Cryptocurrency is important for a country? or not...

[PhucS]

I'm not sure about this, but I think that at the moment, cryptocurrencies do not have too much influence on the development of countries around the world. There are many other factors to measure the development of a country. There are many opinions hoping that cryptocurrencies will replace fiat currencies, but this will be very unlikely in the near future. Fiat has always been an irreplaceable choice in the financial markets of countries

[lenovop-70]

IMHO, crypto can be dangerous for the economic resilience of a country because crypto transactions are not monitored, even though economic freedom is some of the basic rights for citizens. The question is, are these citizens able to compete in global competence? If not, then the economy of a country will be destroyed because of the economic flow of untraceable cryptocurrencies.

[KingsDen]

Cryptocurrencies are not essential for the development of any country. No cryptocurrency is a country identifier. None is rooted in the economy of any country. Likewise Cryptocurrencies do not cause any damage to any country.
But Governments are built in such a way that whatever they do not control is a threat to them. Hence, the efforts by different Governments to regulate the use of Cryptocurrencies.
These can be;
1. For energy conservation
2. To monitor the system so that users will not hide under anonymity of Cryptocurrencies and unleash harm to the society. Such as money laundry, acquisition of illegal products etc.

[Similificator]

I wouldn't go so fas as to say that cryptocurrency is essential for a country's development. Although, it may help a lot it doesn't necessarily mean that it is a saving grace. Countries have survived and developed without it ever since so for me, it is a plus for a country's leader to capitalize in this new innovation to help the economy grow sonce it will largely affect the unemployment rate at some point, but good governance is still the best saving grace.

[Mauser]

In my opinion crypto currencies are not so important in the development of a country. It can bring some help for problems like inflation or missing confidence of international investors in a currency. But for a developing country to only rely on crypto currencies can be risky. Most of the exports of a country are either being settled in USD or in the local currency. I don't think that it is very bad for country to rely on cryptos as long as it is not the main focus. There needs to be some commodities or some services for a country to export and rely upon. Cryptos are another form of currency that are easier to transfer and don't rely on a government, but they don't provide economic growth by itself. A government can make a profit by investing some surplus money into cryptos but its not a guarantee to make money of it.

[elisabetheva]

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

as long as there are regulations made so that there is no misuse of bitcoin, for something that can harm the country, of course it is clear that bitcoin is very helpful for economic growth. what is certain is that many can be helped with bitcoin and we do not close our eyes that bitcoin is able to provide job opportunities for those who really want to trade in crypto.

as long as it can be managed properly and is able to provide a clear explanation, that bitcoin is actually more profitable for the country than what might also be detrimental to the country, by pollution and excessive use of electricity.
but as long as it is profitable then the state will try to cover the shortfall that may occur due to that effect.

[Reatim]

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

Everything in the world has a Goods and Bad side ,

Asking about Developmental role? of course Yes because crypto serves as fastest and safest transacting in the world of Businesses .

Asking about Extrema damage? no there might be damages if treated wrong but not Extreme , maybe Minors ?

[Ngewex Yuk]

If a country thinks to make its citizens earn a better income of course crypto is an important thing, now more and more countries are legalizing bitcoin and many new business units are emerging from bitcoin acceptance, this proves that bitcoin and cryptocurrencies are important for the country.

[AakZaki]

I wouldn't go so fas as to say that cryptocurrency is essential for a country's development. Although, it may help a lot it doesn't necessarily mean that it is a saving grace. Countries have survived and developed without it ever since so for me, it is a plus for a country's leader to capitalize in this new innovation to help the economy grow sonce it will largely affect the unemployment rate at some point, but good governance is still the best saving grace.

Cryptocurrency as a new innovation that is put to good use is a reality that must be recognized by all countries. although some countries prohibit it and some only provide limited regulation, cryptocurrency is a valuable digital asset and has a payment technology that will be useful in the future, and is supported by blockchain technology that can be adopted for various platforms.
Whether cryptocurrency is important or not depends on each country, can use it or not.

[Mamun74]

For me,I Think cryptocurrency is  important in the development  for a country. Already crypto-currency playing in the role.Bitcoin already a huge development Their system and huge increase price. Bitcoin price will be more increase in future.I believe that Bitcoin would be to developing in the development County is more.

[uneng]

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

I wouldn't say essential, but bitcoin helps a country to develop itself. If you take El Salvador as an example, there is more money going into the country's economy due to remittance operations adopting bitcoin instead of using banks, which charged abusive fees. Without paying abusive fees, citizens have more money to spend with things they enjoy, what will consequently help the local businesses and economy to improve.
And when you have a strong economy it's a signal the country is evolving. It means the country will have more money to invest and offer better opportunities for its citizens and also for foreigner people who might be interested in investing there.

