China launch digital Yuan to “help the world”

Is this the first shot of the coming digital currency wars of the 2020’s?

See David Lee from Singapore University of social sciences in the video (from 05:10).

BEIJING, Dec. 28 (Xinhua) — Imagine a digital currency that can be used even without the internet, one that does not have to be linked to a bank account and is treated just as bank notes and coins.

China’s digital yuan, although still being piloted, promises to include more people in this fast-developing digital era, making daily life easier and digital payment more secure.

Source: Xinhua

Meanwhile Bitcoin is booming in the West due to lacking trust in traditional currencies and increased institutionalized adoption.