Can the government or banks create their own crypto?

With the likes of government , NSA ,banks etc..Could they coordinate into creating their own crypto to defeat Bitcoin?
Creating something like 'Legal Bitcoin' , invest and pump, make it succesfull? Make markets aware
Maybe even create their own cryptography where they could still be able to decypher code if they needed to?

 

They can definitely create their own, but doubt they'd beat bitcoin. They'd likely create it to serve a very specific purpose.

 

they can. in fact, everybody can(if you know how, that is). But why would people 'invest' in it though? using a government's cryptocurrency is pretty much almost like using fiat money.

 

They are already doing this. Look at Venezuela's Govt. They already Have it out. Now this is a tricky since for the most part we go ofof Centralized banking so The govt's don't need crypto to make money out of thin air, since they already do that. On the other hand they already have a market for their product (their currency) US Dollar is adopted globally so no need for US crypto. Now will bitcoin be over taken? of course but will it still hold value , yes.

 

They can, but the question is are people gonna use it?

I personally dont think so.

 

the government have already planned many things with crypto, for example; banksters and political elites have created their own crypto like tether and ripple which were both funded by globalist enterprises... rather, curious

 

The government are probably in works creating something similar.

 

If the Gov was to create a coin it would also legitimize other crypto projects like Bitcoin which would cause of major panic. The US government isn't here to gamble on the future of millions/billions of lives because they want to be the cool tech country.

 

They can create crypto but they're never going to do that.

 

They would not do this because they would not be able to have the kind of control that they'd desire over the currency.

 

their fine collecting money the way it is, more control for them

 

duh

 

They already have? Ripple.. and it's #2. Lol.

 

Yes they can. Many banks are interested in cryptocurrency Ripple since it has such fast transaction fees.