Comments by "Aristocles Athenaioi" (@aristoclesathenaioi4939) on "Is Xi Jinping’s anti-corruption campaign driving China’s digital currency?" video.

  1. When will all cash transactions be expected to end? To do that people must be forced to exchange cash for digital RMB before they can spend that money? I do not see this going well for the CCP. I can scarcely imagine any country could do that without without serious social disruptions. This is going to be a real serious "watch this space for future developments" situation.
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  2. However, this is not crypto currency in the sense that Bitcoin is. In the case of Chinese digital money, the amount of money in circulation is decided on by a Central Bank, in this case The Bank of China. This is just a digital form on the existing RMB. Same as if the US Department of Treasury decided to switch from paper dollars to digital dollars. In a sense all printed currency is digital because they have serial numbers on them. If a dollar is ripped in half or even partially burned, as long as you have the two parts of the dollar bill with serial numbers on it then you can go to a bank and exchange them for an undamaged printed dollar bill. So even the US has a digital currency.
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