I wouldn't call it an essential for the development of a country and I think it will never be.

Crypto is an alternative to fiat, and for sure fiat will continue to dominate the financial market. And then we still have gold being used as reserve assets for majority of the country.

We shouldn't over complicate things as see crypto as something of a miracle or magic bean, because it is not.

Not really but it's a good additional sector if a country is looking for another means of taxation.

Yes just like any technology that's being embraced.

What damage? the only damage is the thinking that's it's mainly used for illegal activities.

I think you have to be clear, cryptocurrency and crypto business is not the same thing. At the end of the day, cryptocurrency is just that, a "currency". Whether a country can prosper or not depends on other things. Just because they adopt crypto as a medium of payment won't make them get rich overnight. It might have the opposite effect, who knows.

You might want to explain further why you ask about this. If it's related to your country, we might be able to discuss further instead of throwing generic response like "it depends".

It depends!

There are some countries that have a middle economy, maybe Bitcoin could be one way to boost such country's economy. Perhaps such a country could legitimize Bitcoin in its government and allow citizens to invest in it as a normal business and then pay fewer taxes to the government as a contribution to building its economy (maybe 5%) based on the profit they get from Bitcoin. If 5 million people invest $10,000 in Bitcoin (5m people x $10k = $50b) and maybe their total profit become 30% per annum because it's possible ($50b x 30% ÷ 100% = $15b) it means the government will have a new 5% tax per year from that profit of $15b ($15b x 5% ÷ 100% = $750m)!!! Now for a middle-income country to collect $750m from Bitcoin investors is a very good thing!

The problem is here, how will the government find a way to be able to track all the accounts of those investors to know how much they have collected per year to get that 5% when Bitcoin is a non-government currency??

The backing technology will evolve as an essential thing for effective management on each and every sector. Cryptocurrency isn't evolving as an essential thing, it is getting adopted as an alternate to the traditional payment and investment. When it is about the economy or uplifting of the country, cryptocurrency has got its role. Some countries have taken it in a positive way whereas majority are with the fear of losing control over the economy. At present we can't be judgemental on whether it is important for a country or not.

In my opinion, fiat will still be the main one, crypto is used as an alternative to fiat such as investing and others that can increase one's income. State development issues or matters relating to the state would be more suitable if managed using fiat because crypto is unstable and difficult to predict. Moreover, the interests of the state are usually carried out immediately or immediately, if crypto is used and at that time the market is down, the state will suffer losses. It's all just my opinion whether it's true or not, let time tell.

That is too far and too wild to imagine because crypto is not yet in all countries so we can not say that. Besides that, every country has its own currency and does not easily accept crypto as another help to their country. I could say many possibilities for crypto to help the country but maybe the first thing that will get the effect of using crypto is people because they can make money to survive. Out of that, the country still uses its own fiat to develop its country. Maybe crypto can be their reserves funds but with the volatility of crypto price, it will not be easy for the country to accept crypto for their currency.

It may not be important for a country if we look at the example.of what China did to cryptocurrency which they've completely banned it all. Its different in the case of El Salvador because they embraced BTC.

Two different scenarios makes it appear like it all depend to the kind of government a country has. China's reason is that a lot of money they have are sent out from China. For El Salvador, they don't have their own currency.

Cryptocurrencies can be important for countries that adopt them because they can support existing fiat
but for countries that are anti-crypto, I think the absence of crypto doesn't have much effect on economic growth and the country

For me, it was not necessary for the country to adopt crypto as we could still make our economy growing without them. But why we shouldn't have to miss this stuff if this could help your people to improve their living? Not allowing them is selfish, it is just like we are cheating and stealing their freedom to grow that instead they still have the chance.

May having crypto isn't important but as we are in this new era, it somewhat it looks good and probably placing an important role in our life, in our daily activities. We can't just really feel it importance today but might be in the future.