Will a fed issued USD stable coin make all other USD stable coins obsolete?

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Will a fed issued USD stable coin make all other USD stable coins obsolete?

Basically what the title says. If the federal reserve issues an official stable USD crypto, will all other USD stable coins become unneeded and die sooner or later? On one hand you can say: creating a stable coin backed 1:1 by USD will be very easy then, because you can just use the fed USD coin to back it up. But on the other hand: Why would anyone use a different stable USD coin if there is an "official" USD crypto?

Tl;Dr: How will central bank stable coins affect other stable coins? What are your thoughts?

submitted by /u/afunkysongaday
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