Government Bank Cryptocurrency

Just read this article,Russian Cryptocurrency . If banks all around the world can just start their own cryptocurrency and make crypto centralized what advantage do we have? – Won’t a big brand Wells Fargo crypto have more consumer confidence? – Crypto will no longer be private and decentralized but if consumers swarm to these bank cryptos over current cryptos won’t the everyday uses of these bank cryptos be much more ‘useful’ than current ones? – Won’t governments prefer centralized bank cryptos over decentralized ones in order to regulate and be able to tax every transaction? – If every country began using their own cryptos for their own banks won’t this be like fiat all over again? – Privacy with current cryptos are already a concern for governments, at what point will they intervene?

Maybe this situation is improbable but I just wanna hear some of your opinions.

submitted by /u/Lambokite
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