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

[shield132]

I think the following may happen:
1. Government creates own coin - This may happen if they decided to just offer crypto alternative of fiat backed by government, it will have absolutely same value as regular money has but at the same time we have to consider the fact that such options are usually offered from banks, there is no need to create another currency in country. So most likely it won't happen.
2. Banks create their own coin - I think there is a high chance it will happen and for example will use this model: Imagine you made deposit and get 4% early income once a month or at the end of year. Bank will offer that deposit in coins which you'll hold on your bank's account. If you try to withdraw it, you'll violate contract and get the money you deserve back according to contract. But there is possobility of alternative, to trade with chat coins. Someone who also has deposits and is looking for another deposit, will buy these coins from you (possibly in  slighly less price) and all contract agreement will go on his own. You'll withdraw your deposit in better way.

[deisik]

There is some test of digital yen ongoing
Biggest will be digital Yuan i have been reading from legitimate sources that China is working on it.Circle stable coin will be something like us digital dollar
That kind of coins will be norm in some future i guess
It will cut trading costs

Most fiat monies are already digital these days

I'm almost 100% sure that what you refer to here has nothing to do with government cryptocurrencies based on the blockchain technologies. Most likely, the "digital" something is a payment system which allows people to make payment bypassing banks or already existing payment channels like Visa or MasterCard. If it is in fact something different, let me know and I'll happily admit being wrong. But not till then

[MahalQu2612]

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?

They may able to create their own coin but still they cannot do the same thing what bitcoin can give to any users. Due to the reason is Bitcoin was decentralized based system while government/banks are both centralized based concepts. So I think, instead of the banks or government will create their own, better not to do it but to accept the concepts of Bitcoin is the good one choice for sure.

[Crypdon]

We're seeing it already. Venezuela made their own, and iran is making their crypto rial, russia doing theirs on the rouble. Last week we saw jpm make their own coin. It's happening right now, crypto is going mainstream!

[daarul50]

If the government and banks have the same thoughts as us (crypto supporters) and they are aware that the technology used by bitcoin is really needed to be used as a financial solution now then they are likely to make their own coins and I support that matter. because with them making their own coins, more and more people will be using blockchain technology. I don't feel worried and don't feel bitcoin will be threatened because, in the end, they will support bitcoin also by providing exchanges between bitcoin and their coins made.

[CoinEraser]

We're seeing it already. Venezuela made their own, and iran is making their crypto rial, russia doing theirs on the rouble. Last week we saw jpm make their own coin. It's happening right now, crypto is going mainstream!

As it looks, the spread of crypto continues to advance and is becoming more and more mainstream. It's still the beginning of it, but as you can see, it's progressing inexorably. You certainly don't have the feeling of mainstream in all countries yet, but it's getting more and more. It's certainly only a matter of time before it becomes mainstream in more industrial countries, but at some point it will be. 

[Argoo]

This is already happening through the creation by states of their stable coins. Now this is clearly seen in connection with the creation by the Chinese government of its own stable coin CBDC, which is actually a digital yuan.
Although these coins are completely different from a decentralized cryptocurrency, they can have a significant impact on it, since people can use stable coins more as a means of payment. This will have both positive and negative sides. Cryptocurrency continues to evolve.

[qwertyup23]

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?

I think the government already has their own cryptoCURRENCY which is regulated and controlled by their respective central banks- which is the FIAT.

I doubt that the government would attempt or create their own coin as it is self-defeating and contradicts the very nature of a cryptocurrency. What the government wants is control and regulation. If they make such coin, it will inevitably become a decentralized form of cryptocurrency which cannot be traced down in its transactions.

[riso2015]

I don't think it will threaten Bitcoin, rather it will make ordinary people aware of the existence of Bitcoin et al. Indeed, I have heard that the government and the Bank will make their own coins. They are still afraid against Crypto which could threaten the Bank's system.

[alexsandria]

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?

