Comments by "Kevin Street" (@Kevin_Street) on "Why China's Digital Currency Doesn't Matter" video.

  1. Thank you for this new video! So the key points: - The digital Yuan is not cryptocurrency. It's almost the opposite, since it's designed to be trackable and controllable. - The renminbi can't be a truly "international" currency (that is a true competitor to the USD, bought and sold without hesitation all around the world) until the Chinese government removes capital controls and lets the currency's exchange rate "float" freely. It's that last point that interests me the most, as an ordinary person and non-economist. I'm curious how the Chinese government controls the value of its currency.
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  2. I was just summarizing what I learned in the video. I've no personal opinion on these matters one way or another. But yes, true cryptocurrency would be better than the digital Yuan proposed by the Chinese government. You can look on the blockchain to see after the fact which wallets gave or received crypto, but it isn't immediately and intimately trackable the way this Yuan would be. The digital Yuan would be linked to citizen's social credit scores and could be used to track people as soon as they used it.
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