Already we can see that China plans on making the digital yuan a near reality. They have invested in blockchain technology and they plan on getting rid of bitcoin, its main competitor. The sentiment from the International Monetary Fund and the World Bank is that they will only back digital coins that are issued by other central banks. Nationalists that are interested in protecting the value of their currency as well as the banking elite will always attack bitcoin. We have seen that happen in Turkey. Turkey's lira is experiencing rapid inflation so many of investors have started to put their money in bitcoin for safe keeping. Unfortunately Turkey has banned all cryptocurrencies.

China's digital yuan has the capability of tracking people's spending habits, where they send their money and potentially where they live. When you look at the future of digital currency, it may be headed towards the CCP's goals. There will be absolutely no freedom with spending habits being traced. This would be good for the government that is interested in stopping money laundering but it'll also introduce a new level of technological privacy invasion. When the "Fed Coin" becomes a reality, I don't think most people would trust it very much.