Crypto Centralized coins vs decentralized coins

[Josemendez]

That's just it dear, they are creating digital version of their Fiat currency in a centralized way which isn't volatile so that they will control was going around its blockchain. It is not comparable to the volatile coins or known Cryptocurrency, cos crypto brings investment return short and long term. Where as the CBDC can't bring any return, it will only give our funds security not to drain down through volatility.

Now , the question is this , will weak currency of low tier countries be improved by the adoption of the digital version of the country's Fiat Currency? , I guess No .
They will only improve the rate of payment .
It will be better for the government to find a balance between the two digital currency as they both need each other for full functioning .

 

[sincerem]

Here , what these countries are trying to build is the digital version of their Fiat currency known as CBDC . The issue here is that it is not quite different from their present Fiat currency , is just that it is digital. Secondly , it is not volatile which makes it different from cryptocurrency.
Cryptocurrency will always attract investors because it offers profit opportunity which is absent in CBDC.

That's just it dear, they are creating digital version of their Fiat currency in a centralized way which isn't volatile so that they will control was going around its blockchain. It is not comparable to the volatile coins or known Cryptocurrency, cos crypto brings investment return short and long term. Where as the CBDC can't bring any return, it will only give our funds security not to drain down through volatility.

 

[Wisdom01]

We might continue to see more existence of centralised crypto since the government are obviously keen on controlling currency , do they might focus more on promoting and adopting the use of it to a large extent and to the core because its the basis for them to control the money supply and other gains for the economy development, some things like this need to be considered

 

[Lens1000]

Their is something I do not seem to understand in the thread and trust the creator in giving an appropriate answer. What is the difference between the decentralized coin and the fiat currency? The government will lose its power of autonomy on the financial institutions if it gives the decentralized coin the way.

 

[Chibson]

Cryptocurrency will always survive because people want to be in charge of their money without any central interference. It is of no doubt that cryptocurrency has a lot of advantages and also disadvantages. One disadvantage of it is that it cannot be traced whenever you lose a cryptocurrency by theft or otherwise. The advantage is that it is decentralized and you can send it to any part of the world within a very short period of time. What China is trying to build a house build is a stable coin which is the same thing as usdt and more disadvantage is that it can be controlled by them.

 

[Josemendez]

With the way things are going around the digital ecosystem, some countries have raised awareness, expressing dissatisfaction around Cryptocurrency especially the private coins which is untraceable, and other decentralized coins . They believe it is mainly used for money laundering, since they can't keep hold of it, and control the transactions going through their anonymous Blockchain networks, they felt disillusioned around them.

That has prompted some countries like China, Nigeria, India, Russia, South Korea etc, to be worrying about the long term benefits of the decentralized coins since they can't regulate, and control what's going through their respective Blockchain network.

China have taken that bold step, and surprisingly banning Crypto in their country cos of its anonymous nature, building their own coin in a centralized way which is given after Yuan, in a digitalized form ( CBDC). Nigeria, India, Russia etc, are simply planning on building their own centralized coin, grabbing inspiration from the bold step the Chinese took.

Do you see the centralized digital currencies usurping the decentralized digital currencies as the popular choice for transactions in the future??

Here , what these countries are trying to build is the digital version of their Fiat currency known as CBDC . The issue here is that it is not quite different from their present Fiat currency , is just that it is digital. Secondly , it is not volatile which makes it different from cryptocurrency.
Cryptocurrency will always attract investors because it offers profit opportunity which is absent in CBDC.