

They have a cryptocurrency (developed by E Corp) that is closed source and they control everything and they hate Bitcoin since it bursted their Orwellian dream's bubble.

Whoa.. Mr.Robot seems to be the new fap - material
To the OP, countries have already started to create their own coins but who gives a shit. It will never come close to bitcoin due to obvious reasons. There ain't no shit to worry about.

I see no reason for Central Bank of any country create their own Digital Currency? It has an implication to the Economy of one country if this idea is adopted, If we look and check the reason why every country has its own Central Bank simply because of the monetary control as mandated by the Government for single usage of their currency for general circulation. it is use for any transaction, with in the country.

[The_Dark_Knight]

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 they are going to create their own cryptocurrencies, but who is going to use them? The general public is still not interested in cryptocurrencies and most people of the community are too smart to use a currency created by them since we know exactly what they are trying to achieve by creating their own cryptocurrency, so most likely their coins are going to fail like most scam icos.

[gnaylor]

The cryptocurrency market is increasing in value in the accepted countries, now the countries that have already accepted bitcoin don't need to have their Cowen cryptocurrency whereas China who has denied and as everyone knows is the master of closing their own product might be the first to makes its own crypto,

[Crypto24hrs]

Peru as a country is already in the process of creating a digital currency, their bounty is ongoing right away and i no as other countries in  the world see the need they will have no choice than to join the bandwagon.

[bkrobottc1]

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.

I agree with you. Once it be controlled, it can't call decentralized. Only crowd can be controll it.

[odri777]

As soon as the crypto currency becomes a mass phenomenon, banks and crypto currency will immediately turn on!

[cheezcarls]

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?

Correct me if I'm wrong, but Russia has its own cryptocurrency called CryptoRuble. I also believe that the Philippines will have their own as well. However, since they will be owned by the government, I strongly believe that they'll make them centralized cryptocurrencies like Ripple. I just don't know if they are worth holding rather than decentralized cryptocurrencies like Bitcoin. However, decentralized cryptos give power back to the people rather than letting the banks and the government control it.

[Rizky Aditya]

As soon as the crypto currency becomes a mass phenomenon, banks and crypto currency will immediately turn on!

They will shift themselves into this blockchain technology. Now, everything is just getting into technological nature. If you talk about restaurants and shopping malls and medical assistance and transport things and anything, you would be seeing amazing attributes and aspects from technology. So, it is becoming trend and thus currency would adopt this trend as well.