/biz/ - Business & Finance

>>22060336
>>22060827
This is a machine translation from a Chinese forum about the digital RMB
I doubt its anything new but here ya go

>>21969331
>digital yuan
speaking of their digital currency I pulled this of a Chinese form a few months ago about their rollout. Its machine translates but still a little bit interesting for those who care

>>21314701
>I lived as an adult through the financial crisis and the gold/silver bull run of that time and what was said was EXACTLY THE SAME. It doesn't pan out. Eventually the fear just kinda passed.
You might want to look up the concept of normalcy bias because you are suffering from it.
All fiat goes to zero eventually. Maybe it happens this time maybe next time but it will happen.
Beyond that they are going to push for a digital currency sooner or later and when they do what better way to drive support for it than by backing it in gold/silver.
You could always remove that backing later like they did with the dollar but the use of the metals will give immediate legitimacy and weight to the digital currency.
Even if fiat does not fuck itself this time they may decide to get ahead of the eventual collapse and roll out an all digital or digital/pm hybrid system regardless .
China is already testing the digital RMB

>>20993872
I don't know about that but maybe precious metal backed cryptocurrency hybrid system I could see.
basically the scarcity determined by the PM instead of mining but the electronic ledger and transactions instead of having to carry the metal around.
Although China is now testing their digital RMB so who knows