The US Dollar is a currency with global liquidity, and almost all national currencies must be converted to US dollars to purchase products from this country. The dollar is the mediator around the world for most transactions, where American companies are where the strength of the dollar exists.
China is creating a cryptocurrency to get rid of its middleman US dollar. This currency will transact in China, they will expand the scale of payments globally.
I don't think the Chinese currency revolution will be successful because Huawei out of the 100 largest companies in the world is only 96. Hundreds of US companies have greater influence and much higher liquidity. with the influence of a company from China.