Why are the world’s governments not using cryptocurrencies?

[blckhawk]

It's not because they're ignorant, but rather they choose to stay away from adoption to keep current banking systems that (1) provide them easy tracking of person's details for whatever their reason is (criminal tracking/surveillance), and (2) cryptocurrencies give people the power through financial freedom, which the government doesn't want since illegal activities might increase in number while getting harder to monitor and solve such cases on an anonymous blockchain.

[Shenzou]

I’ve recently learned the many advantages of cryptocurrencies and how they can revolutionize the way we use money around the world, so why are the world’s governments not adopting them to be used as a form of currency?

There are many advantages of cryptocurrencies that surpass fiat currencies that we used on a day to day basis such as better security due to blockchain technology, cryptocurrencies not really being affected by global financial events as it is a decentralized currency
   
Why are the governments not adopting cryptocurrencies? Is it a world-wide conspiracy by the elite in order to keep in power? Or is it that the people in charge are rather ignorant of the advantages of cryptocurrencies in order to keep the current system of power?

Cryptocurrency is all about decentralization and being your own bank and making transactions without having to relay on any third party, and for governments that is not something that they can afford, because they would have no control over the flow of the money and where or from who the transactions are going and coming from, so there is no point of creating a crypto that is controlled by the government that is centralized, crypto can only accepted by the people because it is controlled by them and used as a peer to peer payment methods, and not as an official payment method made by the government.

[BeManga]

I’ve recently learned the many advantages of cryptocurrencies and how they can revolutionize the way we use money around the world, so why are the world’s governments not adopting them to be used as a form of currency?

There are many advantages of cryptocurrencies that surpass fiat currencies that we used on a day to day basis such as better security due to blockchain technology, cryptocurrencies not really being affected by global financial events as it is a decentralized currency
   
Why are the governments not adopting cryptocurrencies? Is it a world-wide conspiracy by the elite in order to keep in power? Or is it that the people in charge are rather ignorant of the advantages of cryptocurrencies in order to keep the current system of power?

based on some news some country want to adopt blockchain
but not bitcoin because bitcoin is decentralized and they cant control it

[d3nz]

We can't trust the government 100% on this and i am sure there are some people in the government that are already making use of a privacy coins to make anonymous transactions. Some bank workers are already transacting with bitcoin. Some in the government knows about crypto and shows interest but what is keeping them back is FUD and threats.

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framework that would define what is legal or not and without any protection? I don't think so.
Using cryptocurrencies as an individual for private purpose is one thing and using it to run economy and society in some state is totaly another.

Yes, i also believe these are some group of confused people with super power!!!

They sure using privacy coins and someone managing their wealth to be hidden since untraceablr and using a stealth addresses which can hide your real transaction on the blockchain which really hard to track.

And we cannot trust government since they are the one who is really has the power to manipulate people and use their wealth.

[LUCKMCFLY]

~snip~

Currently there is a lot of uncertainty on the part of some governments about bitcoin, many economists who are advisors do not think the cryptoactive is good because they consider it as a high-risk investment, however lately a lot of rumors have been brewing about a possible fall of the economy, negative interests and the US initiative for the creation of the digital dollar using Blockchain.

Some countries like China are preparing their economy for the launch of their cryptocurrency, and take the opportunity to speak ill of Bitcoin, some German banks are very involved in the issue with Bitcoin and Crypto, they are giving freedom to manage Bitcoin, and the radical Russia somehow wants to ban or become anti-bitcoin, this article tells it: Russia Reportedly Considers Ban on Using Crypto as Means of Payment, Cointelegraph what governments are looking for today is to obtain liquidity anyway, I think that is the premise, in the end they will end up accepting Bitcoin technology and market because it offers better guarantees that the traditional economy.

[crwth]

Let’s face the facts. Just like what others said, most governments want to have control over almost everything. And when there is control, there is power. Power translates to money. And money is almost fuel for anyone to do almost anything. Bitcoin = Money ≠ Control. They won't want that at all.

What we could do is to vote those who are in support of blockchain technology and let them be the deciding factor towards a decision that is good for the people. At least if they are vocal with the use of these kinds of technology, then sooner or later, there would be more applications towards the use of cryptocurrencies.

[cr1776]

The obvious answer is that governments want to control people and consequently they want to control the money that they use.  They can inflate the value away, they can seize it, they can censor it, they can ban people from receiving payments in it, and they can put currency controls on it at the border.  In short, controlling money, means controlling people, and that is just a short incomplete list of things governments don't like.

