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CHINA’S DIGITAL YUAN IS a $1 TRILLION MIRACLE: Because Who Needs Actual Economy When You Can Just Print Numbers on the Internet?

A stylized illustration depicting a giant digital yuan coin hovering above a map of China with 17 provinces marked in red, surrounded by swirling lines and shapes representing financial transactions. In the background, subtle images of people shopping online and using mobile payments are visible.

With great fanfare comes even greater delusion – at least that’s what China thinks as it proudly proclaims its digital yuan initiative a massive success with over $1 trillion in transactions. Oh please, let me just contain my excitement for the sheer absurdity of this claim. I mean who needs actual value or real-world usage when you can conjure up numbers on a computer screen? It’s not like China is trying to distract from its economic woes by touting some half-baked digital currency as a panacea for all its problems, right?.

Source: bitcoin.com

China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of 7 trillion yuan (close to $1 trillion). In addition, China is working with several nations […]

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