If a single actor can monkey with the chain, then the chain is substantially less valuable. The US dollar is the worlds currency because its difficult to monkey with it (though it is possible to force say Deutchbank or a Swiss bank to freeze an account of an undesirable person, its far more difficult than if the US government can just press a button and freeze your USDC wallet). Also, if I have a big stack of $20US, they government needs to find me and use guns to take it away from me.

But I can see what you mean, I'd probably use "CanadaCoin" if it were accepted at the grocery store. It would basically be the same as using my VISA.

There's no 'investment' to be had on these coins though. Governments will issue government contracts for building technology stacks, and speculation will yield exactly 0% RoI (as thats the entire point a dollar is worth a coin, and a coin is worth a dollar).

So I'm not sure what we have to talk about though. Either governments do this, and I get a new piece of plastic I stick in my wallet and nothing really changes, or they dont, and nothing really changes