Why Governments Might Join the Cryptocurrency Craze - Bloomberg

Check the full article for some disconcerting details

"With crypto mania sweeping the world, a handful of countries have stirred at the possibility of issuing their own virtual currencies based on blockchain, the technology behind Bitcoin. For now, the idea seems most popular among autocrats looking to evade or undercut international sanctions that are enforced, in part, through the global banking system. But advocates of government-backed cryptocurrencies (so-named because they rely on cryptography for security) say that if the movement takes hold -- which is by no means assured -- it could irrevocably change the international monetary system as we know it."

Why Governments Might Join the Cryptocurrency Craze - Bloomberg