Will countries or central banks create their own cryptocurrency?

[localcrypto]

Thailand is now preparing graft lines to create their own cryptocurrencies in centralised manner and we can see central banks owned crypto currencies in the coming future

[1714823810]

1714823810

[1714823810]

1714823810

[1714823810]

1714823810

[1714823810]

1714823810

[1714823810]

1714823810

[1714823810]

1714823810

[izza123]

States and banks are very closely related. I think that this is unlikely to happen, because bankers will lose most of their profits. Since bankers are people who are worried only about the state of their wallets and they do not care about the development of the country's economy and the well-being of people, they are unlikely to go on this.

[aeternus]

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?

We are already seeing that, the government of Venezuela has created their own cryptocurrency, many people can see that this is just an effort to try to get money to try to keep the government running for as long as possible but even if that is the case it's important to see how the experiment of Venezuela turns out so we can learn from it in the future.

[Gila uang]

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.

[Ludmilla_rose1995]

Japan has already done it. they have made cryptocurrencies for their country called Jcoin. Countries like Japan deserve to be imitated

[Samtob4]

All what i see is that the future of cryptocurrency is bright and many countries will soon accept crypto to be used in there country i see that some country will have there own coin

[tuturutmunding]

it may happen, every country must continue to innovate to adjust to the progress of the times, if cripto has become a trend, then they will try to follow to create digital coins, but surely there will be bank equivalent institutions that they appoint to control, because the country has a lot regulations, it is clear that absolute freedom will not exist

[joshuarose]

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

[Snaic]

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.

[DigitalCyberius]

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.

Correct. It will grant governments more control over people's wealth than ever before, so it's in their advantage to come up with their own crypto currency sooner than later. Imagine how governments will then be in a position where they could just freeze your balances at any time of the day, or give you an instant haircut in case they think it is justified to take that amount from you. Governmental theft and barbary will be upped to the next level that goes beyond all human rights. People are muppets and cash cows of the government already, but with their heavily centralized garbage, people will be pushed into a deeper hole of slavery. One must be stupid to participate in a system like this. Bitcoin is an easy and directly the best possible way to obtain financial freedom, and to finally actually own all your value.

Agreed, government controlled digital currencies (plus digital identities) would pretty much give the government total control over your money, and whether or not you could buy or sell or do any kind of business. The Bible talks of a similar scenario taking place in the End Times. That said, this seems to be a new push in that direction, or at least a new stepping stone along the way to something similar. The push for a cashless society only helps to bring this ever closer to fruition. Some governments have already been talking about creating national cryptocurrencies, and some have even talked about it as a means to get around sanctions, like Venezuela and Iran. With all that said, not so sure that Bitcoin, as much as we love the concept, is the ultimate form of cash, for a few reasons:

A. Try to use Bitcoin when the power's down (either a natural disaster or perhaps martial law?).
B. As technology continues to become more sophisticated, so will hackers' abilities to gain access to your coins.
C. The price is still unstable, and highly affected by news, and manipulated by those with lots of trading power - and imagine if AI bots were trained to take over the market, and do with it as they pleased.
D. Ultimately, BTC is just digital code, it has no intrinsic value (except perhaps making "permanent" records on the digital blockchain).

Just some thoughts,
The Cyberius team.

[valentine401]

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.

[liliano]

I see my country still hasn't come to discuss cryptocurrency itself because too many complex problems will arise according to them. But I have seen their goodwill to study blockchain and they will reportedly apply to the banking sector for reasons of convenience, comfort and effectiveness

[rebeccagreen]

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.

[embargo]

It all depends on who is behind these countries and banks. If this group of people who are directly involved in the creation and full management of bitcoin as an experiment, then naturally they will spread their influence over the controlled countries and central banks. With global plans to create a single management center, hiding behind the idea of decentralization.

[SofiaClarke743]

Not sure if that happened or not? If the future of the cryptocurrency market is recognized by many countries around the world and more people pay attention. It is possible that each business or bank will have its own cryptocurrency.

[owlman]

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.

[Xising]

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.

[Lady Coquet]

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.

[laracastvue]

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.

[joshuarose]

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