Some governments have plans to launch their own cryptocurrency

[Freemind]

@legendary1979 I think China and Russia (I think those two countries were pioneers) are testing their own blockchains. They do not give much public news or give test results, but when they do it with a certain secrecy it is for something. As I said, it is a matter of time, it all depends on what governments are capable of doing and what people are capable of supporting.

[atjiat]

@legendary1979 I think China and Russia (I think those two countries were pioneers) are testing their own blockchains. They do not give much public news or give test results, but when they do it with a certain secrecy it is for something. As I said, it is a matter of time, it all depends on what governments are capable of doing and what people are capable of supporting.

No one doubted that before creating their own national cryptocurrency, totalitarian countries would create their own blockchain so that not only there would be no risks from other platforms, but it would also be possible to create some conditions for controlling users of national cryptocurrencies.

[LaZim]

We are not interested in our own cryptocurrency. This way I can trade on regular currency pairs on the stock market. Cryptocurrency is interesting for its volatility. If there is a cryptorub, then most will not even notice it.

[robert20]

China will be one of the first country to use crypto publicly as a national currency. They will be leading in this field.
One day all will come to the crypto field for sure. The next revolution 7s going to be the crypto revolution.

[H2O]

I know so far chaina government already opened their roadmap to launch the digital currency Yuan in the cryptocurrencies market for development of bitcoin market. Another government already opened bitcoin bank in India.

[robelneo]

China has already launched their coin and it is working internally im sure there would release it for general public at a bigger level soon too. There are many more countries and regions that are working on their own digital coin and i think we will soon see such an official coin for dubai soon.

It's big news last year and so much depends on the success of the idea of a country launching their own Cryptocurrency it's been done in the past but developers failed to capitalize on it because Cryptocurrency is not yet well accepted by many countries, but this is China and they have a chance to prove that it can work, many countries will adopt that idea if it succeeds.

[ShadowCrypto]

Just learning about the challenges they face when they on board merchants to see if there is a technical solution we could build to help

[Nostoman]

If the governments of some countries think, or create, their own cryptocurrency. In that case I think a much higher transaction fee will be required.

There are many revenue taxes where 17-25% tax has to be paid. The activities of the government of some countries will be like this. So the crypto community will suffer. However, with the increase in the level of transactions in some countries, the revenue may decrease. There is a lot of writing in newspapers and magazines about cryptocurrencies. According to experts there, it is not possible to collect any revenue from cryptocurrency. So not allowed in most countries.

If the government of a country works for the betterment of the nation after creating its own cryptocurrency, it will surely succeed. The country will develop with an increase in the amount of total resources.

[Arendra]

I think this news is a positive thing in crypto, and will be able to make the price in the market increase. This will be very useful for the advancement of crypto. Because of course more and more countries will agree to crypto.

[densus88]

Many countries including Venezuela, China, USA, Russia and others are planning on launching their own cryptocurrency since the growth of Bitcoin has caught the public eye. The difference between the decentralized and centralized cryptocurrency (CDC) lies in ownership or lack of it thereof.
The anonymity, maintained in decentralized currency, is one of the major factors which has attracted mass attention. The dearth of privacy in CDC, meaning that the government and anyone in the system can view the transaction details while controlling and denying it if they want is probable. Governments, possibly insecure of their future in the national economy, due to the mass adaptation of cryptocurrency have decided to join the game.
Even though Russia has an intent of taxing its black markets through its cryptocurrency, not all intentions are malicious. Using CDC is going to be much cheaper than using credit cards or paper money, due to the lack of middlemen. Another benefit of the CDC may be that interest rates may be altered, according to personal needs.

I think It is a good idea if some government have plans to launch their own crypto. It is possible to happen. Bwcaue digital era will come. I hope we will see  many crypto currency and every countries has own crypto.

[Bitstar_coin]

This is nothing new since the government have seen how popular crypto have come to be and how transparent blockchain can be in delivering of services but the only draw back is they are not given the already existing project a try by building on them or lobby for cooperation with them so that there won't be too many coins in the market and also give a solid backing to an already existing project.

[Octoalts]

I think this news is a positive thing in crypto, and will be able to make the price in the market increase. This will be very useful for the advancement of crypto. Because of course more and more countries will agree to crypto.

I agree, these countries are big countries and their influence is tremendous for the world. And I am sure that Cryptocurrency will continue to grow, more and more countries will create their own cryptocurrency, and the competition will certainly be tougher.

[Gyrgen]

The question is much deeper than it seems at first glance. Any economy can function absolutely calmly without cryptocurrencies. It is also indisputable that cryptocurrency will continue to develop.Money has always been the prerogative of the state, which is why the state will seek to take this sector under its control.

[gotbounty]

I am sure that you mean the CBDC. CBDC is true, going to be launched by several countries and some of them have been issuing this. This may be a step forward in crypto development and their chance to make their own digital currency using blockchain technology. However, I do believe that it may not replace the top coins unless they are really big and make certain big changing rules.

[mohdelayo]

It's actually a very positive move that's doing well in strengthening the grounds for blockchain and cryptocurrency projects to thrive very well. Major countries from around the world are already considering a national cryptocurrency, recently i saw that the Indian legislatures are considering raising a proposals for national cryptocurrency, if would be a great idea to see adoption increasing steadily.