Russia is working on a government-run cryptocurrency. And they’re not alone.
Governments around the world — including the U.S., China, Japan, Canada, Venezuela, Estonia, Sweden, and Uruguay — are either actively working on some form of digital currency or exploring the topic.
But don’t expect a bunch of bitcoin clones. Governments have very different priorities, and decentralization — a main feature of most cryptocurrenices including bitcoin — doesn’t tend to be one of them. In fact, government digital currencies could herald a new era of centralization, posing serious questions about privacy and the viability of true cryptocurrencies like bitcoin. Read more…
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Originally syndicated from What happens when governments get into cryptocurrency
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