Inflation is a huge hidden tax on everyone and governments do not want to give that up.  Bitcoin (or other non-centralized crypto, of which there are almost no others) prevents or at least helps to limit, most of those issues.

[Wintersoldier]

The obvious answer is that governments want to control people and consequently they want to control the money that they use.  They can inflate the value away, they can seize it, they can censor it, they can ban people from receiving payments in it, and they can put currency controls on it at the border.  In short, controlling money, means controlling people.

Inflation is a huge hidden tax on everyone and governments do not want to give that up.  Bitcoin (or other non-centralized crypto, of which there are almost no others) prevents or at least helps to limit, most of those issues.

Basically it is not the government that will really use it, it is their people that will determine what could be the impact of bitcoin to their country. Government could stop it, but most of the time, they aren't because they trust their people and their people trust them. Just like in my country, Government is not utilizing bitcoin but they allow people to use it. Meaning to say that the point of this topic should center on the people, and not directly to answer the question why do worlds government not using crypto, and the answer to that is because they will definitely not use it because it is more beneficial for people.

[Sirait]

too soon to conclude the world government does not use cryptocurrencies, some state governments have prepared themselves to adopt cryptocurrencies, for example, China

Country governments around the world will definitely use cryptocurrency as an alternative payment method in their countries, just wait until that trend arrives.

[Shasha80]

It is very clear the government does not use cryptocurrency because it cannot be controlled, the price is volatile, transparent, and
widely used for illegal transactions. This makes the government not legalize cryptocurrency even though there are many the benefits
that can be obtained. Then from that impact on the development of crypto which is quite slow, because lack of support from the
government. As of now the number of people using cryptocurrency is still small, but I am optimistic in the future cryptocurrency users
will multiply. If that happens then the government will be forced to support cryptocurrency.

[GideonGono]

In actuality, some are still researching for possible integration of the blockchain technology in their current monetary system like USA for example and also there are countries like China who are on the verge of releasing their own cryptocurrency backed by their central bank. It is not about cryptocurrency though but rather the blockchain technology itself had been a major breakthrough in hastening the transactions which is vital in the economy that would yield to the positive exponential growth.

[Herry Toms]

The best reason why the world's governments are not using cryptocurrencies is that they are corrupt and Bitcoin or cryptocurrency is not for Currpot people so I think nothing is better than this reason.

[stompix]

There are many advantages of cryptocurrencies that surpass fiat currencies that we used on a day to day basis such as better security due to blockchain technology, cryptocurrencies not really being affected by global financial events as it is a decentralized currency

Lols, this shows quite clearly how ignorant some of the crypto zealots are!
Do you think that by using cryptos a country will be safe from financial turmoil? You've just managed to find the holy grails my friend.

Let's say Saudi Arabia is using bitcoin. It exports 9 million barrels a day worth 90 000 BTC.
Suddenly China and the US ban gas cars and the demand for oil plummets by half and Saudi Arabia's exports drop to only 40 000BTC,
How will that shield it from global events?
A series of terrorist attacks happen in Thailand making tourist numbers on which the country depends go down by 90%. How is bitcoin going to help? How would bitcoin help Argentina if the country is spending more than it produces?

You guys really think that cryptos and the blockchain are the solutions for everything!
Reality check, no it's not!
Somalia isn't going to become the world's biggest car manufacturer by adopting Bitcoin, Angola is not going to become the top tourist destination and for certain Moldova is not going to have a higher income per capita than Luxembourg!

Cryptocurrency is all about decentralization and being your own bank and making transactions without having to relay on any third party, and for governments that is not something that they can afford, because they would have no control over the flow of the money and where or from who the transactions are going and coming from?

Oh tell me, how were they doing this with paper money before the internet?
How have they been able to track this for millennia and they won't be able to do it now when they get a lot of help from the public blockchain?

In Rome, you could tax people while they used coins and everyone was dealing offline (lol) over the counter, spread through an empire where it took the taxman days to reach the most remote villages but no, it can't be done now when the government know how much you make, what car you drive, what house you own where you fly and how many nights you book in a hotel?

Seriously, bitcoiners are so childish sometimes.

[Fappanu]

Many governments have serious corruption that is uncontrollable because it is private and they manipulate every transaction here and adopting crypto can stop their malicious intent.

Because the Blockchain is transparent and whatever transaction we have here is recorded. This is why corrupt government officials fear this.

