Stable coin for Every Currency

[ballerin and giroud]

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

For what? Why they need to create another stable coin? It is enough to use teather or USDT to use by many people. But I will be agree if the government will create their own stable coin, or they create their money fiat now in form cryptocurrency. And this has been done by the chinese government if I am not mistaken. They create their stable coin to avoid their citizen use teather or USDT to make a transaction on his country (correct me if I am wrong). And I think that the government will make their own cryptocurrency is really required, so as there is no rule who ban cryptocurrency anymore.

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[bitgolden]

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?

Definitely there are a lot of possibilities for government to go for their own stablecoin in the near future. Because, I guess every government wants to be part of cryptocurrency industry and with such stablecoins it will be easier for them to enter into our crypto space.

We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain. All I can guess is, there will be no need of going for some new crypto or all new cryptocurrencies related things  for having a stablecoin, they may simply make their fiat into blockchain. This way, your view of stablecoin for every country may come into live.

[Wildwest]

If the presence of stable coins then I'm very sure the cryptocurrency will be accepted in every country because it has its own advantages in getting profit, and most of the first spam prevention should be designed if not then That's where the inhibition that will happen, if later Crypto is already received in every country then I believe in every country will also create each coin.

[7788bitcoin]

Definitely there are a lot of possibilities for government to go for their own stablecoin in the near future. Because, I guess every government wants to be part of cryptocurrency industry and with such stablecoins it will be easier for them to enter into our crypto space.

It is a possibility that governments around the world might come up with their crypto but how successful it can be depends upon how it can attract mass usage if not it will die off eventually.

We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain.

First they need to study the feasibility and the risk to come up with a coin in the blockchain and they need to spend a lot of money and resources to study and once that happens then we are clearly see some countries trying that.

[yazher]

Some Countries nowadays are making their own digital coins, some are already planning to make one. Because they see the potential value that hose coins will make after we enter the Digital Currency era. Later on, every country in the world will have a digital version of its currencies which also backed up by their national currencies. New Zealand already creating some of that, base on the post I read last year.

[bttmember]

Stablecoin for every currency may not be a reality anytime soon but i think it will happen in 5 to 10 years because not only international payments become easy but local payments, salaries, taxes and even shopping becomes easy and cashless and also each transaction can be checked and tracked anytime.

[redsun114]

The realization is still too far for stable coins in each country, because not everyone in the government wants decentralization, so something transparent. People from banking and influential people in government who are cons to the crypto industry are also very opposed to this, surely they will do anything to keep the business going.

I agree government do not prefer decentralization but they are more curious on adopting blockchain technologies which may open doors for government based stablecoin in my opinion too. When government will be issuing stablecoin, I guess that will not remain 100% decentralized hence we cannot expect fully transparent and not fully secured for privacy reasons. I mean to say government will be able to track who are all using their coins and who are all holding it.

When governments start interfering into the cryptocurrency market in the name of stablecoins, then we will be having all new environment which will be having low percentage of the decentralization or zero the decentralization which means just transacting  our fiats but on blockchain; there will be no big differences/advantages.

[VDraci]

Where it's all going to end will be non volatile coins and volatile coins, Bitcoin will remain and so other coins but all countries will have stable coins backed by their own Fiat, I don't expect anything more than this

[leea-1334]

Definitely there are a lot of possibilities for government to go for their own stablecoin in the near future. Because, I guess every government wants to be part of cryptocurrency industry and with such stablecoins it will be easier for them to enter into our crypto space.

We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain. All I can guess is, there will be no need of going for some new crypto or all new cryptocurrencies related things  for having a stablecoin, they may simply make their fiat into blockchain. This way, your view of stablecoin for every country may come into live.

Of course there are possibilities,,, but remember just because a goverment issues its own crypto does not mean it is good for the economy or even good for us. Just look at the whole big scandal of Petro,,, for sure now so many people are angry at virtual currency that anyone can just make one and control it, worse if it is a state!

[traderethereum]

Stablecoin for every currency may not be a reality anytime soon but i think it will happen in 5 to 10 years because not only international payments become easy but local payments, salaries, taxes and even shopping becomes easy and cashless and also each transaction can be checked and tracked anytime.

I think we can use usdt to pay something, but so far, usdt is not used for the payment even for bitcoin. It still only a few merchants or local stores which is using crypto as the payment. Maybe in the next 5 or 10 years later, we will see this will happen, and who knows, bitcoin will be used for the payments. It could happen for every country to have their own coins, but I don't think that will be a stable coin.

[TheGreatPython]

Definitely there are a lot of possibilities for government to go for their own stablecoin in the near future. Because, I guess every government wants to be part of cryptocurrency industry and with such stablecoins it will be easier for them to enter into our crypto space.

