Countries testing digital assets in 2020

[JessicaVL]

Digital Assets are still not considered to form part of the mainstream, but things are changing. More and more governments are recognizing the potential of blockchain and cryptocurrency technology, and implementing their own coins. We’ll be taking a look at all of the countries testing digital assets in 2020, and where this technology could take us.

Dubai
Dubai announced their cryptocurrency Emcash in 2017 - which became the world’s first state-backed digital asset. Emcash tokens run on a native blockchain, which will officially be implemented in 2020. This blockchain will be used for government and non-government services, including paying school fees, utility charges, and money transfers.

Russia
Russia has also shared it’s interest in creating a government cryptocurrency called Cryptoruble. Announced by President Vladimir Putin in 2017, the cryptocurrency will be linked to Russia’s Central Bank. The coin is currently still in development.

Japan
Japan is expected to launch their own digital asset called J-Coin ahead of the Tokyo Olympics in 2020. Japan is one of the most progressive countries in Asia when it comes to cryptocurrencies. J-Coin will act as a supplement to Japanese Yen (JPY), and will be exchanged 1:1 with the JPY. Citizens will be able to buy goods and services with the digital asset.

J-Coin Pay, a digital wallet associated with the coin, has already been launched.

 https://twitter.com/TahsinAygun/status/1193617219210686464

Sweden
Another one of the countries testing digital assets in 2020 is Sweden. The Northern European state is considering launching its own state-backed cryptocurrency called the E-Krona, in an aim to make the state totally cashless. Currently only 20% of the businesses in Sweden accept cash transactions, so a digital currency would help move the country forward to becoming a cashless society. 


Canada.
Although the Canadian government has not publicly announced that they are testing a state-backed cryptocurrency, the Canadian central has expressed interest in potentially issuing a digital asset controlled by the Central Bank which acts as a digital version of the Canadian Dollar. In July 2018, the Canadian Central Bank conducted a study called the  “Central Bank Digital Currency and Monetary Policy” which highlighted the potential benefits of a state-backed digital asset.

https://www.youtube.com/watch?v=Wo1Y7PMDIjM

Why the sudden change of heart?
Up until quite recently, many countries were actually quite resistant to the idea of cryptocurrency and blockchain technology. After taking a look at the countries testing digital assets in 2020, it’s quite clear they’ve had a change of heart. This can be largely attributed to the immense success of Bitcoin, a change in attitude towards the digitization of our future in general, and the implementation of Facebook’s very own Libra coin. As cryptocurrencies become more accepted on a societal level and go mainstream, it’s likely that more and more governments will see the almost limitless possibilities that blockchain and digital assets have to offer.

https://www.youtube.com/watch?v=v8yKNmeU30U&t=26s

Blockchain and crypto technology can be used to further advance our collective society in so many ways - helping us adapt to an increasingly tech-based future. It’s up to our governments to implement them in ways that will benefit not only their citizens, but their country as a whole.

Let eToro ease you into the cryptocurrency game with their CFD trading. It is the world’s leading social trading platform after all. Learn more at www.etoro.com.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.
 

https://www.etoro.com/blog/market-insights/countries-testing-digital-assets-in-2020/

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[bitsurfer2014]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

Now I'm eager to see on what will transpire on each country's crypto development. Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.? And what will be its effects on global economy?

[crossabdd]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

Now I'm eager to see on what will transpire on each country's crypto development. Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.? And what will be its effects on global economy?

yes, I'm also surprised with this. while there is a lot of news about China that will use a new currency in blockchain-based recent weeks. in my opinion there will be many impacts. especially in the crypto world that we are currently working on. with countries making currencies on the blockchain. it will be increasingly difficult for bitcoin to compete in any country. because the currency built by the country will be accepted in any country and can be controlled and monitored.

[audaciousbeing]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

Now I'm eager to see on what will transpire on each country's crypto development. Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.? And what will be its effects on global economy?

You don't have to be surprised because every article is based on the opinion of the writer and its at his discretion to decides what makes it into his article so far other claims are not false. It could also be the timing because as I can remember it was until recent that there was news filtered across the crypto space about China looking the way of blockchain.

The change in heart is not something that is far fetched. Its just discovery that the world have come to embrace the digital age and its not going anywhere its not left for countries to want to join in or be left behind. I see other countries joining the train as we move into the future.

[cosmofly]

This is very good news about the crypto market but it is quite bad for the economies of many countries. What do you think about the corruption of the political system to use money to launder money and tax gradually fading in a confusing way?
I think there is no reason for governments to create cryptocurrencies for anything, this should be for private businesses. I am still from my old point of view that any government that creates their coin is suspicious.

[panganib999]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

Now I'm eager to see on what will transpire on each country's crypto development. Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.? And what will be its effects on global economy?

This. Ngl, China is at the front of the news with regards to crypto most of the time, and was the only country I actually knew of that was starting to create their own coin. Every country is basically preparing to what could possibly be the replacement for Fiat and are trying to dominate the market before it even happens. It's pretty much a race between all of them to see how things could possibly change with their respective coins.

If you actually look at it from one angle, it kinda seems like BTC would be the universal coin that is used for basis when digital currency replaces fiat. Though i don't really know if that works or meshes well with stablecoins.

[Twentyonepaylots]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

I do too, guess China will clean their state before initiating this. Last week I've read a news that China is hunting down illegal registered exchanges and frauds that uses cryptocurrency, sadly BISS exchange were forcely closed due to conflict with China's control regulation along with 30 local exchanges. Maybe after a few months China will launch its own blockchain, we know Xi Jinping is eyeing on blockchain since then.

Now I'm eager to see on what will transpire on each country's crypto development. Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.? And what will be its effects on global economy?

Cryptocurrency will have a vital role in our financial system, that's for sure. USA, China with European countries will lead this innovation, Google, IBM and Microsoft will provide the necessities. But definitely future challenges will not be easy especially with security and economic aspect. Bitcoin or new coin? What do you think what will it be ?

[Experia]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

Now I'm eager to see on what will transpire on each country's crypto development. Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.? And what will be its effects on global economy?

Maybe because they are already listed on those countries who adopted the cryptocurrency already, while countries above are new to enter this cryptoindustry this might really effect the crypto market because those are the countries that can have a huge effect to others.

[doomistake]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

What is so surprising about it, they hate cryptocurrency and they had shut down all the local exchanges in their country, automatically, they would not be included in the list.

Now I'm eager to see on what will transpire on each country's crypto development. Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.? And what will be its effects on global economy?

The effect of it would be simple, if it's going to be successful where big countries you've mentioned fully implanted the use of cryptocurrency, I am sure third world countries would also do the same to improve their economies as well.

[panganib999]

What is so surprising about it, they hate cryptocurrency and they had shut down all the local exchanges in their country, automatically, they would not be included in the list.

They hate BTC, not crypto. They bloody hate anything they can't or don't have control of. Whyd you think Baidu came into existence.

The effect of it would be simple, if it's going to be successful where big countries you've mentioned fully implanted the use of cryptocurrency, I am sure third world countries would also do the same to improve their economies as well.

Success isn't simply about planning or partaking into joining the big countries with their stable coin shenanigans. Adoption of third world countries of crypto is great and all, but I'd rather them concentrate develop on the MOST needed aspects of their current countries. I see no need for them to fight with other big countries.

[bitsurfer2014]

You don't have to be surprised because every article is based on the opinion of the writer and its at his discretion to decides what makes it into his article so far other claims are not false.

With such a hot topic and its wide scope, I guess it would be ideal if the publisher of that article could have at least mentioned China being in the limelight for the past several months now with regards on its plan to roll out a state backed cryptocurrency so that it would appear more comprehensive.

It could also be the timing because as I can remember it was until recent that there was news filtered across the crypto space about China looking the way of blockchain.

I beg to disagree. The article was just published 2 days ago that I can't understand why China's plans were never discussed since that news was consistent at the headlines of every crypto news sites.

This. Ngl, China is at the front of the news with regards to crypto most of the time, and was the only country I actually knew of that was starting to create their own coin.

Correct! Of all the countries mentioned on that article, none of which was ever consistent on its media propaganda on announcing its national cryptocurrency plans except China.

What is so surprising about it, they hate cryptocurrency and they had shut down all the local exchanges in their country, automatically, they would not be included in the list.

I cannot say China hate cryptocurrencies when in fact they had deliberately announced their plans to adopt a new state backed cryptocurrency and the report on the shutdown of local exchanges, if its true, could very well indicate a preparation for staging its planned crypto roll out.

The effect of it would be simple, if it's going to be successful where big countries you've mentioned fully implanted the use of cryptocurrency, I am sure third world countries would also do the same to improve their economies as well.

I am not very sure of what will happen next if those plans pushes through but I would assume there will be some kind of unforeseen issues that may occur to it or maybe some economic side effects could arise with it. So lets wait and see.

[abhiseshakana]

Blockchain does have a WOW effect in all parts of the world.

After the price skyrocketed at the end of 2017, industrial changes due to Blockchain technology have increasingly accelerated, particularly the financial and banking industries. The massive use of digital currencies will make financial institutions and governments predicted to be disrupted if they cannot innovate.

The world of cryptocurrency is very volatile and dynamic. Bitcoin is predicted to be an investment in Gold (Gold 2.0), which will be widely used for storing assets other than as a digital currency used for internet transactions. Along with the increasingly high phenomenon of adoption of digital currencies in various regions, it is likely that this digital currency will be widely used for business transactions without territory and time limit. this phenomenon will change the conventional business and industrial models that are firmly rooted before.

Responding to the emergence of bitcoin, governments in various countries have a diverse attitude. Starting from the open, half controlling, controlling, to prohibit. But of all the governments in the world, there is one similar attitude, namely that no one recognizes bitcoin as a legal tender (legal tender). So in any country, no one considers bitcoin as an official currency.

If previously the government had been waiting and seeing towards technology, financial technology. now the government chooses a "test and learn" attitude. Together with actors and other parties test and conduct experiments on the development of technological innovation in the financial sector. This is the government's new paradigm in responding to the digital age.

Looking ahead, technological development is inevitable and cannot be dammed, including in the financial sector. The growth of bitcoin, or cryptocurrency, going forward is difficult to predict. But governments in any country act as guardians of stability and protect their citizens. So, as in many countries, the prohibition of bitcoin is one step to maintain stability. But that does not mean that the government is closed to innovation, because in many cases, including the government is trying to balance risk factors with efforts to develop innovation. So that stable coins appear in each country.

[bakasabo]

Cant see Estonia in the list. They were on of the first who accepted and support cryptocurrency.
As well as where the hell is China ? China wants to bring blockchain to national level.

[jossiel]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

Now I'm eager to see on what will transpire on each country's crypto development.

Been looking for the inclusion of China too because of the news that were reported few days ago about them.

Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.?

I guess USA is already in but due to the stricter regulations they are implementing, it seem that projects starting on that country are being filtered and monitored hardly.

[ecnalubma]

These countries are fascinated by blockchain technology that’s why they are taking early move for adoption. I just wonder if they will run it right away publicly or implement it by sector, this is very challenging for their side but lets see what will happen during its early phase.

[Xxmodded]

Wonderful if have country want testing digital assest in 2020 because give chance for bitcoin and altcoin become legal currency payment transaction, they have give opportunities hot to use bitcoin as currency and investment assets. Got respond I think from their people where many country want to test bitcoin as digital assets in 2020 and could increase their economic crisis at the future.

[X-ray]

These countries are fascinated by blockchain technology that’s why they are taking early move for adoption. I just wonder if they will run it right away publicly or implement it by sector, this is very challenging for their side but lets see what will happen during its early phase.

Not really fascinated but they just don't want to miss out the technology and want to test it themselves to find out whether the technology deserves to be adopted or not and currently they are doing experimental to the blockchain system. even big companies like samsung seems doing a research and says that blockchain could be effective and beneficial for election to further the democracy as well as efficient remmitances.

But there are still many flaws that haven't been found yet so we will figure it out in no time if the pace is getting faster.

[Google+]

this can be very good news, I see a large country like dubai which has begun to try to implement payments using cryptocurrency can have a very good influence on the movement of cryptocurrency prices at the exchange place will be expensive because it will increase demand, hopefully more countries will start using cryptocurrency as one of the best transactions.

[zhekinsp]

When a crypto currency backed by assets in government then its just the replica of currency fiat money system there will be no transparency on how these things getting value.But they are considering cryptos that will be the only positive but what if they ban all the decentralized cryptos and made their own digital currency as only legality of payments? Will make decentralized future into a big question.

[suzanne5223]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

I guess the reason why China was mentioned is because current on protest in Hong Kong which I believe happened because the people demanded democratic restructure , creation of independent investigation body for police violence/cheat, and a fair voting system. Therefore, if the protest continue the creation of the national crypto may not happen.

