What if every country has its own crypto currency

[aces777]

The reason why crypto currency is famous among people today is due to its decentralization and not because of the technology. If government had to issue their own digital currency than there are far more better technologies out there and using blockchain for a centralized project wouldn't make sense.

[donalfonso]

Wouldnt it be nice if each country in the world issues its own crypto currency just like they issue sovereign bonds and they raise funds from there to fund projects in their economies. I know Venezuela tried to do something like that, but the project was already being killed by the governments opponents before it took off.  Now lets assume that didnt happen could it be a good way to create some form of sanity and confidence in the crypto world.

Would be fine for me . I Preffer Without ICO and without Premine and split it with all people over that country . What happens next thats on people shoulders . There is Venezuela who issued State backed cryptocurrency . You can read it here https://www.coindesk.com/crypto-investors-stay-away-venezuelas-petro/

Interesting piece about the Venezuela project, even though it was a poorly conceived and executed project. I think its ultimate failure is as a result of Venezuela's poor image in the west and the fact that it was openly marketed as a tool to circumvent western sanctions and that alone is a no no for any smart investor.

[donalfonso]

Wouldnt it be nice if each country in the world issues its own crypto currency just like they issue sovereign bonds and they raise funds from there to fund projects in their economies. I know Venezuela tried to do something like that, but the project was already being killed by the governments opponents before it took off.  Now lets assume that didnt happen could it be a good way to create some form of sanity and confidence in the crypto world.

   In the late of 2017 Russian President Vladimir Putin asked his Russian officials to develop a Russias own in-house cryptocurrency called cryptorouble. According to his adviser, it is a useful tool to evade western economics sanctions but the US and EU responded and put sanction regarding this matter. Right now I don't know the existence of the said crypto but the very essence of being government own cryptocurrency that I'm not in favor are truly regulated and trackable currency.

I think any crypto initiated with the intention to circumvent some form of sanctions is already on its way to failure, first it immediately becomes unattractive to investors and anyone who dares invest now has a target on his back from whoever imposed the sanction in the first place.

[johstacy]

This is contrary to the principles of economics. The national currency (cryptocurrency) should be stable with minimal fluctuations in inflation. The market is not stable. I don't know of any stable cryptocurrency.
If countries will introduce national cryp.currency, then it will be centralized coins.
Do you want to get wages for a month, come to the store and buy only a pint of milk per all the money because the market has fallen?

[ronsalwey9874]

Well, I agree with your statement. It would be very nice if every country has its own cryptocurrency. I hope someday the governments will understand the advantages of cryptocurrency instead of looking at their profit and they will accept cryptocurrency worldwide.

[itsik78]

How I am waiting for this moment when all countries of the world will accept cryptocurrency.This will be a new round in the evolution of man and mankind.The future is very near

[vrabac68]

Well this will happen maybe one day.I see future where there will be 10000 cryptocurrencies around.A lot of the will fail and fall to 1 satoshi but there will be 1000s of accepted crypto in payments and financial transactions

[mbah]

This certainly will make the former crypto will be even greater because crypto is increasingly tight competition with each other. However, it was later also will be just the same as before where the weak currency will fail to compete and have a low value. but I think it also would not have been possible because the State already has its own currency and it's been their policy provision.

[13abyknight]

Certainly isn't possible with so many nations already standing up against cryptocurrencies. Expecting every country to pull off a Venezuela is as good as a daydream.

In the case something along the lines actually happens, the crypto market would be topped by 'national' coins backed by resources of the respective countries and the projects we are witnessing today at mass, might get sidelined real hard.

[spaso_87]

Wouldnt it be nice if each country in the world issues its own crypto currency just like they issue sovereign bonds and they raise funds from there to fund projects in their economies. I know Venezuela tried to do something like that, but the project was already being killed by the governments opponents before it took off.  Now lets assume that didnt happen could it be a good way to create some form of sanity and confidence in the crypto world.

