Government Will Use Blockchain But Crypto Currencies Will be Ignored?

[wantjokull]

Since many years bitcoin lurking around the blockchain which is nothing but its boundary. However both of them are still different and we can choose from them.

BLOCK-CHAIN : Is self sustaining platform, decentralised one and if you want to use it then you are free to do so. Taking that into consideration great smart contracts were produced already such ETH on which different ICO projects are now being evolved.


BITCOIN : Just an algorithm or contract that runs on the BLOCK-CHAIN for its own existence and is valued separately depending upon the demand-supply and investments that are being made into it. It is more or less helpful in different applications such as transactions, storing the value, and all the processes of investing it and growing your earnings. This comes when the end user is going to use it. This all happens over the block-chain itself.


Now reading the title one more time :

Government Will Use Blockchain But Crypto Currencies Will be Ignored?

We always keep reading that

• Government is going to BAN the crypto currencies/Bitcoin.
• Government is not able to understand the useful aspects of this New-Technology (Referring to Blockchain)
• Government will never regulate the block-chain and thus they will turn it into centralised one etc.

But do we really need to ask such questions ?
Do you guys really think government will ever care about the Bitcoin if they started exploring the applications of Block-Chain and just ignore the crypto currencies?
Its decentralised thing, we can use it freely then obviously Government can do the same too?
They can manage to create whole new world of crypto's or may be gov-crypto's and may spread the word about it, ignoring the existence of whole crypto currency that we see today?
Have you guys ever had such questions on your mind? How do you propose this matter in long terms?

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[metenjean]

Its not suprising actually, in my country Indonesia the government also told the same thing and i think every countries around the globe also thinking about the blockchain system that will improve ledger and sorting database finding however they won't thinking about changing the flat currency into crypto because that is far too risky for the economy and as we see there are lots of scam lurking with new ICOs everyday. Its too money-consuming and need extra attention from government if they really want to adopt cryptocurrencies into daily use.

I don't think bitcoin is a total waste, but rather than turning flat currency into cryptocurrencies which government will never approved 100%. Its better to turned bitcoin as asset like gold and silver for investment purpose rather than daily purpose. Government will only reap from blockchain technology and taxation from bitcoin transactions, but will never implement it as currency.                                                                                                                                                                                           

[Jessica2009]

    Blockchain and cryptocurrency technology can benefit the global economy Japan is an example after facing several finacial strategies now Japan has legalized crypto currencies . Even though Blockchain and crypto currency technology are in its infant stage they have become the greatest technology advances since internet have started .Blockchain technology is a good sign for small and medium business companies. The central bank doubts about the stability and value  and privacy of this digital currency. If the government is ignoring crypto currency they will lose control over the supply of currency over the world.

[squatz1]

Well that's the only thing that they're going to be able to use which is going to help them, if they were to accept crypto then they're just going to be shooting themselves in the foot. They're going to be asking to lose power, which isn't going to be something which is going to help them -- they're not going to willingly give up their power.

Cryptos are just asking for them to lose. Theey want to maintain control, like any government does.

[rhayot]

There's a chance that government will implement the new technology which is blockchain because it will have a good impact in the technology of a certain country, but nevertheless the government will still ignored the cryptocurrency especially bitcoin because we all know that this is decentralized digital currency and the function of the government is to control and maintaining their economy. Probably, there will be a possible thing that if they will adopt the blockchain, they will create their own cryptocurrency.

[MakeMoneyBtc]

I have also thought about this whole thing in the past and what you say is fully correct. Governments can create their own cryptocurencies using blockchain technology and they dont have to take control of bitcoin. This is not about bitcoin or other coins. It is about blockchain and I am sure governments will take advantage and actually use this technology to take control over the cryptocurrencies because after all governments can control almost anything because they have the whole power in a country. Governments dont have to bann cryptocurrencies, they just have to create one of their own coin then sell it to people's so that it becomes very popular and become the lider.

[entrepmind23]

Blockchain technology would be a big help especially to the monitoring of funds as this is a big issue to the government agencies in which corruption always happen due to mismanagement of funds and having no proper documentation, the information can easily be manipulated. If there is blockchain technology, it would be easier to track the funds because it is all recorded in the system and no one can just easily delete or alter such data. This can be done without using cryptocurrency so I think cryptocurrencies would eventually be declared as illegal if the government have a strong opposition to it or will just be treated like stock but there would be applicable rules as there are no specific rules in majority of the countries.