Now I'm eager to see on what will transpire on each country's crypto development. Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.? And what will be its effects on global economy?

The national crypto currency which was planned by the countries mentioned above will definitely trigger a global crypto race cause every governments have a bodies which propose was to study and make depth research about blockchain and crypto benefits.

[Hippocrypto]

These countries are fascinated by blockchain technology that’s why they are taking early move for adoption. I just wonder if they will run it right away publicly or implement it by sector, this is very challenging for their side but lets see what will happen during its early phase.

Not really fascinated but they just don't want to miss out the technology and want to test it themselves to find out whether the technology deserves to be adopted or not and currently they are doing experimental to the blockchain system. even big companies like samsung seems doing a research and says that blockchain could be effective and beneficial for election to further the democracy as well as efficient remmitances.

But there are still many flaws that haven't been found yet so we will figure it out in no time if the pace is getting faster.

Those are just future plans on their country, so we better wait for the results. Furthermore we can't say a counter reactions that contradicts to that, but the most important is we know what's their capability to meet the future developments on these countries.
I can really see more positive effect if this will be totally incorporated to the planned adoption, so let's see what will happen next.

[clickerz]

These countries are fascinated by blockchain technology that’s why they are taking early move for adoption. I just wonder if they will run it right away publicly or implement it by sector, this is very challenging for their side but lets see what will happen during its early phase.

Well, that is the trend now, going digital. Since blockchain technology is new and emerging, many countries try to have their own crypto assets/currency. This is good since this is also a part of crypto awareness and hope for adoption. We are seeing more implementation of this project in the future for every country as they try to utilize this new technology.

[tambok]

These countries are fascinated by blockchain technology that’s why they are taking early move for adoption. I just wonder if they will run it right away publicly or implement it by sector, this is very challenging for their side but lets see what will happen during its early phase.

Not really fascinated but they just don't want to miss out the technology and want to test it themselves to find out whether the technology deserves to be adopted or not and currently they are doing experimental to the blockchain system. even big companies like samsung seems doing a research and says that blockchain could be effective and beneficial for election to further the democracy as well as efficient remmitances.

But there are still many flaws that haven't been found yet so we will figure it out in no time if the pace is getting faster.

Those are just future plans on their country, so we better wait for the results. Furthermore we can't say a counter reactions that contradicts to that, but the most important is we know what's their capability to meet the future developments on these countries.
I can really see more positive effect if this will be totally incorporated to the planned adoption, so let's see what will happen next.

I have seen the potential growth of crypto here in our country too especially now that they 'hyip' scam becomes minimal as people  has been more aware or it and more become vigilant, and that they already learned their lesson from those past experience of other people, and our government is now open to  make crypto legal and open for public.

[SaShiRaJaVu]

I have seen the potential growth of crypto here in our country too especially now that they 'hyip' scam becomes minimal as people  has been more aware or it and more become vigilant, and that they already learned their lesson from those past experience of other people, and our government is now open to  make crypto legal and open for public.

There are more scams in the market which are taking place and there are some people who are fighting against them, there are millions of people who are not aware of everything and they are the targets, if a government will regulate the market then you will not see many scams and ponzi in the market because everyone will be aware of the scams.

[el kaka22]

I think the interest got higher because they realized there are tons of people who could invest in global tokens or currencies from everywhere in the world. So, Russia knows that they could make a digital currency that means nothing and worths zero but could get millions of dollars for it, maybe even billions. Which is why they are looking into it and nothing else.

However, some of the other countries like Japan for example is doing it because they want to see their country develop into something better, they are not a ruthless capitalist country, they do have a very high standard of living and cost of living but they do have a very tiny unemployment as well so they want to improve the finance world to the level of their own with digital currency implementation.

[Clement Kaliyar]

However, some of the other countries like Japan for example is doing it because they want to see their country develop into something better, they are not a ruthless capitalist country, they do have a very high standard of living and cost of living but they do have a very tiny unemployment as well so they want to improve the finance world to the level of their own with digital currency implementation.

Japan is a progressive country and they are willing to experiment with the financial sector and so is the reason they started accepting bitcoin while the rest of the countries were confused on what to do with the new technology and the market. The blockchain technology will be implemented in most countries because the use case is vast and they will be implementing to improve the infrastructure.

[bitsurfer2014]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

I guess the reason why China was mentioned is because current on protest in Hong Kong which I believe happened because the people demanded democratic restructure , creation of independent investigation body for police violence/cheat, and a fair voting system. Therefore, if the protest continue the creation of the national crypto may not happen.

I may have to disagree with that idea since I think China's cryptocurrency ambition will eventually push through, whatever the outcome on Hongkong's political dilemma.

Rather, I believe China wasn't included on that list because I think, eToro - the publisher of that article was cautious enough not to preempt any media releases with regards to China's crypto plans for fear of possible repercussions from China since they have an office at Shanghai and I think that exclusion is meant to protect eToro's business interests on that country. Imho

[gantez]

This is a good news. 2020 to my view will actually be a testing ground not only for the countries above mentioned but for the general adoption of cryptocurrency.  The light is on already , more testing will line up.

[Twinkledoe]

I think the interest got higher because they realized there are tons of people who could invest in global tokens or currencies from everywhere in the world. So, Russia knows that they could make a digital currency that means nothing and worths zero but could get millions of dollars for it, maybe even billions. Which is why they are looking into it and nothing else.

However, some of the other countries like Japan for example is doing it because they want to see their country develop into something better, they are not a ruthless capitalist country, they do have a very high standard of living and cost of living but they do have a very tiny unemployment as well so they want to improve the finance world to the level of their own with digital currency implementation.

I feel a lil bit of hate towards Russians.  But seriously, when these blockchain projects came into fruition, we encountered a lot of Russian scammers. There was a time that if it is a Russian-backed crypto, expect that you will be scammed. They really have bad reputation in the community.
But for countries like Japan or maybe Singapore (which I am surprised that it is not included in OP's list), they are pretty serious in exhausting the potential of blockchain towards the development of their country.

[meliodas]

As the prices of the cryptocurrencies rises and as the market becomes more mature, it is indeed a good indication for the developing countries to try digital assets like cryptocurrencies where they can invest the small proportion of their money into it and also establish blockchain based systems in their country to improve the quality of their service and security.

[huige007]

These countries are fascinated by blockchain technology that’s why they are taking early move for adoption. I just wonder if they will run it right away publicly or implement it by sector, this is very challenging for their side but lets see what will happen during its early phase.

Well, that is the trend now, going digital. Since blockchain technology is new and emerging, many countries try to have their own crypto assets/currency. This is good since this is also a part of crypto awareness and hope for adoption. We are seeing more implementation of this project in the future for every country as they try to utilize this new technology.

Crypto currencies are one of the products of blockchain technology. There can be others created too. Many companies are planning to improve existing systems with the help of blockchain as this will make systems more secure. Bitcoin has attracted many investors and the number keeps on increasing which drew attention of governments. They wanted to make bitcoin as their currency but it is decentralized so making own national crypto coin is the only left option.

[Beparanf]

As the prices of the cryptocurrencies rises and as the market becomes more mature, it is indeed a good indication for the developing countries to try digital assets like cryptocurrencies where they can invest the small proportion of their money into it and also establish blockchain based systems in their country to improve the quality of their service and security.

Many sees the potential it can give as easy transaction payment as well as form of investment. Government can create their own token for their advancement. As long as they will implement it in a proper way it will surely adopted by their people. Blockchain transparency and security can really help to run their government free from corruption.

[worle1bm]

Most of the governments around the world have appreciated the blockchain technology due to its advantages like transparent and less corruptive ways over making transactions.They really want to be updated with latest technology and adopt digital forms of payment to implement in their system but most probably they have mindset on developing their own centralized coin under their control but if they empower cryptocurrencies then it would have great impact on the market and global economy will be boosted by their usage.Hope for its betterment and price rise soon.

[hatshepsut93]

First stablecoins, now governmentcoins (if they will ever be released, which I doubt a bit). Centralized players embrace blockchain technology, but not in a way that crypto noobs think - they just make centralized crypto and blockchains because of the hype, they are afraid to miss out on the next big thing in tech. Countries and big companies aren't immune to FOMO, and it actually doesn't cost them much to do all these blockchain tests, since all they have to do is hire developers - there's no hardware or electricity costs, because they don't use PoW.

[X-ray]

As the prices of the cryptocurrencies rises and as the market becomes more mature, it is indeed a good indication for the developing countries to try digital assets like cryptocurrencies where they can invest the small proportion of their money into it and also establish blockchain based systems in their country to improve the quality of their service and security.

Many sees the potential it can give as easy transaction payment as well as form of investment. Government can create their own token for their advancement. As long as they will implement it in a proper way it will surely adopted by their people. Blockchain transparency and security can really help to run their government free from corruption.

Want it or not the people will be forcefully adopting the crypto created by the government one way or another but not for investment because centralized government coin usually works the same way as how any stablecoin out there does. It will be backed up  either by assets or fiat so there's no such thing as investment. However, the government could adopt blockchain for election aswell because it will improve the democracy by its transparent nature.

[fiulpro]

You should add Germany too .
It's not change of heart its like the need of the hour , they are doing all this because they understand that it is actually a very serious topic now , since the digital assets are now everywhere they need to either go with the flow and be 10 years in the past and it is also not just the cryptocurrencies but also the blockchain technology which is sliding down in every sector very slowly and I think ..it's just because the government is realizing the good sides , they are also getting benefited and so are the people thus ..it's just like adding another stock market but this time a decentralized one.

[Brunus]

If the states begin to accept the idea of the crypto, it means that they have found a way to control it and - above all - to tax it.
They will probably use threats and violence as usual.
But I think that with a little attention, those who don't want to be known can enjoy freedom for a while yet.

[drlukacs]

In fact, it's normal for many countries to experiment with different types of businesses in the crypto market. As you can see, there are many such businesses in the market but they are completely shitcoin and there is no sign of growth. Therefore, I think that these guidelines are not having a positive effect on the crypto market. it only yielded a result that entrepreneurs are curious about blockchain technology in this market, and it has no intention of increasing business value here. do you think so ?

[gentlemand]

Canada.
Although the Canadian government has not publicly announced that they are testing a state-backed cryptocurrency, the Canadian central has expressed interest in potentially issuing a digital asset controlled by the Central Bank which acts as a digital version of the Canadian Dollar. In July 2018, the Canadian Central Bank conducted a study called the  “Central Bank Digital Currency and Monetary Policy” which highlighted the potential benefits of a state-backed digital asset.

Canada came up with Mintchip and abandoned the idea in 2014 or so. I wonder what's changed.

If any of these come about the case for crypto will be several times stronger. The grip they'll have over your money will be far, far tighter with a governmentcoin than the current lash up of a system.

[bitbunnny]

This is actually nothing new. Countries, especialy their central banks and other financial institutions are experimenting with cryptocurrencies for a while. They are also preparing a packages of regulation and that all together should prepare them to formaly introduce cryptocurrencies into system. The way how is this going to happen is still not known but many countries have decided not to ignore cryptocurrencies anymore.

[InvoKing]

State backed cryptocurrencies or FIAT stored in banks used by credit cards, what's the difference? Blockchain implement? Great but that's not the point of having a cryptocurrency AFAIK!
Manipulation of its value will be very important and exaggerated...

[JeffBrad12]

If the states begin to accept the idea of the crypto, it means that they have found a way to control it and - above all - to tax it.
They will probably use threats and violence as usual.
But I think that with a little attention, those who don't want to be known can enjoy freedom for a while yet.

If the digital asset they are about to release is centralized im pretty sure they will have the authority to control it and taxing it is just another small matter. It will just become another centralized coin that are just using blockchain system for gimmick because they don't want to get left behind because blockchain has become the trend meanwhile it's no different than any centralized payment method that digitalise cash. but the whole thing is still on experimental phase and I doubt it will get to another phase.

[boris singer]

I think China will implement it first because until this year they are very serious in preparing the business foundation connected to the blockchain, their testing step will be quick because they only need to connect DCEP with Alibaba and other ready companies.

Also don't forget about the digital lira (turkey), news about them has been circulating since early November and will reportedly start testing in late 2020.

[meliodas]

If the states begin to accept the idea of the crypto, it means that they have found a way to control it and - above all - to tax it.
They will probably use threats and violence as usual.
But I think that with a little attention, those who don't want to be known can enjoy freedom for a while yet.

If the digital asset they are about to release is centralized im pretty sure they will have the authority to control it and taxing it is just another small matter. It will just become another centralized coin that are just using blockchain system for gimmick because they don't want to get left behind because blockchain has become the trend meanwhile it's no different than any centralized payment method that digitalise cash. but the whole thing is still on experimental phase and I doubt it will get to another phase.

