This Is Why The World Will Not Be Impressed With China's Digital Yuan
As I may have mentioned in my previous post that cryptocurrency may just have been the "Asians attempt to push the dollar off its position as the strongest currency" It's sad and I didn't mean to burst their bubble but starting with Asia, the continent will not be pretty much engaged, yet alone the world be interested nor impressed by China's CBDCs. If we are talking billionaires that are careless about their money entering the markets, then Asians are a perfect fit. The Chinese specifically are great at marketing liabilities in form of Assets, this is how they play production roles and companies get slammed for issuing bad materials.
One more thing the Chinese Government is good at is Currency manipulation, this act is in place to aid the Chinese gain more export deals, with a relatively low strength yuan, countries looking to have closely functional products will be on the lookout for Chinese deals, this is why clothes exportation is a huge business down there, and every small sector looking to grab cheap sells for higher profits in their locals always have the Chinese to look up to, an example is the boutiques down here, made in China dominates the masses of them.
Based on several theories Bitcoin originates from Japan, which only has created competitions between the Asian countries. China always being at the toe to copy the Japanese inventions have however taken this one real quick. We've seen numerous cryptocurrency projects with Chinese teams… Half if not all are Centralized. This doesn't really stop investors from hopping in, the Chinese army is great, even all of Asia knows this, they have a thing of coming together to build, that's how they unite and engage in market pump and dumps.
This Is Why The World Will Not Be Impressed With China's Digital Yuan
While it is not different from other nations of the world, CBDCs in general will be an invention of even worse centralization. The last thing the world will want to do is live under the manipulations of China and its varieties of discomfort. Private sectors including commercial banks won't really be a fan of CBDCs, there will be way more gains in crypto ventures for them to accept the Chinese government manipulated digital currency.
In case you didn't read Splitting Pennies or don't already know, the NSA/CIA often works for big corporate clients, just as it has become a cliche that the Iraq war was about big oil, the lesser known hand in global politics is the banking sector. In other words, Bitcoin may have very well been 'suggested' or 'sponsored' by a banker, group of banks, or financial services firm. But the NSA (as we surmise) was the company that got the job done. And probably, if it was in fact 'suggested' or 'sponsored' by a private bank, they would have been waiting in the wings to develop their own Bitcoin related systems or as in the above "Settlement Coin." So the NSA made Bitcoin - so what??
Who that?
This points us back to the post: Commercial Banks, Politicians, Societal Hypocrisy Will Give The Crypto Industry More Time To Emerge Stronger
What the world has to understand is that there is a lot of truths hidden, a lot of lies published and a lot of pretense consumed. While crypto has always seemed like a function the bankers disliked, the truth is that the same bankers are the backbones of so many cryptocurrency projects, in fact, that's another post entirely.
China will expect the world to be interested in its low priced currency running on the blockchain as supposed, sure, for a while it could see folks transacting on their mediums, but no one will be willing to hold that out. For the period where centralization still fights to stay, we may just see CBDCs getting listed on exchanges or should I say becoming an option to swap crypto into, this could just be what to expect, but when once the realize that isn't going to get much attention, the world would likely step into another war, speculations and conspiracy theories, perfect combo to get your day going…
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The digital YUAN is going to be a screaming success within China because the CCP can force the Chinese citizens to use it. However, how outside China is going to use that?
Is there a Japanese company that wants the Chinese government to not only see every transaction but also be able to stop it? Will any European companies sign up for that? American?
Obviously not.
Of course, do any of these companies want the same power held over them by the EU or USG? Food for thought as to who will use these other CBDCs.
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This isn't a success if the term force is found in there, in fact, this could fuel a fight within the Nation.
This post being birthed after reading this; 'One day everyone will use China's digital currency'
So, as already stated above, the world won't be interested in such.
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Sometimes China always be selfish,they don't want crypto currency mining in their country but they will want people to use their products. I don't know that BTC was originated in Japan.Thankks for sharing.
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