Bitcoin has become a tool for Americans to harvest wealth from around the world. China must immediately launch its own cryptocurrency, issuing it in large quantities to hedge against the impact of Bitcoin. As long as this cryptocurrency is sufficiently abundant, it will create a wealth-making effect that will destroy the belief in Bitcoin.
The popularity of Bitcoin in the United States has made many people see its potential as a wealth harvesting machine. This statement is not unfounded; Bitcoin's volatility is immense, easily leading to rapid wealth transfer. In the face of this situation, China needs to respond actively to avoid passive suffering.
Launching an independent cryptocurrency is not just to combat Bitcoin; more importantly, it is to build an independent, secure, and controllable digital financial system. This requires careful planning and steady progress, without haste. Blindly issuing a large amount could instead lead to currency devaluation, resulting in the opposite effect.
The key is that the design concept and application scenarios of this cryptocurrency must align with China's national conditions and possess genuine practical value, rather than being purely for speculation. It needs to provide more convenient, safer, and more efficient services in areas such as payments, settlements, and asset management compared to existing systems. Only in this way can it attract users, form a virtuous cycle, and ultimately enhance its competitiveness in the international market.
Currently, the pilot work of the digital renminbi icon is steadily advancing, laying a solid foundation for the future development of China's digital currency. The next step is to strengthen technological research and development, improve regulatory mechanisms, prevent risks, and ensure the healthy development of digital currency. It is also necessary to enhance international cooperation, actively participate in global digital currency governance, and safeguard China's interests in the digital economy. The ultimate goal is to establish a safe and reliable digital financial ecosystem that allows digital currency to truly serve the real economy. So far, the progress of the digital renminbi is promising and worth looking forward to.
