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Author Topic: Will Governments Ever Accept Blockchain-Based Cryptocurrencies?  (Read 427 times)
Xising
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April 18, 2019, 07:16:04 AM
 #41

Governments don't like cryptocurrencies since they think they can't make profit out of it. Although they are not against blockchain technology, most of the governments have not accepted cryptocurrencies yet.
Good things take time and I believe crypto will also take a significant time to be accepted globally. Things were not so good in the beginning days of crypto but it is now.
Many tech companies are implementing blockchain solutions which is creating more awareness of blockchain and crypto towards people and if things go positively then governments might start accepting cryptocurrencies soon.

I understand your point, but it's not always the case mate. I think, governments are just being cautious on how they will label cryptocurrency, and in turn, how they will let their people or citizenry use it for their own personal reasons. As we all know, cryptocurrencies, even though how profitable they are, it also has some negative beliefs people tied up to it due to its volatility and inconsistency in value, thus, it wouldn't be a surprise if people would have some qualms and doubts on using it through and through. And, as part of the power of a government, it is their responsibility to safeguard their citizenry against bad investment because it may affect the local market and economy as a whole. Also, these days, there are a number of governments that have already accepted the concept of block-chain technology but with caution.
justspare
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April 18, 2019, 08:09:01 AM
 #42

The way cryptocurrencies have been getting popular all over the world, the day is not far away when the governments would also be forced to accept it in some form or other. Many large corporations and financial institutions have already started adopting it.
Some countries have already adopted crypto currencies already, although they are few and not the big countries, but very soon, it will extend to bigger countries. I can see that the process of the adoption by bigger government is already fast approaching as France has already taken up the initiative to push EU member into regulating and adopting crypto, when I read this news on this forum, it made me believe strongly that crypto will surely soon become very popular worldwide.

If we get government to adopt crypto even if they have to regulate it to some extent because I know the system will not give chance to full regulation, then there is nothing to really worry about again as regards the future.
creeps
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April 18, 2019, 08:31:32 AM
 #43

They'll have no other choice. Eventually, almost all countries will be forced to accept crypto. Because I believe that soon she very densely will enter our life and all people will use it.
That would be the possible scenario in the future because each government can't stop this. Many countries already supported cryptocurrency, and it will be hard for other countries to reject this technology because they are chance for them to be left out of the road. We need the support of the government, let's continue to convince them that they should also adopt cryptocurrency not for the good of the country but for the benefits of its citizen.
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