Isn't it contradicting 'cause they have the authority controlling the fiat they own which on the other hand cryptocurrency isn't own by anyone. I think it would be the same as altcoin if the bank would create their own crypto. Nevertheless, bitcoin would dominate it in market price.  As stated in this https://futurism.com/six-banking-giants-have-decided-to-partner-to-create-a-new-cryptocurrency 6 banks already started partnering their own crypto in crypto community. However, their crypto slated at end of 2018. So, it ain't even a threat to bitcoin as long as bitcoin dominates the market.

[blckhawk]

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?

I don't think it would much be an impact. There are several altcoins currently existing in the market and if they decided to join, they'll just another cryptocurrency out there in the condense altcoin market. And people wouldn't trust it so much since the government/banks want everything monitored, the odds of their crypto being decentralized is low. They'll probably implement KYC and all data would pass through their central system, which isn't very much attractive to people.

[yoseph]

Am very sure that China is going to create their very own cryptocurrency just like Maduro did in Venezuela but one thing I want to know is if the value of the crypto will rise in value like the way bitcoin and gold rises in value. If the crypto that the governments makes doesn't am certain that it's not going to be a threat to Bitcoins at all.

[Google+]

I think it will happen and the possibility of the government will make its own cryptocurrency coin, if the government really makes its own coin then this can be embarrassing for the government and at the same time make the cryptocurrency condition grow because many will use cryptocurrency and cryptocurrency price conditions can improve.

[Sahyadri]

Digital currency is the future of currencies.  Sooner or later, almost every country will bring in digital currencies as there are many benefits and security associated to digital currency. But it will be a better version to the present fiat currency. It will be centrally controlled as economy cant run without a central monetary policy. This not only help in keeping the economy in check but it also increases the trust of the users. Many banks and countries are on the way of creating their own digital currency as it helps in making real cross border transactions at low cost with transparency.

[Ailmand]

It might take some time since we can see that most countries are still not that pro-crypto yet, and some are really against it. Maybe once we reach a point where each country starts using crypto and blockchain technology and starts using it in businessess, companies, and the whole economic section, that is the point where the government/banks will adjust and start making their own currency for their services.

[btcdie]

that's what I expect, the government or the central bank to make its own crypto currency. especially like stable coins and low transaction costs, maybe it's very easy for governments and central banks to do. if that happens, maybe the bitcoin market will be increasingly crowded, because everyone will know the importance of blockchain technology.

[EdvinZ]

I think that governments of different countries and banks can really start to create their own centralized digital money on the blockchain. This would be the most interesting thing for them, because they themselves would be able to establish the issue of these coins and do with them whatever they want. I think in the future Bitcoin and other decentralized cryptocurrencies may face competition from centralized government cryptocurrencies and bank digital currencies.

[Aying]

They can create if they want, but what are the purposed of those coins? it will be more interesting if we use it? we use crypto currency for freedom of our funds and make high profits. government and banks can support it? maybe, not. they want to create crypto currency on their purpose only. true knowledgable users won't understand it and take a risk of their tokens and coins. it won't stop bitcoin with their simple tricks.

[Renampun]

I'm sure 100% of governments in all countries will turn their currencies into fiat money and cryptocurrency,
The US & China are the world benchmarks today,
if these two countries are able to develop their own cryptocurrencies then other countries will follow,
and changes in the price of cryptocurrencies issued by the government will not be like Bitcoin or Altcoins, it will be more to the Stable coin.

[deisik]

Am very sure that China is going to create their very own cryptocurrency just like Maduro did in Venezuela but one thing I want to know is if the value of the crypto will rise in value like the way bitcoin and gold rises in value. If the crypto that the governments makes doesn't am certain that it's not going to be a threat to Bitcoins at all

Petrocoin (or whatever its name) was a complete failure

While the rumors of China creating their own variety of cryptocurrency have been circulating since 2016 (if not earlier). But the truth is, if they really wanted to do something to that effect, they would have done it long ago. Some folks (for example, Christopher Giancarlo, the ex-head of the CFTC) are even suggesting the blockchain-based dollar run by the cartel of banks and thus not controlled by the Federal Reserve. How likely is that? I don't think that very much