China to start tracking every transaction made by citizens with new cyber yuan. Will the Federal reserve soon follow suit?

To add to the vast tightening grip of chinese authoritarianism over it's citizens china now will track what citizens spend their money on. This crypto yuan will surely be used to impact citizens social scores that china gives it's people. These scores are much like credit scores here but they can be lowered if say you read a news article from anywhere other than the CCP ministry of propaganda or on the whim of a government official which can greatly impact their
social and financial lives along with ability to work and pay bills. The federal reserve is watching closely and there are talks about the US doing something similar but hopefully citizens here with resist and fight the overreach of government power and work to keep our rights to privacy.

China’s version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China’s government vast new tools to monitor both its economy and its people. By design, the digital yuan will negate one of bitcoin’s major draws: anonymity for the user.

Beijing is also positioning the digital yuan for international use and designing it to be untethered to the global financial system, where the U.S. dollar has been king since World War II. China is embracing digitization in many forms, including money, in a bid to gain more centralized control while getting a head start on technologies of the future that it regards as up for grabs.

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