☞If Bitcoin was the currency of a country then what will happen?☜
Cryptocurrency is known as the fastest transaction medium for people around the world. Bitcoin is most commonly known and used token in cryptocurrency. Suppose a country began to use Bitcoin instead of their currency. Then, what will happen?
The price of Bitcoin is unstable. Its price may increase or decrease. If a country accepts Bitcoin as their currency, then there will be an economic revolution in that country.
Bitcoin will be operated without the control of the central bank or government of that country. It is capable of preventing inflation. Because it is not possible to print any additional bitcoin. For this, the people of that country can do their transaction easily, transparently & faster and will have the potential to reduce corruption rates. However, when all transactions are completely dependent on online, it will be mandatory for all of the country to gain skills in this regard.
Finally, if Bitcoin is the currency of a country, it will start a new economic age of that country. This will improve the economy of that country and some damage. So these positive and negative aspects of that country should be noticed equally.
Not sure where you heard that crypto currency is the fastest transaction medium for people all around the world. There might be some coins that has instant transaction with drawbacks being that they are centralized most likely, but rest of the coins don't instantly transfer to another persons wallet. You need network confirmation for the coins to be actually in your wallet and be yours. If you think of Bitcoin it might take around 10 minutes in a good day. When the network is congested it might take more. Now think of using cards. You tap your card, you made the payment instantly. You send fiat money to another guy, he receives it instantly in most cases. But if you are talking about making cross border payments, then yes, Crypto currencies are better in this case.