That is their main goal, they don't want to see a lot of people that are relying on a decentralized system so as soon as possible, they are creating their own blockchain system so they can have the control and so there will be no chance for them to be left behind. At the end of the day, it always depend to the people on how they are going to use the different resources around them.

[bitcampaign]

I hope my country is included in the list to be one of the countries that also want to test digital assets next year, even though I know my country is a lagging country, but the issue of digital payments has spread in my country, digital payments here do not use blockchain technology so I doubting its safety, maybe with this the government in my country wants to test digital assets in the next year using blockchain technology

[shoreno]

I hope my country is included in the list to be one of the countries that also want to test digital assets next year, even though I know my country is a lagging country, but the issue of digital payments has spread in my country, digital payments here do not use blockchain technology so I doubting its safety, maybe with this the government in my country wants to test digital assets in the next year using blockchain technology

what country your living with  ? the country listed by the op were only few and i doubt that your country is in on its list but dont be sad because those lists were only few of the countries that will test cryptos by 2020 because if we can only take a research on the net we will see that there are many countries that are planning the same thing  . you said your country already use digital payments  ? so there was a big possiblity that they will upgrade the use of it and will add crypto on thier service  .

[Aying]

I hope my country is included in the list to be one of the countries that also want to test digital assets next year, even though I know my country is a lagging country, but the issue of digital payments has spread in my country, digital payments here do not use blockchain technology so I doubting its safety, maybe with this the government in my country wants to test digital assets in the next year using blockchain technology

I am sure your country will accept and include crypto someday. and I am sure that they are aware on china's news that blockchain system will be use to improve more. Don't lose hope because we know that crypto as a digital asset is a potential in upcoming years, your government will also benefit with the digital way of transactions and everyone in your country will need it to gain more improvement.

[Lorence.xD]

I hope my country is included in the list to be one of the countries that also want to test digital assets next year, even though I know my country is a lagging country, but the issue of digital payments has spread in my country, digital payments here do not use blockchain technology so I doubting its safety, maybe with this the government in my country wants to test digital assets in the next year using blockchain technology

One of the improvements in the third world country is the adapting of using cryptocurrency in the first place just some states have just supported the use of crypto because they know it has potential will grow in the future. One of the most prominent countries that accept today the use of crypto is the china one of the most famous and most influential countries of all time, I think they want to adapt and line with the highest countries like singapore. There's a lot of benefits in using crypto, fast transaction and secured and less hassle in queue lines.

[Dart18]

Well look at that.
They are creating their own instead of just using bitcoin itself.
It looks like they are more hungry into taking control with the financial industry.

Will it be supported by their people or will it be forced. Mandated? We don't know. But I am sure this kind of strategy is to just forget all those old crypto currency that is being created specially bitcoin.

[Cherylstar86]

Well look at that.
They are creating their own instead of just using bitcoin itself.
It looks like they are more hungry into taking control with the financial industry.

Will it be supported by their people or will it be forced. Mandated? We don't know. But I am sure this kind of strategy is to just forget all those old crypto currency that is being created specially bitcoin.

As the technology become developed the crypto currency has it's own way by those users thinking that having their own is much more income. Though, it needs more time to develop but its possible as it will be also depends by the support of many here in crypto currency community.

[bitcampaign]

I hope my country is included in the list to be one of the countries that also want to test digital assets next year, even though I know my country is a lagging country, but the issue of digital payments has spread in my country, digital payments here do not use blockchain technology so I doubting its safety, maybe with this the government in my country wants to test digital assets in the next year using blockchain technology

I am sure your country will accept and include crypto someday. and I am sure that they are aware on china's news that blockchain system will be use to improve more. Don't lose hope because we know that crypto as a digital asset is a potential in upcoming years, your government will also benefit with the digital way of transactions and everyone in your country will need it to gain more improvement.

That's what I hope with the large number of digital payments in my country, the government will also look to test blockchain technology, because we know that many have used blockchain technology out there, 2020 is probably a good year where technology will be seen in almost all countries including about this digital asset

[sockpuppet1911]

*snip*
Why the sudden change of heart?
Up until quite recently, many countries were actually quite resistant to the idea of cryptocurrency and blockchain technology. After taking a look at the countries testing digital assets in 2020, it’s quite clear they’ve had a change of heart. This can be largely attributed to the immense success of Bitcoin, a change in attitude towards the digitization of our future in general, and the implementation of Facebook’s very own Libra coin. As cryptocurrencies become more accepted on a societal level and go mainstream, it’s likely that more and more governments will see the almost limitless possibilities that blockchain and digital assets have to offer.

https://www.youtube.com/watch?v=v8yKNmeU30U&t=26s

Blockchain and crypto technology can be used to further advance our collective society in so many ways - helping us adapt to an increasingly tech-based future. It’s up to our governments to implement them in ways that will benefit not only their citizens, but their country as a whole.

Let eToro ease you into the cryptocurrency game with their CFD trading. It is the world’s leading social trading platform after all. Learn more at www.etoro.com.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.
 

https://www.etoro.com/blog/market-insights/countries-testing-digital-assets-in-2020/

Seriously, it most likely has nothing to do with the success of bitcoin, because this development is far away from bitcoin
It has all to do with removing physical cash that can't be tracked and total control of money and surveillance.
What we should be speculating is what will replace the physical cash, and will it be borderless?
I don't want to sound like a tinfoil but when you take a look at the history, have you been wondering what will be the ultimate store of value when these governments fall?
Almost almost every asset can be easily confiscated, you should invest into those that can't be imho.

[Spaffin]

I hope my country is included in the list to be one of the countries that also want to test digital assets next year, even though I know my country is a lagging country, but the issue of digital payments has spread in my country, digital payments here do not use blockchain technology so I doubting its safety, maybe with this the government in my country wants to test digital assets in the next year using blockchain technology

I am sure your country will accept and include crypto someday. and I am sure that they are aware on china's news that blockchain system will be use to improve more. Don't lose hope because we know that crypto as a digital asset is a potential in upcoming years, your government will also benefit with the digital way of transactions and everyone in your country will need it to gain more improvement.

That's what I hope with the large number of digital payments in my country, the government will also look to test blockchain technology, because we know that many have used blockchain technology out there, 2020 is probably a good year where technology will be seen in almost all countries including about this digital asset

Blockchain technology is really interested in many countries and many government agencies, including various international companies, so the blockchain has a great future.  But if we talk about the prospects of cryptocurrency, then I recall the report of the Big Seven, where the cryptocurrency was recognized as dangerous for investment, because it is unstable and therefore it will be quite a while before the government legalizes cryptocurrency and digital assets will be recognized around the world.

[rez303]

Cant see Estonia in the list. They were on of the first who accepted and support cryptocurrency.
As well as where the hell is China ? China wants to bring blockchain to national level.

Estonia is a small country and their capitalization is not too much for the crypto market so they are not shortlisted. in China, they only support blockchain technology and in addition, they hate crypto. China's prime minister has spoken out on the elimination of China-based exchange exchanges and is determined to eliminate fraudulent businesses in their home countries.

[slaman29]

State backed cryptocurrencies or FIAT stored in banks used by credit cards, what's the difference? Blockchain implement? Great but that's not the point of having a cryptocurrency AFAIK!
Manipulation of its value will be very important and exaggerated...

100% agree here.

People were raving all about Bakkt before, and Ripple going through what was it now? 200? 300 banks? Or all those huge shipping companies taking blockchain and what not into their supply chain? or LIBRA.

Yes, good news for blockchain. But it's all forgetting the very aspects of Bitcoin that made it great and creating more corporate and centralized crypto. So what? This isn't good news it's neutral news. Could even sound bad to me.

[Pamadar]

Cant see Estonia in the list. They were on of the first who accepted and support cryptocurrency.
As well as where the hell is China ? China wants to bring blockchain to national level.

Estonia is a small country and their capitalization is not too much for the crypto market so they are not shortlisted. in China, they only support blockchain technology and in addition, they hate crypto. China's prime minister has spoken out on the elimination of China-based exchange exchanges and is determined to eliminate fraudulent businesses in their home countries.

China wanted to take full control, this is the very reason why they wanted to take advantage of blockchain system, they see the big pictures and if they can maximize this system considering to have their own versions of cryptocurrency, they wanted to make sure that it will run smoothly and will not be
interrupted of those existing coins that's why they really wanted to have a full access and control to any business related to cryptocurrecny.

[Vivasenka]

You forgot about Belarus. We have created very good conditions. Here is more detailed:

https://openledger.info/insights/belarus-passes-new-blockchain-and-crypto-regulations/



And great projects like this have already been launched:

https://exchange.currency.com/tokenized-securities-overview

white paper:

https://exchange.currency.com/static/Currencycom_WP_V2.pdf

[airdnasxela]

Ain't surprising that (most) countries included here are those developed countries. Since they are capable of innovating, they can try various things including the implementation of digital assets. It's easier for them to experiment and try on blockchain technology. But with developing countries like mine, it would be hard...
Although it's a good thing that they are into blockchain, it doesn't mean they also support decentralized cryptocurrency. They'll just end up creating their own currency.

[BitSat19]

I was also very surprised that China is not in list but after reading too many posts about this now feeling they are already too much ahead so they not need to be in this list but still op missing few countries those now understanding this technology and its effects which are helping to create too many good ways for humanity as Germany, New Zealand already giving too many soft policies for this crypto world hopefully we will have some more in near future.

[LUCKMCFLY]

Not only the countries named OP, I think that adoption in terms of Bitcoin and Cryptocurrencies will be massive by 2020, it is easy to determine, for these reasons:

1.- Trade war between the U.S. and China.

2.- Stablecoins War, (Libra Vs Cryto. China)

3.- Possible entry of the Digital dollar by the U.S.

4.- Possible cryptocurrencies developed by banks, eg: European Central Bank. (ECB Official Says Digital Currency Could Be an Alternative to Cash, coindesk.com)

In general, the atmosphere that is coming for 2020 I see it from the most positive point of view despite these possible events, because it will revolve around adoption towards Bitcoin, and the price will rise because everyone will want to have Bitcoin just thinking that they can Reach more of your ATH.

[kesmex]

I was also very surprised that China is not in list but after reading too many posts about this now feeling they are already too much ahead so they not need to be in this list but still op missing few countries those now understanding this technology and its effects which are helping to create too many good ways for humanity as Germany, New Zealand already giving too many soft policies for this crypto world hopefully we will have some more in near future.

China, Russia, and Japan will be the countries that have the best blockchain technology,
I don't know about the United States, it seems like they have no interest here

[GideonGono]

I was also very surprised that China is not in list but after reading too many posts about this now feeling they are already too much ahead so they not need to be in this list but still op missing few countries those now understanding this technology and its effects which are helping to create too many good ways for humanity as Germany, New Zealand already giving too many soft policies for this crypto world hopefully we will have some more in near future.

China, Russia, and Japan will be the countries that have the best blockchain technology,
I don't know about the United States, it seems like they have no interest here

On the contrary, I had read a news that the United States had invested in research about blockchain technology for a couple of years already and seems like the might release their own cryptocurrency just like what the China is planning. You might think that the United States being uninterested because of their opinion against the cryptoworld in general but the thing is that what they don’t like in my opinion is the decentralized characterisitc of Bitcoin. Japan had been the most active one I suppose in adapting the blockchain technology.

[Renampun]

China, Russia, and Japan will be the countries that have the best blockchain technology,
I don't know about the United States, it seems like they have no interest here

I do not want to speculate, but if China and Russia issue legitimately and even use their own country's cryptocurrency then the United States will not remain silent, they will surely make their own cryptocurrency for fear of being left behind by these two countries that are eternal rivals of the US.

[Nolimitz84]

Digital Assets are still not considered to form part of the mainstream, but things are changing. More and more governments are recognizing the potential of blockchain and cryptocurrency technology, and implementing their own coins. We’ll be taking a look at all of the countries testing digital assets in 2020, and where this technology could take us.
Russia
Russia has also shared it’s interest in creating a government cryptocurrency called Cryptoruble. Announced by President Vladimir Putin in 2017, the cryptocurrency will be linked to Russia’s Central Bank. The coin is currently still in development.

Where's the evidence? I have not seen or heard anything like this from the President.It's all rumors.It seems to me that in silence everyone is slowly thinking about creating their own cryptocurrency.You at least forgot to specify additionally Germany, China and France.

[suvo05]

China, Russia, and Japan will be the countries that have the best blockchain technology,
I don't know about the United States, it seems like they have no interest here

I do not want to speculate, but if China and Russia issue legitimately and even use their own country's cryptocurrency then the United States will not remain silent, they will surely make their own cryptocurrency for fear of being left behind by these two countries that are eternal rivals of the US.

