Robina, China's digi-currency is here

[Georgesoros]

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Whats so different about it?
We have CC that we can se anywhere, so does it mean it can only be used locally?
Is it any different than Mpesa?

https://www.bloomberg.com/opinion/articles/2021-04-10/china-poised-to-dominate-digital-currency-electronic-payments

[Nefertiti]

You are right there is no difference between this and M-Pesa or Paypal. This is digi-currency not crypto.

The import of crypto is not only the anonymity - but the independence from any central bank. Ergo, only BTC or ETH and such qualify as crypto. Value is controlled entirely by the market not state monetary policy. Ironically the more accepted say BTC is by mainstream markets - Tesla, Walmart, etc - the more stable it becomes. Because the markets reflect actual assets not arbitrary demand-supply for which BTC is notorious. Ultimately the question is: who between the central banks (the Fed or PBOC) and the [internet] free market is more trustworthy? It's rather obvious, isn't it?

BTC eats into the power of the Fed and PBOC. So I don't trust China's intentions with this, beyond battling SWIFT that is. It is meant to undermine crypto. Fed hegemony is more likely to be supplanted by PBOC hegemony yet crypto undermines that.