This is not decentralization, but centralization. If fully rolled out, corruption will be fundamentally limited.
This. This will make corruption and crime more difficult. If rolled out slowly enough, it wouldn’t increase sex trafficking and lopsided quid pro quo agreements during the transition to a fully digital currency.
I always wonder how much of US currency is used for illicit transactions. You hear stories of storage containers full of US currency and you can never really gauge how much currency is actually in circulation. China may be able to fine tune inflation with monetary policy using actual data instead of just guessing.
Oh god. Is it produced in the same environmentally destructive way as crypto?
No, it’s a centralized digital currency so it doesn’t need to be mined by users.
Someone tell me the difference btw Digital and Crypto
Pretty sure most crypto needs to be mined by users which is what causes the immense energy costs, also the decentralization creates massive problems for average use that prevents practical adoption of crypto, while a digital currency controlled by a central force is probably just currency that isnt produced in a physical form, I guess.