I am happy now that our government is not oppose to cryptocurrencies and even allowed some platform to operate so that the people can easily buy and sell it but maybe if they see that there is already uncontrollable funds that they cannot monitor properly then they would ban it and declare it as illegal. Blockchain technology would be useful in many aspects of the transactions but cryptocurrencies can be disregarded.

[shandiem14]

I agree on this they may integrate on blockchain then can create token and that will not involve on any cryptocurrencies which is good start. But how can they make such token if they won't apply on smart contracts?? well, this is a good start and i know it will be on mainstream media sooner.

[liseff3]

So far it's true what friends say, almost every country has implemented Blockchain Technology for their own banking interests for the speed of their financial transactions.

Meanwhile bitcoin itself they ignore because its value is volatile. If I analyzed more closely with what the government is doing I think that is right. Apparently, the government has been thinking more about the dangers of bitcoin volatile value which tends to be manipulated by third parties (whales) which can destroy the state's finance are constantly (as is the case today).


"If the value of bitcoin volatile cannot be manipulated, perhaps more than most countries already many are adopting bitcoin."

[AndrewBrown]

Governments are really just trying to buy time for themselves till they can figure out how to properly tax cryptocurrencies and make money from the market which is why they seem so against it right now.

[Michellekking]

Since many years bitcoin lurking around the blockchain which is nothing but its boundary. However both of them are still different and we can choose from them.

BLOCK-CHAIN : Is self sustaining platform, decentralised one and if you want to use it then you are free to do so. Taking that into consideration great smart contracts were produced already such ETH on which different ICO projects are now being evolved.


BITCOIN : Just an algorithm or contract that runs on the BLOCK-CHAIN for its own existence and is valued separately depending upon the demand-supply and investments that are being made into it. It is more or less helpful in different applications such as transactions, storing the value, and all the processes of investing it and growing your earnings. This comes when the end user is going to use it. This all happens over the block-chain itself.


Now reading the title one more time :

Government Will Use Blockchain But Crypto Currencies Will be Ignored?

We always keep reading that

• Government is going to BAN the crypto currencies/Bitcoin.
• Government is not able to understand the useful aspects of this New-Technology (Referring to Blockchain)
• Government will never regulate the block-chain and thus they will turn it into centralised one etc.

But do we really need to ask such questions ?
Do you guys really think government will ever care about the Bitcoin if they started exploring the applications of Block-Chain and just ignore the crypto currencies?
Its decentralised thing, we can use it freely then obviously Government can do the same too?
They can manage to create whole new world of crypto's or may be gov-crypto's and may spread the word about it, ignoring the existence of whole crypto currency that we see today?
Have you guys ever had such questions on your mind? How do you propose this matter in long terms?

Yes, the blockchain is a technology, and the cryptocurrency, led by bitcoin, is just a token created to support these technologies. So the government is not against blockchain technology, and they are against the idea of using blockchain technology as a cover for money.

[UAE Seasider]

Governments will for sure be using Blockchain technology, it should simplify the processing for many different services or assets. Dubai has recently announced that they wish to run the majority of their government services on the Blockchain by 2020.

[Tapyaks72]

Governments will for sure be using Blockchain technology, it should simplify the processing for many different services or assets. Dubai has recently announced that they wish to run the majority of their government services on the Blockchain by 2020.

If the government sees positive things about using Blockchain technology  in their advantage nobody will  stop them but they should also think the ownership of the technology.The technology are intended for cryptocurrency . Then if they use the technology they should also pay what is good for the owner of the technology. Because of intellectual property  rights.

[lisasteca]

I have read of many hypotheses of public projects based on blockchain technology. We need patience for the use of cryptocurrencies. A government must necessarily protect users and guarantee a stable currency of exchange.

[cryptohunter]

all speculation and drivel here.

btc is being viewed as currency already in japan and germany

more will adopt it

maybe governments are sick and tired of being the ass puppets for banksters and want freedom from that shit

they will get their huge chunks of crypto through taxation anyway

the gov will always get their cut........ maybe they are sick of giving most of it back to bankster who piss it all away on huge bonuses and gambling


of course blockchain has many uses outside of just currency that many groups including governments will utilise.

[bright4mech]

Government no have time or using crypto-currency. But it approved by any government, blockchain and crypto-currency move together as husband and wife, blockchain alone is an empty wallet, because, what makes it sweet is the Crypto inside it. In other words Blockchain Technology is own by a person, them need to pay to the before using it.

