Governments are going to do what they always do. Use their power and their guns to enforce their ways. They're beginning to mine digital Fiat replacement currencies for their own National currencies. It ran is doing it right now. Venezuela will probably do it soon. But they're just digital versions of the Fiat shit money that we've all lost faith in. Will they work? Who knows?
Pete Cherecwich, Northern Trust’s president of corporate and institutional services, told Forbes that while the firm is on record stating that it is “cautious” about blockchain technology, it is also preparing for a future in which governments themselves may issue their state-backed currencies on a blockchain.
“I do believe that governments will ultimately look at digitizing their currencies, and having them trade kind of like a digital token — a token of the U.S. dollar — but the U.S. dollar is still in a vault somewhere, or backed by the government,” he said. “How are they going to do that? I don’t know. But I do believe they are going to get there.”