According to a recent report the number of Crypto currencies presently available is arond 54 and not 10 as was hitherto thought.
Since the Bitcoin protocol is an open source protocol, it is possible for clones to be built by others. The key however is the “acceptability”. It is only when the crypto coin is accepted by a large community, it has any recognition as a “Currency”.
However this also means that it is possible for some of the countries to adopt a new crypto currency Some of the larger countries can start their own cryto currencies. Each nation state may then popularize it’s adopted crypto currency within its limited geographic environment with legal backing while denying at the same time legal recognition to other crypto currencies, making the chosen crypto currency a monopoly in the respective state.
This would create one crytpo currency for each geographical state and an inter national crypto currency exchange system much like a shadow system of the current physical currency system.
It would not be surprising if India becomes the first country to adopt such a model.
Naavi