Every Gov wants to do that. But they are playing it safe. Only some of the few countries have the courage to implement it because it could bring an
unknown situation in the economy. If any Gov get succeed then all will follow to make their own crypto assets.   

[Amel]

China, Russia, and Japan will be the countries that have the best blockchain technology,
I don't know about the United States, it seems like they have no interest here

I do not want to speculate, but if China and Russia issue legitimately and even use their own country's cryptocurrency then the United States will not remain silent, they will surely make their own cryptocurrency for fear of being left behind by these two countries that are eternal rivals of the US.

For China now, they have legitimately issued their own cryptocurrency. But I think the United States still insists on opposing the existence of cryptocurrency, although they will have to make sure it will be centralized, but this is still not possible in my opinion.
The United States is a country that does not approve the existence of crypto openly, especially D.Trump was able to make an extraordinary FUD yesterday.

[dimox]

whooa, i wanna live in that country. wsnns touch, how it feel, to live with bitcoin everyday. actually i already live with digital fiat, i use all of digital money service in daily, but crypto still cant be reach. unfortunate if in some country ban or not use all of service about crypto

[alrose]

Undoubtedly, it is very good that many countries are testing the use of cryptocurrencies,but it seems to me that no country will refuse to completely abandon Fiat money.Only stablecoins supported by national currencies have one chance.In the rest, due to the volatility, many countries will not officially want to work with any cryptocurrency on the market.

[LUCKMCFLY]

China, Russia, and Japan will be the countries that have the best blockchain technology,
I don't know about the United States, it seems like they have no interest here

I do not want to speculate, but if China and Russia issue legitimately and even use their own country's cryptocurrency then the United States will not remain silent, they will surely make their own cryptocurrency for fear of being left behind by these two countries that are eternal rivals of the US.

For China now, they have legitimately issued their own cryptocurrency. But I think the United States still insists on opposing the existence of cryptocurrency, although they will have to make sure it will be centralized, but this is still not possible in my opinion.
The United States is a country that does not approve the existence of crypto openly, especially D.Trump was able to make an extraordinary FUD yesterday.

Well, in reality, many countries want to implement this Blockchain technology, we cannot forget Spain that has implemented the technology in many processes seeking its optimization, they have been doing great, initially Venezuela wanted to do it through a cryptocurrency, but it turns out that no It came out as they wanted, because it has many flaws and was classified as scam, perhaps because it was launched by a government that does not have any type of reliability.

However, the US will not launch its digital dollar in at least 5 years, according to them they do not need it for now, but if they support Libra in a discreet way if it does things well in legal financial terms, remember that Mark in one of His statements said he was going to boost the US economy through cryptocurrency, and therefore triggered fear in China, as it is not included in its stablecoin as a backup, which will emerge as a possible increase in the hegemony of the dollar in the world.

In this article they talk about it: https://cointelegraph.com/news/steven-mnuchin-does-not-expect-us-to-issue-digital-dollar-in-next-5-years

[Karmakid]

Undoubtedly, it is very good that many countries are testing the use of cryptocurrencies,but it seems to me that no country will refuse to completely abandon Fiat money.Only stablecoins supported by national currencies have one chance.In the rest, due to the volatility, many countries will not officially want to work with any cryptocurrency on the market.

I agree. Most of the countries who are now trying the world of cryptocurrency are now going to make their own version of a cryptocurrency since the traditional or the most of the cryptocurrencies that we have here in the internet is so volatile which is not perfect for a country because it will have a huge effect on the progress of the economy.

[Hallmader]

Undoubtedly, it is very good that many countries are testing the use of cryptocurrencies,but it seems to me that no country will refuse to completely abandon Fiat money.Only stablecoins supported by national currencies have one chance.In the rest, due to the volatility, many countries will not officially want to work with any cryptocurrency on the market.

I agree. Most of the countries who are now trying the world of cryptocurrency are now going to make their own version of a cryptocurrency since the traditional or the most of the cryptocurrencies that we have here in the internet is so volatile which is not perfect for a country because it will have a huge effect on the progress of the economy.

The progress in economy in a certain country will have minimal or even zero connection with the government trying to create their own or adopt an operating cryptocurrency. If the economic progress of countries will rely on their decision whether to adopt cryptocurrency or not then we would already have seen majority of the countries jumping into it. But right now how many countries are there that even considered coming up with their own or making use of the topmost cryptocurrencies in the market today? There is almost none.

[naikturun]

yes I am also surprised, even though China is estimated to be the largest market holder in crypto.
and also Germany has adopted crypto, has been approved by banks and the local government.
it will certainly have an impact on the economy, such as the trade war between China and the US now those who adopt crypto may have an additional effect.

[acdc]

I don't like cryptocurrencies issued by governments, cryptocurrencies are popular because it's decentralized and anonymous. If a currency was issued by a government it was no different from Fiat currency. In fact, Venezuela once issued their currency and that coin was certified by oil but it eventually encountered a disastrous failure.

[alg0mizer]

Looks like your post is a bit outdated. For example, Russia want to ban crypto instead to create own

[Janation]

I was also very surprised that China is not in list but after reading too many posts about this now feeling they are already too much ahead so they not need to be in this list but still op missing few countries those now understanding this technology and its effects which are helping to create too many good ways for humanity as Germany, New Zealand already giving too many soft policies for this crypto world hopefully we will have some more in near future.

China, Russia, and Japan will be the countries that have the best blockchain technology,
I don't know about the United States, it seems like they have no interest here

Don't say that as they made it.

These countries are developing the said technology. China as the leading country on these developments are making a noise on the internet and I hope other countries will join in on this as well. Blockchain technology doesn't always sit on cryptocurrencies, it can be used to other things as well.

[xZork]

Cryptocurrencies issued by the central bank are unlikely to appeal to investors. Because if they like oil or gold they just need to buy the stock of companies, if they like the currency of a country they just buy and hold that currency. People have almost no reason to buy a cryptocurrency of an issuing country. In the case of a coin guaranteed by oil or gold, when I have one, how can I exchange that coin for oil?
Besides, if a coin is issued by the government, does the person who wants to own the coin need to declare his / her identity when he wants to own it? If identity is mandatory, there are few people willing to invest.

[Gi01]

Digital Assets are still not considered to form part of the mainstream, but things are changing. More and more governments are recognizing the potential of blockchain and cryptocurrency technology, and implementing their own coins. We’ll be taking a look at all of the countries testing digital assets in 2020, and where this technology could take us.

Dubai
Dubai announced their cryptocurrency Emcash in 2017 - which became the world’s first state-backed digital asset. Emcash tokens run on a native blockchain, which will officially be implemented in 2020. This blockchain will be used for government and non-government services, including paying school fees, utility charges, and money transfers.

Russia
Russia has also shared it’s interest in creating a government cryptocurrency called Cryptoruble. Announced by President Vladimir Putin in 2017, the cryptocurrency will be linked to Russia’s Central Bank. The coin is currently still in development.

Not doubting the credibility of your message but i guess the whole community in here would be glad to have some references regarding all these positive developments. However, i think most countries would follow as well but none of them have decided to adopt bitcoin, ethereum or any of the major cryptocurrencies. That seems kind of a worry in someway you know. I mean if this happens don't you think holding bitcoin and other coins will be worthless?

[monineklutak]

Digital Assets are still not considered to form part of the mainstream, but things are changing. More and more governments are recognizing the potential of blockchain and cryptocurrency technology, and implementing their own coins. We’ll be taking a look at all of the countries testing digital assets in 2020, and where this technology could take us.

Dubai
Dubai announced their cryptocurrency Emcash in 2017 - which became the world’s first state-backed digital asset. Emcash tokens run on a native blockchain, which will officially be implemented in 2020. This blockchain will be used for government and non-government services, including paying school fees, utility charges, and money transfers.

Russia
Russia has also shared it’s interest in creating a government cryptocurrency called Cryptoruble. Announced by President Vladimir Putin in 2017, the cryptocurrency will be linked to Russia’s Central Bank. The coin is currently still in development.

Not doubting the credibility of your message but i guess the whole community in here would be glad to have some references regarding all these positive developments. However, i think most countries would follow as well but none of them have decided to adopt bitcoin, ethereum or any of the major cryptocurrencies. That seems kind of a worry in someway you know. I mean if this happens don't you think holding bitcoin and other coins will be worthless?

Bitcoin doesn't need to be adopted by the state, but regulations regarding bitcoin that the country must have,
if the country has its own crypto currency is good, because Bitcoin will always be there and demanded by everyone

[Cherylstar86]

Digital Assets are still not considered to form part of the mainstream, but things are changing. More and more governments are recognizing the potential of blockchain and cryptocurrency technology, and implementing their own coins. We’ll be taking a look at all of the countries testing digital assets in 2020, and where this technology could take us.

Dubai
Dubai announced their cryptocurrency Emcash in 2017 - which became the world’s first state-backed digital asset. Emcash tokens run on a native blockchain, which will officially be implemented in 2020. This blockchain will be used for government and non-government services, including paying school fees, utility charges, and money transfers.

Russia
Russia has also shared it’s interest in creating a government cryptocurrency called Cryptoruble. Announced by President Vladimir Putin in 2017, the cryptocurrency will be linked to Russia’s Central Bank. The coin is currently still in development.

Not doubting the credibility of your message but i guess the whole community in here would be glad to have some references regarding all these positive developments. However, i think most countries would follow as well but none of them have decided to adopt bitcoin, ethereum or any of the major cryptocurrencies. That seems kind of a worry in someway you know. I mean if this happens don't you think holding bitcoin and other coins will be worthless?

Bitcoin doesn't need to be adopted by the state, but regulations regarding bitcoin that the country must have,
if the country has its own crypto currency is good, because Bitcoin will always be there and demanded by everyone

Every country has its own law and should follow the rules and regulations across the country. Here in our country crypto currency is legal in which bitcoin can be use for the transaction but it will still depends the availability of stores. Basically, bitcoin can be converted to our own fiat just to have an easy and smooth transaction and can be also accessible through any remittance here in our place.

[huige007]

I was also very surprised that China is not in list but after reading too many posts about this now feeling they are already too much ahead so they not need to be in this list but still op missing few countries those now understanding this technology and its effects which are helping to create too many good ways for humanity as Germany, New Zealand already giving too many soft policies for this crypto world hopefully we will have some more in near future.

China, Russia, and Japan will be the countries that have the best blockchain technology,
I don't know about the United States, it seems like they have no interest here

Do not take the present super power that lightly. United State is the hub of technology. All the giants are there. Google, Amazon, Facebook, Microsoft, IBM, Apple, NASA, NSA and the list goes on. In my opinion, it will exceed all other countries in blockchain technology too. These companies hire the best of the best tech geeks from all over the world. Crypto currencies and blockchain are going to have good future with this country.

[jostorres]

You forgot to mention China, there have been a lot of news that they will be releasing their own cryptocurrency any time from now. News has it that the move by China to create a cryptocurrency was inspired by the Facebook Libra.

Unfortunately for Libra, their plans didn't work out due to skeptical regulators and some key partners (PayPal and eBay)  in the Libra association have pulled out. But I strongly believe that they can still work it out after they have settled with the regulators. They still have other big names on their side: PayU, Uber, Spotify, Vodafone, etc. This time around China is ahead of them and will soon be releasing their own cryptocurrency.

[cotton ball]

You forgot to mention China, there have been a lot of news that they will be releasing their own cryptocurrency any time from now. News has it that the move by China to create a cryptocurrency was inspired by the Facebook Libra.

Unfortunately for Libra, their plans didn't work out due to skeptical regulators and some key partners (PayPal and eBay)  in the Libra association have pulled out. But I strongly believe that they can still work it out after they have settled with the regulators. They still have other big names on their side: PayU, Uber, Spotify, Vodafone, etc. This time around China is ahead of them and will soon be releasing their own cryptocurrency.

China become big country have testing payment using digital currency, they have try and adoption for every transaction using digital payment like PayPal, eBay and now want to adopt using bitcoin as legal currency, war trade with United State make China never use USD for every transaction selling their product out country and keep using digital as payment transaction.

[Oneandpure]

You forgot to mention China, there have been a lot of news that they will be releasing their own cryptocurrency any time from now. News has it that the move by China to create a cryptocurrency was inspired by the Facebook Libra.

Unfortunately for Libra, their plans didn't work out due to skeptical regulators and some key partners (PayPal and eBay)  in the Libra association have pulled out. But I strongly believe that they can still work it out after they have settled with the regulators. They still have other big names on their side: PayU, Uber, Spotify, Vodafone, etc. This time around China is ahead of them and will soon be releasing their own cryptocurrency.

