Some governments have plans to launch their own cryptocurrency

[Lanirex]

I really agree with your opinion, a big country like China has a very big influence in the world. China also has a very large population, if a large country like China creates its own Cryptocurrency, it will definitely make Cryptocurrency more advanced, and of course this Crypto will get strong support from the community and the world.  And this is really great news for the development of Cryptocurrency in general.

[Senin]

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!

On the other hand, people's trust in their own state is much higher than in a cryptocurrency created by someone unknown. Therefore, stable coins of the central banks of states, that is, their digitized national currency, will be in demand. Many people will appreciate the functionality of digital money even better than the lack of decentralization. Therefore, the digitized currencies of the central banks of the states in the near future will be issued by almost all states.

[dekafee79]

I really agree with your opinion, a big country like China has a very big influence in the world. China also has a very large population, if a large country like China creates its own Cryptocurrency, it will definitely make Cryptocurrency more advanced, and of course this Crypto will get strong support from the community and the world.  And this is really great news for the development of Cryptocurrency in general.

As we know, Chinese government has banned  bitcoin mining.
If the Chinese government will create own crypto currency, I get the point, It will have good effect for crypto word.
Hopefully It will happen soon.

[Freemind]

As we know, Chinese government has banned  bitcoin mining.
If the Chinese government will create own crypto currency, I get the point, It will have good effect for crypto word.
Hopefully It will happen soon.

The Chinese government is not going to create its own cryptocurrency, it has created the digital Yuan, it is different. If I remember correctly since I read the latest news, there is already a small part of the Chinese population testing the project, but they still have to do a lot of testing. The E-Yuan is a CBDC or Digital Currency of the Central Bank, it has nothing to do with cryptocurrencies or private, semi-private or public blockchains, it depends on the Central Bank of China.

[tervel]

China’s version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China’s government vast new tools to monitor both its economy and its people. The digital yuan will negate one of bitcoin’s major draws: anonymity for the user.

[Anonylz]

I really agree with your opinion, a big country like China has a very big influence in the world. China also has a very large population, if a large country like China creates its own Cryptocurrency, it will definitely make Cryptocurrency more advanced, and of course this Crypto will get strong support from the community and the world.  And this is really great news for the development of Cryptocurrency in general.

As we know, Chinese government has banned  bitcoin mining.
If the Chinese government will create own crypto currency, I get the point, It will have good effect for crypto word.
Hopefully It will happen soon.

I totally doubt if anything the Chinese Government or any other Government across the world is creating in terms of digital currency is anything close to a cryptocurrency. The reason why most of these governments are baning and against crypto of cause if because they don't have full control of it so when they do create whatever it is they call their own digital currency, it wouldn't be a cryptocurrency and cannot be traded the same way crypto is traded and on the same exchanges, so I don't see a positive effect from that.

[Jaephoenix]

Its easier said than done. Many countries have aspirations to launch their CBDCs but the logistics involved in the launch is crazy. And the citizens have to achieve a certain level of education to adopt it

[marcsymons]

Numerous people argue that it is a good idea because they are not technically cryptocurrencies as they were created to be centralized and operated by the government financial institutions. However, these currencies will still use blockchain technology and provide a faster and cheaper means of transferring money under the eye of the government as something like a digital version of their local currencies.

[Freemind]

Numerous people argue that it is a good idea because they are not technically cryptocurrencies as they were created to be centralized and operated by the government financial institutions. However, these currencies will still use blockchain technology and provide a faster and cheaper means of transferring money under the eye of the government as something like a digital version of their local currencies.

CBDCs are created precisely for that, to control. The governments say that it is a digitization of the economy and that it will be an improvement for our country, but in reality everything is to continue doing what they have always done, to control the citizen. If one day cash ceases to exist, we will become modern slaves. Being able to control citizens' money with a single click is another way to silence the population.

[Hipshot]

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.

There are so many countries in the world and we have not seen the first cryptocurrency that is issued by Central Bank yet. If would be profitable as they could get a large share of the stablecoin market, probably. So they don't really want or can't decide what they want.

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.

If anyone in the system is able to view the transaction details, then surveillance goes both ways, right now any government can confiscate bank account and cash of its subjects and usually not many persons know about when it happens.

If this state issued cryptocurrency allows to freeze accounts, and if they do it, then this will be public information.(unless the cryptocurrency is total fake with the purpose that a blockchain merely records transactions made through a central authority)

[Alcor]

Numerous people argue that it is a good idea because they are not technically cryptocurrencies as they were created to be centralized and operated by the government financial institutions. However, these currencies will still use blockchain technology and provide a faster and cheaper means of transferring money under the eye of the government as something like a digital version of their local currencies.

CBDCs are created precisely for that, to control. The governments say that it is a digitization of the economy and that it will be an improvement for our country, but in reality everything is to continue doing what they have always done, to control the citizen. If one day cash ceases to exist, we will become modern slaves. Being able to control citizens' money with a single click is another way to silence the population.

Yes, the emergence of stable currencies of the central banks of states, on the one hand, will make it possible to reduce the cost and make more efficient the process of circulation of non-cash money in the state, and on the other hand, it will really strengthen control over the financial expenditures of citizens. This process is all the same irreversible, since it is impossible to stop technological progress. However, we must correctly navigate these processes and choose the right funds for our transactions and, of course, not abandon the use of cash, which is fairly anonymous.

[Kitaiev]

Coin from central banks like only governments, ordinary people will try to avoid interaction with it as much as possible.
Now we can see the experiments of China and in my opinion it is much worse than paper money.
Imagine you might wake up in the morning and find that you can't spend your money because they have lost their shelf life.

[Hipshot]

Coin from central banks like only governments, ordinary people will try to avoid interaction with it as much as possible.
Now we can see the experiments of China and in my opinion it is much worse than paper money.
Imagine you might wake up in the morning and find that you can't spend your money because they have lost their shelf life.

And this is probably true for most government e-money projects. Quote from www.euronews.com/next/2021/07/14/what-is-the-e-euro-everything-you-need-to-know-about-the-new-digital-euro-project [nofollow]

ECB is already warning that it would likely cap the deposits that individuals can own there – suggesting a threshold of around EUR3,000 – or tax the holdings above a certain amount.

Like they want to reinvent the normal bank account, only worse. But this is also some kind of prisoners dilemma among countries, sooner or later some government will issue a state-backed stablecoin that is usable and safe like regular crypto.

[kent47400]

I hope that the cryptocurrency created by this bank is able to adapt to the cryptocurrency environment that is always in different directions and always becomes an enemy for banks that always want to dominate the market.
Whatever is made into news, hopefully it's good news for the cryptocurrency market because I also hope that every day cryptocurrencies don't get bad news.

[Bliznec]

The launch of their own cryptocurrency, individual states, will lead to the economic well-being of the citizens of the country, which has its own cryptocurrency. It is possible to raise liquidity using instruments is achievable.