I'm not sure how to begin ... I found this community but there doesn't seem to be any posts yet. If people would like I can talk about some of the ways I earn free crypto which can then be used to help support life.
I currently live in China although as an expat I have not been able to register for the new digital yuan. From my experience so far though I think the Chinese will embrace it when it is finally implemented. Cash is rarely used as it is now. We mainly use 2 apps - WeChat and Alipay to pay for everything- from groceries to subway tickets to haircuts to petrol. Everything can be paid for using these 2 apps throughout the country. The only problem that I could envisage is those remote areas which do not have internet access . Unfortunately I have no idea how much of the country does not have internet access as this is something that is not really discussed.
My concern about the digital yuan is the control that it gives to the government. The concept of privacy is not really established here with your passport or id card having to be linked to your Alipay and wechat accounts so the government can easily tell what you spend your money on anyway. What I am worried about is that the government could in theory decide how long the token is valid for- forcing people to spend it or being able to block it from being spent. At least with paper money you can still use it everywhere but there may come a time when cash is no longer accepted and then the government will have complete control on what you spend.
Please let me know if there is anything you would like me to talk about - happy to add to the community!
