You think that governments might adopt cryptocurrencies to replace fiat currency

[zeingrind777]

Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?

Cryptocurrency will likely replace fiat in the next 100 years. At present fiat money cannot be replaced with cryptocurrency because it is still needed by the community, especially the lay and rural communities. The government will also maintain their country's currency thereby limiting the use of cryptocurrency in certain countries.

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[Ashong Salonga]

It is far beyond to happen as of the moment because there are still lots of economic issues as well as global issus that are needed to have more focus rather than adapting cryptocurrency as a whole. Also, before thar thing could possibly happen, the whole world will need to full adapt the usage of cryptocurrency in which as I can see right now is still impossible to happen since there are lots of countries that are still not capable of the adaptation because of their technology capacity which most still cannot cater cryptocurrency usage. Also, there are lots of laws that are needed to be considered if cryptocurrency will replace fiat because every nation have their own fiat currency that serves as their identity as well. It can be more possible to adapt using cryptocurrency because it is realistic rather than pushing the idea of cryptocurrencies to replace fiat. Maybe that could be possible if our world will be dominated by modern technology in which no more materials can be used to produce fiat currencies. But as of now, it is far beyond to happen.

[Kelvinid]

It is just a matter of time if the government will accept and consider crypto a safe way to be used but somewhat like they are still not believing that cryptocurrency is the future. Yet, they just believe that fiat is still good to be considered as a currency rather than adopting new one in digital form. However, it is already been talked about and also waiting for SEC approval. The lengthy journey of crypto never ends shortly, may in the future the government realizes how was crypto meant importance to the growing and developing environment.

We may could say that it was far from happening but knows exactly. The twist in minds will happen and could see their support to this case.

[Sanugarid]

I have positive approach for this topic,It is possible and government will adopt it may be not early but in future .Adopting crypto will be need of government.Its era Of modern smart technology and new generation sick of from old trends like traditional banking systems.Artificial Intelligence overtaking the corporate sectors why Because Artificial Intelligence more productive than manpower.

Cryptocuurency save our time and no need of any third party to make transaction locally or globally,This is reason business tycoons and investors attract from the crypto and use it in daily life.

I am sorry for contrasting what you have said but I dont think that the cryptocurrency will be adopted by the government because cryptocurrency's price in the market is not stable and needs a lot of improvement and besides there are a lot of things does the fiat can do but not the cryptocurrency coz as what I said it needs more improvement.

Just like what I think that in my opinion the government will not adopt cryptocurrency as a means of payment later because we know that cryptocurrency is unstable and also now fiat currency can also be used without having to meet face to face and we can make payments using the internet using fiat, so I think there is no way the government will adopt cryptocurrency as a means of payment. But, what will happen later we do not know, this is just my personal opinion.

Maybe that can happen if some disadvantage are being solved and being innovated. Government can really adopt cryptocurrency, but to replace fiat that is not sure because we are now used to use fiat when buying something. And one thing also, there are still some countries that are banning cryptocurrency for some reasons. They are thinking that this is a scam and the real thing about that is because they cannot charge users taces from using bitcoin. We all know that cryptocurrency is decentralized, meaning there are no group of people who are organizing or running cryptocurrency.

[Greatchu]

No it's not going to happen since government hate the decentralized ability in many coins in crypto space today, it's one of the main reasons Central Banks are building their very own digital currencies but i bet people love making money which is why crypto coins will be more favourable over all

[Colt81]

No it's not going to happen since government hate the decentralized ability in many coins in crypto space today, it's one of the main reasons Central Banks are building their very own digital currencies but i bet people love making money which is why crypto coins will be more favourable over all

I don't think government hate cryptocurrency because there are already a lot of countries who accepts crypto like US, UK, japan, Australia, etc. The only reason why the government will not adopt cryptocurrency to replace fiat is they will support fiat currency no matter what because even it is not profitable, it is the material thing that we use in exchange for goods and services.

[target]

No it's not going to happen since government hate the decentralized ability in many coins in crypto space today, it's one of the main reasons Central Banks are building their very own digital currencies but i bet people love making money which is why crypto coins will be more favourable over all

I don't think government hate cryptocurrency because there are already a lot of countries who accepts crypto like US, UK, japan, Australia, etc. The only reason why the government will not adopt cryptocurrency to replace fiat is they will support fiat currency no matter what because even it is not profitable, it is the material thing that we use in exchange for goods and services.

There are just countries that officials aren't corrupt and it could be where digital fiat that is using blockchain will be adopted. One country adopting this cryptocurrency will lead to another til all will also be adopting cryptocurrencies. Today there are number of countries who are adopting crypto and IRAN had just started trying.

Replacing fiat may take years and years, we are just in the early phase of adoption so we are yet not seeing where all these will move forward. But the countries that first bann BTC are now adjusting and had been unbanning it.

[nicster551]

They will adopt cryptocurrency cause they have seen the potential of it but I don't think that replacing our traditional fiat currency will be replaced by them. They will not replaced them but the community or the people will do. Thats the essence of blockchain/cryptocurrency, we dont need a central authority to hold us. Crypto is freedom.

