Countries Creating Their Own Cryptocurrencies 0 274

Countries starting national cryptocurrencies? This might just change money as we know it.

It’s no mystery that there are plenty of new cryptocurrencies popping up every day, but most of them are established by anonymous users or small groups. However, some countries are seizing the opportunity and are starting their own.

But why?

Specialists from around the world are speculating the continued rise of cryptocurrencies, so having a firm grip on the subject and even dedicated departments to it might be in the best interests of global parties.

Here are some of the countries with their very own cryptocurrencies:

Dubai

It’s no surprise that one of the most wealthy and modern countries in the world is investing heavily into the future of finance. End of last year brought the release of emCash, a cryptocurrency designed to be primarily used for governmental and non-governmental services. The current governing bodies have cemented their position as pro-blockchain in there move into the crypto world.

Japan

J-coin is a much-needed advancement in Japan’s need for a better money transferral solution. Currently, the majority of the money being traded domestically is hard cash, where most other first-world-countries are using more advanced methods like card and EFT payments. This might seem unimportant but the more physical money being used, the harder the Japanese banks work. J-coin is said to launch sometime this year.

Portugal

Currently running is the CryptoEscudo (CESC) with the current low price of 0.000418$ (as of publishing date). On Freedom Day (27th April 2017) every registered citizen was given 15 CESC to attempt to boost its usage. It was released in an attempt to help alleviate national debt.

Germany

The Deutsche eMark was launched all the way back in 2013, making it one of the earliest national cryptocurrencies. Originally, it was released for citizens to make low transaction fees.However, the currency uses a very early blockchain system similar to Bitcoin.

Spain

The Pesetacoin, currently valued at just over 5 US cents, was launched 12th March 2017. It was created to help bring the country out of its economic slump.

Other countries with their own cryptocurrency include Scotland, Estonia, Russia, Israel and many others.

It’s very apparent that cryptocurrency is turning heads even on a national level

Swedish specialists speculate that their country will be a cashless society as soon as 2020. All these countries are showing that it doesn’t take heavy technological influence to launch and maintain a national cryptocurrency, but regardless, developing countries might still struggle to persuade adopters within.

Maybe one day in the future, historians will uncover physical currency and wonder how we managed to exist with such a primitive system.

For more cryptocurrency news, visit crypto101.com

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