I’ve heard mixed thoughts on if each country eventually created their own cryptocurrency, would Bitcoin still be number 1 or would it fizzle out. Some say it would legitimize Bitcoin even more, others say it would make Bitcoin obsolete.
What are your thoughts?
It should be borne in mind that states create their digitized currency, which at the same time will be a stable coin secured by the currency of that state. Stable coins perform completely different functions, this is a completely different branch of cryptocurrency. They have nothing to do with decentralized cryptocurrency.
Yes, stable coins of states should increase the general trust of people in a decentralized cryptocurrency, since all states will use the same technology. At the same time, these stable coins of the states, most likely, will be in demand as a means of payment and a decentralized cryptocurrency as a means of payment in this regard may continue to lose its liquidity.