[catok broek]

Some governments are using blockchain, although they don't legalize ctyptocurrencies.
Blockchain is not always about crytocurrencies, it also can be used for financial recordings etc. blockchain is about digital codes that can solve safety and certainty problems for many corporations.

[pawanjain]

I think most of the governments are ignoring the blockchain and cryptocurrencies because they think it will disrupt the traditional banking systems through which they are making profits right now. It might be true but they must take this into consideration that blockchain is an emerging technology and it can be used fro numerous purposes. The government can create their own coin and circulate it. Althought the coin would be centralized , they will be able to make profits from it. This can be a gateway for cryptocurrencies and the blockchain.

[cleygaux]

In my opinion governments will likely to use blockchain technology in the near future because they can see a lot of potential how this technology will help them to record publicly some transactions but on the contrary they are too strict in giving regulations into virtual currencies that uses this blockchain technology and i really dont know why they are so afraid with it.   

[ganlianshifu1]

Block chain technology is applied to the government information system, and the security of the system will be greatly improved.

Block chain technical government work is more transparent, can regulate the tax behavior!

The government has the money to maintain the blockchain, and does not need to issue an encrypted currency to raise the cost of maintenance!

[7788bitcoin]

It is really difficult to predict the exact decisions that are going to make by the governments around the world, some might ban it altogether while the major nations might embrace it, there is not doubt that blockchain will be used in many aspects of society in the future, i am certain that bitcoin will be there in the future, but i am not sure about the tokens and other coins.

[rahul10948]

I think the more technology government approved or worked the more awarenesses will come and if people want to be the part of this technology then the only way is buy holding the coin..itself ..I think the government postive action on block chain adoption will automatically lead to crypto currency volume...until and unless gov banned trading which is not going to happen

[pumbum]

who would know, maybe bitcoin is also a Pro-government technology, which is designed to identify the need for such technology and its refinement. as for the blockchain, it has been used for a long time, but it is not decentralized. the technology is not new

[Xester]

I do agree with this topic. Government will surely adopt the technology leaving behind the cryptocurrencies. The government all around the world does really need blockchain technology to be integrated in their system, it will not only provide transparency but will make things run smoother. Cryptocurrency on the other hand is not necessary since fiat currency is already in existence and if a country will decide to go digital they will create their own currency online.

[Dudeperfect]

This technology is so amazing that governments are willing to use it for the optimization of the process and improve overall efficiency. However, they don't want this to happen in the financial sector where power will be in the hands of the users. Many blockchain based good concepts are coming up but there are many obstacles to the growth but still, I am optimistic about the involvement of Blockchain in many sectors in next 10 years. It would be an irony if the government is using blockchain technology because the concept of blockchain is all about decentralization.

[Doge dealer]

definitely governments , and even private organizations have started to explore and develop their own private blockchain technologies and they have said as much so definitely blockchain tech has been pretty much accepted already, their is no evidence however to suggest that they will ignore crypo currencies as the reports that have come out of all the major economic meetings this year has been positive towards crypto currencies , infact the release from the US congress was very encouraging .

[Gabriellefull]

Since many years bitcoin lurking around the blockchain which is nothing but its boundary. However both of them are still different and we can choose from them.

BLOCK-CHAIN : Is self sustaining platform, decentralised one and if you want to use it then you are free to do so. Taking that into consideration great smart contracts were produced already such ETH on which different ICO projects are now being evolved.


BITCOIN : Just an algorithm or contract that runs on the BLOCK-CHAIN for its own existence and is valued separately depending upon the demand-supply and investments that are being made into it. It is more or less helpful in different applications such as transactions, storing the value, and all the processes of investing it and growing your earnings. This comes when the end user is going to use it. This all happens over the block-chain itself.


Now reading the title one more time :

Government Will Use Blockchain But Crypto Currencies Will be Ignored?

We always keep reading that

• Government is going to BAN the crypto currencies/Bitcoin.
• Government is not able to understand the useful aspects of this New-Technology (Referring to Blockchain)
• Government will never regulate the block-chain and thus they will turn it into centralised one etc.

But do we really need to ask such questions ?
Do you guys really think government will ever care about the Bitcoin if they started exploring the applications of Block-Chain and just ignore the crypto currencies?
Its decentralised thing, we can use it freely then obviously Government can do the same too?
They can manage to create whole new world of crypto's or may be gov-crypto's and may spread the word about it, ignoring the existence of whole crypto currency that we see today?
Have you guys ever had such questions on your mind? How do you propose this matter in long terms?

