Expert: China's Digital Yuan Will Target the Dollar, Not Bitcoin
Cointelegraph
Published Jul 06, 2020 06:15AM ET
Updated Jul 06, 2020 08:00AM ET
Having learned what it needs from the cryptocurrency space and blockchain, China will aim to rival the U.S. dollar, not Bitcoin (BTC), with its highly-anticipated digital yuan.
Matthew Graham (NYSE:GHM), a veteran investment banker in China and the CEO of Beijing-based Sino Global Capital — analyzed what is known so far about the forthcoming digital currency and argued that the Chinese government sees new technologies as a “leapfrog opportunity” to chip away at the dollar’s hegemony.
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Written By: Cointelegraph
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