State-media outlet China Daily said it had been formally adopted into the cities’ monetary systems, with some government employees and public servants to receive their salaries in the digital currency from May.
Sina News said the currency would be used to subsidize transport in Suzhou, but in Xiong’an the trial primarily focused on food and retail.
Digital payment platforms are already widespread in China, namely Alipay, owned by Alibaba’s Ant Financial, and WeChat Pay, owned by Tencent, but they do not replace existing currency.
Whenever the status quo is seen as a failure, the architects of society will rarely allow the whole show to come to a grinding halt, for fear that new and non-centrally controlled organic systems of organization will emerge.
The ruling establishment will spare no opportunity to tell society this, over and over, making people truly believe that it is in their best interest to adopt whatever alternative is handed down to them. This is why, when faced with a crisis, society will almost always seek to implement a parallel alternative, rather than rethink the whole system.
It has long been the dream of collectivists and technocratic elites to eliminate the semi-unregulated cash economy and black markets in order to maximize taxation and to fully control markets.
Among the long list of items bundled by consensus reality merchants under the banner of ‘conspiracy theory’, is a world without cash. If the cashless society is ushered in, they will have near complete control over the lives of individual people.
Four years ago, the idea of the cashless society was floated in business journals along with proposals of governments providing basic income incentive checks to build the economy.
Well here we are in 2020 and the checks have already been cashed – the government holds incentive checks over the heads of the poor and we are all getting a taste of what it is like to live in a socialist country.