The US Dollar is a currency with global liquidity, and almost all national currencies must be converted to US dollars to purchase products from within the country. The dollar is the mediating currency around the world for most transactions, where US companies are where the strength of the dollar exists.
Well the power of US dollar seems to be lowering nowadays,the value is continuously dropping the exchange rate is in lower state now.
China is creating a cryptocurrency to eliminate the mediation of US dollars. This currency will transact in China, they will scale up payments globally.
I don't think China's monetary revolution will be successful because Huawei out of the 100 largest companies in the world has only 96. Hundreds of US companies have greater influence and much higher liquidity with the influence of a company from China.
With china giving loans all over the world,and silently working to achieve what they wanted to Gain?
This getting rid of US dollar may not happen in our time now but lets see in the future as china is gaining popularity and support around the world.