Government-issued cryptocurrencies...Are they the Future?

[setialovers]

I don’t think government issues cryptocurrencies will have any effect or make any difference ! Government won't support anything that is not centralized because they want to control everything ! Now if they make a coin , that means they will control everything about it ! If this happens , we have lost everything !

Cryptocurrency issued by the government will not give effect to the cryptocurrency market because it is stable coin. In addition to unlimited supply, the government's cryptocurrency is digital money which is the same as the paper money we hold

[1715111052]

1715111052

[1715111052]

1715111052

[Bezobraznike]

I don’t think government issues cryptocurrencies will have any effect or make any difference ! Government won't support anything that is not centralized because they want to control everything ! Now if they make a coin , that means they will control everything about it ! If this happens , we have lost everything !

Cryptocurrency issued by the government will not give effect to the cryptocurrency market because it is stable coin. In addition to unlimited supply, the government's cryptocurrency is digital money which is the same as the paper money we hold

    There is a catch, government issued crypto-currencies can`t be like digital money, they will be on Blockchain technology. That`s the huge difference.
They will need to adjust some laws, they will have to be more transparent.
    Government issued crypto-currencies will come late I think. While they arrive Bitcoin and some other coins will be a global thing. People are realizing that.

[torpedo]

To me,  government currency may have some future provided that the government itself is acting in a modern way, not clinging to the past.

[cheezcarls]

The only issue that I have with these government-issued cryptocurrencies is that they’re centralised. It means that they would still control them for good. They’re not going to give us transparency like what decentralized cryptocurrencies such as Bitcoin, Ethereum, etc., are capable of.

Like what China and India are doing these days when they’re planning to issue their own “cryptocurrency”, which in fact are considered digital fiat.

I honestly don’t think they are the future. They will be having unlimited supply, compare to the limited supply of Bitcoin and other altcoins that would appreciate or depreciate their value.

[Abiky]

We should know that everything created by the government needs to be under their control, so with them creating any coin it will still be centralized because they would like to monitor and control all users. So in my own opinion, I think Bitcoin will still be at an advantage over government issued coins owing to its total decentralized nature, in this case still being the future of cryptocurrencies; especially when users or people gets to know they can really own and manage their assets without the government having control over it.

Exactly. After all, governments don't want to lose their power over their citizens. One way or another, they'll implement a system that will keep track over people's transactions worldwide. This gives them a greater level of control than the traditional monetary system of today, since it's possible to freeze transactions, trace the origin and destination of funds, and even track criminal activity with ease. All of this is largely attributed to the benefits of Blockchain technology. Central Banks and governments worldwide have realized this, making them eager to launch a digital currency within the not-so-distant future.

With due time, government-issued cryptocurrencies will start rolling in within the mainstream world. I believe that there will be an ample separation between digital Fiat and traditional cryptocurrencies like Bitcoin and Ethereum. This is because, the former will be extremely centralized while the latter will continue to remain decentralized for the foreseeable future. Given how many banks have formed partnerships with several crypto companies and startups, it seems very likely that government-issued cryptocurrencies are the way of the future. But it may take some time though, as people are still accustomed to using physical Fiat worldwide. Old generations have found it hard to adopt the latest technologies like Blockchain and AI. But newer generations (especially millennials) have found it easy to do the switch. Eventually as time goes by, we'll be able to experience the transition from physical cash into digital cash within the mainstream world.

Nonetheless, the time frame of a government-issued cryptocurrency may take longer than we've thought as Blockchain technology is still not mature for the world. There's a lot of work to be done, especially in the areas of scalability and fungibility. Once those limitations are solved, then Blockchain could start rolling into traditional areas of finance as we know it. Just my opinion

[aioc]

Nonetheless, do you think that government-issued cryptocurrencies are the future? Or will it be just an idea that will pass away over time?

We have yet to see this happen unless one country creates a token and that token is well adopted in the country of origin and hit the top ten in the market, then that will become a new trend, in the past, there were attempts, but it did not succeed some countries are now planning, let's see their implementation.

[Febo]

Government-issued cryptocurrencies...Are they the Future?

If they will be opensource and fully decentralized, then dont matter who start/issue them. Question is why would they do that since such allready exist. Why not help develop existing one?

[Abiky]

New investor already feel the new revolutionary technology, so blockchain uses are rising continuously. This is 100% sure physical cash no more will be use in future and some government has interest in digital currency.

That's certainly true, mate. As investors continuously demand cryptocurrencies, Blockchain adoption will increase at an unprecedented rate over time. Governments have noticed the true benefits of Blockchain technology, which has led them to perform tests in order to launch a digital currency of their own within the future. The trend is similar to the Internet, where now its a necessary tool for communication, finance, and more. Blockchain technology, although still new to the world, could greatly disrupt our economic system as we know it. Governments could launch their own digital currencies with ease, but it will be up to the people whenever they adopt this new kind of money or not.

