Can the Digital Yuan Endanger Dollar Supremacy in the World?

Can the Digital Yuan Endanger Dollar Supremacy in the World?

What difference will it make Cryptocurrency Present? This digital currency has its counterpart in the real world, That is, it is supported by material wealth and is subject to the laws of the Asian giant. what’s more, Transaction will not be anonymous As with cryptocurrency.

Quite the opposite, Digital Yuan Xi Jinping may allow the government to monitor transactions of its population. In fact, this ease of use of Chinese currency may represent an attractive long-term proposition for some countries. Reserve currency.

This digital yuan can become the currency of choice globally Even in the outer space of the United States and Europe, it can achieve considerable influence on international finance, taking the role of the US dollar as a global reserve currency in the middle, “warns Oman Vasque in investment Has given

Vasquez has also stated that “China’s main problem is to maintain a reasonable ratio between controlling its currency and allowing its value to float freely at the same time and become convertible without restriction, which is not the case.” is Dollar and Euro which are freely convertible currencies, Which generates optimal liquidity to hold the position of the reserve currency ”.

The European Central Bank (ECB) is also in the race to take the digital euro And the United States Doesn’t Want to Be Back: At the Massachusetts Institute of Technology (MIT) Bitcoin Expo 2021 conference, Anders Brownworth, the Federal Reserve Bank of Boston’s system architect, announced that Joe Biden’s administration can advance its own digital dollar. However, one who realizes the idea is none other than China.

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