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The Future Of Digital Money Is Coming


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China is now 7 years into the development of a national digital currency.It is already being tested in several chinese cities,and China hopes to have it available for tourists to use at the 2022 Olympics.In addition,Thailand has joined China,The UAE and Hong Kong in testing digital methods of transferring money between countries.In contrast,The USA is 'looking into' a national digital currency.

 

The difference between national digital currencies and crypto-currencies is the former is centralised.The implications of this are very wide.The government will have access to all transactions,and can even put an expiry date on the currency to encourage people to spend it in a given time.

 

My opinion is,at least in Asia,the digital Yuan will become the de facto currency in the near future,not the dollar.

 

https://www.nytimes.com/2021/03/01/technology/china-national-digital-currency.html

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