Technically yes, but the limited number of computers and the limited number of blocks will reduce the value.. It defeats the whole purpose as in which the more people use it, the valuable it becomes, I don't think they can compete.

Thinking about it, there's a million ways they can spin it but the same problem remains.

If it's only digital money they need, no need to have a private hashing, just stick with fiat which 90%+ doesn't exist in the real world, just created by keystrokes on the computer so it's the same scam.. Which means it's not a solution for them.

Excellent question btw. Wish I knew the answer but I guess no one knows what stuff these people would come up with.