The cryptocurrency space is about to get a whole lot more crowded governments around the world are experimenting with their own versions of digital currency. Estonia became one of the first with their own token called s coin and Japanese banks were said to be exploring one called J coin China’s central bank recently performed a trial run of digital currency while Sweden’s central bank produced a study called the krona project and the list goes on. The UK Uruguay and Kazakhstan have all launched similar projects some call these central banks issued cryptocurrency some call them digital fiat.
Regardless of the name non-tangible digital money seems to be entering the mainstream I don’t think that idea of cryptocurrency is going to be implemented by a government, I think governments are looking more to do what I would call digital theá– which is to take their existing currencies US dollars and so on and just move them to electronic forms, so how would these government backed the digital currencies affect the value of other cryptos.
This is a very open question III wonder about this to you I think did climate thought is probably the one that would be most affected because Bitcoin was originally intended to be used as a currency, I think Bitcoin in that scenario could become something similar to digital count I see them as complementary.
There are going to be things that are going to use that cryptocurrencies are better for especially for cross-border transactions for sending money from one country to another.
This is something a lot of us have experienced. I’m Canadians if I want to send some money to my family back north it is surprisingly painful to do that with the currencies we have nowadays and I look forward to our cryptocurrencies helping a lot of people in that kind of situation the thing to remember is that central banks don’t get to decide whether or not bitcoins their inner core…