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Vishu Bheda

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Medial • 3m

China will kill the US dollar. First, they banned crypto. Then, they secretly invested $1.5 billion & became the 2nd largest Bitcoin mining hub. Here's their masterplan to take over by 2030: President Xi Jinping's 2019 announcement revealed China's true intentions: "Seize the opportunity" in blockchain. This results in: • 500+ blockchain projects registered with the government • Alibaba filed 90 blockchain patents - more than any company globally China's real target: The global financial system. Their weapon: The digital yuan. It's China's official digital currency, issued by their central bank. Unlike crypto, it's centralized and backed by the government. The Digital Yuan Allows China To: • Bypass international sanctions • Reduce dependence on the dollar • Gain unprecedented financial control 35% of the world's CBDCs already run on China's blockchain network. The next financial revolution is underway, with China leading. Follow for more valuable content.

11 replies21 likes
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Replies (11)

Saksham

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Bebyond • 3m

Some facts about Chinese CBDC: 1. Privacy & Surveillance: It enables government tracking of transactions, raising significant privacy concerns and allowing deep insights into users' financial behaviors. 2. Limited Anonymity: Offers “controllable anonymity,” with authorities able to identify users, unlike the full anonymity of cash. 3. Financial Control: Programmable to restrict specific purchases or set expiration dates on funds, limiting individual financial freedom. 4. Data Sovereignty: Foreign businesses may face compliance and oversight issues, as data on cross-border transactions could be subject to Chinese data laws. 5. Cybersecurity Risks: Vulnerable to cyber-attacks, potentially compromising sensitive user data. 6. Global Interoperability Issues: Not aligned with international standards, causing challenges in global trade and limiting acceptance outside China. Launch of CBCDs saw huge protests and people switched to Cash. CBDCs aren't a solution, its a way to monitor.

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