Cryptocurrencies and the Future of Money

When the Bitcoin was released to the world in 2009, the main people around it had a general idea of creating a digital currency system that will be decentralized. This meant that it wouldn’t rely on banks, countries, or any other financial institutions that could have control over it. Very few people around that time believed that something like this could succeed in the future.

As we said, 2009 marked the birth of Bitcoin and it became the currency of the people as some people are calling it. This is somewhat true because Bitcoin still avoids the grips of countries, banks, and other private institutions. Also, Bitcoin accumulated a huge following among the world’s population and was the seed who made it possible for alternative cryptocurrencies to emerged in later years.

According to today’s trends, the future of digital money is inevitable. Plus, almost ironically, countries that were the biggest threat to cryptocurrencies around the world are going to make their own digital currencies in the future. We predict that most of the countries in the world will have their own national cryptocurrencies. Now, we are going to talk about that in greater detail.

National Cryptocurrencies

As we said in the intro of our article, ironically, countries will start to produce their own digital currencies in order to be competitive in the future. If you are interested in this topic, you should definitely check out BitcoinEras. The first decade of cryptocurrencies was spent on regulation, adoption, and of course, the development of enough digital currency technologies. So, our common sense tells us that all of the countries in the future will have their own cryptocurrencies.

Cryptocurrencies and Venezuela

The first country in the world to make its own cryptocurrency is Venezuela. According to the information we have, there are some other countries that plan to do the same in the near future. The name of the Venezuelan digital currency is Petro Crypto that is introduced to the world market in 2018. The aim of releasing this digital currency was to minimize the negative effects of US sanctions imposed on Venezuela that led Venezuelan Bolivar to demise.

Cryptocurrencies and Iran

The next country that followed the example of Venezuela was one more country that the US has its sanctions on Iran. Like Venezuela, in order to avoid a crash of their economy, Iran’s central bank decided that they want to create their own digital currency. According to the info that we have, it is going to happen in the very near future. Two months ago, the central bank of Iran stated that they are finalizing the production of their own national cryptocurrencies.

The Conclusion

Besides Venezuela and Iran, countries that reported that they are in the final stages of launching their own cryptocurrencies are Sweden, Japan, Israel, Turkey, Russia, Estonia, and Senegal. In the end, we know that central banks have the task of maintaining the financial stability of the country. We are witnessed that the current economic stage in the world is far from stable. 

Maybe national cryptocurrencies are just what we need in order to have some financial stability. In the end, it is important to know that blockchain technology is continuing to improve, which only says to us that they are the future of world economics.