I see it as if any chain is connected to a fiat currency then the GOVs that own that currency be it whatever country, owns the chain. They can inflate it, crash it, make it volatile, all the while creating their own and pumping it slowly and making sure it does not crash.
If the chains stayed a barter chain and fiat currency was not attached it would work. Link it to fiat currency and the one with the most wins and that is the GOVs and bankers of the world in their respective currencies