Digital Currency and Government Control

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I know that the following point I am about to make is mostly obvious for all of us here but it made me think that I often have US centric crypto thoughts and that is limiting. I just stumbled on an older Bitcoin docmentary that highlighted the need to be worried not about Privacy in general, which most people likely default to mean personal privacy, but rather a specific situation where a government itself creates a "coin" mostly likely claiming to use the word blockchain to try to map to the positive points of crypto currency. However, without the distributed nature it fails to act as the mechanism of trust that the blockchain was meant for and this digital currency could instead be used to provide extreme control rather than liberating freedom. The problem for US centric thinking is we often pay lip service to Privacy because we (currently) don't have government agents busting down our doors so just like saying I'll try to remember to turn off lights and I'll try to not keep the water running while I brush my teeth we don't really mean it because we are very used to freedom and reliable infrastructure. The documentary talked about India where the government altered the value of everyone's "digital" bank accounts and there was a run to the banks to try and get physical cash.