@ponponwei
Yes I was referring to a blockchain
You are correct though, in China go anywhere and using cash is like some ancient practice.
The first phase of China’s digital Yuan was to get the population used to using payment wallets. Now everyone uses Wechat and to a lesser extent Alipay.
Even here in Thailand, there is a shift to wallets. In my home of Chiang Mai, pre covid whenever Chinese tourists walked in 7-11 they were scanning QR codes and causing frustration to locals as service was slow.
But you can’t go into a 7-11 anywhere now without seeing them. The Thai government even used their own Kon la Krg payment app to get covid stimulus out to the locals.
My girlfriend even uses it to buy cat food at the wet market - lol
So in Asia generally there is a move to wallets.
But that was China’s first step - they let industry develop the tech without getting to involved.
The next step is a trial of blockchain Yuan - they are already trialing it in one or two provinces.
The ultimate goal is for a full digital Yuan (maybe even backed by gold) that they can use with all their Belt and Road client states.
And, these client states, countries in Africa, Central Asia, SE Asia, Latin America, Portugal, Italy, Greece, and Turkey - will all use it - because of convenience
It will be on a blockchain as you say, so where is Bitcoin’s place in a world like this?
And Western CBs are already panicking and developing their own, although they are well behind the curve.
