[2014-10-12] World’s First National Digital Currency Trials in Ecuador

[EternalWingsofGod]

Stole it since I saw the grue note

Ecuador will soon begin trials with the world’s first national digital currency.  They are the first nation to agree officially to implement it’s own digital currency as a state-supported national system of finance. The Central Bank of Ecuador has set up a trial version to begin later this month, and continue through mid-November 15th.

https://www.cryptocoinsnews.com/worlds-first-national-digital-currency-trials-ecuador/

[1715008685]

1715008685

[H.W.Z]

Great news! I will be a excellent example for other countries.

[fryarminer]

To be honest I do not see how this will work out for them. First of all starting from scratch with an altcoin, and secondly because most of the population are not savvy enough to use it on a daily basis. What was it - 40% don't even have a bank account?

[Kprawn]

I realy do not know, why they want to create a Alt coin for this.

They should use Bitcoin, because it's already established and widely accepted world wide. I doubt if companies like Overstock are going to adopt 20 different digital currencies as a payment option.

They will also have to exchange their Alt coin to Bitcoin, if they want to buy from these merchants.

[Lethn]

Great news! I will be a excellent example for other countries.

This is an attack on other cryptocurrencies like Bitcoin, don't applaud it, I believe Ecuador did properly ban these currencies, this is clearly why, you can expect other countries working to ban them to create currencies of their own.

[CIYAM]

This is an attack on other cryptocurrencies like Bitcoin, don't applaud it, I believe Ecuador did properly ban these currencies, this is clearly why, you can expect other countries working to ban them to create currencies of their own.

Funnily enough I had predicted that such a move would be likely to occur in one of my early posts (look for a topic about "Bank Coin").