Author note: This piece was initially published in the premium edition of Fintech Today on May 25th, 2021. The information included in this essay has not been updated since and may not be up-to-date. After reading this piece by Lyn Alden on the US’ fraying petrodollar system and this CNAS report analyzing China’s development of a digital dollar, I noticed some interesting connections between the two subjects and wanted to dive in deeper. Centralized bank digital currencies- labeled by some as...

Author note: This piece was initially published in the premium edition of Fintech Today on May 25th, 2021. The information included in this essay has not been updated since and may not be up-to-date. After reading this piece by Lyn Alden on the US’ fraying petrodollar system and this CNAS report analyzing China’s development of a digital dollar, I noticed some interesting connections between the two subjects and wanted to dive in deeper. Centralized bank digital currencies- labeled by some as...