China have been legal using bitcoin as currency payment before and they don't need to test digital assets in 2020, maybe Russia have been issues last two years become country will legal using bitcoin as currency digital payment. How ever Russia become competitor for United State and never use USD as their payment transaction for other country and interesting use bitcoin as digital currency.

[S4VV4S]

Yeah, we will see in the next year there will be many countries will make their own Crypto, this is because they already know how great the Blockchain system. In addition to the countries you have mentioned above, there are also countries that have legalized Cryptocurrency as a legal currency in their country, China. Yeah I'm sure there will be many countries that will follow China.

[bobitza]

In the current era of technology 4.0, many countries are using digital assets. I think this is also a new test. Making payment via bank will be easier and faster. But for now, digital currencies are plummeting. What to do to make the digital money position.

[iv4n]

These countries are testing digital assets, or to be more specific, blockchain for years. Of course we cant see everything they do, or to hear for that, we know about rumors that big countries are buying bitcoin for years for different purposes, to be strong in the future, or to have for some ransom if they need to.
On this list, and in general, strong nations are implementing blockchain at some low levels, probably its the way for them to test it. Its a trend among strong countries, and I believe in one moment all other countries will start to follow, its a road to mass adoption.

[cryptoangel]

In the current era of technology 4.0, many countries are using digital assets. I think this is also a new test. Making payment via bank will be easier and faster. But for now, digital currencies are plummeting. What to do to make the digital money position.

We can't said plummeting in digital currencies. Because stable coins and volatile coins are available in the market so those are don't like profit, they will hold USDT or some other stable coins. But reality peoples thoughts are make money shortly so they pic some worst tokens or altcoins they feel later. We know Bitcoin and top altcoins are growing again so those are want profit just invest and wait for next bull run. I hope some countries already start the cryptocurrencies so hope it will raise slowly on entire world.

[AniviaBtc]

Yeah, we will see in the next year there will be many countries will make their own Crypto, this is because they already know how great the Blockchain system. In addition to the countries you have mentioned above, there are also countries that have legalized Cryptocurrency as a legal currency in their country, China. Yeah I'm sure there will be many countries that will follow China.

But there are some countries that still think that bitcoin is bad for their economy and not consistent. Not consistent is true but Bad for economy, I think not. Bitcoin can help your economy grow, by this many people in your country will use digital money without hassle.

Although there are some countries who consider bitcoin as a currency, I hope that adopt on it and understand how bitcoin works.

[FairUser]

I think you should add China to this list, after a ban since 2017, China is now focusing on preparing to launch cryptocurrency assets. It is a great action from this country, it will help the market grow if it launches successfully. It is likely that 2020 will be a great year for this market when a series of major countries around the world launch cryptocurrency.

[Assface16678]

I think you should add China to this list, after a ban since 2017, China is now focusing on preparing to launch cryptocurrency assets. It is a great action from this country, it will help the market grow if it launches successfully. It is likely that 2020 will be a great year for this market when a series of major countries around the world launch cryptocurrency.

Today one of the good investment today is using cryptocurrency because the price of it is volatile that every time change, the value changes too, and the government see how does the blockchain can change their improvement in their country. One of the biggest countries adapts the use of cryptocurrency, is China, China has a lot of people that if they learn how does the cryptocurrency work it has a large impact in the market, and also their president supports the use of it to make their transaction more straightforward and less hassle in payment. If the other country sees the changes for the next coming year, they will adopt this too and help the community of the cryptocurrency.

[CyberKuro]

When a crypto currency backed by assets in government then its just the replica of currency fiat money system there will be no transparency on how these things getting value.But they are considering cryptos that will be the only positive but what if they ban all the decentralized cryptos and made their own digital currency as only legality of payments? Will make decentralized future into a big question.

The government aims to create its fiat currency in the form of digital (1:1) based on blockchain technology, you know, blockchain is a good way for transparency.
It's more convenient to carry a card rather than a bunch of cash in your wallet, but the system has to be secure (hacker-proof) to avoid fraud activities.
A country's fiat currency is a centralized business, if you want a decentralized one; bitcoin.

[Waterfull446]

Adaptation of cryptocurrencies is a matter of time. Now Europe has supported the digital banking revolution, and Italy generally wants people to switch to cashless payments. Banks will soon launch their CBDC currencies. In addition, Switzerland, as the most banking country, has already approved several digital currencies. And although private companies have more opportunities for experimentation in the financial sector, it seems to me that central banks will not stand aside

Regulation can be long only because of the large number of departments that defend each of their positions. Crypto could erase boundaries and allow society to move towards global governance. But now all countries have too many personal interests, although the future of financial markets still depends on digital currencies.

It is beneficial for banks to adapt cybersecurity and privacy technologies to improve financial processes even within the bank itself. Of course, we cannot transfer to cryptocurrencies as fast as we would like. But with a good information policy, you can prepare your business for a new type of money, after which people will more actively use digital currencies.

Of course, the first crypto revolution launches a business. All the same, there are specialists who have a good financial education. But to solve the problem of lack of education among the population, the taкlimaкan platform helps, where anyone can take courses on working with cryptocurrency. Central banks will gradually expand the number of cryptocurrency services and come to the issue of their own coins.

[Oneandpure]

Adaptation of cryptocurrencies is a matter of time. Now Europe has supported the digital banking revolution, and Italy generally wants people to switch to cashless payments. Banks will soon launch their CBDC currencies. In addition, Switzerland, as the most banking country, has already approved several digital currencies. And although private companies have more opportunities for experimentation in the financial sector, it seems to me that central banks will not stand aside

Regulation can be long only because of the large number of departments that defend each of their positions. Crypto could erase boundaries and allow society to move towards global governance. But now all countries have too many personal interests, although the future of financial markets still depends on digital currencies.

It is beneficial for banks to adapt cybersecurity and privacy technologies to improve financial processes even within the bank itself. Of course, we cannot transfer to cryptocurrencies as fast as we would like. But with a good information policy, you can prepare your business for a new type of money, after which people will more actively use digital currencies.

Of course, the first crypto revolution launches a business. All the same, there are specialists who have a good financial education. But to solve the problem of lack of education among the population, the taкlimaкan platform helps, where anyone can take courses on working with cryptocurrency. Central banks will gradually expand the number of cryptocurrency services and come to the issue of their own coins.

Yes, many have already agreed what crypto they need, but stable coins from central banks are still in question. Of course, China has its own perspectives, but its policy itself is more uniform than decentralized.

If always testing with legal using bitcoin as currency payment when adopting in real transaction become become digital currency payment, not tired with always testing again with bitcoin and altcoin. Have completed become bitcoin as legal currency payment for the future and give opportunity how feature by using bitcoin as legal currency for every country and costumer.

[bettercrypto]

I was surprised why China wasn't included on that article considering the amount of news we've digested on the past several weeks about its state back cryptocurrency!

Now I'm eager to see on what will transpire on each country's crypto development. Will it ignite a so called global crypto race among bigger and influential countries in the likes of USA, Germany, France, etc.? And what will be its effects on global economy?

I think the reason why the OP did not include China to the list is because it acquires bitcoin as well as cryptocurrency several years ago. It just denied and banned it for couple of times due to their own reason. Maybe, it is economically worst for them that time or they are checking its usage or it just want to manipulate the market. But one thing I know, cryptocurrency becomes the center of global trends right now.

[TastyChillySauce00]

I think the reason why the OP did not include China to the list is because it acquires bitcoin as well as cryptocurrency several years ago. It just denied and banned it for couple of times due to their own reason. Maybe, it is economically worst for them that time or they are checking its usage or it just want to manipulate the market. But one thing I know, cryptocurrency becomes the center of global trends right now.

China only state to utilizes blockchain and they are still prohibiting any cryptocurrencies which is understandable if this whole topic doesn't include China and speaking about global trends, it's not only cryptocurrency that become the center of the world but the whole digital payment or cashless society. Everywhere want to be cashless and bitcoin happen to be part of this so called "cashless society".

[Murat]

It's not any special for me when I don't see the name of China in this list, I believe China is one of the vital countries in this cryptocurrency world because their president has announced that the blockchain system is very potential for the future purpose so they are going to make something special in this system, rather than China, you can't complete anything in the technical world because China is the most dominant country in this section. After China, Japan is the country that is very special in Bitcoin and Cryptocurrency.

[justdimin]

Countries their own coin could actually even be the reason why bitcoin is dropping. Think about it, if there was a stable coin that is backed by the government of USA, don't you think many many people would use it? I mean globally that would be the simplest way of transacting money via blockchain and we could send and receive dollars staying anon and paying very tiny amounts and basically just disregard all banks.

Now, I am not saying they will do something like that but there are more and more nations caring about the blockchain world and that means maybe one day they might do it in the future and that might make bitcoins adoption rate drop to negatives, instead of getting people into bitcoin we might be seeing people going out of bitcoin which is a big problem.

[doomloop]

I think the reason why the OP did not include China to the list is because it acquires bitcoin as well as cryptocurrency several years ago. It just denied and banned it for couple of times due to their own reason. Maybe, it is economically worst for them that time or they are checking its usage or it just want to manipulate the market. But one thing I know, cryptocurrency becomes the center of global trends right now.

China only state to utilizes blockchain and they are still prohibiting any cryptocurrencies which is understandable if this whole topic doesn't include China and speaking about global trends, it's not only cryptocurrency that become the center of the world but the whole digital payment or cashless society. Everywhere want to be cashless and bitcoin happen to be part of this so called "cashless society".

Going cashless will crypto currencies not be new thing because people are already into plastic money and this is the reason they did not find much problem in making transactions with bitcoin other digital currencies. Those countries who want to rule world market like china, USA etc. they will definitely resist this change to bits but if general public wants it, and they cannot do it for so long.

[bettercrypto]

I think the reason why the OP did not include China to the list is because it acquires bitcoin as well as cryptocurrency several years ago. It just denied and banned it for couple of times due to their own reason. Maybe, it is economically worst for them that time or they are checking its usage or it just want to manipulate the market. But one thing I know, cryptocurrency becomes the center of global trends right now.

China only state to utilizes blockchain and they are still prohibiting any cryptocurrencies which is understandable if this whole topic doesn't include China and speaking about global trends, it's not only cryptocurrency that become the center of the world but the whole digital payment or cashless society. Everywhere want to be cashless and bitcoin happen to be part of this so called "cashless society".

Going cashless will crypto currencies not be new thing because people are already into plastic money and this is the reason they did not find much problem in making transactions with bitcoin other digital currencies. Those countries who want to rule world market like china, USA etc. they will definitely resist this change to bits but if general public wants it, and they cannot do it for so long.

Yeah! I agree with you sir.
That is their strategy also since they know the crypto will become an enemy for their economy. They treat as a threat also to their development. Therefore, they resist to change but they want the trend since they might earn from crypto industry. We all want cashless society because it is always convinient to use. So, we must support a news like this.

[jameshugo17]

The cashless society has already begun. We switched to this system with credit cards. Does anyone carry $ 100,000 in cash? The new system is also said to be encrypted money. Cryptocurrency can continue this work. But with a difference. Banks may disappear.

[target]

France should now be on the list too, they did announce recently about its digital fiat. China was the first to announce creating their own digital yuan and this is why some of us are surprise the China is not in the list. China is one of the country that is already cashless.

The cashless society has already begun. We switched to this system with credit cards. Does anyone carry $ 100,000 in cash? The new system is also said to be encrypted money. Cryptocurrency can continue this work. But with a difference. Banks may disappear.

If the $100,000 in a form of digital cash backed by government, do you think we can be held in the airport and not allowed to travel? In the current law we are only allowed to bring $10k

[kotik085]

The main thing is that Russia was on the list, our neighbors will not hinder us and we need to be friends with them. The fact that many people accept blockchain is only a plus of crypto.

[bobitza]

There have been many countries around the world accepting cryptocurrencies as well as testing digital assets. For example, the Russian central bank is testing stablecoins attached to real assets. Many countries are openly pursuing central bank digital currencies (CBDC), while others are exploring this possibility. Known names working on the issue are Uruguay, Sweden and India, which introduced the concept of digital rupees in the draft bill of cryptocurrencies.

[BartS]

The cashless society has already begun. We switched to this system with credit cards. Does anyone carry $ 100,000 in cash? The new system is also said to be encrypted money. Cryptocurrency can continue this work. But with a difference. Banks may disappear.

It seems that governments are pushing for this harder than ever, this has been one of their goals for decades but it did not seem like they were in any hurry to implement this since they knew they had complete control of all the currencies around the world.

But the creation of bitcoin and its popularity have changed everything, they are creating their own cryptocurrencies because they do not want to allow bitcoin to become a real alternative, but as long as their cryptocurrencies are the same as fiat bitcoin will continue to be as powerful as it is now.

