Govt issued cryptocurrency is a total corruption of the whole premise.

Rather than distributing power, they will concentrate even more power, by giving themselves the ability to monitor everyone's spending, collect taxes automatically, etc. Its a very nice solution to erode privacy, that can masquerade under the facade of stopping money laundering, terrorism, crime.

You better believe that sooner or later they will do it, as it makes perfect sense - see Russia, China already getting the ball rolling. These countries can move quicker due to the more totalitarian nature of their govt/society.

It will be a bitter pill for the crypto-enthusiast minority to swallow, but unfortunately, the vast majority dont give a shit, and will go along with the govt plan, as long as they get fed a nice line about security, peace, prosperity, sleep well at night, blah blah.

However, its not all doom and gloom - if the crop of leading cryptos (looking at you BTC, ETH, XMR, etc.) can keep innovating, there will a place for both decentralised and centralised cryptos, and maybe the decentralised can then work on changing the system from within.