Some governments have plans to launch their own cryptocurrency

[emmybd]

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.

[bigcash2011]

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.

[MrSpasybo]

I think the CBDC is just a government tool that aims to:
+ Take advantage of the advantages of crypto: high speed, cheap transaction costs, transparency;
+ Increase the ability to control the national financial situation when all transaction information is transparent;
+ Coping with the growing crypto wave in the market.

I don't count CBDC as a cryptocurrency because it is centrally managed. It is just a form of digital money in a bank account that is transferred to private blockchain by the government and banks only.

[Renampun]

...

most likely if the government issued the cryptocurrency of a country it will be successful...
but I am still curious, if it is true that they will issue their own country coins then which blockchain token will they use because currently there are many platforms that offer the best and fastest blockchain.

[UNIVERSE]

Don't worry, even they create their own cryptocurrency this will not be like Bitcoin as the king of crypto. They may be influencing crypto but I think that they will not give a big influence and a bad result. Just let's see how their stablecoin will exist in this crypto market

[zilzylian]

It seems like other developed countries have many tricks to use blockchain technology to make transactions in their country.
Interest rates are lower and transaction costs are also low because blockchai technology is more transparent and does not require a main server to record information. I think there are countries that do CDC so that they can easily access the accounts of corruptors
 

[StreakW]

I think this is a good sign in the crypto industry, that many countries will allow their people to use it. If governments launch it, so many people will know it. Many demand will come.. Be ready

[dekafee79]

I think this is a good sign in the crypto industry, that many countries will allow their people to use it. If governments launch it, so many people will know it. Many demand will come.. Be ready

Yes , I agree with your opinion. If the government have plans to launch their own crypto currency, It will be a good thing for crypto world.. Many citizen will know about crypto currency and I believe We will see high demand.

[GREENch85]

If you can't win, take the lead! This principle has been in effect for several thousand years. To be honest, such a development of the situation was to be expected as soon as cryptocurrencies began to gain a huge army of followers. Initially, it was the lot of geeks, but today...

[Galaxy]

Governments of some countries may add their own cryptocurrencies here. The government of every country wants to benefit in the commercial field. The government works for the development of the country's economic infrastructure and every sector of the country. That's why they look for some benefits to transact. But now the benefits can be through the creation of their own cryptocurrency.

[Cryptoz]

...

Yeah, it is about CBDC, China is one of those that has been developing this kind of digital currency. they always want theirs to be powerful in the world, not to be passed by others. And this currency emerges because of the progress and development of the cryptocurrency and the use of blockchain technology that is more and more developing and accepted by the world. I agree that this may be used for their own being for obtaining benefits from the name of cryptocurrency.

[Marizqick]

Don't worry, even they create their own cryptocurrency this will not be like Bitcoin as the king of crypto. They may be influencing crypto but I think that they will not give a big influence and a bad result. Just let's see how their stablecoin will exist in this crypto market

true. also some people maybe feel skeptic about goverment controller the currency it self, depend on people react or respond i think!

[pelana vreo]

Don't worry buddy,
Every country has a much better future goal for the future of the payment transaction system, but the government is still a little afraid of using blockchain, because nlockchain transactions can see that the amount of funds flowing to various wallets cannot be deleted on the blockchain ledger.
Uniquely, if they accept Bitcoin as a payment option, then this situation will increase the number of requests for Bitcoin as a state deposit asset, with the aim of gaining profits in the future.

[Astra]

I think this is a good sign in the crypto industry, that many countries will allow their people to use it. If governments launch it, so many people will know it. Many demand will come.. Be ready

Yes , I agree with your opinion. If the government have plans to launch their own crypto currency, It will be a good thing for crypto world.. Many citizen will know about crypto currency and I believe We will see high demand.

For the people, stable coins of the central banks of states will be like another type of non-cash payments with the participation of the state currency. It seems to me that few people will see a connection with cryptocurrency in it. In addition, one of the goals of creating stable coins of states is to compete with decentralized cryptocurrencies in the field of means of payment. However, in general, states issuing their stablecoins will create additional convenience for the people.

[tervel]

China plans to launch DCEP later this year. A payment system created by the Chinese state and known as Digital Currency Electronic Payment (DCEP). However, DCEP will be centralised and state-run, unlike Bitcoin or Ethereum which are free of state control.