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With the advent of digital money (cryptocurrency) sending and receiving payments have been made very easy. It seems more countries are now consider owning their personal cryptocurrency, India and Estonia are among these countries.
INDIA TO LAUNCH LAKSHMI COIN
Believed to have been named after a goddess of India, the Indian government is set to launch the Lakshmi coin. The Lakshmi coin is tailored to be like the bitcoin. This coin however is rumored to be launch somewhere in the future as it will take time and finance to pull it off.
India government supports the cryptocurrency and they have even made it legal in the country. But the launch of Lakshmi coin will change how they put preference on other coin like bitcoin, litecoin and the rest. As at the time of writing this post, no official news have been made to confirm that project Lakshmi coin has started.
ESTONIA TO LAUNCH ESTCOIN
Though the president of the European Central Bank has criticized the Estonian government’s plan to launch a national cryptocurrency, rumor has it that the Estonia government are giving serious consideration to getting their own cryptocurrency.
The Estcoin will be monitored by the government and the coin will be available for use worldwide. But The president of the European Central Bank, Mario Draghi, has rejected Estonia’s plans to launch a state-backed national cryptocurrency. Draghi has stated that “no member state can introduce its own currency. The currency of the eurozone is the euro.”
What will happen to normal national currency if all countries decides to go digital with their currencies.? What will happen to banks? Well time will tell but you can tell us how you feel about countries owning a national cryptocurrency via your comment below.