Can one create their own Alt SAFEcoins?

[Seneca]

You can. This is a more recent topic asking essentially the same question:

Other crypto currencies on SAFE network

Is it feasible for a new cryptocoin to be issued and run on the SAFE network? This would be a specific-use coin and AFAICS would not conflict or compete with SAFEcoin in any meaningful way. Unless of course SAFEcoin gains traction outside the network. Im looking for better security and speed of transaction than is currently possible with Bitcoin clones.