Some governments have plans to launch their own cryptocurrency

[gunhell16]

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.

I don't understand, if China created their own coins then why I heard a lot rumors or read in some of the articles where China are planning to ban the cryptocurrency to this country and yet they have their own coins. Why? its because they want their own coin be patronize by the all citizens of China, is that what they want for real?

[mahadev]

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.

I don't understand, if China created their own coins then why I heard a lot rumors or read in some of the articles where China are planning to ban the cryptocurrency to this country and yet they have their own coins. Why? its because they want their own coin be patronize by the all citizens of China, is that what they want for real?

CBDC, not crypto currency like bitcoin and altcoin.
It's centralized, because they government will control their crypto.
So impossible to create decentralized platform.

[trauchot]

Cryptocurrencies have become too popular around the world and especially cryptocurrency technologies, so more and more different countries will launch their own cryptocurrencies, because many countries will be able to receive huge income from their launched cryptocurrencies, and all countries understand that cryptocurrencies are the future.

[innerpumper]

if that happens I'm sure they made it not for the sake of business coins like decentralized coins. They will make it a stable coin like USDT or USDC their own country currency version. If this happens I'm confused what the benefits are, is this shown to make it easier for financial channels when their country really experiences a financial crisis? or are there other factors? I'm sure they won't make it a speculative coin.

[pacar_tiri]

if that happens I'm sure they made it not for the sake of business coins like decentralized coins. They will make it a stable coin like USDT or USDC their own country currency version. If this happens I'm confused what the benefits are, is this shown to make it easier for financial channels when their country really experiences a financial crisis? or are there other factors? I'm sure they won't make it a speculative coin.

Sure, the goverment will create stable coins. I agree with this.
China with digital yuan, EU and US have CBDC.
It will have effect for crypto currency market, But I hope It will have good effect.
I think the goverment will create centralized platform, because they will control their crypto currency.
Every country will have own crypto.

[Freemind]

if that happens I'm sure they made it not for the sake of business coins like decentralized coins. They will make it a stable coin like USDT or USDC their own country currency version. If this happens I'm confused what the benefits are, is this shown to make it easier for financial channels when their country really experiences a financial crisis? or are there other factors? I'm sure they won't make it a speculative coin.

They will be CBDC currencies, digital currencies (not cryptocurrencies) issued by the central bank of each country. When cash ceases to exist (it's still many years away, but eventually it will) all payments will be made digitally. What will the benefits be?. The benefits will be only for banks and governments, who will be able to track our money at any time and will be able to know where and what we spend it on, since there will be no cash. Governments say that it is a way to combat money laundering, but in reality it is a way to control citizens.

[royalfestus]

if that happens I'm sure they made it not for the sake of business coins like decentralized coins. They will make it a stable coin like USDT or USDC their own country currency version. If this happens I'm confused what the benefits are, is this shown to make it easier for financial channels when their country really experiences a financial crisis? or are there other factors? I'm sure they won't make it a speculative coin.

Sure, the goverment will create stable coins. I agree with this.
China with digital yuan, EU and US have CBDC.
It will have effect for crypto currency market, But I hope It will have good effect.
I think the goverment will create centralized platform, because they will control their crypto currency.
Every country will have own crypto.

Stable coin is very  reasonable for interested government  but they can also keep bitcoin as volatile coin for storage in the treasure or excess reserve fun. not necessarily in huge quantity.

[doc]

This issue has been around for a long time, some government have plans to launch own crypto currency.
But I think they will create centralized platform, several said about stable coins.
CBDC, digital yuan that I heard, the government digital currency.
I think those are good, but don't worry those will never compete to crypto currency.

[Noverteno]

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.

I don't understand, if China created their own coins then why I heard a lot rumors or read in some of the articles where China are planning to ban the cryptocurrency to this country and yet they have their own coins. Why? its because they want their own coin be patronize by the all citizens of China, is that what they want for real?

China has created its own digitized yuan. It can hardly be called a crypto currency. In its work, the digitized yuan does not even use blockchain technology. Although it has been fully operational since February, very little is known about it.
Since this is actually an improved analogue of the state's non-cash money, the Chinese authorities continue to consider cryptocurrency as a possible competitor to their digitized yuan. Therefore, everything is logical. China continues to be negative about decentralized cryptocurrencies.

[coinsrider]

Even the Indian Government is one among them.

[gurunanakji777]

I believe many countries are working on it to develop their own digital currency but none of the countries officially launched their own digital currency so far. When we will have the option of using the digital currency of our own country then we will rely on it as compared to other stable currencies in the market.

[Freemind]

There are many countries that are working on their own CBDCs, but the vast majority of them are still in the proof of concept phase, Turkey, Sweden, Thailand, Ukraine, and Jamaica are some of those countries. Above these countries (in terms of development) is the United States, which, although it already has several tests on the table, is still debating which is the best software to use. And number 1 goes to China, which has been testing its digital Yuan for months with a few million citizens.

[silkytakyaan86]

Yes, you are right. I've heard that too. This is great for us crypto employees. Because giving importance of Govermnet to crypto. Crypto is on the rise. And makes the crypto market safer. Government's luncheon of currencies. Will increase the interest of crypto all the more. Which will lead to further development of crypto. it's a good news.

[Duckenth]

I've heard that too. This is great for us crypto employees. Because giving importance of Govermnet to crypto. Crypto is on the rise. And makes the crypto market safer. Government's luncheon of currencies. Will increase the interest of crypto all the more. Which will lead to further development of crypto. it's a good news.

That's right, if a government in a country creates its own Crypto currency then it will attract a lot of enthusiasts in that country.  Especially at this time, the development of Crypto is increasing rapidly.  Every country that has its own Crypto currency, will definitely get a lot of support from its Community.

[Afony]

I don't know if there will be many enthusiasts who will support the country's cryptocurrency, the Chinese cryptocurrency is probably supported by a lot of investors.