Creating digital RMB coin is challenging and likely to be stillborn

Creating digital RMB coin is challenging and likely to be stillborn Abstract: The security of the digital RMB simply cannot be guaranteed. Technology is constantly advancing, and once a faulty layer is formed in the digital RMB coin, biological and quantum computer will break its security and deem the RMB digital currency untenable. This is further impacted by the United States passing the chip bill recently, thereby by starting the technology decoupling with China will cripple the technological capability of security in RMB digital currency.

A global economic crisis will result from inflation and issuing excessive fiat currency as money is a tool to extort hard earned money from the workers. This was demonstrated by the RMB in China having face values of 10,000 yuan and 10 yuan, respectively in the 1950s and 1960s as a tool to stabilize the Chinese financial market in the early years of the Communist Party resulting in the surrender of private wealth of 1,000-fold. With the long period of circulation on 100 RMB dollar bills, the inflation will devalue it to over ten plus times. It’s like seeing the rise and fall of the 100-RMB bill. Kuomintang issued gold coins to scavenge wealth after it was defeated and retreated to Taiwan. By releasing digital RMB (gross) coins, the Chinese Communist Party will now repeat the same error as Kuomintang.

The CCP’s primary strategy for boosting the real estate industry is by printing more money. Printing money to boost real estate market is futile under the current waves of property depressions, the impending financial crisis and the economy suffering from the everlasting pandemic disruptions. The CCP would replace the RMB with digital RMB coins, almost created at no cost, which carries a high risk of depreciation and likely to become worthless.