“The digital yuan is the biggest threat we have faced,” warns from the US

https://mundo.sputniknews.com/20210728/el-yuan-digital-es-la-mayor-amenaza-a-la-que-nos-hemos-enfrentado-alertan-desde-eeuu-1114552480.html

“The digital yuan is the biggest threat we have faced,” warns from the US

“The digital yuan is the biggest threat we have faced,” warns from the US

Almost 80 countries, including China and the US, are in the process of developing a digital currency. However, Beijing is leading the way when it comes to … 07.28.2021, Sputnik World

2021-07-28T00:20+0000

2021-07-28T00:20+0000

2021-07-28T00:20+0000

economy

yuan

dollar

foreign exchange

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Central Bank Digital Currencies or CBDC (for its acronym in English) are a form of money regulated by the State, but that only exists online. This form of money has the potential to revolutionize the payment systems we know today and could change the weight of the dollar in the world economy. China is undoubtedly one of the countries with the greatest advances in this area. Its digital yuan has already been released to more than one million citizens of the nation. Meanwhile, the US is in the research stage, the two groups in charge of this research are the Massachusetts Institute of Technology (MIT), through its Digital Currency Initiative, and the Federal Reserve Bank of Boston. Both are aimed at analyzing what impact a digital currency would have and how a digital currency could be launched for Americans, according to CNBC. The main concern of Americans regarding digital currencies is privacy, which is why researchers and analysts are observing how the digital yuan performs in China, the second concern is the massive access to the internet, necessary to be able to use a future digital currency. According to figures from the Pew Research Center, 7% of Americans say they do not use the internet. Within the African American community, the figure rises to 9%, and for the age group over 65, it rises to 25%. Meanwhile, people with disabilities are also more likely not to use the internet. “Most of the work we are doing assumes that a CBDC will coexist with physical cash and that users will still be able to use physical cash if they want to,” Narula said. While some experts consider that the ultimate goal of a digital currency is for the dollar to remain the leader of the world economy, others seek to prevent the digital yuan from exceeding the dollar.

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https://mundo.sputniknews.com/20210719/por-que-el-dolar-digital-asusta-tanto-a-wall-street-1114230145.html

Carlos Lara A.

the rooster fell asleep, thanks to the fact that the dollar printer did not stop doing it; China looked for ways and found them, the US reaction is late and full of fears

Dartico

Of course it will fall. Just a little time.

2

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yuan, dollar, currency

Almost 80 countries, including China and the US, are in the process of developing a digital currency. However, Beijing is leading the way when it comes to financial innovation and this could pose a threat to the dollar’s status as a reserve currency.

Central Bank digital currencies or CBDC (for its acronym in English) are a form of money regulated by the State, but that only exists online. This form of money has the potential to revolutionize the payment systems we know today and could change the weight of the dollar in the world economy.

Without a doubt, China is one of the countries with the greatest advances in this area. Its digital yuan has already been released to more than one million citizens of the nation. Meanwhile, the US is in the investigation stage.
The two groups in charge of this research is the Massachusetts Institute of Technology (MIT), through its Digital Currency Initiative, and the Federal Reserve Bank of Boston. Both are aimed at analyzing what impact it would have and how a digital currency could be launched for Americans, agree with CNBC.

The main concern of Americans regarding digital currencies is privacy, which is why researchers and analysts are watching how the digital yuan performs in China.

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“I think if there is a digital dollar, privacy will be a very, very important part of that … America is quite different from China,” Neha Narula, director of the Digital Currency Initiative at MIT, was quoted as saying by CNBC. .

The second concern is the massive access to the internet, necessary to be able to use a future digital currency. According to figures from the Pew Research Center, 7% of Americans say they do not use the internet. Within the African American community, the figure rises to 9%, and for the age group over 65, it rises to 25%. Meanwhile, people with disabilities are also more likely not to use the internet.

“Most of the work we are doing assumes that a CBDC will coexist with physical cash and that users will still be able to use physical cash if they want to,” Narula said.

While some experts consider that the ultimate goal of a digital currency is for the dollar to remain the leader of the world economy, others They seek to prevent the digital yuan from exceeding the dollar.

“The digital yuan is the biggest threat to the West that we have faced in the last 30 or 40 years. It allows China to get its claws into everything in the West, and it allows them to export their digital authoritarianism,” said Kyle Bass of Hayman Capital Management.

The Stock Exchange on Wall Street (New York) - Sputnik World, 1920, 07/19/2021

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