China’s economy has grown rapidly in recent years and has now become the second largest in the world. Economic experts assume that China could one day establish a new global order and take over global financial rule. The Chinese central bank is reported to release a yuan-based cryptocurrency later this year. According to a new report, this is already being tested at McDonalds, Starbucks, Subway and other restaurants.
Good progress is made
The Chinese National Bank is making good progress in testing the digital yuan. The idea of a digital currency has existed in China since 2013 and the existence of this currency has now been confirmed for the first time. Previously, some pictures had been shared on social networks and the bank announced that it was just a test.Regional reports now show that 19 popular stores and restaurants in China will test the digital currency. Various legislators are also experimenting with the digital yuan, and rumors are that government officials may soon be paid for the new currency.The petrodollar will have its day in the near future because less and less oil can be extracted and other raw materials are now more important. China is becoming a financial superpower, and Russia could benefit from it because both countries keep exchanging oil for other commodities and currencies. The digital yuan will support China in this way, and its tremendous economic strength will have an impact on global political and cultural life.