Why are the world’s governments not using cryptocurrencies?

[plvbob0070]

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?

Because of decentralization of crypto currency. This will make the crypto more private and cannot be controlled by anyone. The taxes and laws that manipulate the income is not welcome here so I think governments are afraid in this type of stuffs.

[red4slash]

A very simple answer to this questions, why governments not using cc? Is that cryptocurrency is not in favor of governments. Majority of  advantages offered by crypto are for general public not for governments.
A peer to peer transaction may benefit two ordinary person but it surely hurting middleman like banks that are backed by governments.

in the use of crypto, only two people carry out transactions without a third party, in this case the government in some countries may still have a system of seeking income from existing taxes and also the country's business sector.

[Zionatin]

A very simple answer to this questions, why governments not using cc? Is that cryptocurrency is not in favor of governments. Majority of  advantages offered by crypto are for general public not for governments.
A peer to peer transaction may benefit two ordinary person but it surely hurting middleman like banks that are backed by governments.

Basically to be in control and trace back how much people are earning and having access to the bank accounts if need be. With crypto, this is not possible since it is relatively private as long as the wallet you use cannot be traced back to you. It will also hurt banks since banks allow people to take out loans in fiat and if people are using crypto they won't be taking fiat loans anymore.

[teosanru]

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?

Welcome to the Forum. Here on this forum we try to figure out pretty much the same thing together. We ask each other what conspiracy is going on 

Jokes Apart truth is that it's not that easy that it looks like. You have just read the advantages of cryptocurrencies but maybe you forgot to read the disadvantages that come along with it. Moreover it's okay for developed nations with literacy rate over 95% but there are a few countries with literacy rate below 70% do you expect people there would understand cryptocurrency and nodes which would be used to transact in such cryptocurrencies?? Thing is that cryptocurrencies would take a lot of time to settle down in our normal lives. First governments would try to eliminate these traditional cryptocurrencies which pose a threat to them and only after that you would be seeing cryptocurrencies started by various governments.

[specialmoon]

I think it's a good question and there are several reasons why governments don't use cryptocurrencies.

In the first place, money control is largely lost, because with the use of blockchain technology all processes are transparent, while in general the fiat broadcast in many countries is not entirely transparent.

On the other hand, people are not yet accustomed to cryptocurrencies, such a change can generate delays in trade.

It is also worth mentioning that to date no cryptocurrency is ready for such massive use, there is still the problem of scalability, although its solution is being worked on.

It is moving towards a general adoption of cryptocurrencies, but processes need to be consolidated and will take some years.

[BartS]

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?

Governments from the beginning of time have known that it is on their best interests to control the money supply, in the past this was impossible thanks to gold but during the last century governments have finally been able to take control of the money supply with their fiat currencies and they love all the benefits that they get out of this.

But now they are realizing that such control may be coming to an end with the introduction of cryptocurrencies, fortunately for them so much time has passed since people used real money that they do not understand why they need bitcoin but if the economy keeps being mismanaged as it is now people will learn about the dangers of a currency controlled by the government and will look for other options.

[Oneandpure]

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.

Why not have trust with government, they have stronger reason why not accepted bitcoin as legal currency payment transaction because their people less information about how to use bitcoin, many their region do not have higher speed internet access and make government not allowed payment using bitcoin and altcoin and many market not support and ready to use bitcoin as payment transaction.

[Polar91]

A very simple answer to this questions, why governments not using cc? Is that cryptocurrency is not in favor of governments. Majority of  advantages offered by crypto are for general public not for governments.
A peer to peer transaction may benefit two ordinary person but it surely hurting middleman like banks that are backed by governments.

That is in fact the major reason why, but still there are some ideas we could do to integrate cryptocurrencies and the government. In the first place, it is not really necessary that cryptocurrency should be centralized and should be handled by the government. I've just think of some ideas that maybe they could have their regulation on the local exchanges that their country has. What if they try to incorporate the exchanges to banks? Where people could choose cryptocurrency as their option of storing their money in a sense that banks will be the one that will serve as the exchange and people depositing money should pay the banks for taxes in exchange of their funds to be transferred to cryptocurrency.

[Dr.Osh]

there are many things that governments cannot do with cryptocurrency, so they don't have full control over it, so cryptocurrency is sometimes prohibited from being used in some countries, and it is forbidden to be used as a transaction tool. In addition, other shortcomings are that the government cannot take taxes, and they will not take advantage of fees. although this is good technology, but until now, the government has not used it 100%. I heard that some governments are working with crypto companies.

