Finally I can get my official Xi-bucks
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.
Still don’t understand the need.
That’s how 99% of money already is. Most transactions are also handled digitally even if there’s physical currency.