[avatar_kiyoshi]

There have been many countries around the world accepting cryptocurrencies as well as testing digital assets. For example, the Russian central bank is testing stablecoins attached to real assets. Many countries are openly pursuing central bank digital currencies (CBDC), while others are exploring this possibility. Known names working on the issue are Uruguay, Sweden and India, which introduced the concept of digital rupees in the draft bill of cryptocurrencies.

Russian is one country that confused accepting cryptocurrency, in 2016 they ban cryptocurrency, then after Bitcoin price at peaked and it's become hype Russia change their decision to open cryptocurrency in their country, Putin also excited about cryptocurrency, then at Nov 2019 Russian Central bank say it would support crypto ban and now they start to testing stablecoin. Hmm.. Probably that's their economic strategy to against China vs America war trades

[asus09]

There have been many countries around the world accepting cryptocurrencies as well as testing digital assets. For example, the Russian central bank is testing stablecoins attached to real assets. Many countries are openly pursuing central bank digital currencies (CBDC), while others are exploring this possibility. Known names working on the issue are Uruguay, Sweden and India, which introduced the concept of digital rupees in the draft bill of cryptocurrencies.

Russian is one country that confused accepting cryptocurrency, in 2016 they ban cryptocurrency, then after Bitcoin price at peaked and it's become hype Russia change their decision to open cryptocurrency in their country, Putin also excited about cryptocurrency, then at Nov 2019 Russian Central bank say it would support crypto ban and now they start to testing stablecoin. Hmm.. Probably that's their economic strategy to against China vs America war trades

Firs time I know whit bitcoin last 2015 Russia have been interested for accepting bitcoin as legal currency payment and try to make bitcoin become competitor for USD as fiat payment currency always use by many countries, until four years later Russia look not accepted and make bitcoin become legal currency payment, does any one have give fake information about Russia accepted bitcoin or not.

[BartS]

There have been many countries around the world accepting cryptocurrencies as well as testing digital assets. For example, the Russian central bank is testing stablecoins attached to real assets. Many countries are openly pursuing central bank digital currencies (CBDC), while others are exploring this possibility. Known names working on the issue are Uruguay, Sweden and India, which introduced the concept of digital rupees in the draft bill of cryptocurrencies.

Russian is one country that confused accepting cryptocurrency, in 2016 they ban cryptocurrency, then after Bitcoin price at peaked and it's become hype Russia change their decision to open cryptocurrency in their country, Putin also excited about cryptocurrency, then at Nov 2019 Russian Central bank say it would support crypto ban and now they start to testing stablecoin. Hmm.. Probably that's their economic strategy to against China vs America war trades

This reaction is not as incomprehensible as it may seem, in one hand governments are excited at the development of any new industry because this always mean more taxes for them, but bitcoin is a unique technology created with the intention of helping the people and not them.

So they are confused, they can see the potential of cryptocurrencies but they can also see the danger and as such their posture concerning cryptocurrencies and their future changes constantly.

[cutesgirl]

Have result with country testing bitcoin as digital assets in 2020, maybe now have been three months after testing have been reward for getting result with bitcoin testing, available for using and adopting as legal currency payment or not. Have bitcoin need to upgrade for safety way to make bitcoin become most worth and profitable as payment currency payment?

[breathlessz]

There have been many countries around the world accepting cryptocurrencies as well as testing digital assets. For example, the Russian central bank is testing stablecoins attached to real assets. Many countries are openly pursuing central bank digital currencies (CBDC), while others are exploring this possibility. Known names working on the issue are Uruguay, Sweden and India, which introduced the concept of digital rupees in the draft bill of cryptocurrencies.

Russian is one country that confused accepting cryptocurrency, in 2016 they ban cryptocurrency, then after Bitcoin price at peaked and it's become hype Russia change their decision to open cryptocurrency in their country, Putin also excited about cryptocurrency, then at Nov 2019 Russian Central bank say it would support crypto ban and now they start to testing stablecoin. Hmm.. Probably that's their economic strategy to against China vs America war trades

This reaction is not as incomprehensible as it may seem, in one hand governments are excited at the development of any new industry because this always mean more taxes for them, but bitcoin is a unique technology created with the intention of helping the people and not them.

So they are confused, they can see the potential of cryptocurrencies but they can also see the danger and as such their posture concerning cryptocurrencies and their future changes constantly.

I agree. they are still looking for favorable loopholes for the state, so in the end freedom is restricted. but I think it would be better than crypto not legalized by the government, so that it would interfere with its development. no doubt that the government will have an important role in mass adoption

[henrybek3]

Economically strong countries are more advantageous. I think cryptocurrency cannot be patronized by a direct state. It doesn't make sense. They can only incorporate them into their systems as a new investment tool. It can be perceived as gold.

[hatshepsut93]

Why the sudden change of heart?
Up until quite recently, many countries were actually quite resistant to the idea of cryptocurrency and blockchain technology. After taking a look at the countries testing digital assets in 2020, it’s quite clear they’ve had a change of heart. This can be largely attributed to the immense success of Bitcoin, a change in attitude towards the digitization of our future in general, and the implementation of Facebook’s very own Libra coin. As cryptocurrencies become more accepted on a societal level and go mainstream, it’s likely that more and more governments will see the almost limitless possibilities that blockchain and digital assets have to offer.

You could call it a change of heart if they legalized Bitcoin, started supporting in on a government level, give it all the perks of a national currency, use it as a reserve currency and so on. So far no country in the world made any steps towards it, maybe except for Japan, which is still nowhere near close to what I described.

The countries will be testing their own centralized shitcoins, and the key word here is "testing" - there's no guarantee that they will go live.

[bdivrik]

Many countries have taken digital money into review. Cryptocurrency is becoming more and more popular every passing day. This cannot be explained only by the investments of people who want to make money. People don't want their money to lose value. It's also easier to carry.

[BuNga_cute]

This is the effect of mass adoption of cryptocurrency which is growing more rapidly. So some countries try to make their own coins, and more
also the development of the digital era. It's already penetrated the financial sector, indeed it is most likely cashless began to be seen this year.
Hopefully with this positive news can slightly increase the price of cryptocurrency in the market. Indeed, the predictions of experts this year is
a year of awakening cryptocurrency, we just follow its development.

[sisule]

This is the effect of mass adoption of cryptocurrency which is growing more rapidly. So some countries try to make their own coins, and more
also the development of the digital era. It's already penetrated the financial sector, indeed it is most likely cashless began to be seen this year.
Hopefully with this positive news can slightly increase the price of cryptocurrency in the market. Indeed, the predictions of experts this year is
a year of awakening cryptocurrency, we just follow its development.

Many countries have adopted their own coin beside they have give warning for legal using bitcoin as currency digital assets payment, they try to give benefit for their people how earn much profit with blockchain era. Many countries want to adopt bitcoin as legal currency for allowing their own coin become popular in their country and have many investor with their own coin.

[awik p]

This is the effect of mass adoption of cryptocurrency which is growing more rapidly. So some countries try to make their own coins, and more
also the development of the digital era. It's already penetrated the financial sector, indeed it is most likely cashless began to be seen this year.
Hopefully with this positive news can slightly increase the price of cryptocurrency in the market. Indeed, the predictions of experts this year is
a year of awakening cryptocurrency, we just follow its development.

Many countries have adopted their own coin beside they have give warning for legal using bitcoin as currency digital assets payment, they try to give benefit for their people how earn much profit with blockchain era. Many countries want to adopt bitcoin as legal currency for allowing their own coin become popular in their country and have many investor with their own coin.

the government has begun to realize that the development of the digital age is getting more advanced and they must follow it. but if they make their own currency is it controlled or free as in cryptocurrency? I guess we can't wait to wait for its development

[EdvinZ]

China, which has almost finished developing its own national cryptocurrency and is about to launch it, was not mentioned in the article. In general, I think that many more countries than in this list are developing their own national cryptocurrencies or at least have plans to do so. It is worth considering that the future is not only for state-owned cryptocurrencies, but also for corporate tokens and existing cryptocurrencies.

[senin]

China, which has almost finished developing its own national cryptocurrency and is about to launch it, was not mentioned in the article. In general, I think that many more countries than in this list are developing their own national cryptocurrencies or at least have plans to do so. It is worth considering that the future is not only for state-owned cryptocurrencies, but also for corporate tokens and existing cryptocurrencies.

Information has already appeared that about 70 percent of all states intend to issue their national stable coins. In any case, the list is far from complete. It seems that this year there will be a boom of stable coins of various states. Most likely, this was prompted by the appearance of information about the upcoming release of the Libra coin. States have finally realized that they may be aloof from the new opportunities in the financial sector of the economy that blockchain technology provides. In my opinion, everything is logical and logical.

[BartS]

This reaction is not as incomprehensible as it may seem, in one hand governments are excited at the development of any new industry because this always mean more taxes for them, but bitcoin is a unique technology created with the intention of helping the people and not them.

So they are confused, they can see the potential of cryptocurrencies but they can also see the danger and as such their posture concerning cryptocurrencies and their future changes constantly.

I agree. they are still looking for favorable loopholes for the state, so in the end freedom is restricted. but I think it would be better than crypto not legalized by the government, so that it would interfere with its development. no doubt that the government will have an important role in mass adoption

It is not a good idea for governments to ban cryptocurrencies because then people are going to keep using them and they will not pay any taxes, it is better for the government to try to regulate it, but how do you regulate something which was created to resist those attempts?

As you say they are still trying to find a way to get their way and restrict our freedom but that is only possible now that fiat is strong if at some moment it gets weaker we could use bitcoin to buy stuff directly and at that point they will not be able to stop it.

[Ethereums]

This reaction is not as incomprehensible as it may seem, in one hand governments are excited at the development of any new industry because this always mean more taxes for them, but bitcoin is a unique technology created with the intention of helping the people and not them.

So they are confused, they can see the potential of cryptocurrencies but they can also see the danger and as such their posture concerning cryptocurrencies and their future changes constantly.

I agree. they are still looking for favorable loopholes for the state, so in the end freedom is restricted. but I think it would be better than crypto not legalized by the government, so that it would interfere with its development. no doubt that the government will have an important role in mass adoption

It is not a good idea for governments to ban cryptocurrencies because then people are going to keep using them and they will not pay any taxes, it is better for the government to try to regulate it, but how do you regulate something which was created to resist those attempts?

As you say they are still trying to find a way to get their way and restrict our freedom but that is only possible now that fiat is strong if at some moment it gets weaker we could use bitcoin to buy stuff directly and at that point they will not be able to stop it.

talk about testing, they probably had run on their own sandbox for it. By the way, the issue of world war is coming, from Trump strikes and killing Iran general could become a hot issue for cryptocurrency. This industry still on the growing phase right now, for mass adoption many governments still thinking better approach which is trying to regulate for their safety ( by using it to buy directly or online ). Since then their target only local exchangers and get tax retribution from their transaction as i believe.

[sisule]

Above country testing bitcoin as legal digital payment currency which one country have accepted bitcoin as legal payment currency, how many year need by some country to test bitcoin before accepting as legal currency payment, now day many country want to legal using bitcoin and altcoin as currency payment for giving benefit and tax for country.

[mamahdedeh]

This reaction is not as incomprehensible as it may seem, in one hand governments are excited at the development of any new industry because this always mean more taxes for them, but bitcoin is a unique technology created with the intention of helping the people and not them.

So they are confused, they can see the potential of cryptocurrencies but they can also see the danger and as such their posture concerning cryptocurrencies and their future changes constantly.

I agree. they are still looking for favorable loopholes for the state, so in the end freedom is restricted. but I think it would be better than crypto not legalized by the government, so that it would interfere with its development. no doubt that the government will have an important role in mass adoption

It is not a good idea for governments to ban cryptocurrencies because then people are going to keep using them and they will not pay any taxes, it is better for the government to try to regulate it, but how do you regulate something which was created to resist those attempts?

As you say they are still trying to find a way to get their way and restrict our freedom but that is only possible now that fiat is strong if at some moment it gets weaker we could use bitcoin to buy stuff directly and at that point they will not be able to stop it.

By banning cryptocurrency, I think the government will have less tax revenue from cryptocurrency, especially if more and more investors are using it and are interested in cryptocurrency, of course, it will reduce the stock investors in that country who partly turn to crypto

[gweedo]

China and South Korea are the two countries that are experimenting with blockchain recently. And if those two countries succeed in testing and applying it to banks, I believe the market will grow insanely because these are the two leading countries in the cryptocurrency market. In 2020, I believe we will receive a lot of positive news to help this market have more new investors.

