Digital Currency and Its Implications

What was unique about the early forms of currency in ancient China?

• They were used only by royalty.

• They were shaped like shells and tools.

• They were made of gold.

• They were digital.

Why did China take the lead in creating a state-backed digital currency?

• They lacked a credit-card based payment infrastructure.

• They wanted to compete with Bitcoin.

• They were the first to invent currency.

• They wanted to eliminate cash entirely.

What is a key difference between the digital yuan and cryptocurrencies like Bitcoin?

• The digital yuan is tied to the value of the physical yuan.

• Bitcoin is more stable than the digital yuan.

• The digital yuan is not backed by the state.

• Bitcoin is widely accepted by governments.

What is a major privacy concern with the digital yuan?

• It is more expensive to use than cash.

• It is not encrypted.

• The government can track all transactions.

• It is not accepted by any companies.

What is the predicted future of cash according to the video?

• Cash will become illegal.

• Cash will remain alongside digital currency for some time.

• Cash will only be used in China.

• Cash will disappear immediately.