[chanler]

I'm not sure with that whether crypto can be said to have an important role in a country or become a destroyer in a country. what is certain is that crypto emerges and stands alone as a valuable business asset and over time crypto is growing and expanding. If you say crypto plays a role in the development of a country, i can say yes, because a country that can accept crypto means that they have followed developments. but broadly speaking, many countries accept crypto because crypto is indeed valuable and can be used for now and in the future. .

[NicNacCoin]

Yes cryptocurrency is definitely important for a country. Especially in our country cryptocurrency has no legitimacy yet we are using this cryptocurrency in a very nice way and our unemployment I have come to solve the problem. And if there was no cryptocurrency, we would have had a hard time.A little bit of this cryptocurrency has given life a much better future. I think this cryptocurrency is playing a very important role for a country.

[carlfebz2]

Yes cryptocurrency is definitely important for a country. Especially in our country cryptocurrency has no legitimacy yet we are using this cryptocurrency in a very nice way and our unemployment I have come to solve the problem. And if there was no cryptocurrency, we would have had a hard time.A little bit of this cryptocurrency has given life a much better future. I think this cryptocurrency is playing a very important role for a country.

Cant really be denied that it was life saving in terms of finances but only limited into those people who had able to have some good grasps of crypto opportunities which i do believe that it is really just less.

Honestly, it isnt really that important for a country because it does already have fiat when it comes to payment system.Crypto's existence is really just good when in talks about being decentralized.

So it turns out that people do ending up on having some options to take and not just sticking with that typical fiat.

[Ararbermas]

Its a digital currency wherein no physical money probably an alternative way but you know it's hard to tell because there are some problem with crypto such how it can used to any crimes and untraceable reason some government were against in it. so probably it's not essential for a country to have a good development, although it has the fastest growth rate than real fiats. Perhaps it's not a valid reason.  

[Sled]

Its a digital currency wherein no physical money probably an alternative way but you know it's hard to tell because there are some problem with crypto such how it can used to any crimes and untraceable reason some government were against in it. so probably it's not essential for a country to have a good development, although it has the fastest growth rate than real fiats. Perhaps it's not a valid reason.  

Perhaps, many were still looking forward to seeing Bitcoin become legal in such a way that they can use Bitcoin without any worries of getting caught and put in jail for some illegal reasons. Let say it was not necessary, but maybe just for now. As the development continues, I guess they should be open to this technology and adopt the system.

We can't argue how the government pushing to the limit to stop fraud and some illegalities but I think, they should have to take a look on the other side where they can see the advantage of Bitcoin, not just only the negative.

[jrrsparkles]

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

Cryptocurrencies can be helpful for the development of an individual, if every individuals are developing in a country means the country itself is going to be in the development track.

When we are talking about the government, they may see cryptocurrency as a hindrance for them due to the transparency of blockchain technology since governments never wanted people to have the complete freedom.

[LOTT]

Great article

[imran101]

Cryptocurrency is essential for the development of a country. I don't think cryptocurrency can play a big role in the development of a country.
However, it may have a cryptocurrency role in the development of a country but it is not essential. I think every country will feel the need for cryptocurrency when the cryptocurrency reaches a new height in the coming days.

[lepbagong]

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

actually it all depends on the readiness of the country, if you don't prepare regulations beforehand, it can clearly create losses that will occur. but it is clear that crypto plays a very important role for the economic progress of a country if it can be implemented properly, because clearly there are many benefits compared to something that is not useful.

it is unlikely that crypto will actually hinder development in a wider development in a country that is willing to accept crypto. it is clear that it is certain that they will receive convenience to carry out transactions, not to mention economic growth for the people who also want to trade in crypto, thereby increasing income which will continue to grow,

Cryptocurrencies can be helpful for the development of an individual, if every individuals are developing in a country means the country itself is going to be in the development track.

When we are talking about the government, they may see cryptocurrency as a hindrance for them due to the transparency of blockchain technology since governments never wanted people to have the complete freedom.

It is clear, however, that if every individual can receive the benefits from crypto, there will be income, which is exactly what you say you will contribute to the economic development of the country. because the results of trading in crypto will excite the country's economic development.

The barrier you are referring to could be due to the nature of crypto itself which no one will be able to control. but as a government, if you have prepared regulations that can help so that there are no deviations, you can do it as long as it is for a good cause, of course, not to hinder it.