National Currency

[goaldigger]

Would it be great if all nations have their alternative cryptocurrency (Altcoins) representing their country, like Dollar, Euro, Peso crypto? Imagine this.

- all countries would have a fiat and crypto that is equivalent to their currency that can be used as a digital money like what is its true function.

- you can choose either to buy using fiats or crypto currency when buying stuffs whether online or not.

- bacause all countries has their crypto counterpart, Cryptocurrency will be legal around the globe.

- you will not have any problems using money when you travel around the world because you just need to convert the currency in your wallet to that particular place you traveled for.

Would this be possible ?

[AlexaSonda]

can I say the idea you have is the hope of everyone. I am optimistic it will happen, but it takes a long time. because we can not lie and stop technological development. if all citizens support and demand this, I am sure this can happen soon.

[Cryptoipad]

The some other country exchange of dollers in the system.the national currency is the dollar. the national currency is the pound.A country's national currency is its common denominator for all things commercial and financial. The dollers currency exchange to rate in market to national currency of country.In some cases, a national currency can become almost a global currency, as the dollar has become other countries and citizens of other countries may purchase the currency as a means of storing extra money in a safer, more stable currency than their own national currency.

[siddartha1492]

Actually many countries are already planning to have their own national cryptocurrencies. Venezuela has already launched one, known as Petro. But it is mainly used for a scammy ICO, and it might not be very useful for their own citizens.

Other than that countries like Russia, India, China etc. have publically mentioned that they are interested in launching their own blockchain and coin. So what you are saying is totally possible and will most certainly happen. Although the only thing is that these cryptocurrencies will not be decentralized, but centralized. Also they will be more stable and less volatile.

[Mpamaegbu]

Governments will always mismanage business investments. The sole responsibility of any government is to provide its citizenry safety of lives and properties. Not to take on monumental projects of business interest. Let every government concentrate on the above mentioned and leave cryptocurrency to private citizens. So, no to national cryptocurrencies.

[krassy]

A good idea, almost everything is moving towards this, but this requires legal registration and a large legislative base, but when we consider this issue we come to a contradiction: the crypto-currency is decentralized, that is, independent of anyone else, but State control implies the control of a third party.

[Yakult]

The idea is great but making it possible is such a challenge. This will contradict everything especially with the real currencies. Making own coin for each country might disrupt the value of their currencies and render useless if this made possible. Maybe in the future someone might make this work.

[Ridwan Fauzi]

I was hear my country will made a digital money, but until now I cannot see the process or the progress. Maybe they not ready yet for this case. They still considered about physical money, because if they made digital money with automatically physical money will dissapear. The government already know the future of digital money and they understood digital money will needed but they still looking for the right time to start.

Your statement is good, if every country have a digital money it would be easy for us who have hobby as traveller. We can with easly to exchange our money in every country, this is the digital era the human will make technology in their daily life. I just thinking if every country have a digital money, will they (government) ban cryptocurrency? Because the government would prefer to choose national currency compared cryptocurrency like bitcoin.

[traderethereum]

Would it be great if all nations have their alternative cryptocurrency (Altcoins) representing their country, like Dollar, Euro, Peso crypto? Imagine this.

- all countries would have a fiat and crypto that is equivalent to their currency that can be used as a digital money like what is its true function.

- you can choose either to buy using fiats or crypto currency when buying stuffs whether online or not.

- bacause all countries has their crypto counterpart, Cryptocurrency will be legal around the globe.

- you will not have any problems using money when you travel around the world because you just need to convert the currency in your wallet to that particular place you traveled for.

Would this be possible ?

I think every government wants this and I think they learn more about cryptocurrency. but I wonder every government must want to see their currency will be on top ten of the cryptocurrency and I guess that they will make sure that this will happen. and if this is really happening, maybe there will be another competition from each country and the stronger will defeat other currency. I think this is not good because every country/government will say that their currency is the best one and the other country need to follow them. and if this happens again, we can see that this is the same as USD which want to be the best currency so far.

[etin06]

Well it won't be a bad idea as long as btc still exist to act as a yardstick to measure those currencies.

[Nunoluck]

Country should not use cryptocurrency as national currency. Since it is decentralized then they will have no ability to control it. Country need currency that can be controled by them so they can make their economy stable.

[investgeek]

Country should not use cryptocurrency as national currency. Since it is decentralized then they will have no ability to control it. Country need currency that can be controled by them so they can make their economy stable.

Countries will use both of them. Those which implement crypto earlier, will get most of that. Who knows maybe countries will implement similar policies (fiscal, monetary) as they do now to control their currencies and economics.

[Umkar]

Apparently, we are going by the time most countries really create their national centralized crypto currency. Some countries already have such coins, in some countries it is provided with oil, go in gold, in others there is not. This process is long and will depend on the success of the first such national crypto currency. Now attempts are already being made to produce not only the national crypto currency, but also the city one. About. this I read today in the news that relate to the release of S-coin to serve the capital of South Korea - Seoul. This is quite an interesting practice. Here we can have different options for using crypto currency.

[Geoll29]

It's a good idea that nations will have their own digital currency. This will represent each of them and may be the flagship as well. Each country will be easily recognize by their own cryptocurrency. I think more and more coins will be created in the future.

[jacafbiz]

I think future is likely to be this way, but I ddoubt it will be based on blockchain, if it is based on blockchain they easily we can no the amount of such currency we have in circulation, that is the least thing a Government want you to know because you will know how your money is losing value, the more money is being created

[noamm1]

There are many countries who started explore in this subject.
There's a big chance that in the near future a few countries will publish thier own crypto

[happyme1818]

Would it be great if all nations have their alternative cryptocurrency (Altcoins) representing their country, like Dollar, Euro, Peso crypto? Imagine this.

- all countries would have a fiat and crypto that is equivalent to their currency that can be used as a digital money like what is its true function.

- you can choose either to buy using fiats or crypto currency when buying stuffs whether online or not.

- bacause all countries has their crypto counterpart, Cryptocurrency will be legal around the globe.

- you will not have any problems using money when you travel around the world because you just need to convert the currency in your wallet to that particular place you traveled for.

Would this be possible ?

Implementing it means the government cannot reprint another magic money unlike a fiat that they can easily reprint in case they need it. Many politician will try to suppress it because it will be hard for them to do corruption if crptocurrency become the main currency of the world.

[richminded]

Country should not use cryptocurrency as national currency. Since it is decentralized then they will have no ability to control it. Country need currency that can be controled by them so they can make their economy stable.

Therefore cryptocurrency will just stay here as an alternative curreny. My only hope is that, government should support this thing without asking for something in return so we can freely use what ever currency or coins we want to own. The idea is good but I think this thing will not happen because basically cryptocurrency should be decentralized since its really the main purpose of bitcoin.

[waligu]

I do not understand the meaning of these projects. Cryptocurrencies were conceived in order to escape from national currencies and introduce new money the same for the whole world. I'm sure that national cryptocurrencies do not have any future

[Dpat]

Most countries are now adopting their own cryptocurrency like in South Korea BOS Coin. But, here the Govt. has to be fully control over the transactions because it is possible all the money of the economy can be drained out from the country one day. So, Govt also curious about this blockchain system which is a very fast payment syatem but finding the way how it keep control over the transactions.