Some governments have plans to launch their own cryptocurrency

[Digital_Lord]

It is not true, a lot of countries are banning cryptocurrency market. How can they launch their own crypto currency. As you can see China, recently China created  fud on Twitter. These government will not launch cryptocurrency in the country.

[rizqillah]

It is not true, a lot of countries are banning cryptocurrency market. How can they launch their own crypto currency. As you can see China, recently China created  fud on Twitter. These government will not launch cryptocurrency in the country.

China has digital yuan, EURO has CBDC and several of them.
So, I think the government will have own crypto currency but It's just centralized platform that can be controlled by the government.
Not decentralized.

[Markcracker]

Yes I think most of this government that claims to defend flat are the real owners of this shitcoins there are lots of valueless tokens which I see has no potential the government find it difficult to stop citizens from getting involved in crypto so I think most of them get involved in crypto but don't know how to promote there tokens, the likeness of China I think they have been doing really great tho

[coinsrider]

It is not true, a lot of countries are banning cryptocurrency market. How can they launch their own crypto currency. As you can see China, recently China created  fud on Twitter. These government will not launch cryptocurrency in the country.

China has digital yuan, EURO has CBDC and several of them.
So, I think the government will have own crypto currency but It's just centralized platform that can be controlled by the government.
Not decentralized.

China have other larger plans I feel especially with it currency.

[Alichlas92]

if every country had its own digital currency, would BTC be abandoned?

maybe a little more like all banknotes under USD.

[Phonometer]

It appears that other developed nations use a variety of strategies to conduct transactions in their nation using blockchain technology. But these digital currencies can not be regarded as cryptocurrency as they are decentralised unlike cryptos like Bitcoin.

[Freemind]

if every country had its own digital currency, would BTC be abandoned?

maybe a little more like all banknotes under USD.

Of course not. Each country already has its own currency (except the European Union, for example), but they are not digital currencies as we already know. The only thing that will change when countries launch their CBDCs will be the way we interact with our money. Some time after launch, cash will cease to exist and we will only use digital wallets. That is also a new way of being able to control our money that governments will have, according to them it will be for our security and to fight against money laundering, but I don't think so, it is another way of controlling the population. Fortunately the launch of CBDCs will not affect cryptocurrencies, and if it does, it will be a minimal impact.

[Vx1]

if every country had its own digital currency, would BTC be abandoned?

Bitcoin is a reference from the government issuing their digital currency, of course Bitcoin will not be abandoned. Bitcoin will remain the main Crypto of all new digital currencies launched by the government, Bitcoin will still be in the interest of many people. While Cryptocurrencies from the government may only be liked by their own people, but more and more governments are launching their own Cryptocurrencies which is a good thing.

[ItsCrafty]

its a very good news but in this time many countries want to create there own cryptocurrency .
but which made old cryptocurrency and they are work very hard.
so new cryptocurrency need alot of time they come to this level .
so according to my experience in this time if anyone wants to invest so they invest in old coins is good choice.

[Freemind]

its a very good news but in this time many countries want to create there own cryptocurrency .
but which made old cryptocurrency and they are work very hard.
so new cryptocurrency need alot of time they come to this level .
so according to my experience in this time if anyone wants to invest so they invest in old coins is good choice.

CBDCs are not cryptocurrencies like Bitcoin or Ethereum, they do not use blockchain to secure user transactions. The CBDCs will be the currencies of each country always having the same value, the transactions will not be public nor can they be consulted as we do now with any blockchain. If you want more information about CBDCs you can read this article, it will help you understand much better how they work: https://www.investopedia.com/terms/c/central-bank-digital-currency-cbdc.asp

[cheezcarls]

In other words it’s what we call as CBDCs. Despite that it is a welcoming development for these governments to launching their own CBDCs, it’s just that they are centralized. Just like the good ol’ banks, we the people are not in full control of the CBDC’s, but the government is. Just my own opinion guys.

[Speaker]

CBDC is essentially a new form of traditional money. This is the only way governments want to know everything about us. In fact, using them-we will also have to pay taxes for it

[Freemind]

In other words it’s what we call as CBDCs. Despite that it is a welcoming development for these governments to launching their own CBDCs, it’s just that they are centralized. Just like the good ol’ banks, we the people are not in full control of the CBDC’s, but the government is. Just my own opinion guys.

Of course, although it may not seem like it, it is the same. With CBDCs everything will remain the same, but now governments will have much closer control over citizens. When CBDCs are up and running, governments, with the excuse of fighting money laundering and capital flight to tax havens, will only have to consult the service's centralized servers to find out what we do with our money. If at any time the government thinks we are doing something illegal (this is the trick), they can block our funds at any time, even faster than now, and with no judges involved.

[Speaker]

And so it will be! CBDC is just a new form of total control over our funds.

[Astra]

It is not true, a lot of countries are banning cryptocurrency market. How can they launch their own crypto currency. As you can see China, recently China created  fud on Twitter. These government will not launch cryptocurrency in the country.

By own cryptocurrency, here we mean the creation by states of their CBDCs, that is, the national digitized currencies of these states, and the OP directly said this in his thread. True, the question is whether CBDC should be classified as a cryptocurrency. Most likely not, since they will not have all the necessary features of a cryptocurrency. The Chinese digitized yuan, for example, does not even use blockchain technology. But many CBDCs use the Ethereum platform. When CBDCs start to appear en masse, then we'll see where they should be attributed.