While governments, particularly in the US, are freaking out about Bitcoin (BTC), Ethereum (ETH) and crypto in general, the Chinese government is making some attempts to replace the US Dollar with Chinese Yuan in international transactions. According to RFI:
Chinese and French energy companies this week finalised the first-ever deal on liquified natural gas (LNG) in China settled in the renminbi yuan currency. The trade, involving 65,000 tons of LNG imported from the United Arab Emirates, marks a major step in Beijing's attempts to undermine the US dollar as universal "petrodollar" for gas and oil trade.
This latest event shows that the main competitors to Dollar are not yet cryptos, but the other fiat currencies... That being said, we can dream of a future where petrodollars will be replaced by petrobitcoins or petroeth... That day, Dollar will be really dead.
Disclaimer: this article does not contain any financial advice. The information is provided for general informational and educational purposes only.
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