Quote from: Paycoinzzz on January 26, 2020, 01:43:31 PM

Quote from: TimeTeller on January 24, 2020, 11:34:38 PM

In my opinion, the move to create their own digital currency is a positive development.
It means, that the government believes the benefits gained from this technology.
With their action, they are indirectly showing to its constituents that they trust crypto.
Which will then give a positive mindset towards crypto and so it will create more demand of usage.
I consider it as an opportunity to widen the usage of crypto and not a threat.
People later on will see the difference between a decentralized vs centralized coin.
So it will be their choice which one they will use when that time comes.

I don't think this is a positive action. Everyone will have greed and when this technology is integrated into the monetary system of the state and the central bank, bad things will happen. one of those working in the state will be greedy and start corrupt. he will take advantage of the blockchain system to make this easier and so will money laundering. then the country will face corruption and the economy will surely collapse. Better yet, crypto should only exist in a decentralized market.

As long as they don't go around and prevent their own citizens from using their preferred cryptocurrency then I think it's all good. Look at how the Venezuelan government outlawed the the mining and use of cryptocurrencies so that they could promote their very own cryptocurrency which is the Petro only to see it failed miserably.