If it works, it will be a lunching point for other nations to have centralized digital money.

If it fails, then people will associate the failure with real crypto.

Some may differentiate centralized from open-source freedom oriented crypto, but most will just be confused by the failure of the government mined coin. They also may be scared off by it.

Personally, I think it will be adopted (as was the paper bolivar) then fail as the bolivar did.