Cryptocurrency Frenzy: Why are World Governments Jumping onto the Crypto/Blockchain Trai…

The world economy is becoming more digitalized. This fact is hardly surprising. However, what is the reason behind a sudden urge of multiple governments to issue a digital coin of their own? Altcoin Buzz contemplates and asks for an opinion.

Cryptocurrency is the buzzword.

Over a span of just a couple of weeks, multiple countries announced that they are either planning or are close to introducing a digital asset. There is China who is continuously working on its digital project. Then there is Turkey: President Erdogan has recently announced that the country plans to finish testing digital Lira in 2020.

Most recently, the European Union, an entity that comprises 28 member states, has stated that it is considering launching a virtual currency of its own. It is called Eurocoin.

These moves are impressive. After all, just a couple of years ago many countries were wary of the concept of digital money as such. Cash remained king; so did the credit cards.

However, the sentiments toward…