Cryptocurrency creation is a way to reward blockchain technology. But this is used by some criminals to defraud money. When the government study block chain technology, I don't think they need to reward, they can use cash, so the encryption currency may not be attention, this is a big possibility

[akashark]

It can be happen in future but in our country government will not use blockchain platform too. they banned bitcoin and all other cryptocurrency. Blockchain is a great invention in this century,  and I hope government will know this platform 's facility. But it is bitter truth that lots of country will not use bitcoin or blockchain. Hope for the best

[SixOfFive]

This would not be a surprise if it happens. Already many countries have said about their intentions of doing the same thing. The blockchain will bring many advantages to the country such as regulatory compliance, transparency, quality assurance, smart contracts, etc. And yes, the government will surely ignore Bitcoin as they will never want cryptocurrencies to replace the fiat currency.

[bitart]

This would not be a surprise if it happens. Already many countries have said about their intentions of doing the same thing. The blockchain will bring many advantages to the country such as regulatory compliance, transparency, quality assurance, smart contracts, etc. And yes, the government will surely ignore Bitcoin as they will never want cryptocurrencies to replace the fiat currency.

They don't want it to replace the fiat money, but they can accept it, like it was a currency of a foreign country. In this case, bitcoin can be accepted and of course, taxed. Like you are not forced to use your national fiat in your country, it's just easier to use that. If you want, you can use USD in the EU countries, they will accept your USD fiat (or you have it exchanged to the local currency) but it's an accepted currency. This can happen to bitcoin, if the countries will regulate (and accept) it.
When you pay with your debit/credit card, the merchant doesn't care if the card is denominated in EUR or USD, in the end they will have the money, this can be true for bitcoin too, if you will use a bitcoin debit card (if there will be a working one with cheap fees), merchants won't care about it, they will accept it if the card will be a VISA or MasterCard. The situation will be a bit different if it's about direct bitcoin payments...

[BitHodler]

i am certain that bitcoin will be there in the future, but i am not sure about the tokens and other coins.

Even tokens have a place in this ecosystem, where we are already experiencing that while tokens are being put in the securities category, they still are allowed as long as they register themselves with the appropriate department.

I think within a few years we will see a different market on each level, where each token has to register itself in each country it wants to be available in, while they now still operate in a gray area, and thus have luck on their side.

In the same way, I do expect a similar approach that will apply to altcoins, or to newly created altcoins. No way will it remain this easy to develop a shitcoin and get it listed on whatever exchange. I expect some harsh actions here.

[NoviceInvestor]

I do agree with this topic. Government will surely adopt the technology leaving behind the cryptocurrencies. The government all around the world does really need blockchain technology to be integrated in their system, it will not only provide transparency but will make things run smoother. Cryptocurrency on the other hand is not necessary since fiat currency is already in existence and if a country will decide to go digital they will create their own currency online.

I agree with this. There are just too many advantages for governments to start up their own cryptocurrencies to assume that they will just adopt existing coins.

[mrbamboo]

I do not quite agree with that. I believe the government will use Blockchain technology to finance. And the Crytocurrency market is a trading trend of the future. It is too convincing for the managers of the country. I think the government will still develop the Crytocurrency market. I suspect that the government will create a new altcoin to replace Bitcoin in digital money trading operations. This is more feasible.

[Pamahaw]

If governments will use blockchain then we can say that bitcoin had influence in them. If they choose to ignore cryptocurrency then i think it is not important because digital currency is decentralized and government have no control over it so ignoring on their end is not important.

[fluctuations]

I do agree with this topic. Government will surely adopt the technology leaving behind the cryptocurrencies. The government all around the world does really need blockchain technology to be integrated in their system, it will not only provide transparency but will make things run smoother. Cryptocurrency on the other hand is not necessary since fiat currency is already in existence and if a country will decide to go digital they will create their own currency online.

I agree with this. There are just too many advantages for governments to start up their own cryptocurrencies to assume that they will just adopt existing coins.

I think like you. Blockchain technology is a good technology and we should develop it, in terms of electronic money, so that the government accepts it needs a long process. This is unpredictable.

[Guvn0r]

If you are already aware about what happened in India in the recent couple of weeks. The Govt. formed a committee to learn about Blockchain tech and also BTC, this happened as far as early 2015 when BTC was around 500-600$ and many people from India was showing interest in the tech as well as in the investment aspect of BTC.

