FrontChina Digital Currency Could Upturn US Dollar In 10 Years
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Paradise Sun 23 May 2021, 1:08 am
80% of international trade in the world is done with the US dollar, this gives the US economy a very strong base.
In 2019, Mark Zuckerberg told the US government that China could upturn this by introducing a powerful digital currency using the blockchain. The world will then start using this crypto currency overnight and this will upturn the US currency.
As a solution, he came up with Libra: a powerful cryptocurrency that is meant to be there for the world before the Chinese are ready with theirs.
During the meeting, the moment the stakeholders understood the scope of power the digital currency will put in the hands of Mark, they all freaked out and backed out of the deal.
Today, China is now testing their own digital currency on a large scale. China is well positioned to take over the world with this because they have already perfected digital purchases for their citizens using things like WeChat pay. In certain cities in China, no one uses cash any longer, just QR codes and mobile app transfers.
Also, no one is talking about decentralization, no government will easily allow decentralization to happen unless it is beyond their power to stop.
The next 10 years will be very interesting with respect to digital currencies.
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