I would like to say would not it be better if every country has its own cryptocurrency and in that way, there would probably not be anything like this that sometimes until the price of crypto collides or how because faithfully the country has its own cryptocurrency can raise funds from each country

[Siblack]

a good idea, but I think it will be difficult. because launching a cryptocurrency is not easy, let alone many countries think that cryptocurrency is an illegal coin. surely it will make it more difficult. the most important thing now is to give a positive impression on cryptocurrency so that more and more people believe in cryptocurrency and support the development.

[veraro]

I think it possible. There are a lot of countries thinking about creating their own cryptocurrency. That can make crypto more popular among populations, and help spread crypto all over the world. But it takes many years.

[steins19]

If that happens that I believe that it'll just be the same with  the paper money.  In which all countries can just will just repeat the same mistake.

[View_style]

The government will not allow this. However, I believe that this is a cool idea. I will refuse the fiat of money. Virtual money will make life easier.

[Ka4Rt4]

maybe if every country has its own crypto currency will be created and there is competition price value and but before each country owns and issued a crypto currency itself its status kelegalan it needs to be recognized.

[kuyaJ]

Wouldnt it be nice if each country in the world issues its own crypto currency just like they issue sovereign bonds and they raise funds from there to fund projects in their economies. I know Venezuela tried to do something like that, but the project was already being killed by the governments opponents before it took off.  Now lets assume that didnt happen could it be a good way to create some form of sanity and confidence in the crypto world.

This will be very hard and it will take many steps for this to be accomplished, the government will have a hard time passing this kind of petition and by that for me is impossible and i dont think that a country will have a cryptocurrency.

Some country doesn't agree by bitcoin and they not want bitcoin in their country that's why they banned it.  I think it is good but there are more ICO release and many more token do create so there are more added token will be again.  The cryptocurrency was for the whole world so why we need to take our own by every country, right?

and of course, when every country have own crypto, it take by government and they didn't agree by it because of the issue on some bank.

When every country has own crypto then it circulate by own country only unlike when the whole world use one crypto world only, it takes for the good circulation.

[PETES]

The government will not allow this. However, I believe that this is a cool idea. I will refuse the fiat of money. Virtual money will make life easier.

Yeah they won't allow this and as well as the people because not everyone will agree to have a crypto currency as they'll just find this complicated and internet connection isn't available in every place so I guess this will be far to happen. It will take more years to be accepted by everyone.

[kayvie]

Wouldnt it be nice if each country in the world issues its own crypto currency just like they issue sovereign bonds and they raise funds from there to fund projects in their economies. I know Venezuela tried to do something like that, but the project was already being killed by the governments opponents before it took off.  Now lets assume that didnt happen could it be a good way to create some form of sanity and confidence in the crypto world.

there's a lot of possible things that might happen. it can grow the the volume of cryptocurrency in the market, and it might be the reason for overcrowding. imagine if every country will have their own crypto, then that crypto is only in demand for that certain country, it will have a limit on its price and also, it might trigger more scam ico.

[SOGabriel]

In my opinion I don't think it is ethical for every country to have it's own Cryptocurrency because it will only lead us back to the days of fiat money where governments will still be in control and therefore the main purpose of cryptocurrency will not be fulfilled. Cryptocurrency is meant to be your private bank and anonymous.

[unusualfacts30]

Wouldnt it be nice if each country in the world issues its own crypto currency just like they issue sovereign bonds and they raise funds from there to fund projects in their economies. I know Venezuela tried to do something like that, but the project was already being killed by the governments opponents before it took off.  Now lets assume that didnt happen could it be a good way to create some form of sanity and confidence in the crypto world.

perhaps implementing blockchain in the current system and then allowing people to use bitcoin or other mode of cryptocurrency. There are numerous government/banks already working on this. Venezuela is one, I believe Russia mentioned something similar but they would just be creating their own cryptocurrency which may or may not help other alts.