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Would A Country Adopting Bitcoin As Their Official Currency Need To Reinvent?

A government would need to look into the benefits and drawbacks of a Bitcoin currency and economy. They would need to consider issues such as general taxation and transparency requirements.  There is also a need for an efficient banking system. If a country decided to revise its current currency and implement a Bitcoin currency, other issues likely to be confronted would be general taxation fraud, a black economy, and the financing of terrorism.

Some advantages to implementing a Bitcoin currency would be a resistance to counterfeiting, a resistance to inflation, and an ease of tracking Bitcoin over cash for customary transaction types.

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