We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain. All I can guess is, there will be no need of going for some new crypto or all new cryptocurrencies related things  for having a stablecoin, they may simply make their fiat into blockchain. This way, your view of stablecoin for every country may come into live.

Yes. When governments are rushing for adopting cryptocurrency and blockchain technologies, what you have mentioned must be the most appropriate way for them to easily enter into this market. Government may legalize crypto currencies or may not but definitely they will be preferring to how their own stablecoin which could be their already existing fiats.

I just wonder what are the advantages we will be enjoying by having our local fiat on blockchain. I mean to say what are the privacy issues may rise up due to this and also what will be the exact consequence of such stablecoins by government is going to provide will be my actual curiosity but only time will answer all these.

[enhu]

Definitely there are a lot of possibilities for government to go for their own stablecoin in the near future. Because, I guess every government wants to be part of cryptocurrency industry and with such stablecoins it will be easier for them to enter into our crypto space.

We can expect governments to issue the crypto format of their local fiat. It means every government may prefer to have their currency on blockchain. All I can guess is, there will be no need of going for some new crypto or all new cryptocurrencies related things  for having a stablecoin, they may simply make their fiat into blockchain. This way, your view of stablecoin for every country may come into live.

Yes. When governments are rushing for adopting cryptocurrency and blockchain technologies, what you have mentioned must be the most appropriate way for them to easily enter into this market. Government may legalize crypto currencies or may not but definitely they will be preferring to how their own stablecoin which could be their already existing fiats.

I just wonder what are the advantages we will be enjoying by having our local fiat on blockchain. I mean to say what are the privacy issues may rise up due to this and also what will be the exact consequence of such stablecoins by government is going to provide will be my actual curiosity but only time will answer all these.

Well the value of stablecoin of each country will still have its ups and down comparing it to the digital currency of other countries just as it is today when we look at forex market. There is however changes though such as the central banks can be traced if they are creating more stablecoins. Transparency is there and we know how much they created since its in the blockchain.

Transparency I guess is one advantage. Paperbills gets lost and I think this is one of the reason why China planned their digital currency too.

[cryptoknightt]

if in fact almost all countries have adopted or implemented cryptography, then perhaps each country will create its own stable coins.
yes, it will also make it easier for people to switch to fiat without having to do it to peg to the US dollar, we know that peg is on almost the entire market, but the availability of stable coins for each country will certainly be better.

[el kaka22]

It is more possible for nations to create their own stable currencies but I still think that we need one or two good examples of that helping nations create some sort of reserves with it in order to show the other nations how it could be beneficial for them.

We still don't know how stable coins could be tracked or not and we are not in a situation where we want non-traceable currencies by governments since they would basically working against themselves if they do that and the amount of money they make from that would be less than money they would be losing from tax evasion or money laundering. As soon as nations figure that thin line out and find a way, I am sure they will do it perfectly.

[LostConfidence243]

There are some way for creating the coin as stable at whole world. If the law conducted by decentralized team's then it would be essay for the government for marketing the supplied coin among the crypto peolpe and who relevent with those system.

[ReliabilityAlert222]

I agree with your words, there will be benefited both team along as acute row. because of when all of the cryptocurrency are covered by it then use case of the stability will be must for exchange anywhere in any country. so from this points it is needed to create coins.

[XCANA]

I think when cryptocurrency get a global adoption and countries  develop interest to get unto the industry, they have to be more careful as things can go wrong in this regard. We have seen hacking from one exchange to another and sometimes exit scams between some notable individuals. For any government to create their own cryptocurrency, they must ensure they're ready to take responsibilities of what happen after the launch. Hope to see global adoption soon, as the pandemic has unravel the fiats as weak type.

[NextDoor125]

Yes, It would be happen for all cytpo market holder. The possibility of stable coin currency creating more expected thinking for online traders when constancy will be breach down. I think we all need our own stablecoin and that should be accepted globally without any issue.

[SolarWindMiningCompany]

If the presence of stable coins then I'm very sure the cryptocurrency will be accepted in every country because it has its own advantages in getting profit, and most of the first spam prevention should be designed if not then That's where the inhibition that will happen, if later Crypto is already received in every country then I believe in every country will also create each coin.

crypto is even at this stage of its acceptance and trust because of the emergence of stable coins which are like safe havens for traders. I also agree with your point that no country will really make another person's private coin a national treasure unless all delegating power belonged to them and that why China has created its own coin. Other countries will emulate their success and follow suite I believe

[rathaha10]

Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.

I believe once cryptocurrency gets more adoption, every country that fully legalizes the activities of cryptocurrency will create their own digital currency. This point is validated by the proposed cryptocurrency to be created by china. I believe other countries will follow suit as governments will always want to dominate any sector as much as possible. However, let's wait for what the future holds