Crypto Vs. Cash: Which Countries Expect to Go Digital Soon?
Elena Perez's original article for cointelegraph.com reduced by 46%
Here are three more countries that are close to abandoning cash payments and potentially accepting cryptocurrencies as a payment method. "In my definition of cryptocurrencies one of their hallmarks is that they are not issued by a government, or union of government. In that respect I do not think that governments now or in the future will consider promoting cryptocurrencies as a major form of payment instrument.
If we talk about digital currency in a broader sense, I think it is highly possible that governments in the future will create digital form of money that can be used for payments." GermanyGermany has long been an outlier of European Union, with the nation currently having no restrictions on the use of cash payments. At the beginning of February 2016, the Ministry of Finance proposed to limit payment transactions with cash to the amount of 5,000 euros - both in the country and throughout the eurozone. In October 2018, the Bank of Canada described a number of issues associated with the country's complete refusal of cash in the study "Is a Cashless Society Problematic?" For example, some people, such as the elderly, may still prefer to use physical money instead of electronic payments.
To issue a digital currency by the Central Bank of the country, which would not be a cryptocurrency, but a digital version of the Canadian dollar to compete with private payment networks. Today, almost everyone understands the direction in which the payment systems of the future will develop, and it is definitely not toward cash or physical assets - cash will become electronic, but what role will blockchain and cryptocurrencies play? And whether it can prove its speed and complete security, we'll have to wait to find out.
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CN [too long; didn’t read]
Summarised crypto news.