Government Will Use Blockchain But Crypto Currencies Will be Ignored?

[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.

[1714958118]

1714958118

[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.