[yulionoo]

I think some of the world's governments do not use cryptocurrency because they have not yet realized the potential and benefits that can be obtained from implementing cryptocurrency. secondly, they are afraid that if they legalize crypto, the sovereignty of their national money could be threatened. and finally the crypto is decentralized and anonymous. The government does not like something that cannot be controlled and anonymous crypto can be used for illegal or criminal transactions. and finally most of the people are not ready to use cryptocurrency and the government also does not yet have an infrastructure that supports cryptocurrency.

[Divinespark]

I think in order to control the economic and political situation of a country. FIAT is the most important thing for them to do, so governments of countries don't like cryptocurrencies because if there are too many people using cryptocurrencies, the government will not be able to control the situation the economy and the economy of their country will not be able to develop, that's why governments and banks of nations are opposed to cryptocurrency

[tianglistrik]

I think in order to control the economic and political situation of a country. FIAT is the most important thing for them to do, so governments of countries don't like cryptocurrencies because if there are too many people using cryptocurrencies, the government will not be able to control the situation the economy and the economy of their country will not be able to develop, that's why governments and banks of nations are opposed to cryptocurrency

It is difficult to impose the use of crypto on world governments, all governments have different policies and everything they do has an impact on their country, and if crypto is used as a transaction they will certainly have difficulty in controlling the economy

[Aying]

there are many things that governments cannot do with cryptocurrency, so they don't have full control over it, so cryptocurrency is sometimes prohibited from being used in some countries, and it is forbidden to be used as a transaction tool. In addition, other shortcomings are that the government cannot take taxes, and they will not take advantage of fees. although this is good technology, but until now, the government has not used it 100%. I heard that some governments are working with crypto companies.

Absolutely!  and in addition government also dislike of cryptocurrency uses, such as other illegal transaction that still widely spread and many huge investors will interfere of what governments movement. that's what I think why government still not using crypto. but for sure they thinking of it and have their own movement to take control crypto. let's be prepared.

[cryp24x]

Well, they want to have power and control over it. They really wanted to regulate it so that they can monitor all transactions and accounts in Blockchain. Cryptocurrency have may advantages and many uses but we really need to weigh things so that every government will accept it.

[Oceat]

Well, they want to have power and control over it. They really wanted to regulate it so that they can monitor all transactions and accounts in Blockchain. Cryptocurrency have may advantages and many uses but we really need to weigh things so that every government will accept it.

The government is always on the regulation sides that's why they never ever used a decentralized cryptocurrency. Hence, the same that happens in China they wanted to create their own cryptocurrency that they can control plus the risk of having Bitcoin with a strong volatility it makes the government so certain to stay away with it.

[ubercool]

Because they can't manipulate it. Period.
They give allot of reasons but most of it are just cover ups for real reason.

[BitcoinsGreat]

A very simple answer to this questions, why governments not using cc? Is that cryptocurrency is not in favor of governments. Majority of  advantages offered by crypto are for general public not for governments.
A peer to peer transaction may benefit two ordinary person but it surely hurting middleman like banks that are backed by governments.

But there are some countries which have legalized bitcoins. How their government survive by this act ? I think this is lack of knowledge that if bitcoin is made mainstream currencies, it will hurt the government. We should see the case study on how the crypto friendly governments are operating. This way we can easily get information and adopt to crypto currencies.

[longyenthanh]

A very simple answer to this questions, why governments not using cc? Is that cryptocurrency is not in favor of governments. Majority of  advantages offered by crypto are for general public not for governments.
A peer to peer transaction may benefit two ordinary person but it surely hurting middleman like banks that are backed by governments.

But there are some countries which have legalized bitcoins. How their government survive by this act ? I think this is lack of knowledge that if bitcoin is made mainstream currencies, it will hurt the government. We should see the case study on how the crypto friendly governments are operating. This way we can easily get information and adopt to crypto currencies.

Do you think those are really cryptocurrencies, that are legalized by different governments? Think again. My friend to take there share or remain in competition governments are legitimating only those currencies that are regulated and can be monitored and controlled by the government bodies (AML and FATF compliance cryptocurrencies).

[JeffBrad12]

Absolutely!  and in addition government also dislike of cryptocurrency uses, such as other illegal transaction that still widely spread and many huge investors will interfere of what governments movement. that's what I think why government still not using crypto. but for sure they thinking of it and have their own movement to take control crypto. let's be prepared.

It's not because the criminality or illegal transaction because if using that as parameter then traditional paper money will not be used because it has too much illegal untraceable transaction for example criminal who use it for dealing drugs. the government just worry that the crypto if implemented to their governance will threaten the economy because it's too fluctuative.

[amyshek1979]

With a modern fiat financial system, the state can charge taxes automatically. It’s hard for me to imagine such a system based on Bitcoin that will allow to do this. In addition, it needs to be built, and it will take more than 5 years.