But will Metcalfe’s Law kick in with the Digital Yuan over time?
The Yuan has a long way to go from its current 2.5% share.
But if Chinese digital superplatforms ever gain traction in the developing world, it would be relatively easy to swap the means of exchange on the platforms, especially if it offers superior purchasing power retention.
Pushing Digital Yuan as part of both physical and digital One Belt, One Road efforts make sense.
Perhaps the future is a battle between relative value propositions but with far lower switching costs than the Cold War.
Apple versus Android, Dollar versus Yuan.
Ultimately, it is the US’s game to lose far more than it is China’s game to win.
But complacency kills.
Especially when it falls beneath the velocity threshold of general population detection.