[Meowth05]

I’ve recently learned the many advantages of cryptocurrencies and how they can revolutionize the way we use money around the world, so why are the world’s governments not adopting them to be used as a form of currency?

There are many advantages of cryptocurrencies that surpass fiat currencies that we used on a day to day basis such as better security due to blockchain technology, cryptocurrencies not really being affected by global financial events as it is a decentralized currency
   
Why are the governments not adopting cryptocurrencies? Is it a world-wide conspiracy by the elite in order to keep in power? Or is it that the people in charge are rather ignorant of the advantages of cryptocurrencies in order to keep the current system of power?

I guess the main reason why the government doesn't like having cryptocurrency is because they cannot able to regulate it. Having a decentralized characteristic could be also a factor. Another reason is could be because it is not stable, it is hard to manage a currency that has no stable value. Due to cryptocurrencies anonymity, crime concerns could be another factor. Cryptocurrency is indeed good to use but in some aspect, we cannot remove the fact that has negative impacts as well.

[sunsilk]

I’ve recently learned the many advantages of cryptocurrencies and how they can revolutionize the way we use money around the world, so why are the world’s governments not adopting them to be used as a form of currency?

It is because the most popular is decentralized and the gov't doesn't have full control to it that's why they chose not to touch it until now. Some countries notably adopted it just like Malta and Japan but the rest, they have their own reason which is like that.

There are many advantages of cryptocurrencies that surpass fiat currencies that we used on a day to day basis such as better security due to blockchain technology, cryptocurrencies not really being affected by global financial events as it is a decentralized currency

How can you say that crypto's are not affected by global finance events? if you have noticed the last bear market, the stocks were also down so do bitcoin and the crypto market was. I don't think that's a coincidence but there's a true connection for both somehow.

[The Sceptical Chymist]

Why aren't governments adopting cryptocurrencies like bitcoin?  For one thing, there isn't enough bitcoin available for multiple governments to own significant amounts--just look at bitcoin's market cap and you'll realize this.  Bitcoin would have to be worth millions per coin in order for that to work.

Second, how could any government justify spending money on crypto when it's probably the most volatile asset out there right now?  And to what purpose would they put that crypto?  The government in my country isn't having any problems whatsoever with the fiat they're pumping out at alarming rates.  It works for them even if it's not going to work for anyone in the long-term.  My guess is that they don't see any advantage to using crypto, and it's too risky to boot.

That's the same reason banks haven't adopted bitcoin.  It's also the reason why most people haven't adopted bitcoin--it's too volatile to use as a currency, and there isn't a fiat crisis such that using crypto would become necessary.  For nearly all businesses and people, fiat works for them and bitcoin isn't a solution to an existing problem.

[Asuspawer09]

I’ve recently learned the many advantages of cryptocurrencies and how they can revolutionize the way we use money around the world, so why are the world’s governments not adopting them to be used as a form of currency?

There are many advantages of cryptocurrencies that surpass fiat currencies that we used on a day to day basis such as better security due to blockchain technology, cryptocurrencies not really being affected by global financial events as it is a decentralized currency
   
Why are the governments not adopting cryptocurrencies? Is it a world-wide conspiracy by the elite in order to keep in power? Or is it that the people in charge are rather ignorant of the advantages of cryptocurrencies in order to keep the current system of power?

It is not easy to implement also cryptocurrency and bitcoin is not yet completely implemented as a currency in a lot of countries,
A lot of people will surely be going to use fiat money since it is more reliable than cryptocurrency or bitcoin for sure.
A lot of countries is still not ready for this kind of technology and need a lot of time to adjust to implement this kind of technology.

[senin]

A decentralized cryptocurrency is convenient to use for people, but it is absolutely disadvantageous for governments. Cryptocurrency has practically nothing to do with their national money. For governments, cryptocurrency is a no-man's “currency” not secured by anything, behind which there is not a single state that cannot be controlled and which has very high price volatility. Cryptocurrency is not suitable for use in international trade agreements. Therefore, now governments are switching to the use of stable coins, which combine the capabilities of cryptocurrency and conventional currency.

[oktana]

The legal stable coin option is a great way to unlock more complicated things.

I still think long about how they will adopt bitcoin later, but for altcoin it's actually not too difficult because they only need to apply strict regulations for every coin that only has a CEO, each registration will also be a proof of responsibility for the development of adoption, so the government must ensure legal access first.