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> Also, could a country make it's own crypto currency somehow pegged to it's national currency? Sure, but what would the point be? It would only be a cryptocur
by runeks 9y ago
> Also, could a country make it's own crypto currency somehow pegged to it's national currency?
Sure, but what would the point be? It would only be a cryptocurrency in name. No reason to go through the trouble of using a blockchain if you're just trading credit. The selling point of Bitcoin is decentralization, and pegging requires centralization (a counterparty who will transfer national currency to your account upon receiving crypto-coins).
- kristofferR 9y agoSmart Contracts, if fully supported by the government, could completely remove a lot of the avenues of small-scale governmental corruption.
- crdoconnor 9y ago"Sure, but what would the point be? It would only be a cryptocurrency in name." It could be used as a way for the government to tie its own hands and thus make a more credible promise about future the rate of money creation. Ecuador did this in 2000 via dollarization, which introduces other problems which a blockchain would not.
- askmike 9y agoYou don't need cryptcurrencies to do this. I guess you can, but if that is your main reasons you will probably face more trouble than you'll solve.