I know that some will be arguing that what China is cooking right now is not actually a real cryptocurrency due to its centralized and state-controlled nature. But what the heck, China is the next world superpower and it is seeing the vision of using cryptocurrency to further its entrenched economic position all the world.
I don't know where you get that idea that they are using cryptocurrency to enhanced their position as world economic power. What they are doing are taking advantage of the technology behind crypto, which is blockchain.
I am seeing a great potential of this coming state cryptocurrency to be utilized in transacting business with China or in eCommerce department, and this is a huge potential. Jack Ma must already be thinking something how to exploit this great opportunity.
Are you seeing what I describe here? China is conquering the globe without using any sword...
To be able to transact using Yuan based crypto, the other side should agree as well. Do you think that other super powers will bent and allow their state crypto to be used against US dollar?