Quote from: Mauser on October 28, 2020, 09:39:57 AM

Quote from: KenCryptos on October 28, 2020, 09:08:30 AM

China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Read the article: China Soon to Legalize Digital Yuan and Ban Other Stablecoins, DCEP to Work With WeChat and AliPay

I don't think so. China is still not a free country, the economy and the hole nation is being controlled by the communist party. The same goes for the currency, the Yuan is not freely traded. So the same will likely go for the digital Yuan. Investors in a digital currency looking for security and independence. I think this currency will likely be important within China, but not internationally.

I agree. That will be certain that there could be an improvement when it comes to the modernization in the country for adapting into digitalization of Yuan but still such happening will not guarantee that China will gain more power just because of that. There are still lots of things to be considered to be able for such thing to make happen. Yes, we all do know that China is already a big and powerful country as for today but the existence of digital Yuan if ever will still not ensure that it will make China to gain immense power.

Switching from the traditional going to digital is such a great move for a country because they do have such capacity to adapt on doing that. Such improvement will just stay up into the country for self improvement on currency but such will not be for international perspective. To be able to make China even more powerful, digital Yuan must be known on international trading to gain more popularity and power for them.