A continuation of my blog on Digital Dollar and CBDCs (Mar 2021). Conflict in the Ukraine and the economic sanctions on Russia, central banks and payment systems have created a “weaponization” of the USD. As a result, I see the China’s digital yuan taking off in next 18 months beginning with energy related payments with the middle east. While not impacting consumer payment networks, the shift will substantially impact USD hegemony and ability to impair funds flow of participating markets and geographies.
I doubt if this blog will be beneficial for the crypto and CDBC experts. But for my friends, I’ve linked several very detailed articles and reports… which I’ve tried to summarize.
With respect to payments, let me start with the quote of the week
“Tom look at the pace of change in China as a model. 15 yrs ago they were cash. 7 yrs ago they were China Union Pay, Now they are Alipay/WeChat Pay.. 3 tremendous changes in 10 yrs. I believe change will happen much faster than anyone could imagine.”
– Top 5 US Retailer