The main reason for everything that is happening now is the digital asset race, which, in my opinion, was asked by the USA and China. Many countries now, especially the most developed ones, are striving to move their national currency into a fully digital field. As we can see, these will be stable coins, fully centralized, linked to the national currency of a particular country.
Such a currency will have a much greater level of flexibility than its physical embodiment, which can help such a currency become very common in the global economy, in the global circulation of such digital assets. Let's see who is the first to cope with this task.
Yes, they don't want to be left behind. This is the new technology and like you said it will move a nation to a fully digital field. They need to get there fast so people don't start using other currencies other than their official ones. I am not sure how that is going to work. I think it will take a long time to get a whole country to use digital currency but you could get people to exchange their fiat to the new digital currency if you have sort of booths like in an election where people go and instead of voting they convert their fiat. Maybe it will need to be made law? It would probably work like it does when a country redesigns their notes and those go into circulation.
