By Michael Patrick, Ph.D.
Bù yí nuò sī dí yà sī
In other words, Good morning!
No surprise, China is holding the lead in the world’s great digital currency races.
Next Monday, June 14th, keep your eye on China. During the colorful Dragon Boat Festival, China will sprint forward in the worldwide effort to convert to digital currency. They will give away a ¥200 yuan digital RMB red envelope to 6.2 million people in a lottery system, following earlier smaller giveaways.
While in China, I rarely used paper money. Most transactions, from street merchants to vending machines to monthly bills, were done via my phone.
As the new progressive American government prints up trillions of dollars for its increasingly dependent populations, they might speed up present efforts to shift to global digital currencies. After all, secure digital currencies are so much easier to track and control than those old dead white presidents on paper dollars, aren’t they?
Here’s one of several articles that help explain what’s coming to your buying and selling habits faster than you might think.