What is the difference?

[bohr]

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

If they accept the cryptocurrency, then surely they will create a cryptocurrency of their own country. And there they can check the entire trading history of people in their country and to control it easily, I don't expect them to do so because if it comes true then all both current altcoins will die

There are already a lot of countries planning to make their own cryptos so that it will be a regulated by their own local government. It's not that far for every country to do it except to those who had decided to ban it.
We got Dubai, Venezuela, Estonia, etc.
I wonder how would people feel that their transaction are visible to their own government.

Reference: https://coinsutra.com/national-cryptocurrencies/

It is definitely going to happen but it is up in the air how popular those coins could be, after all even if the country in which I live created its own cryptocurrency I know that I will never use it, there will be no point in using such cryptocurrency when we already have fiat currencies and I can use cash that leaves no trace in any blockchain, if I have decided to use bitcoin is because of the freedom that it gives me and the fact that is decentralized and I'm not going to change that for a centralized cryptocurrency.

[stephanirain]

I not wait that governments to adopt crypto i only want that governments to not ban crypto, but if they centralize it they expect tax, what i want is that to have most shops to accept crypto.

If stores accept cryptocurrencies, they will certainly be taxed and paid to the government. But if it happens then it will not be a cryptocurrency anymore, It's difficult to make such decisions. And if the government bans cryptocurrency, I think this market will not be able to grow in the future

Indeed, many cryptocurrencies are not taxed by the government. Personally, I do not want to have only crypto as a mode of payment. Both fiat and crypto is needed and can be used depending on the nature of the transaction. Especially in the context of my country, it is almost impossible to implement only crypto since most of the population is ignorant of the existence of such technology.

[fuer44]

actually I also do not agree with discourse or thoughts like that. if the government legalizes crypto and makes it centralized, then the actual crypto function is lost here because it will be the same as fiat transactions in digital or online form. I think it's better like this, crypto let it have its own space and the government is enough to not prohibit it.

[huu78]

Indeed the pros cons of many people if their governance adopts the blockchain. Partially agree because the government currency is stable and secure because it is held by the Government itself. That does not agree to impose them using it while others are more profitable and useful or such.

[bgaf]

If it includes government then it will be all boil down to tax. This is their goal if the cryptocurrency is put on legal state. How come they always argue with its development? Of course this is because they can't benefited from it and can't accept the fact that they can't extort some money out of huge income on crypto business.

[blckhawk]

It could be the same in terms of use, but the implementation could be different. Hence the name 'crypto' currency, this type of currency relies on transparency (blockchain), security (cryptography), and validity (irreversible transactions).

On the contrary, digital fiat could still run the same way of centralization as a centralized blockchain, but is more private, and could have ammendments and modifications more easily than a hashed linked list of blocks offer.

[batang_bitcoin]

Let's just embrace the reality that we are still far from that scenario that we will use crypto in our daily lives and replace fiat which we are already used to. The government is very strict with this kind of innovation because it evades their centralized power and authority.
They might just inform the people that centralized crypto that they'll create is just the same as digital cash to avoid confusion from explaining it.

[Rossi$]

The governments of developed countries express the interests of large business, including banking. Banks want to control governments and businesses, and for this one must not allow anyone else to issue money. Bitcoin cannot be undone, which means banks have decided to swallow it with their state cryptocurrencies.

[cassavachips]

Now there is already a digital currency and it really helps the community, the digital currency will be very much different from currencies that use blockchain technology. Many advantages of the blockchain that are not owned by digital currencies that are used now

[andriarto]

Let's just embrace the reality that we are still far from that scenario that we will use crypto in our daily lives and replace fiat which we are already used to. The government is very strict with this kind of innovation because it evades their centralized power and authority.
They might just inform the people that centralized crypto that they'll create is just the same as digital cash to avoid confusion from explaining it.

if the government does that, I think it is no different from the current fiat currency which has a centralized system. in this case the form is only different. freedom of transactions with a decentralized system, in fact no one can control it, all purely from demand and supply

[zhekinsp]

Ordinary digital currency is not the same as cryptocurrency. Crypto is based on blockchain, that's the main feature here. Blockchain is a new technology, which leads to many new possibilities if we talk about currency.

