Digital stable coins are useless without Crypto currencies.

[Alexandoy]

Countries of the world like China, India with few other countries are working hard to launch a digital version of their national Currency. To me these coins will be useless without crytpo currencies been in place because people won't use them as they had no value to their Investment. Share your thoughts.

The digital currency is a version of the physical currency and its value is the value of the legal tender currency like the Digital Yuan and the cash Yuan. The digital coin has no relation to the crypto coin in any way and it would not matter if crypto coin is there or will vanish.

 

[BrolySSJ]

Countries of the world like China, India with few other countries are working hard to launch a digital version of their national Currency. To me these coins will be useless without crytpo currencies been in place because people won't use them as they had no value to their Investment. Share your thoughts.

I don't think that they will be useless because it will actually provide a very good platform for countries to be able to transact between each other similar to how a digital version of a Fiat currency will operate. Therefore it can create relationships between various countries and allow for people to easily transact with international businesses.

 

[FreshKaz11]

Countries of the world like China, India with few other countries are working hard to launch a digital version of their national Currency. To me these coins will be useless without crytpo currencies been in place because people won't use them as they had no value to their Investment. Share your thoughts.

I think countries of the world like China, India with few other countries working hard to launch a digital version of their national currency will just end up to be like a waste of time and resources at the end if not cryptocurrency.

 

[Setho]

If institutional Bodies like countries as big as China are wanting to launch their own data currencies then I believe that they have an aim.

 

[Josemendez]

That's true, trading USDT stablecoins with most African fiat currencies can be very profitable if one can have huge volume of stablecoins because of the low value Currency in Africa.

I believe that Africans should endeavor to capitalize on this opportunity that is being offered to them in cryptocurrency world and grow their wealth from it .
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That's true, trading USDT stablecoins with most African fiat currencies can be very profitable if one can have huge volume of stablecoins because of the low value Currency in Africa.

Africans should work towards capitalizing on what cryptocurrency is bringing to them to grow their funds especially judging from the fact that their Fiat currency is not really strong.

 

[Thinker009]

Exactly because most of the coins they are creating don't flunctuate like crypto currency and that could be a big disadvantage , because many would not want to invest in such

 

[ahmedo24]

Exactly because most of the coins they are creating don't flunctuate like crypto currency and that could be a big disadvantage , because many would not want to invest in such

For sure most people won't invest in most of the stable coins but they rather be using them to make international transactions that is if it's possible to do that at a very low fee.

 

[Heatman]

Seriously when it comes to cryptocurrency I try as much as possible as I can to invest my money in the cryptocurrencies that I know that can be trusted not to fail.

 

[Chibson]

The plan to launch digital currencies is just to disrupt the growth of cryptocurrency, but I will tell you that it will never succeed. the main reason people adopt cryptocurrency is because it is decentralized.
This is a simple feature that the planned digital currencies does not have.

 

[Nomad]

The digital currency is a version of the physical currency and its value is the value of the legal tender currency like the Digital Yuan and the cash Yuan. The digital coin has no relation to the crypto coin in any way and it would not matter if crypto coin is there or will vanish.

All crypto currencies are digital currencies because they can be used only on the internet, however, not all digital currencies are crypto currencies. I think by digital currency you are trying to talk about Central Bank Digital Currency (Digital Yuan, for instance), but a lot of countries CBDC are yet to launch their own digital currency.

 

[tyrim88]

Countries of the world like China, India with few other countries are working hard to launch a digital version of their national Currency. To me these coins will be useless without crytpo currencies been in place because people won't use them as they had no value to their Investment. Share your thoughts.

Most of these nations have come to see the effect of what a decentralise nature of doing business and conferming transactions can actually do to the economy of any nation.They really want to still have that full control and regulation.
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It is true, most of this coin may not have value because usdt is the only stablecoin that are used all the time, the only function is of the stablecoin is that it will make people to carry out online transaction easier and payments in digital currency.

This is just the plain truth about stable coin,most of the time the reason why some persons make use of stable coin is to be able to prevent their coin from being depriciated,and they would want to play save.

 

[greenie]

It is true, most of this coin may not have value because usdt is the only stablecoin that are used all the time, the only function is of the stablecoin is that it will make people to carry out online transaction easier and payments in digital currency.

 

[Sincerem]

It is no news that some countries of the world are against having a decentralized currency acceptable for transactions. This is among the reasons why they are trying to develop a digital Currency that isn't Decentralized but backed up by a fiat currency.

 

[tyrim88]

One of the reason the government of such countries are going into their own digital curency is basically for online transaction and e-commerce payment,and that is why it is stable because it is peg with their own local currency,they do this to minimise loss.

 

[Heatman]

What these government are trying to do is to have a coin that's equivalent to their fiat currencies in the cryptocurrency market in order to give them something to rival BTC and other coins with. They feel that if they leave BTC and other coins unchecked, it's going to kill off the value of their fiat currencies and it's not going to be good for their economy.

 

[Lens]

I do not see any relationship between the digital fiat currency and the cryptocurrency . They are definitely two different thing entirely and did not mean the same thing.

 

[Chibson]

I do not see any relationship between the digital fiat currency and the cryptocurrency . They are definitely two different thing entirely and did not mean the same thing.

Probably, this is one thing that so many people have not yet understood. I don't think there is any correlation between digital Fiat currencies and cryptocurrencies. some people even think that digital Fiat currencies is a threat to cryptocurrency and that is not true.

 

[eenya00]

something similar is actually playing out in my country, they placed a ban on crypto currency and the government went ahead to launch a digital currency which is currently performing very poorly.

 

[Gandiba]

The fact is that they're all very interdependent and none of them can do without the other.

This is even the main reason why we ought to make sure that we don't see any as being useless.

 

[Sotherefore]

Looking at the function of stable cryptocurrency, it would be virtually impossible for stablecoin to be used other than for maintaining of values of one's currency. It can't be used other than this purpose alone.