[kapalmabur]

This reaction is not as incomprehensible as it may seem, in one hand governments are excited at the development of any new industry because this always mean more taxes for them, but bitcoin is a unique technology created with the intention of helping the people and not them.

So they are confused, they can see the potential of cryptocurrencies but they can also see the danger and as such their posture concerning cryptocurrencies and their future changes constantly.

I agree. they are still looking for favorable loopholes for the state, so in the end freedom is restricted. but I think it would be better than crypto not legalized by the government, so that it would interfere with its development. no doubt that the government will have an important role in mass adoption

It is not a good idea for governments to ban cryptocurrencies because then people are going to keep using them and they will not pay any taxes, it is better for the government to try to regulate it, but how do you regulate something which was created to resist those attempts?

As you say they are still trying to find a way to get their way and restrict our freedom but that is only possible now that fiat is strong if at some moment it gets weaker we could use bitcoin to buy stuff directly and at that point they will not be able to stop it.

By banning cryptocurrency, I think the government will have less tax revenue from cryptocurrency, especially if more and more investors are using it and are interested in cryptocurrency, of course, it will reduce the stock investors in that country who partly turn to crypto

crypto currency users are still very little different from stocks, I don't think the government will be negatively affected if they ban it, but there will be a positive impact if countries switch to crypto currencies, as some countries will do this year, we can see

[imstillthebest]

This reaction is not as incomprehensible as it may seem, in one hand governments are excited at the development of any new industry because this always mean more taxes for them, but bitcoin is a unique technology created with the intention of helping the people and not them.

So they are confused, they can see the potential of cryptocurrencies but they can also see the danger and as such their posture concerning cryptocurrencies and their future changes constantly.

I agree. they are still looking for favorable loopholes for the state, so in the end freedom is restricted. but I think it would be better than crypto not legalized by the government, so that it would interfere with its development. no doubt that the government will have an important role in mass adoption

It is not a good idea for governments to ban cryptocurrencies because then people are going to keep using them and they will not pay any taxes, it is better for the government to try to regulate it, but how do you regulate something which was created to resist those attempts?

As you say they are still trying to find a way to get their way and restrict our freedom but that is only possible now that fiat is strong if at some moment it gets weaker we could use bitcoin to buy stuff directly and at that point they will not be able to stop it.

By banning cryptocurrency, I think the government will have less tax revenue from cryptocurrency, especially if more and more investors are using it and are interested in cryptocurrency, of course, it will reduce the stock investors in that country who partly turn to crypto

crypto currency users are still very little different from stocks, I don't think the government will be negatively affected if they ban it, but there will be a positive impact if countries switch to crypto currencies, as some countries will do this year, we can see

yeah because stocks were older than crytpo , that is why . 

however crypto now is slowy starting to achieve a momentum and we will only be shock one time that cryptos now were at the same level of stock or will probably surpass stocks in the future  .it dont have any negative to governments if they ban crypto . why would you think they ban  ? ban means they love to ban it because they think crypto does not have something good to offer  .

[lixer]

The countries you have listed here is less compared to how many countries we have in this world. And I don’t really know about these countries you have mentioned whether they are going to be releasing any cryptocurrency this year, the only country I know that is serious with it is China and I have been following up with a lot of news about them and it seems it’s getting released any moment from now.

As for the other countries you have mentioned, one thing I know for sure is that they are friendly with cryptocurrency, but I don’t know if they are releasing their own cryptocurrency because this is the first time I’m seeing someone say this.

[wowz2010]

China, which has almost finished developing its own national cryptocurrency and is about to launch it, was not mentioned in the article. In general, I think that many more countries than in this list are developing their own national cryptocurrencies or at least have plans to do so. It is worth considering that the future is not only for state-owned cryptocurrencies, but also for corporate tokens and existing cryptocurrencies.

Yeah pretty much.
I've found article about it right here https://blockonomi.com/china-will-launch-national-digital-asset-in-2020/
China seems to be very active in crypto field lately

[Webetcoins]

Above country testing bitcoin as legal digital payment currency which one country have accepted bitcoin as legal payment currency, how many year need by some country to test bitcoin before accepting as legal currency payment, now day many country want to legal using bitcoin and altcoin as currency payment for giving benefit and tax for country.

There are quite a couple of countries that have already started doing so and bitcoin is legal over there as this helping government in providing people with opportunities of income and it is also reducing burden from the shoulders of government of providing stable financial life to all citizens. There are many news that develop countries are also working on methods to put taxes on bitcoin in order to make it legal.

[adzino]

Sad, all these currencies are just going to be centralized currency. Still no financial freedom and now the Government of those countries can keep a close eye on peoples finance. They can now easily regulate their currency without facing any problem.Sadly, no more financial privacy for people. Let us just see what happens this year. If they can actually implement this in their country, at least people will start knowing more about bitcoin and then the advantages of using bitcoin over the regulated coin. Highly likely, they will stop using their government issued crypto currency and will move to bitcoin.

[BartS]

Sad, all these currencies are just going to be centralized currency. Still no financial freedom and now the Government of those countries can keep a close eye on peoples finance. They can now easily regulate their currency without facing any problem.Sadly, no more financial privacy for people. Let us just see what happens this year. If they can actually implement this in their country, at least people will start knowing more about bitcoin and then the advantages of using bitcoin over the regulated coin. Highly likely, they will stop using their government issued crypto currency and will move to bitcoin.

That is a calculated risk they are taking, they cannot let decentralized cryptocurrencies have a monopoly of this new form of money, but at the same time if they create their own centralized cryptocurrencies people may decide to adopt bitcoin.

There is nothing we can do except to trust that sooner or later people are going to realize that bitcoin is many times better than those centralized cryptocurrencies, and one great way to do that is for bitcoin to keep increasing in price and bring more attention to itself that way.

[Chrystora123]

snip..

You seem to forget about China, last year President Xi Jinping announced he would issue their cryptocurrency this year, but don't know yet what month it will be realized.   and one more country that is rumored to be starting to use digital money that is Malaysia, cmiiw

[sisule]

snip..

You seem to forget about China, last year President Xi Jinping announced he would issue their cryptocurrency this year, but don't know yet what month it will be realized.   and one more country that is rumored to be starting to use digital money that is Malaysia, cmiiw

Just giving issues only without have implementation about when bitcoin become legal currency payment transaction, I have bad opinion with Chinese president when said will make bitcoin as legal currency payment only for running their chance to sell bitcoin with higher price, maybe make the same statement when finished buy bitcoin with lower price and announce to public for accepting bitcoin in China.

[Karmakid]

snip..

You seem to forget about China, last year President Xi Jinping announced he would issue their cryptocurrency this year, but don't know yet what month it will be realized.   and one more country that is rumored to be starting to use digital money that is Malaysia, cmiiw

Let them do what they want. If it is good for their country to prosper even more or to have more convenience than before then it is a good decision for them to test digital assets for their economy. If they will have a positive result from this experimentation then we all know that most of the developing countries will do the same and they will immediately use blockchain technology.

[FLoving]

I think the interest grew as they knew there were tonnes of people who could invest from all over the world in global tokens or currencies. So, Russia thinks they should make a digital currency that doesn't mean anything and is worth zero, but could get millions of dollars, perhaps even billions. That's why, and nothing else, they're looking into it. Hopefully in the future all countries will accept it

If the demands for crypto industry will continue to be pushed by people who already using it, government then will follow and make certain
movements in order to make sure that they've still have a good control. It will have both good and bad effects though it can be balance and
sort if how the government will be able to make it more in the positive side.

Yes if the government is a state is a democratic government then the decisions of it will be in the favor of the citizens of that state so if someone want that their government adopt the digital assets for their states then they have to adopt it for their life and have to promote the adoption of it all around their country. If it will happen then the government of that state will legalize the digital assets and will support it and will develop it more for the convenience of their citizens.

[Kevondo]

I think the interest grew as they knew there were tonnes of people who could invest from all over the world in global tokens or currencies. So, Russia thinks they should make a digital currency that doesn't mean anything and is worth zero, but could get millions of dollars, perhaps even billions. That's why, and nothing else, they're looking into it. Hopefully in the future all countries will accept it

If the demands for crypto industry will continue to be pushed by people who already using it, government then will follow and make certain
movements in order to make sure that they've still have a good control. It will have both good and bad effects though it can be balance and
sort if how the government will be able to make it more in the positive side.

Yes if the government is a state is a democratic government then the decisions of it will be in the favor of the citizens of that state so if someone want that their government adopt the digital assets for their states then they have to adopt it for their life and have to promote the adoption of it all around their country. If it will happen then the government of that state will legalize the digital assets and will support it and will develop it more for the convenience of their citizens.

If the citizens of a state understand the idea that digital currency Is going to benefit them in many ways in the future and they can do a lot of business with it they can make it legal in their country. As majority is the authority and citizens can make it accepted by the government, it can happen if the users start promoting it to others and make it part of their everyday life.

[travwill]

Within the current cryptocurrency trend, many countries (as corporations did before) will claim their rights to part of the cryptocurrency market.
Let's see who will do it best, but so far it does not seem that there would be favorites who could get ahead with their incredibly advanced global bank coins.

[verita1]

The summary shows that it is clear that the influence of Bitcoin and blockchain has drawn attention to some of the most developed countries.
We are witnessing a great change in technology with the emergence of bitcoin. As we well know, cryptocurrencies can help nations that have a financial crisis. Where access to the bank is almost nil for some populations and the implementation of crypto-based financial instruments would improve the economic progress of these nations.
Undoubtedly, technology would give a breakthrough for the benefit of nations and I would say a whole continent because it is possible that the model that is implemented if it is successful is replicated.

[kesmex]

more and more adoptions from countries, it will make Bitcoin an extraordinary asset in the future, I'm 100% sure that Bitcoin is still worth buying now

[Wexlike]

more and more adoptions from countries, it will make Bitcoin an extraordinary asset in the future, I'm 100% sure that Bitcoin is still worth buying now

Absolutely it is. However exploring blockchain technology doesn't necessarily mean that a country will invest in a decentralized currency.

I would rather think it is more for smaller sized countries who don't want to be economically controlled by an external power.

Just look what happens when the americans are threatening Irak to take away the dollar reserves if they kick out the US army.

This is a whole different layer of attack.

[buyinbtc]

I think the interest grew as they knew there were tonnes of people who could invest from all over the world in global tokens or currencies. So, Russia thinks they should make a digital currency that doesn't mean anything and is worth zero, but could get millions of dollars, perhaps even billions. That's why, and nothing else, they're looking into it. Hopefully in the future all countries will accept it

[Murat]

Definitely, This type of good news encourages us to get involved in this system for the long run, believe it or not, the legal issue is the fundamental thing in the monetary world, without government approval, no one can use crypto in the local market, it can be only used in the virtual life, But I believe that international political movement is the main thing in this issue, many countries are interested in creating an own blockchain system but which is not fruitful for the cryptocurrency anymore, so individual initiative should be focused on this cryptocurrency because the main theme is the decentralization.

[TrevorS]

I think the interest grew as they knew there were tonnes of people who could invest from all over the world in global tokens or currencies. So, Russia thinks they should make a digital currency that doesn't mean anything and is worth zero, but could get millions of dollars, perhaps even billions. That's why, and nothing else, they're looking into it. Hopefully in the future all countries will accept it

What kind of investments are you talking about? After all, investments involve income in the form of dividends, but if we are talking about the digital currencies of banks and individual countries, it is obvious that these types of currencies will be stable. They will only allow expanding the functionality of fiat currencies within the digital environment in which we are all moving.

[SaShiRaJaVu]

They will only allow expanding the functionality of fiat currencies within the digital environment in which we are all moving.

We already have a digital environment when it comes to moving fiat currencies and if they are adding a blockchain to that movement then it will have more transparency and the biggest problem that can cause is that the government will be able to monitor every transactions we make and will have more control over us which i am not a big fan, so i am not in favor of those kind of development that a government will have more power over its citizens.

[criza]

These countries are fascinated by blockchain technology that’s why they are taking early move for adoption. I just wonder if they will run it right away publicly or implement it by sector, this is very challenging for their side but lets see what will happen during its early phase.

Well, that is the trend now, going digital. Since blockchain technology is new and emerging, many countries try to have their own crypto assets/currency. This is good since this is also a part of crypto awareness and hope for adoption. We are seeing more implementation of this project in the future for every country as they try to utilize this new technology.

Adoption and the realization of many countries about the potential of crypto currency should make a big impact in the crypto society. Like China, which is a big communist country, surely their own crypto currency would be known far and wide. Countries are trying no to be left out in this kind of innovation that might be the key for the future.

[CaVO32]

These countries are fascinated by blockchain technology that’s why they are taking early move for adoption. I just wonder if they will run it right away publicly or implement it by sector, this is very challenging for their side but lets see what will happen during its early phase.