The Govt. took a neutral stance and only warned the citizens about 'insecure' nature of BTC since they clearly did not understand what BTC was. May be they gave such a picture since there were many investment and mining scams that took around that time. Anyway, last few weeks was a real rollercoaster ride when the central bank (RBI) sent out a circular to all banks under its jurisdiction to refrain from serving any kind of business or Individuals who were dealing in crypto. There was a massive panic sell at that point and now situation is quite certain that there is no more be any BTC action in India. The committee they formed learned about blockchain tech however and many banks are using it and there is also a rumor that the central bank may release a crypto for Indians.

[saruxanyan]

By the time as the Ministry of Finance changed their minds, the blockade had influential supporters among Russian statesmen. As the interlocutors of Medusa say, Vnesheconombank Chairman Sergey Gorkov became seriously interested in the first technology, he took the topic of the president of Sberbank German Gref - and through Gref, First Deputy Prime Minister Igor Shuvalov became interested in crypto-currencies. They became the main crypto-enthusiasts in power.

[fourtimesprofit]

most of the governments on similar notion blockchain is revolutionary technology but crypto currencies are for money laundering

[Washball]

There already is one government that created it's own cryptocurrency: Venezuela introduced the Petro, in order to evade the sanctions from the US.
Banks and authorities would rather ban cryptocurrencies, they are a threat to their centralized system. But they will use the blockchain, because of the benefits. In fact, they will create their own crypto and regulate decentralized cryptocurrencies.

[tanjilrifat]

 It might be true but they must take this into consideration that blockchain is an emerging technology and it can be used fro numerous purposes. I think the government will still develop the Crytocurrency market.

[Solomonkingdom]

yeppp, the government would prefer blockchain but would bypass the release of electronic money or support it. Because they want to run the country, they have to master the economy.

[Donald Johnston]

The governments can’t ban something they can’t control, if they would like to destroy it, they would have to erase every node in the network which is nearly impossible - All the computers which contain the blockchain history need to be put offline.

[Ronald Lane]

No, but they could drive it underground and drop it's price.

They could ban the redemption of currency for bit coins. However even with tough enforcement people would still find a way of exchanging them - it just would get more complicated. People could always just exchange physical cash for bitcoins.

[Lester Atkins]

 they could stop the sale of goods and services for bit coin. This would affect shops and other physical fixed locations, but would not stop people doing quiet deals on the side. For example tradesmen often often discounts equal to the GST (VAT) rate for cash payments, and something similar could be done with bitcoins.

[salinizm]

Blockchain is one the most useful inventions of all times . Blockchain is completely necessary for today's world. For that reason, All of the governments want to have blockchain technology to have better economy. However, they are afraid of supporting cryptocurrencies because They do not have legal regulation about cryptos.

[Samuel Fields]

They can't ban bitcoin, but they can ban exchanges and adoption.

Of course this would not eliminate the presence of bitcoin, just as heroin ban doesn't make heroin go away, only opens up opportunities on black market and skyrockets the price in that particular market

[Donald Johnston]

No government can effectivily ban bitcoin (or any other digital record keeping system). They can ban exchanges and thus create another huge ilegal market, for only criminals and terrorist to use it. Governmets don't know yet, but their mafia taxing methods, money printing business and totalitarian money controls are coming to an end.

[muslol67]

I do not think there will be any ban anymore. An arrangement may be made for ICO processes, but this will not have much effect.

[Ronald Lane]

They can't ban something that they can't control.
But they can say "it is prohibited to use", but is just a say, with no value or action. Those words remain words and NOTHING can stop Bitcoin to be used.
Is like saying "from now on we ban breathing"... Ok so? People will continue breathing.

[Lester Atkins]

US gov has like 20,000 or more bigger fish to try. also if trump cuts government spending, how are they going to fund going after btc onramps/offramps. not likely.

[MiukoOk]

I do not think that. The Government will review and evaluate this. Besides the use of blockchain technology, I believe that the government will also put Bitcoin into the currency market. But to do that, Bitcoin, in my opinion, must be governed by clear, protect the interests of investors. So people can feel secure, believe in electronic money.

[IndigoRed]

With varying rules and regulations for very nation, it is a challenge to make cryptocurrencies or at least the most popular coin as a mode of payment. Omnipresence of crypto will only become a reality when it has a diverse acceptance.
It is a challenging path ahead, but with crypto’s structure and beneficial features, cryptos cannot be ignored. It will continue to manage to stay strong amongst all the hurdles being faced. Just continue to trust in it. Crypto will prevail as we move towards a more digital future. Do you agree?