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Government Cryptocurrency

  • Thread starter Thread starter Grant
  • Start date Start date
Recently, I heard that the Britain's central bank is also considering to launch its own crypto currency. If that happens, Britain will be one of the major countries to use crypto currency in the governmental level.
 
Justin said:
wow, that's great. sadly, our government is far from creating its own crypto currency, in fact it has even made crypto currency illegal and there is no hint that the ban will lift anytime soon.
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Yes, we have been using this cryptocurrency for approximately 2 years or more, the problem is that companies do not want to accept the petro due to the debts of the government in canceling said companies, it is still in testing and does not circulate in a fluid manner.
 
It would really make sense if governments decide to have their own crypto currencies, this would mean general acceptance of crypto currencies as a legal way of transactions, instead of the strict anticrypto regulations we have these days.
 
Yes I believe it is possible in the near future that the government will introduce a state backed cryptocurrency. They have the liberty to do something like that.
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Yes I believe it is possible in the near future that the government will introduce a state backed cryptocurrency. They have the liberty to do something like that.
 
Grant said:
A while back I heard the US actually had their own cryptocurrency, or was looking to start one of their own. Is that true? if so, would you ever invest into a cryptocurrency owned and started by a government? I honestly don't know. As it could result in pay, but who knows how the government will work it out. They could impose extremely strict rules as well. What do you think though?
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I think its just a rumour because as at today the Us security stuff are yet to adopt crypto currency as a means of transaction.
 
The government starting of their own cryptocurrency or rather the virtual currency of their fiat currency actually means that they are embracing the blockchain Technology which is quite a strong technology that can't be hacked or manipulated.
 
I have not heard of the United States government creating their own cryptocurrency. But I know there are some governments in the world already into creating theirs. If the gevernment comes up with their crypto, I will not in just invest yet till I see how it goes with acceptability and number of people investing in it.
 
The announcement comes as cryptocurrencies gain mass recognition, with Bitcoin's price hitting record highs as investors such as Elon Musk pour money into it, and Morgan Stanley being the first major US bank to sell bitcoin funds to its wealth management clients.
 
Somany government of the world has seen the enormous benefits that can be derived from the crypto currencies, the world is going digital and there is nothing anyone can do about it. We all have to align with the new development in terms of crypto currencies. So they will all adopt it.
 
That will be a nice idea to countries owning their own. But most of the governments coins will be like stable coins their values won't be volatile.
 
I do not think that the US government has any crypto currency yet as they also planning on restricting the one we have with taxes what I heard was that they hold a lot of bitcoins.
 
I wonder why the governments of the world are picking up interests in cryptocurrencies after all their actions to ban and destabilize the currencies has failed. The original objective of crypto currencies is to have a decentralized system free from the control of government. So why are they trying to wheel themselves in now.I am not interested in their currency because it will do anyone no good.
 
Even in my country, the government have started picking up interest in crypto after the ban. They have been talks about creating their own crypto. Tho the government crypto would not go as freely as the other coins
 
I think somehow that if the government will want to come into the cryptocurrencies space, they might want to make sure they face-off all other existing cryptocurrencies to make theirs the only one
 
This will actually be a good news to all cryptocurrency investors because this will actually make cryptocurrency to be legalised into the normal system including the government and which will take the price of most of the potential cryptocurrency to a very high level.
 
I think this post has been published for some time now but the plans by government of America and the Chinese to get a digital currency is something a lot of people are talking about. Let's see how it unfolds.
 
The involment of some state into the cryptocurrency world is actually a good and welcome development,as this is the age of technological advancement,and the mode and ways e-commerce is run should should change.But that being said,the beauty of cryptocurency is in its voliatility and this the govrenment can't guarantee,because of its control.
 
Nicklas22 said:
Government owning a crytocurrency is going to be quite good, there will be less volatility but just that the control will make everything slow, the will decide to have full control over everything which is not going to be good for those trading or investing in such cryptocurrency
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The governmental control of their currency was what most people was avoiding which made them to join this cryptocurrency and in fact it is the major reason why cryptocurrencies were created in the first place.

In a situation whereby the government will now have their own cryptocurrency, then this will be come another avenue for them to be controlling it.
 
There has never been any official news confirming this claims , it is solely from bloggers who wants to make money from fakes news and articles.
 
There is one government that accepted Bitcoin but it has no crypto of its own. If ever a country would have its own crypto then it would probably not to be the US. Even China was rumored to have its own crypto but that remains a rumor unless someone here would post a factual news about it.
 
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