Well, that is the trend now, going digital. Since blockchain technology is new and emerging, many countries try to have their own crypto assets/currency. This is good since this is also a part of crypto awareness and hope for adoption. We are seeing more implementation of this project in the future for every country as they try to utilize this new technology.

Adoption and the realization of many countries about the potential of crypto currency should make a big impact in the crypto society. Like China, which is a big communist country, surely their own crypto currency would be known far and wide. Countries are trying no to be left out in this kind of innovation that might be the key for the future.

And aside from the list of the OP, there is already a long list of countries that are into cryptocurrency.  below link is a comprehensive report regarding the usage of cryptocurrencies around the globe -

https://www.loc.gov/law/help/cryptocurrency/world-survey.php

you can view their portable doc files and you will gain a lot of insights from this report. and since this was 2018, i guess more updates can be added in this list especially that we are already in 2020. the acceptance of crypto is far better than before as more companies and institutions are having their own respective blockchain projects.

[Baoo]

That's a good information from the OP to be honest, as I know Dubai's government are supporting the projects (financially ) in blockchain domain. Also,  I did not know that Canada are testing cryptocurrencies but if it is really happened then their ecnonomy will significantly increase especially when Bitcoin is going to be recognized as a legal coin . In fact, the advantage that Canada has great energy stock  especially located on the waterfalls..ect.
And due to the energy is pretty cheap right there, so mining projects would be the appropiate through these natural resources or Canadian environment.

[Xxmodded]

That's a good information from the OP to be honest, as I know Dubai's government are supporting the projects (financially ) in blockchain domain. Also,  I did not know that Canada are testing cryptocurrencies but if it is really happened then their ecnonomy will significantly increase especially when Bitcoin is going to be recognized as a legal coin . In fact, the advantage that Canada has great energy stock  especially located on the waterfalls..ect.
And due to the energy is pretty cheap right there, so mining projects would be the appropiate through these natural resources or Canadian environment.

How long one country keep continue for testing about accepted bitcoin and altcoin legal payment transaction and how come to make bitcoin really accepted with many people, maybe have pass three months and enough to test with bitcoin as payment currency and have new way to know bitcoin become friendly payment currency or not.

[princesspoppy]

I smell something fishy about these countries trying to enter the crypto world. It is good that governments of these countries can see the potential of crypto currencies in terms of its accessibility and service to have a cashless society, but we can't stop thinking that maybe governments of the said countries have their hidden motives in entering and making their own cryptos. They will be able to control it just like what they want in bitcoin that they cannot control.
Anyway if it will help them to lessen the hustle but rather improve the services where these cryptos will be used, it can still be considered as a good idea.

[ice098]

I smell something fishy about these countries trying to enter the crypto world. It is good that governments of these countries can see the potential of crypto currencies in terms of its accessibility and service to have a cashless society, but we can't stop thinking that maybe governments of the said countries have their hidden motives in entering and making their own cryptos. They will be able to control it just like what they want in bitcoin that they cannot control.
Anyway if it will help them to lessen the hustle but rather improve the services where these cryptos will be used, it can still be considered as a good idea.

Yes exactly. But on the other hand its nice that the population of crypto users will increase because of this countries who will legalize crypto currencies and introduce it to their fellow citizens. If they will create their own coin its good but they cannot still bitcoin because it is the great coin at all times. I hope that my country will also legalize bitcoin or the crypto world itself because it cannot replace the fiat but it will surely help our economical status.

[BartS]

I smell something fishy about these countries trying to enter the crypto world. It is good that governments of these countries can see the potential of crypto currencies in terms of its accessibility and service to have a cashless society, but we can't stop thinking that maybe governments of the said countries have their hidden motives in entering and making their own cryptos. They will be able to control it just like what they want in bitcoin that they cannot control.
Anyway if it will help them to lessen the hustle but rather improve the services where these cryptos will be used, it can still be considered as a good idea.

It is obvious they are doing this not because they want to help people they are doing this because they want to benefit out of this, to me their plan is simple, just as they decieved people and took away their gold they are going to try to do the same with their bitcoins.

Lucky for us most of those that are invested in bitcoin think of it as a form of money that should be stored for the long term, but another goal of them by creating those currencies is to try to slow down adoption and I think they may be successful in that aspect.

[Janation]

Adoption and the realization of many countries about the potential of crypto currency should make a big impact in the crypto society. Like China, which is a big communist country, surely their own crypto currency would be known far and wide. Countries are trying no to be left out in this kind of innovation that might be the key for the future.

I think that depends on the country.

Its been years since cryptocurrencies, mainly Bitcoin is legalized in our country. Until now, Bitcoin is not that popular in our country, despite the legalization. So I think this depends on the people of that country.

[thottum]

Many countries would issue their own digital currency rather than accepting BTC as a legally accepted currency. But several countries might treat BTC as commodities rather than a currency. In our country, the possibility of issuing central bank digital currency is in the works

[Wipeout2097]

If it will be implemented,A great news for crypto community and beneficial fr the cryptocurrency market.Adoption of crypto will be increased and the vendors will also think seriously about the crypto to make transaction with crypto and over all common person will be get benefit from it.

Developed countries realized that crypto and modern technology of block-chain is best for the stable economy.So underdeveloped countries must learn from the countries having proactive approach to cryptocurrency.

[doomloop]

If it will be implemented,A great news for crypto community and beneficial fr the cryptocurrency market.Adoption of crypto will be increased and the vendors will also think seriously about the crypto to make transaction with crypto and over all common person will be get benefit from it.

Developed countries realized that crypto and modern technology of block-chain is best for the stable economy.So underdeveloped countries must learn from the countries having proactive approach to cryptocurrency.

It is also spreading in under developed countries also. The only thing that stops it from being known by everybody is the restrictions put by the government on digital currency. The awareness is increasing day by day among all communities and people are accepting it happily. It is the advanced technology, its wide spread and wide acceptance by even under developed countries would improve their economies. We should work on its awareness among all nations.

[Brunus]

I will never tire of repeating it: if a crypto is controlled by a government, it is no longer a crypto but a simple and banal electronic money, regardless of how elaborate it is the way they try to convince us.

[tartibaya]

I wonder how Japan will make a move. The world's reserve currency is generally dollar. However, if a cryptocurrecny based on gold is produced, a new order can occur. I don't know when this will happen. But I think someone will try it.

[TheGreatPython]

Here are these countries doing their best to make the world accept cryptocurrency, while others are out there discouraging people from making use of crypto. I hope that other later change their mind and allow the use of cryptocurrency.

Although I do know that even if they do decide to go into cryptocurrency they will create their own cryptocurrency and that means they wouldn’t promote Bitcoin. But I seriously hope that they do make bitcoin legal everywhere in the world, even if they create their own cryptocurrencies, so that people can be able to make use of Bitcoin if they want to.

[hahay]

Here are these countries doing their best to make the world accept cryptocurrency, while others are out there discouraging people from making use of crypto. I hope that other later change their mind and allow the use of cryptocurrency.

Although I do know that even if they do decide to go into cryptocurrency they will create their own cryptocurrency and that means they wouldn’t promote Bitcoin. But I seriously hope that they do make bitcoin legal everywhere in the world, even if they create their own cryptocurrencies, so that people can be able to make use of Bitcoin if they want to.

But because of the existence of bitcoin, the digital era continues to grow and even though they will or have planned to have their own cryptocurrency or their own digital money, but what happens in some countries has even legalized bitcoin and some only make crypto an asset, it proves that bitcoin has been accepted in the world. That way, I don't think there is anything wrong because every country will surely defend its own currency with the technology they use.

[m0nk3y_m1nD]

I have read a news in 2019 about a tiny pacific island nation to issue its own cryptocurrency. Its called the Republic of the Marshall Islands and the token would be called Marshallese sovereign (SOV for short). The whitepaper isn't available yet, but this is one of those that I am looking forward to, especially John McAfee is running for President in November.

[dunfida]

Here are these countries doing their best to make the world accept cryptocurrency, while others are out there discouraging people from making use of crypto. I hope that other later change their mind and allow the use of cryptocurrency.

Although I do know that even if they do decide to go into cryptocurrency they will create their own cryptocurrency and that means they wouldn’t promote Bitcoin. But I seriously hope that they do make bitcoin legal everywhere in the world, even if they create their own cryptocurrencies, so that people can be able to make use of Bitcoin if they want to.

But because of the existence of bitcoin, the digital era continues to grow and even though they will or have planned to have their own cryptocurrency or their own digital money, but what happens in some countries has even legalized bitcoin and some only make crypto an asset, it proves that bitcoin has been accepted in the world. That way, I don't think there is anything wrong because every country will surely defend its own currency with the technology they use.

Government would really be going on that way and we know that not all would really have the same mind for them to recognized nor accept BTC.
We've seen there are who accept but most of them are still in neutral and some numbers who do totally ban crypto/bitcoin.We cant blame them
and theres no way to changed up their mind.This is the reality, we do hope for global adoption but this one isnt really possible.For now, we should be
grateful at least to those countries who do recognized cryptos importance and benefits.

[akirasendo17]

Its because they realized it can't be stop since as the day goes on, a lot of organization are looking into digital assets, i think they thought it won't happen in the early years but now they see the whole picture and now they are trying to keep up, because its on its way there, we can expect it in 2025 they will start using this technology and others will soon follow and everyone will adapt, because thats what really bound to happen, imagine from stones to metal, from smoke to mobile communications and sattelite, from drawing to walls to camera, if you can see how to world evolves its no wonder blockchain is the future

[Vishnu.Reang]

I have read a news in 2019 about a tiny pacific island nation to issue its own cryptocurrency. Its called the Republic of the Marshall Islands and the token would be called Marshallese sovereign (SOV for short). The whitepaper isn't available yet, but this is one of those that I am looking forward to, especially John McAfee is running for President in November.

Oh.. please let's ignore that loser John McAfee. He has done enough damage to the cryptocurrency market by promoting scam projects. And I heard that a few days back he labelled Bitcoin as a "shitcoin" and advised his twitter followers to invest in altcoins rather than Bitcoin.

Anyway, coming back to the topic, I am not very excited with these government backed cryptocurrencies. I am afraid that they will be just the digital version of the fiat currency. And by the way, I wouldn't even regard Marshall Islands as a sovereign nation. It is a small group of coral islands (with a population of 50,000 or so) and ruled by the United States military.

[mrquackquack]

Just like everything else I think the government has to to stay on top of the monetary "issues" as well.

[thesmallgod]

This is very good news about the crypto market but it is quite bad for the economies of many countries. What do you think about the corruption of the political system to use money to launder money and tax gradually fading in a confusing way?
I think there is no reason for governments to create cryptocurrencies for anything, this should be for private businesses. I am still from my old point of view that any government that creates their coin is suspicious.

There are always two sides to a coin. Anything that has advantages will also have disadvantages. The issue of money laundering is not going to be peculiar to the coin. Up to date people still launder money using fiat even though there has been a massive fight against this. Just because there may be an escape route to money laundering using the coin does not warranty that they should not create their coin. I am sure they must be analyzed the pros and cons of this and probably when they that the benefit overweighs the disadvantage, they would have gone with the idea of making the coin. My only fear is how some countries that generate revenue mostly from taxes going to cope and make things work.

[Barbut]

Countries are testing digital assets for years! Japan, Australia, Switzerland, Estonia, and others, are doing that openly from before 2014! Some other countries doing that in secret! Here it's not important digital, we need to be accurate and say crypto! Digital fiat exists for years, it's fiat money in digital form! Cryptocurrencies are not special just because of digitality, they are special because of the Blockchain technology behind.

[The Sceptical Chymist]

Canada.

This one scares me a bit.  I don't think government-backed cryptos are a good idea at all, but I'd hate to see them spread to North America where I live.  It's bad enough that banks can track all your financial transactions if you're using a debit card or checking account, but to have the government itself be able to do the same?  I would definitely not want to give up that much privacy to a government that I don't trust, and certainly not one with Donald Trump as the head of it.

IMO people should be protesting this, but my guess is that most people don't even understand what these proposals are all about since most don't understand what cryptocurrencies really are.  Governments have a long history of getting laws and similar things approved without much protest (think Prohibition in the 1920s in the US), but I do hope there's at least a little resistance in the countries which seem to be moving toward government-backed cryptos.

[mrquackquack]

The "Big Daddys" a.k.a. the presidents leaders so on and so forth of the world are more than likely probably not going to just let someone come in and start taking all of the nuts. Chances are they are thinking about this and have probably already thought about this and well people need to start thinking like them if they want to get ahead. You can't build anything when everybody thinks that they are a king. Look at China for my understanding not so happy about Bitcoin but guess who is running the mining show.. China.