the goverments have plan to create their own cryptocurrenicies, so the btc and eth was just testing currencies to see how it works and get people to use with cryptocurrenies?
first whats wrong with fiat currency? the cash is works good nothing wrong with this.
Yeah, nothing is wrong with fiat currency. We just have to believe that a piece of paper that was printed has a value. We also have to believe that there is nothing wrong with being able to print as much money as the government want. We also have to be okay with the government destroying the whole currency value in the process of controlling the currency.
second how they are going to control how much to issue the currency and how the value will be backed?
and by who the transparanscy is guranteed?
If it is going to be a centralized crypto currency, then the government can pretty much control everything, starting from supply to the price. Transparency? I doubt we will see any transparency when it comes to government owned crypto currency. We will have a limited access to the chain information.