What are the odds that the government/banks will truly create their own coin?

[Shimmiry]

Governments and banks already have their own currency and it is the fiat currency. It is unlikely that they will ever try to create their own cryptocurrency. Even if they do try create it, it will not be decentralized. A centralized currency will hardly be able to cryptocurrency.

Probably it is. Decentralisation is one of the thing why people build enthusiasm to bitcoin or the cryptocurrency. It is its unique characteristics that whatvwe need. Without intervention or manipulation of the banks and the government. This will more likely satisfies what we need today and to the future.

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[electronicash]

this is possible. they would have to cope up when people around the world will be using crypto since we are all promoting paperless and cashless for the environment. but there would be some tweak to be done in thier blockchain in order for them to still have the control. probably issue more coins in the future.

[spongegar]

The question is not if it would happen but when; and the answer is when people start accepting crypto currency and start forgetting Fiat. Countries would line up to create their own coin so that they could still habe a hand in controlling their economyfor themselves. They can manipulate prices and blockchains because it is their own.

[Indrawan77]

Some of the countries already created their own coin but not too successful, because when the government create a coin then the coin will be a centralised coin which will be almost like fiat, bitcoin and alt coins got a different unique feature, so the existence of new coin won't disrupt anything, to be honest we don't need any new coin, the crypto market already flooded with tons of coin that got no value

[Ridwan Fauzi]

The first thing that should know about the concept of cryptocurrency creation is decentralization, used as a place for everyone to do and having a currency without known and regulated by the government. And until now they were comfortable with this system, even more, most of the cryptocurrency users themselves hated every regulation made by the government. About your question,

 If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?

There are a reason for every cryptocurrency user not to give up their investment or reduce their activities with cryptocurrency though
every government made digital currencies like cryptocurrency and has a centralized system. And regarding the condition of the price of each cryptocurrency if the government make own digital currency, I just predict that cryptocurrency prices will soar, the reason is quite clear that the government is replacing the currency they are with digital currency and it is likely that everyone will know bitcoin and altcoin and they are interested in owning them.

[yndye]

We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?

It already happened in Japan so it is highly likely that other countries would consider creating their own coin too if they think that they would be able to control the flow of money if they would consider creating their own coin. In that way, their fear of the coins being used for illegal activities would be controlled by creating their own platform and letting the people exchange the different cryptocurrencies to their own coin before they can use it to buy or pay something.

[Commotheon]

We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?

If ever banks and the government will truly create their own coin, I think they will be treated like normal Altcoins and nothing is special about them and the fact that they are not decentralized just like any other cryptocurrency which investors and enthusiasts supported for privacy and security purposes.  I don't even see them as a threat to Bitcoin and one example in this discussion is Ripple and will soon add Petro of Venezuela which is a state owned crypto.

There are already more than 2000 coins available on coin market cap and I think there is no need for another bunch of coins for each country. It  will just not serve the purpose.

[Rustamm]

We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?

Given that the cryptocurrency is becoming increasingly popular, the governments and their central banks will be forced to create their own centralized cryptocurrencies. It is still difficult to say what fate awaits these coins and how far they will take root in our world. Most likely, they will supplement ordinary national money and will go mainly within the state itself. In any case, we need this experience. I do not think that these centralized coins will have a negative impact on the decentralized cryptocurrency. On the contrary, I expect from this a positive effect of greater interest of people throughout the cryptocurrency.

[ice18]

Governments and banks already have their own currency and it is the fiat currency. It is unlikely that they will ever try to create their own cryptocurrency. Even if they do try create it, it will not be decentralized. A centralized currency will hardly be able to cryptocurrency.

I agree crytocurrency is really volatile and banks do not want such kinds of coins they want stable coins if they want to consider creating a system using a blockchain technology would be beneficial to banks rather than creating its own digital currency with minimal uses.

[prtty2gal2]

They can definitely create their own coins but it wouldn't be like any coin we know. It would be highly centralized and definitely intensely checked for all the possible tax evasion and all the money changing hands. It won't be allowed to look the chain by regular people and only the finance department of the government will have the rights to check it and considering how the world is corrupt already and politicians allow it to be I am sure there will be some there too.

