Tough questions to answer.

When fiat currencies start to collapse, there will be a huge rush to switch to crypto.

A lot of people are going to lose their asses as they jump into something they don't understand.

You're starting to see it already, look at the number of posts here comparing Ripple to Bitcoin to Ethereum to Stellar Lumens, etc without looking at their underlying purposes.

All they see is price, denominated in USD.

I heard Palestine is working on it's own national cryptocurrency too. Every smaller country should embrace cryptos so to avoid more debts and imposed taxations by the IMF and the IB. Singapore is a tax haven but still cryptos will gain them much profit as it will be easier and from every side of the world to go Singapore Dollar.

Truly something to think about like your posts.

Smart move by Singapore,  money market most likely will shift to cryptocurency direction anyway! It's the beginning of new money era! Blessings to all! Upvoted adn followed!

In my opinion real age of cryptocurrencies  its unstoppable..:)

Yesssss exactly! my predictions is that soon, crypt I currencies will take over fiat and people have more control over their monies than ever before! Super!  I wouldn't mind this at all.  Lol

This will be revolutionary and tbh it doesnt surprise me, its one of the reasons singapore is always ahead of the game

Official word from the Monetary Authority of Singapore:

http://www.mas.gov.sg/~/media/ProjectUbin/Project%20Ubin%20%20SGD%20on%20Distributed%20Ledger.pdf

It's a 44 page PDF, if there are some crypto-number junkies that would like to comb through it to get additional detail.

An interesting question that I wouldn't be able to answer. I do like the fact that Singapore is going to tokenize their dollar though. I am curious about what we can expect next!

Realy great post. Nice one.

That is really interesting, i can imagine many country coins moving to crypto as they realize crypto is the future... There is no falsification possible, and the crypto value can only grow...

The beginning of new money.  How sweet it is!

I guess that's some bit of good news for people like me from Singapore :-)

I've read that Russia is also interested in crypto and recently met with the Ethereum guys.   I don't see the banks voluntarily moving to crypto because they want their cut.    But at some point crypto will be accepted as collateral, and media companies will be buying Steem Power, etc., etc..   it's moving so fast I don't see the governments being able to stop it.   In fact, I think the more they try to stop it the faster it will go up.

The world is going on Cryptocurrency , its the need of the time and its the great revolution in the world of currencies...Digital currency is the safe and fastest step after Plastic Money...

Cryptocurrency is future
every country have to accept it sooner or later
tahnks for sharing this @jacor

Here's a twist.  What if the USD is replaced as the "Global Currency", through nations creating agreements to trade petroleum in currencies other than the Petro Dollar (which is really all that supports the USD), and Bitcoin replaces the USD as the Global Currency?
Instead of thinking of how many dollars, yen, euros, francs, etc a Bitcoin is worth, we would ask how many Bitcoins a dollar, yen, euro, franc, etc is worth.  Bitcoin would become the standard ruler by which all other currencies are measured.

Hi!

Thanks for the link. Thats my country! :D  Pretty pleased that MAS are open to innovate and understanding that crypto and blockchain are the transaction of the future. In fact, our Singapore Powers (https://www.techinasia.com/singapore-power-to-lower-utility-bills-with-blockchain) as well as one of our Polytechnic  (https://www.techinasia.com/ngee-ann-blockchain-diplomas) are doing testing of blockchain technology as well.
Another side note, the name Project Ubin comes from a small little island near Singapore -  Palau Ubin. :D

Hi @jacor this is an interesting question, but I think your assumption is correct. I would however love it if we could only have crypto that is not attached to any country. This will help people like Zimbabweans where their FIAT is worth nothing.

Goeie werk, baie interesante artikel :) Sal dophou vir nog.