If they do release a cryptocurrency their cryptocurrencies will still have to compete against other cryptocurrencies. If they create this other cryptocurrency out of nothing it will be still be worth less than other cryptocurrencies and they will have the same problem than with their national currency where people will still prefer the better currency.
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Agreed, but if they were to do so say Japan, because of their outlook,on the positives inherent in crypto- releases J-coin or something to that liking. Such ‘coin’ would receive more ‘users’ in Japan because I’m guessing here - people will tend to trust the structure of ‘government’/safety of government. I mean more users than say bitcoin in Japan. So I guess your right that it would still have to compete with the other crypto’s.