The news of the born of Digital Coin Electronic Pay (DCEP) as a cryptocurrency has aroused the illusion of the anti-system world to think that the time has come for the great financial revolution, although they may be disappointed sooner rather than later.
China, has developed the electronic currency that will replace the Yuan’s paper system. But logically, DCEP may end up adopting the same Yuan nomenclature to make it easier when placing product prices on the market, as the acronym, nor in its own language, does not help its communication.
The DCEP will be regulated by the Central Bank of China and the international interbank system, because the government itself cannot allow the free movement of the currency without due control of it. In fact, cryptocurrency as such, allows a better tracking of payments and transactions, if you will, than paper currency, hence the tendency of all countries to digitize the currency and make the paper currency disappear.
With this moviment, China intends to lead the transformation of the financial system, at a time when it has already become the leader of the financial system, being able to transform all its dollar reserves into its own currency, thus eliminating the great problem that this pandemic is presenting for them.
At the same time, the Chinese government, once launched for international financial conquest, intends that the gold reference be the basis of the international financial structure, returning to the origins and dynamiting the last missing element of the Industrial Age, breaking with the oil value.
Obviously, this step can weaken American financial foundations, putting back into check the American economy to which China will come to support, given that it is the first interested in the non-unbalanced international system, so that to the disgrace of the anti-Americans, the DCEP will not end the imperialist hegemony of the world’s most broken country.
Why its coverage is very simple; if China strengthens its currency against the dollar, euro, pound or any other currency it will lose the essence of its economic control, that is, the true competitiveness that keeps it at the forefront of the industrial world, its competitiveness in costs. The growth or empowerment of its currency with the weakening of the rest of the currencies would create a lack of competitiveness that the Asian country cannot afford, in fact, every time the dollar has struggled, it has been China that has gone to its rescue. All you’re doing is getting on the head of coins so you don’t stay out, and even more so, allowing your currency to be an option for many countries to dollarization or eurization. The only problem with the adoption of this currency is that you are subject to the socialist national criteria of your government and not the free market.
For the most skeptical and lovers of government conspiracies, the new currency, unlike what is being communicated in all media, will allow a much more efficient tracking and traceability of its management since all the information can be recorded in the code.
For those who think it’s time for Swift’s disappearance, they’re wrong, since Swift simply allowed for more accurate control over transactions. Now, the Swift system will be able to build a system in Blockchain mode and maintain more effective control of all operations. Will it be faster? Since the problem is not the Swift system, but the banking control system that slows down a process that was currently required to make it instantaneous with the SEPA system but which the bank itself has been responsible for permanently dynamiting.
Obviously it will be cleaner and much more transparent, i.e. no one will be safe from government controls and transactions can be fully evaluated by international control systems, including Interpol, EDF or the Chinese government itself.
Anyone who pretends to think that the tax evasion system appeared is wrong, and drug trafficking and illicit activities will have to find other avenues for the generation of funds without control and registration. The movement of money internationally will be fully regulated as “wallets” will record their location, so governments can control the transfers of funds that are made in the movements and limit them if they want or need.
The DCEP system is the first real-world cryptocurrency system, controlled by global systems and under international standards, making it simply another disappointment for libertarians.
In my previous articles I have already reported that changes in the pandemic would affect, among other issues, the digitization of coins on the pretext that paper money was a source of contagion, and so it is happening. But let’s remember that the currency has simply been digitized, within the process is the total digitization of the individual with the identification of it through DNA instead of the fingerprint as it was done to date, and that is also prepared and its law drafted. These controls help the system have more information from all of us and not create avenues of freedom.
China simply dropped the bomb that would initialize the change, and they themselves are leading the changes given the regime established in the country, but the rest of the countries, of all those called the free world are taking the same political, financial and finally social control measures as China, ending the revolution of global change from the Industrial Age to the Age of Services , although I doubt that Alvin Toffler had in his economic thinking this end of revolution. In this it must be said that George Orwell was more visionary.