[arimamib]

No it's not going to happen since government hate the decentralized ability in many coins in crypto space today, it's one of the main reasons Central Banks are building their very own digital currencies but i bet people love making money which is why crypto coins will be more favourable over all

I don't think government hate cryptocurrency because there are already a lot of countries who accepts crypto like US, UK, japan, Australia, etc. The only reason why the government will not adopt cryptocurrency to replace fiat is they will support fiat currency no matter what because even it is not profitable, it is the material thing that we use in exchange for goods and services.

There are just countries that officials aren't corrupt and it could be where digital fiat that is using blockchain will be adopted. One country adopting this cryptocurrency will lead to another til all will also be adopting cryptocurrencies. Today there are number of countries who are adopting crypto and IRAN had just started trying.

Replacing fiat may take years and years, we are just in the early phase of adoption so we are yet not seeing where all these will move forward. But the countries that first bann BTC are now adjusting and had been unbanning it.

Blockchain systems are indeed more used as transparency and will usually be rejected from countries, because most countries do not want the world community to know their economic system. but on the other hand, this system is quite helpful to reduce the level of corruption due to transparency. although it can still be manipulated for transactions, but there will definitely be a track record.

[imstillthebest]

fiat didnt replaced other currencies or payment methods but other payment methods are still there workable , its only up to the person if what he like to use  . the old way or the new way   . government creating thier own crypto and replace their standard fiat is better to hear than crypto replaced fiat because atleast , its still based on banks and governments  while crypto isnt based on anything   . the essence of being a fiat is still thier but it only became upgraded  .

[sjbi]

This will not happen in the nearest future. However, governments are positive about digital currency as some countries have already jumped into the idea of creating their own digital currency. But I wonder what to do with the coins in the market if governments issue their own digital currency? I think most of the coins in the market will disappear once this happens.

[Faxmate]

This will not happen in the nearest future. However, governments are positive about digital currency as some countries have already jumped into the idea of creating their own digital currency. But I wonder what to do with the coins in the market if governments issue their own digital currency? I think most of the coins in the market will disappear once this happens.

yes you are right this will take a long time for the government to start its own digital currency, but if they started its own currency then there will be no such freedom as in the bitcoin, it may be under the control of many restrictions, i think after that may be people will still use these digital currency, but the only benefit would be that the useless currency will vanish.

[codegnome]

I think governments themselves will not want to adopt cryptocurrencies. However, the "old school" of economists will sooner or later leave the Central Banks and technology will win the war itself. Cryptocurrencies are the future of the financial world, so sooner or later paper money will have to be replaced by digital money, and here are cryptocurrencies.

[angrynerd88]

Mostly seen that government are against the cryptocurrency,but some countries government also in favor of crypto.We talk about the majority and found that majority is against.There are some reasons and one reason is that majority of population unaware about the cryptocurrency and they do not care about the crypto.There is need to aware the people to use crypto and aware benefits of crypto.
If majority of population use crypto and feel easy in use of crypto can convey the government to legalize the crypto because majority is authority.

[TrevorS]

In any case, the state will take such measures. After all, by and large, the state has no choice, because cryptocurrency continues to develop and spread,
more and more countries are creating legal fields for regulating cryptocurrencies and are also introducing cryptocurrency into their payment services.

But cryptocurrency is not subject to any taxes that the state so needs and its normal functioning. Therefore, the best thing the state can do is not only create a new legal field,
but also financially adapt cryptocurrency to its financial systems to one degree or another. Thus, the state will take control of the cryptocurrency and partially receive various
kinds of profits from this, from financial control to the control of the release of new tokens.

[wxa7115]

In any case, the state will take such measures. After all, by and large, the state has no choice, because cryptocurrency continues to develop and spread,
more and more countries are creating legal fields for regulating cryptocurrencies and are also introducing cryptocurrency into their payment services.

But cryptocurrency is not subject to any taxes that the state so needs and its normal functioning. Therefore, the best thing the state can do is not only create a new legal field,
but also financially adapt cryptocurrency to its financial systems to one degree or another. Thus, the state will take control of the cryptocurrency and partially receive various
kinds of profits from this, from financial control to the control of the release of new tokens.

They will try to take control of this market that is a given, but are they going to be successful? I doubt it, this market was specifically designed to resist them and they do not know how to deal with this, how are they going to force people to tell them how much bitcoin they are holding when they cannot identify them?

This is going to be a big problem for those government and right now they do not have an answer and even if in the future they develop one the developers will most likely adjust and modify their coins to resist those changes.

[Baimovic]

maybe there are only a few countries or local governments that will adopt cryptoqurrency and not for the whole, because there are still many countries out there that don't recognize or even prohibit the cryptoqurrency industry. but I believe that blokchain technology will be very much needed in the future, but digital currency (crypto) will never replace fiat currency or as a transaction tool like paper money.

[TemTum]

TemTum's MOU with a nation state shows governments are looking to move to digital currencies

The fact temtum has the MOU and will be the first is very exciting times - this is not a digitalisation of a dollar, but a government issues crypto using temtum