China is embracing digitization in many forms, including money, in a bid to gain more centralized control while getting a head start on technologies of the future that it regards as up for grabs. By design, the digital yuan will negate one of bitcoin’s major draws: anonymity for the user.īeijing is also positioning the digital yuan for international use and designing it to be untethered to the global financial system, where the U.S. It is expected to give China’s government vast new tools to monitor both its economy and its people.
China is turning legal tender itself into computer code.Ĭryptocurrencies such as bitcoin have foreshadowed a potential digital future for money, though they exist outside the traditional global financial system and aren’t legal tender like cash issued by governments.Ĭhina’s version of a digital currency is controlled by its central bank, which will issue the new electronic money. But those are just ways to move money electronically. and WeChat in China eliminate the need for bills or coins. It might seem money is already virtual, as credit cards and payment apps such as Apple Pay in the U.S. Now the Chinese government is minting cash digitally, in a re-imagination of money that could shake a pillar of American power.
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Re eCNY, looking very good, the insurrectionĬhina Creates Its Own Digital Currency, a First for Major EconomyĪ cyber yuan stands to give Beijing power to track spending in real time, plus money that isn’t linked to the dollar-dominated global financial systemĪ thousand years ago, when money meant coins, China invented paper currency. Message to Powell, "But BTC to prevent a BTC gap" Powell said researching that question is a “very high-priority project.” “We don’t need to be the first,” he said. Of the things and nothings, BTC is uniquely private, not necessarily in the sense that it is anonymous, but that it answers to no sovereign, and cannot be blocked from crossing artificial lines on the mapped terrain.Ĭhina invented paper money, now finding it is not as nice as digital money, and is about to re-invent global monetary markerĪsked during a recent Senate appearance whether the dollar could be digitized to help the U.S. Revolution time.įor the prepared, start escaping, to gold, silver, hydrogen-economy tokens Pt and Pd, antique Chinese calligraphy, paintings, Maotai liquor, imperial seals, anything, as long as a thing, and if not a thing, then BTCĪs Universal Basic Income takes point around the world, a revolution no less important than the eCNY insurrection, and as the mobs gather, the prepared must also go after the same types of assets as the Chinese go after, namely things, including gold, silver. The danger to those unprepared in China is that the eCNY launch foretells the de-legitamisation of cash-RMB, and the dark economy money shall be herded to the centre of the municipal squares for all to see and ponder over. With the weapons-free of eCNY, my wager is acceleration of change shall be positive, and that eCNY would be convertible at least via casinos in Macau to BTC.
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I watch the progress of the money experiment that has been going on north of me w/I 2 hours drive with great interest, for the money-bug or financial-feature shall be launched on the domestic scene in 2022 (month not yet specified), and the schedule should keep appointment if the current interim trial launch result is true. because I see that she is a member of the rebellion. 2032 Darkest Interregnum - Ignore unavailable to you.
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