Kyrgyzstan Parliament member wants national crypto

[Freemind]

Most likely, the national cryptocurrency, which the member of the Parliament of Kyrgyzstan is talking about, is actually a digitized national currency, which is commonly called CBDC. He did not explain what he means by talking about the national cryptocurrency, but there is no other solution yet. Now most states are developing their digitized national currencies, and where this issue is being dragged out, there are officials who call for starting this process in order to keep up with other countries.

It is also possible that Karim Khanjeza knows very well what he is talking about and is referring to a cryptocurrency, as we know them, and not a CBDC. Although some countries are already working on their own CBDCs, only the Chinese government is testing with a few million citizens, but even so, it will be several years before the digital Yuan is fully operational. El Salvador is an example, the country does not have CBDC and I think the government does not plan to have it, but Bitcoin can be used without any problem.

[yohananaomi]

Crypto development is very fast, whoever is fast, he will benefit first.  It could be that these parliamentarian see this as having good potential in the future, so they propose the creation of a national Crypto currency in the country.

Yep, I think Kyrgyzstan parliament member see the potential of crypto currency.
Or maybe he or she is crypto investors.
Crypto currency is the future technology, So I think country should be accepted this technology

we do know that no one can avoid technological developments and they must be willing to accept it as progress that must be accepted as a renewable development. Likewise with crypto, is the technology of the future and naturally every country will continue to adopt it.


but if indeed every country will make its own crypto money won't this be confused with fiat money that they have been using for a long time? if don't make additional work of course there is no problem.

[Freemind]

we do know that no one can avoid technological developments and they must be willing to accept it as progress that must be accepted as a renewable development. Likewise with crypto, is the technology of the future and naturally every country will continue to adopt it.


but if indeed every country will make its own crypto money won't this be confused with fiat money that they have been using for a long time? if don't make additional work of course there is no problem.

Many countries are working on their own CBDCs, not cryptocurrencies. The differences are great between both concepts. CBDCs will be used with digital wallets, but they will be different from what we use for cryptocurrencies, they will be closed source, there will be no block explorers, the databases will not be public... Karim Khanjeza's statements suggest that they are talking about an official cryptocurrency, but there are no further details, so we cannot know if he is referring to that or if it is just speculation.

[gurunanakji777]

If it's gonna happen then it will prove to be a huge step in the crypto market for any country. We should appreciate it as crypto enthusiasts. Let's see if they successfully launch their own country cryptocurrency rather than their own CBDC. I think other countries should also see the huge opportunities in the blockchain and cryptocurrencies rather than banning them as youngsters are more interested in the cryptos so government should also take care of this rather than imposing huge taxes or ban.

[sunnycb]

No matter what, slowly the benefits of cryptos are being understood and countries are adopting this trend. And if the concept of Web3.0, blockchains, etc are not given priority it would be really disastrous. The future is crypto..