National cryptocurrencies are not wanted? Disassemble the case

Date:

2019-02-15 01:00:15

Views:

2989

Rating:

1Like 0Dislike

Share:

National cryptocurrencies are not wanted? Disassemble the case Source:

From the very appearance and altcoins were rumors about the release of a national cryptocurrency. That is the public block chain, intended for use in one particular country. They will be based digital money has the potential to replace Fiat currency.

Theoretically this can occur in two ways:

the
    the
  • independent developers create currency, which has become so popular that the government takes it;
  • the
  • a specific government develops and produces its own currency.

The Second scenario has happened in real life, though as yet without significant results. And although these currencies can be tokens with Fiat support in the ratio of 1:1 is not a mandatory requirement. At the moment in the world there are many tablconv, which for some reason is not stanytsia natsionalnyi cryptocurrencies.

Fair to say that the existence of Bitcoin, not a single national cryptocurrencies, which have received widespread acceptance. There is no national blockchains, which would bring a significant result, and it is unlikely it will ever happen. This article will look at five existing or planned national speculative cryptocurrency and understand at what stage is the development of this segment. Will also try to uncover the reason why national cryptocurrencies become popular.

the

Iceland Auroracoin

Source: Curiousmatic

appeared immediately after the first big phase distribution of Bitcoin in early 2014. National the crypt was presented as a terrible answer largest cryptocurrency. The Icelandic government has long been hostile against the cryptocurrency, but the citizens have one of the lowest levels of confidence in the banking institutions. Perhaps this suggests why they have a relatively high level of interest in the technology of blockchain and cryptocurrency.

Initially, a developer under the pseudonym Baldur Óðinsson (the so-called brother of the Norwegian God Thor) has created a clone and distributed half of the coins between all registered citizens of Iceland. Since the coin was a novelty, only 10% of Icelanders decided to get their legal Aurora what is the price rapidly collapsed. It was not by the Icelandic government, and the Ministers even officially suspected fraud project.

the

Venezuela: Petro

The Socialist government headed by President Nicolas Maduro launched his own national cryptocurrency Petro sellers and tries to use it, despite the full-on international exchanges. This is not surprising as the currency was created primarily to circumvent the sanctions the U.S. and other countries. Initially it was presented as talbain, backed by the oil reserves of the country. Later began to emerge the assumption that a listing on the stock exchanges this coin will be used solely for speculative purposes.

In August 2018 Maduro went on a strange step, devalue the national Bolivar 95 percent and tying it to Petro. So, the attempt to break the stereotype that socialists don't know anything about the economy, failed. Perhaps Petro is the world's first national cryptocurrency, but it obviously will not serve as an example for others.

the

United Arab Emirates: emCash

In the framework of a wider strategy of transforming Dubai into a smart city with deep integration of blockchain company emCredit cryptocurrency. Citizens will be able to use it through a mobile app, emPay. For the first time, information about the coin appeared in October 2017, but since then no progress has occurred, and the date of the official launch of cryptocurrency and has not been announced. There were rumors that emCash will be presented in the format stablon linked to local dirham. At the same time, the manufacturer of the outlets is working on a system that would allow you to make purchases for cryptocurrencies in physical stores. It seems that the launch system is planned somewhere during 2019.

the

China

Photo: Xinhua

In the Summer of 2018 cryptocurrency media the theme of the launch of the national cryptocurrency of the State Bank of China. It was reported even that in the very short term, she will surpass the price of Bitcoin. There is some evidence that the PBOC may begin to move in this direction: the fact of the matter is that the Central Bank model the potential kriptuara. For China, it is common practice to first try out the innovation at the city level, then at the provincial level, and then to introduce the technology at the national level. But there is evidence to the contrary, because since then not received any news. And if you remember about the existence and wide acceptance of various payment systems such as Alipay and WeChat, used by the most residents of Chinese cities, it is unlikely that we can expect the national currency.

the

Russia

Russia's Finance Ministry and Central Bank to discuss the concept of cryptorama even in 2016, but since then there have been many conflicting reports. Some officials called the idea of «bullying», however, the President himself ordered a thorough investigation of the technology.

A Little more information on this issue appeared in this year when the state Duma Committee on financial markets that it is considering the potential implementation stablein, backed by Vietnamruble. However, the meaning of this is difficult to understand, as scriptural vietnamu like his older brother will be exactly the same to lose value against the dollar.

the

will we See a national cryptocurrency in the future?

It is More likely that not. The blockchain technology itself is still in its infancy, and experiments with a national cryptocurrency is not yet credible. And all against the backdrop of the already slow nature of most governments. The reasons they shirk the integration of cryptocurrencies in the economy can be many. But at the moment it is obvious that most just do not want to waste resources on under-researched technology.

The example of Iceland we can see that the people themselves are not ready for this – the Aurora coin did not want to take even for free. And after the collapse in the price of the market it replaced. Thus even the supporters of the blockchain against a national cryptocurrency, because it is contrary to the fundamental principle decentralization. A reasonable question arises why people need cryptocurrency with all its complexities and at the same time without any advantages in terms of privacy and freedom? Discussed .

Recommended

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...

Rally Bitcoin — deception. Well-known economist advises to invest in gold

Rally Bitcoin — deception. Well-known economist advises to invest in gold

Director of Euro Pacific Asset Peter Schiff does not see anything supernatural in growth . Recall that the main cryptocurrency has already risen by 179 percent since the beginning of 2019 and is now trading at the level of $ 8540. According to Schiff...

May 2Miners: run pools Aeternity, the debut 2CryptoCalc and software upgrades

May 2Miners: run pools Aeternity, the debut 2CryptoCalc and software upgrades

the Last month of spring proved to work. The team started working on launching (AE), the addition of which the majority voted representatives of the community. Calculator profitability of mining Alexei Rubin moved to the domain and now will develop e...

