Yes, you read that correctly. China began developing its digital currency back in 2014, and in April of last year, the People’s Bank of China confirmed that electronic payments are being tested in 4 Chinese regions.
That’s not all, Their new digital currency is backed by gold.
February 2021 China confirmed it has expanded testing to Beijing and Shanghai.
Reuters reported that China would implement its digital currency system before the 2022 Beijing Winter Olympics. They are well ahead of schedule.
And get this, Since testing begun:
- China’s digital currency has been used in 3.13 Million transactions worth 1.1 billion Yuan so far
- 113,300 personal digital wallets and 8,800 corporate digital wallets created by their central bank
- And every transaction is monitored – ZERO Privacy.
But that is just the beginning. Crude Oil is purchased using petrodollars. (U.S Dollars)
These 8 countries have dropped using the U.S Dollar for the new Chinese petro cryptocurrency:
- Russia
- Saudi Arabia
- Angola
- Iraq
- Iran
- Brazil
- Venezuela
- and the United Arab Emirates
The Yuan is now the first major global currency to become digitized… and it’s backed by gold.
source:FlagAndCross.com
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