They will try to catch even a single dollar you try to not pay taxes for and/or spend on something they do not allow or whatever however at the same time they will allow people to just do whatever illegal and tax evasive stuff they want to do if they are rich enough and pay them for it as well.

[tosmartak]

We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?

If ever banks and the government will truly create their own coin, I think they will be treated like normal Altcoins and nothing is special about them and the fact that they are not decentralized just like any other cryptocurrency which investors and enthusiasts supported for privacy and security purposes.  I don't even see them as a threat to Bitcoin and one example in this discussion is Ripple and will soon add Petro of Venezuela which is a state owned crypto.

There are already more than 2000 coins available on coin market cap and I think there is no need for another bunch of coins for each country. It  will just not serve the purpose.

The fact that there are more than 2000 coins in the space, does not mean that is all we are ever going to end up with in the long run, as a lot of them will get done with and disappear from the space as I believe like we are already seeing, we will start seeing some clean up process in most exchanges. Secondly, additional coins from the government is not something that would cause any issue, it will just be some legalized fiat which in this case is implemented on the blockchain, it is somehow going to happen, but I do not see it changing much anyway.

[charlotte04]

We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?

Well, if banks and Governments see cryptocurrencies that could bring them a nice future ahead of everyone they would eventually adapt it and make their own coin someday.

[aoihs00]

I guess there are no odds at all becaus they will not try it. They already got proper channelled system where fiat works systematically. Creating coin for their system will create unwanted diversion per se. The diversion in terms of its utility, circulation and trading. Fiat is best because it is in control and far more stable than cryptographs. There is no point really creating it and making things worse for themselves.

[anjho.ace]

90 percent chance that government and banks will create their own cryptocurrency.
Blockchain is the main solution to have a better world.
Technology is getting faster and better, currency must be better also and has the development needed.

[St4yInTh3D4rk]

We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?

Anyone can create their own crypto currency with their own blockchain if they want so governments also can do and many governments were did that too but I don't see any difference in the digital fiat money with centralized crypto currency so people won't choose their cryptos over the current money because both are just same but when it comes to cryptos it is backed up by nothing so people have chances of accepting it over centralized coins.

[Michael_Cox]

I don't think they will. At this point the government or banks may not even be that threatened of cryptocurrency's existence like people think they are. Why? Because they already have a  currency that they are controlling and/or manipulating: fiat.

[Blanca_Gregory]

It is really possible to see many banks and governments creating their own coin in the near future. I believe blockchain technology is developing at a very fast rate and pretty soon, governments around the world would have no choice than to adopt this amazing world of blockchain technology. Hence I for see more cryptocurrencies as new projects emerges.

Hmm... idk. Blockchain technology is developing at a fast rate, sure, but is it enough for the government to adopt to cryptocurrency just because they don't have a choice? If the government eventually decides to create their own coin, not having a choice is the least of the reasons I could think of why they would want to join the crypto world.

[serjent05]

They do havr their own currency depending on which country they belong and if incase they decide to have their own cryptocurrency I dont think it will affect Bitcoin and other cryptocurrencies. For sure bank’s own cryptocurrencies will be backed up by the government and it will only be centralized and regulated. No rival compared to other cryptocurrency’s decentalization.

[Burogh]

Banks have their own currency; fiat. Which they control. Banks operate on a centralized system.
Cryptocurrency is decentralized and there is little control over the market. Sure the creators can control the technology and usecases. But that doesn't give them direct influence over the market, once you have sold up during your ICO, investors can choose to do as they wish with their assets.

If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?

I don't see how it would threaten bitcoin anymore than any other currency created by other devs.
If it is linked to banks it's safe to assume it is centralized and would be an avenue to utilize the blockchain technology. Which some governments are already doing.

I am agree with you. If that cryptocurrency issued by government or central banks, its must be centralized and central banks still control the supply. Inflation happen because money supply always increased by central banks

[jbarcenas18]

There are no odds if the government and banks create their own coin because they have the money to put in to it and the laws that the government should apply for that.