Comments (0)

This article has no comment, be the first!

Add comment

Related News

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in...

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...

Hacker 1337. How to hack Etherscan not to cause any harm

Hacker 1337. How to hack Etherscan not to cause any harm

Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...

Team Lightning Beam plans to implement Network-enabled Mimblewimble

Team Lightning Beam plans to implement Network-enabled Mimblewimble

anonymous Team coins announced plans to implement a compatible with Mimblewimble network . As stated in the press release, the implementation of the Lightning Network allows you to use the solution to scaling of the second level f...

Happened: JPMorgan created their own cryptocurrency

Happened: JPMorgan created their own cryptocurrency

Cryptocurrency banks are not enemies — on the contrary, one can make a good tool for their own development. Guide JPMorgan came to this conclusion and launched the JPM Coin cryptocurrency designed for the acceleration of payments ...

Cryptocurrency will not be able to compete with the dollar in the short term. Why?

Cryptocurrency will not be able to compete with the dollar in the short term. Why?

As stated by the representative of the Federal reserve Bank of new York cryptocurrencies in the coming years «unlikely» can be the international monetary phenomenon. In a published research article about the superiority ...

Decentralization under threat: 85% Hasrat Monero accounts for ASIC miners

Decentralization under threat: 85% Hasrat Monero accounts for ASIC miners

A cryptocurrency network unsuccessfully with ASIC-mining and create a resistant protocols. Developers of some projects even type in the full lock ASIC equipment. As the perfect example, take Monero — code have been changed many ti...

All is well: the work on Constantinople goes according to plan

All is well: the work on Constantinople goes according to plan

If you have something does not work, try again — this motto is guided by the developers of the Ethereum Foundation. After several hardforum with Constantinople programmers continue to test one of the main updates to the cryptocurr...

Still, he scales: the network of Bitcoin got the biggest block in history

Still, he scales: the network of Bitcoin got the biggest block in history

the Network continues to evolve — February 13, was produced a block of the largest size. According to the latest information from Blockchain.com on the background of record low transaction fees, the average rate reached 1.3 megaby...

Bitcoin could still fall to $ 2,400. It's time to open shorts?

Bitcoin could still fall to $ 2,400. It's time to open shorts?

After the recent sharp Pampa players of the stock market sort of began to believe in endless growth. However, the price action didn't end with the formation of a complete uptrend — Bitcoin is moving again in a horizontal channel w...

No grass: the police messed up a mining farm with the box for growing marijuana

No grass: the police messed up a mining farm with the box for growing marijuana

a RAID by police in the Australian city of Adelaide has turned into a real embarrassment. Local security forces raided the home of Rob Butila on suspicion of cultivation of marijuana. However, instead of the forbidden plants, poli...

Responsibly how to trade cryptocurrency in 2019. Useful tips

Responsibly how to trade cryptocurrency in 2019. Useful tips

Skeptics around the world believe the cryptocurrency is the biggest bubble in history. But what's the difference? Traders can now keep track of schedules, enjoying the UPS and downs, and watching people again and again predict the...

Stop: this year Bitcoin does not need any controversial forks

Stop: this year Bitcoin does not need any controversial forks

the Cryptocurrency community has long been divided into two camps. On the one hand are «maximalists» Bitcoin who do not accept any interventions. On the other — a contingent of more loyal to Aldona and a variety of fork ...

Why investing in Bitcoin are justified. Reply financial Advisor

Why investing in Bitcoin are justified. Reply financial Advisor

One of the famous financial Advisor and founder of Financial Engines, Edelman Rick Edelman spoke with CNBC on the topic . He shared his opinion about why investors allocate to crypto currencies not more than 1 percent of its portf...

Proof-of-reserves: developers Blockstream has proposed to test for the presence of bitcoins in the exchanges

Proof-of-reserves: developers Blockstream has proposed to test for the presence of bitcoins in the exchanges

currently bichenovii exchanges are at the bottom and they are also under strong pressure from users and regulators want proof that the site properly manage the funds of their users. After so many high-profile hacks and the only ow...

Here is a twist: WikiLeaks has accused Craig Wright of lying

Here is a twist: WikiLeaks has accused Craig Wright of lying

WikiLeaks has renewed public criticism of Craig Wright after his recent statements about the Creator of Bitcoin. We will remind, some days ago, the head of the research Department nChain, once again, that he is thereby . as proof ...

Trusted lawyer Mt. Gox is suspected of dump Bitcoin in 2018

Trusted lawyer Mt. Gox is suspected of dump Bitcoin in 2018

From February to June 2018 now broken crypto currency exchange Mt. Gox 312 million dollars through the Japan exchange BitPoint. GoxDox organization that was created to assist the victims, posted a screenshot of the Bank statement....

The Ethereum and Bitcoin fell to 45th place on energy consumption in the world

The Ethereum and Bitcoin fell to 45th place on energy consumption in the world

Computational algorithms for the processing of cryptocurrency transactions do require considerable amounts of electricity. The biggest piece of the pie takes on , but also not far behind. Recently, a Twitter user under the nicknam...

DeVere CEO of a listed event, which will grow Bitcoin

DeVere CEO of a listed event, which will grow Bitcoin

After the quiet period finally drew the biggest green candle in this month. The sharp rise of the main cryptocurrency last week pushed its price above $ 3,500, which positively affected the prospects of the market. the General Dir...

Why we support ProgPoW. Response 2Miners

Why we support ProgPoW. Response 2Miners

ProgPoW — algorithm hashing, replacing the PoW and developed by the team . At the moment Ethereum community discusses its possible implementation in the Ethereum network. Below are the opinion mining-pool on this matter. the What ...