Despite this, we're still living in the physical cash era. It may take quite some time before government-backed digital currencies start rolling in for the mainstream world to use. It's not going to be easy, but we'll get there over time. Given the outcome of central Banks and governments adopting Blockchain technology for their own benefit, it seems very likely that government-backed digital currencies are the way of the future. In the end, decentralized cryptocurrencies will continue to be used among everyday people distancing themselves from centralized digital Fiat. Once this happens, we'll never need to conduct transactions with physical assets ever again. Just my thoughts

[JayTrain]

In recent years growth rates of technologies gain steam that has no analogs in the history of mankind, I think that it is possible in the near future, but prezhdenuzhno to undertake many reforms, it is necessary to adopt the relevant laws, consciousness and thinking of ordinary people has to too will change

[Stanlo]

Cryptocurrencies issued by the government can actually outperformed other crypto coins and tokens, its actually what some people are waiting for, they belief that government involvement in crypto will have better results and scam free too but its not what i see, infact there will be more manipulations

[jessyj48]

In anything that government get involved there is no freedom, i still think that its a bad idea if government gets involved in crypto, there will be many manipulations from the government but since this is what many people wants we will see how it goes with the regulation

[joseyphil82]

Adoption rate for cryptos backed by government will be higher than decentralized projects by many developers, i as a person will even add gov backed coins in my portfolio list just to see how things will be after few years, crypto is all about risk taking

[TrevorS]

The government always strives to maintain its power through population control in various ways. The most basic is ordinary money.
I don’t think that something will change too much when the next digital money is created by the government, one way or another they will have certain limitations and control properties.

[gensol]

The government issued coins are not the future everything the government does is for their own interest St that's centralization, keeping them in power to control everything else. Cryptocurrency is about decentralisation which the government can't give.

[upyem2k]

Time will tell as it goes by. Remember this same China banned and suspended lots of cryptocurrency projects and we heard of them building a blockchain network not long from the ban and suspension. Cryptocurrencies will be the future but I doubt if it will be wholly.

[bright4mech]

That is a good one if Government create they own cryptocurrency  and is very transaction is transparent and the blockchain is more reliable for a future used, secondly it we help to fight corruption (Bitcoin).   

[Williams_Leo]

People found peace and freedom in crypto. If government issue crypto coins, do you think people will support it? I don't think so. Then what will be the difference between typical money and cryptocurrency? Just offline and online? We don't know the future, but people will not support centralized cryptocurrency, the STO market is proof maybe!

Finding the freedom of income with crypto is just a common perspective from our community, this number is insignificant, a lot of people in the world don't know about crypto but they know that the government always creates good conditions for them to have development and changes in a safe situation. And with the same belief we have in bitcoin, when the government issues crypto, many people will use it and support it, so many opportunities for these cryptocurrencies to become the future, the government has too much advertising and promotion

[fortunecrypto]

I think government will not do that because it is risky and people will not recognized and patronized because all we know that if the government will launched their own crypto their are so many terms and condition that we need to do and need to follow. And the real essens of using crypto is having hassle free transactions.

For sure. For a country to have their own crypto, it will surely have terms and conditions abiding it. Any transaction made with it, will be monitored. By so doing, they'll be able to control and manipulate the price easily  to their own favor

It's not going to be decentralized anymore but more of a centralized one where they can track their people's use of coins, I have not yet seen one country doing that there are some country preparing to implement that, if there's one country successfully do this, then many countries will follow this trend

[Abiky]

People found peace and freedom in crypto. If government issue crypto coins, do you think people will support it? I don't think so. Then what will be the difference between typical money and cryptocurrency? Just offline and online? We don't know the future, but people will not support centralized cryptocurrency, the STO market is proof maybe!

In some ways, I believe that there will be people that will support centralized digital currencies within the future. After all, there are people that still use centralized Fiat despite crypto's emergence back in 2009. Not everyone will feel comfortable transacting with decentralized cryptos like Bitcoin and Ethereum. Since Fiat currency has been well-known to provide trust, its digital version provided by worldwide governments could very well succeed in the future. Knowing that technology is advancing every step of the way, governments will feel obliged to adopt Blockchain technology for their own benefit or be left behind in the dust.

With Blockchain's prominence within the mainstream world, government-issued cryptocurrencies could be the way of the future. But it may take some time, as most people are still accustomed to traditional forms of money. Credit cards, and physical cash would need to die first before we could experience a whole new world powered by digital cash. One way or another, we'll get there as the world becomes more interconnected each day. All in all, it's safe to say that we're early adopters of Blockchain technology as it hasn't even been fully implemented into the mainstream world yet. Just my thoughts

[jake zyrus]

It's up to the government if they will adopt cryptocurrencies. If they will, citizens won't have any choice but to adopt also. There's a possibility it can be the future if they will continue it. Since they can still regulate it and I think centralized crypto currency will give them more power to control over their people and the flow of their money.