Great post, Nick. I like your point that the cryptoruble may do some good by bringing more mass awareness and eventually adoption of other cryptocurrencies. But yeah, I don't see the cryptoruble doing much for the cryptoruble itself. It misses the whole idea, like you say.
I mainly see these kind of hybrid crypto-fiat ideas as a way for countries to find themselves a cheaper way to manage and issue centralized currency, trading off some bit centralization in order to limit some degree of overhead/middlemen financial costs. But they sure don't want to let go of central control and the ability to manipulate the currency on their terms.
A hybrid is not necessarily a bad thing, but it's valuable to point out that it's not like bitcoin for example. But who knows, maybe hybrids will find a valuable niche between fiat and crypto in the future. Maybe governments will put favorable taxation rates on converting through their hybrid. Or maybe not.
Thanks, Matt.
I think that in near future the disruptive potential of blockchain technology is going to force countries to either participate or loose out. Geopolitical competition. Rumors have it that China is working on a regulated Yen-bound crypto and when it's released they will issue new regulations for ICO's. This might actually be an overall good thing for everyone, and also I don't think that China will want to really miss out on all the innovation, especially if you consider that 80% Bitcoin is mined there.
A problem that these Countries (especially Afrika) are facing is investors, wanting to protect themselves from inflation, selling their fiat currency and storing value in cryptos. Obviously no government is happy about such economic blows.
The hybrids seem like an alternative offering to mitigate the damage. I hope thought, that the people will inform themselves and choose the real cryptos.
For banks and governments hybrids might be the only viable solution at the moment, because regulation is necessary for these bureaucrats. Most big banks already started working on their own crypto's. Ripple is in this niche too.
I think that projects focused on user experience might help the adoption rate too, App-wallets with nice GUIs like Coinami and crypto debit cards like TENX are a great start.
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