Post
Topic
Board Economics
Re: China’s digital yuan could replace bitcoin & end US dollar hegemony
by
deisik
on 05/06/2020, 16:51:34 UTC
Just yesterday I read an article regarding China on using Digital currency for international transactions. With this they can forcefully make a country digital just because they say so, for example this product "X" will only be available for digital currency transaction that means ones country must have deal with it

This tactic may fall flat and prove counterproductive

For example, if they are selling something and there are many sellers of that item in the world, they may see buyers turning away from them if they start wringing everyone's hands over this requirement. Indeed, if they start deliberately underselling other suppliers and vendors, then there would be a certain incentive to use their digital currency for international trade. But they are already underselling the whole world