https://www.yahoo.com/news/one-day-everyone-chinas-digital-231609967.html
Observers say China wants to internationalise the yuan so that it can compete with the dollar.
"The Chinese government believes that if some other countries can also use the Chinese currency it can break the United States' monetary sovereignty.
Right. So it is indeed their goal to undermine the authority of the dollar as the world's reserve currency,
China's digital payment systems are widely seen as the most advanced in the world.
And will be utilized as prime example for the rest of the world. China shouldn't have to rule the world just because its tools are being utilized.
It's really a digital version of China's official currency, the yuan, and Mr Guo feels DCEP will become the dominant global currency. "One day everyone in the world will be using DCEP," he says.
Yea and one day everyone will be forced to take the mark.
The country is on the verge of becoming a cashless society. In 2019, four out of every five payments in China were made through either Tencent's WeChat Pay or Alibaba's Alipay.
Not surprised.
Many Bitcoin enthusiasts fear that DCEP will be used as a tool by the Chinese Communist Party to exert greater control over their citizens through surveillance. The authorities will be able to monitor how money is spent in real time.
Yea, well understood that there should be concern.
They will also have the same controls over DCEP as with the yuan.
"If you can buy a smartphone you can use DCEP."
AKA...THE GRID.
