#CryptoCPIWatch dollars have gone -----

The People's Bank of China has suddenly announced that the digital Renminbi, or Chinese Yuan (the digital RMB / Renminbi, Chinese Yuan), has been fully connected to the cross-border settlement system of ten ASEAN countries and six Middle Eastern countries. This means that 38% of the world's trade volume will now enter the 'Digital Yuan era' by bypassing the SWIFT system dominated by the US dollar. This financial war, which The Economist has called the 'first battle of the Bretton Woods System 2.0', is changing the fundamental structure of the global economy through blockchain technology.

While the SWIFT system still incurs delays of 3 to 5 days in cross-border payments, the digital currency bridge developed by China has limited the clearing speed to just 7 seconds. In the first experiment between Hong Kong and Abu Dhabi, a company made a payment to a Middle Eastern supplier using the digital Yuan. The funds were received directly through a distributed ledger instead of passing through six different banks, resulting in a reduction of fees by up to 98%. This 'lightning-fast payment' capability has instantly rendered the traditional system under the influence of the US dollar obsolete.