AFAIK, digital money is broader meaning, so cryptocurrency is like a branch separated from it. Building on a blockchain makes it different, and that means more power and confidence.

Any currencies which are using via internet for transaction and for payment is digitized money but cryptos are more transparent and secured compared to the banking servers and ledger which doesn't need any third party but for digital fiat transaction we need bank account.

[Bitbtc8]

Governments can't force people to use centralized coin unless they find a way to kill other decentralized coins, we already have decentralized exchanges as well so the freedom will always be present

[BChydro]

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.

Many people might dream that the government will adopt crypto currency but that is far from the truth and no government will pass those adoption but all the governments around will world will look for a digital platforms and might force the citizens to use every transaction digitally so that they will have complete control over the finance and monitor every transaction and they might integrate blockchain at a later time.

 

[samuraijin]

digital currencies where funds can be added at any time and they are centralized, developers and groups of digital currencies can manipulate there, unlike crypto currencies have a limited and un-centralized supply so there is no manipulation there, when you want to send money to your friends, maybe with digital currency you can only do a screenshot but for crypto currencies you can provide tx id a proof of transactions that can be seen in public, digital currency is suitable for corruptors playing but not in crypto currencies

[seleme]

As it looks hard for the average Joe, the tricky payment flows can be detected by the professionals. That's why the secrets of money laundering are unknown by many people who work on the banks, they are supposed to do what their boss order. Blockchain transparency is far from these realities, governments will not want to take a headache just for the "sake of transparency".

[makolz26]

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.

Many people might dream that the government will adopt crypto currency but that is far from the truth and no government will pass those adoption but all the governments around will world will look for a digital platforms and might force the citizens to use every transaction digitally so that they will have complete control over the finance and monitor every transaction and they might integrate blockchain at a later time.

 

So far the adoption of crypto by the government will for sure happen in the future, let's not close the door for it as we need our government to handle this kind of matter, although they can't control but at least have some regulations that they will implement for the protection of the team of the project and especially investors.

[Ucy]

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

Transaction history. You can find transaction history publicly by searching a certain public address. Unlike digital cash that you can only see transactions if the owner of that money show it to you.
If the government adopt that it will help them to monitor every balance enter on that address and they will know how much money in it.

I think it's beyond Blockchain transaction history. Afterall they have more advantages with the current bank ledgers. They will probably go for private "Blockchain" or for some sort of immutable ledger/pseudo-Blockchain. I bet there are serious research towards this or they already have the solutions.

[Henrytrust]

The government would certainly prefer to have their own cryptocurrency so as to have control over the value and ensure that its relatively stable. It may be easier to get such tokens exchanged for other more popular cryptocurrency like bitcoin. It would be a great boost to the financial freedom dream which cryptocurrency is Striving to accomplish.

[batang_bitcoin]

Let's just embrace the reality that we are still far from that scenario that we will use crypto in our daily lives and replace fiat which we are already used to. The government is very strict with this kind of innovation because it evades their centralized power and authority.
They might just inform the people that centralized crypto that they'll create is just the same as digital cash to avoid confusion from explaining it.

if the government does that, I think it is no different from the current fiat currency which has a centralized system. in this case the form is only different. freedom of transactions with a decentralized system, in fact no one can control it, all purely from demand and supply

Yes, that's the point. The form is in digital but there's no actual difference from the currency that we've used to use. There's already digital cash that payment processor offers, these are the known third party companies that provide services to their consumers.
It's decentralized so obviously, there's no one that can control it. There could be manipulators that agree to do the same thing as they have the power to move a bit the demand which we always suspect of manipulation.

[marcous]

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.

Many people might dream that the government will adopt crypto currency but that is far from the truth and no government will pass those adoption but all the governments around will world will look for a digital platforms and might force the citizens to use every transaction digitally so that they will have complete control over the finance and monitor every transaction and they might integrate blockchain at a later time.

 

So far the adoption of crypto by the government will for sure happen in the future, let's not close the door for it as we need our government to handle this kind of matter, although they can't control but at least have some regulations that they will implement for the protection of the team of the project and especially investors.

I still doubt that cryptocurrency will be adopted by the government if viewed from the governance system in my country. maybe not all countries, but there are too many cons regarding crypto if it is related to the financial industry. moreover it is only a project in which a project is rarely realized in the long term.