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Seeking Alpha
2021-04-11 23:20:00

Buh-Bye, Bitcoin: The PRC (China) Has Launched A Digital Yuan. And It Will Change Everything

The e-RMB uses technology that allows "controllable anonymity," meaning buyer and seller can be anonymous, but government authorities can readily track suspicious transactions.Payments are made via phone numbers, without SWIFT, and require only electricity to be present in disaster or underdeveloped areas, thus turbocharging CCP China's ability to project soft power abroad.The 2022 Beijing Olympic Games provides CCP China with a global platform to highlight the e-RMB, giving it a tremendous first-mover advantage in CBDCs.e-RMB threatens the the entire global financial payment system and, particularly, the "exorbitant privilege," economic and geopolitical, of the USD being the world's reserve currency.

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