Turkey working on their own digital by end of 2020

[DDante]

Same as china, well what can i say than this is a good news, its finally coming to reality and i feel good about the future of crypto and blockchain especially 2020 bitcoin halving

[bigcash2011]

I think majority of countries will have came up with their national crypto or some will merge their crypto on the basis of region, i would also be excited to hear about new king of legal and regulated exchanges where we can exchange all these national or regional cryptos from and to each other.

[posi]

I think majority of countries will have came up with their national crypto or some will merge their crypto on the basis of region, i would also be excited to hear about new king of legal and regulated exchanges where we can exchange all these national or regional cryptos from and to each other.

I don't understand what you mean by new king of legal and regulated exchanges but both the countries which name were mentioned will definitely have their national crypto available on exchange which KYC and AML features.

[aemma]

Countries nowadays are building their own digital currency; but what does this mean actually? I see it from two perspective, first it shows that blockchain really opened the eyes of the world to more possibilities. Secondly, I see this as a means to more centralization, because these countries will try their best to ensure they monitor their citizens. However, with Bitcoin and other privacy coins, users will still be able to maintain a degree of privacy.

[laskybok]

If Turkey is coming out to do this, I believe more countries will start considering to do launch theirs too. China opened the floor for others to follow to do the same. A time is coming the cryptocurrency that many thought might not last long, will turn to what people are running after.

[BitHodler]

Same as china, well what can i say than this is a good news, its finally coming to reality and i feel good about the future of crypto and blockchain especially 2020 bitcoin halving

It is not good news.... everything countries end up launching is solely meant to further enslave the people using it because governments have more control over their financial system than ever before.

Currently they control the financial system through regulations where financial institutions have to comply with every single law, but this burdensome form of control has many weaknesses that are being exploited left and right.

By having full control over the network directly, they can force through changes effective immediately, either for or against you (mostly against you). It feels good to have Bitcoin as alternative.... it's an escape from this tyranny.

[Aabcde]

I am sure other countries will soon follow when China and Turkey succeed in implementing the blockchain in their countries.
There are definitely crypto lovers who disagree with this because what the country is making is a centralized currency digitalization. But I am neutral, as long as it is beneficial for the country and makes it easier for the people, I cannot say bad words. At least, later, many ordinary people will be aware of the existence of crypto beside their country's coin. And it is hoped they will buy other assets such as bitcoin and altcoin.

It seems government are now seeing the capabilities of Blockchain technology, this could now be now the beginning of digitalization of currency. They create their own cryptocurrency probably because they want to replace or simply dethrone the leading decentralized currency which is Bitcoin. They want to create a cryptocurrency for their people that can be regulated unlike Bitcoin.

The last time I checked the governments which are planning to create their own national digital currency are not planning to replace or dethrone bitcoin but planning to join the crypto race in other not to be left out of the new innovation and also to avoid their national currency been obsolete.

Yes, right. To replace bitcoin is too impossible for a country, the problem is that bitcoin is adopted with a global scale while the use of a country's crypto is only limited to its people. From this, it is clear that bitcoin is difficult to replace.
In addition, a country's crypto is certainly a stable coin rather than a volatile commodity such as bitcoin. So for the people who like to trade, bitcoin is more profitable than the crypto of a country. Because at Stablecoin there is no significant price that can give market excitement because of profit.

[yulionoo]

cryptocurrency with blockhain technology has attracted many countries to create their own cryptocurrency. and after China now Turkey will also make its own crypto. I'm not too surprised because we know that 20% of cryptocurrency users are Turkish citizens. so do not be surprised if at this time they will make their own crypto. with more and more countries making their own crypto I think it will make the cryptocurrency market more crowded. but I'm sure those stable coins won't be able to beat bitcoin. bitcoin will remain the king of cryptocurrency.

[magicrypto]

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also  joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

Right, it is a new trend right now, i think in near future most of the countries will launch their own cryptocurrencies, but what it changes?! Currency which is totally centralized and regulated..

[bettercrypto]

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also  joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

Will see it if ever it successfully launch in 2020. This will be a great news because the countries gradually embracing the beauty of digital currency. Turkey is a large country and I am sure if it will enter this industry, then it will be benificial for cryptocurrency users and traders. Regardless with the competition in libra and bitcoin, I think soon the development from digital currency will arise.

[jazmuzika217]

I think the reason why countries are now creating their own crypto is they the opportunity that they need to change their life in terms of investment and daily transactions that be more easy. And the there is also a good benefits to the netizens and users if their country launched their own crypto and one of those benefits is legalization and wide acceptance.

[upyem2k]

Just like it is believed that blockchain technology is the future of the world, every countries that doesn't want to keep dwelling in the past will sure embrace cryptocurrency in order not to be behind when the blockchain revolution truly arrives.

[sana54210]

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also  joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

Since bitcoin has become so terrifying to them, these are just methods being derived by these countries to flood the market with centralized currency and the reason why they are quickly doing that is because of the people that are yet to know about bitcoin in their own country which I know it is still quite much, so they want to quickly introduce the coin to them, but I believe they will fail in this their centralized projects.

This is not the first time we are seeing all these centralized projects, many of them has been released as we can see that we have close to 3000 projects in the market which most of them have even promised to do better than bitcoin, but even with all their promises, there is still nothing to write home about as many people would still prefer to use bitcoin.

[boltz]

Remember the race to south pole ? Now its a race to create its own currency for every country that gets involved into blockchain projects in order to try to be above Bitcoin , which will never happen even if its about USA , China , Turkey or Russia. However , the positive idea is that more countries are seeing blockchain as something they must develop in order to prepare their citizen to adopt cryptocurrencies ( even if in Turkey we know that there are a lot of cryptos supporters ) so I would expect more countries to join in this race in the next months/years.

[Snowwy]

Though any sovereign country cryptocurrency will be centrally managed, it's still a good news for the entire cryptocurrency industry. Countries should continue to make their centralized cryptocurrency and we also will continue to work on decentralized ones and at the end, blockchain technology will be the winners.

[nicecrypto]

Why suddenly some countries working on having their own crypto,  is this the best way of adoption? Why can't they work some good coin already existing in the market to give more strength to such project, I already read about China now I read about Turkey I wonder which country will be next in line. I hope this will bring positive things to crypto.

[ahyadinnn]

if some countries make their crypto, of course other countries will also follow it because surely they won't want to miss this advanced technology, I'm sure in the future other countries will make their crypto

[jootn2kx]

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also  joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

These might be called cryptocurrencies, but they won't be real cryptos. Countries won't launch coins that they cannot control. We have already seen many times what cryptos launched by governments and major companies look like. Venezuela's Petro is one example. Facebook's Libra (while not launched yet) is another. China would rather shoot itself in the foot than release a real crypto, otherwise they would have just accepted BTC. These will be centralized coins controlled by governments and companies, nothing more.

[r32godzilla]

I do not understand what is happening. How they can say about these digital currencies that they are cryptocurrencies? Are they decentralized? Could be mined by everyone? Everyone has same rights in the ecosystem?

They already have digital money in their bank accounts, you can send them electronically? So what they are really creating?

[plast555]

Yes, that is right,

Such countries, such as Venezuela, Turkey, etc., are showing more interest in the cryptocurrency as inflation is very high.

Therefore, these economically weak countries are trying to improve their economies by using blockchain technology.

Perhaps it will not be the ultimate solution, but it is worth trying.