On Digital Currency and the Transfer of World Wealth and Technology Centers

TL;DR

This paper discusses how digital currency could serve as a new form of wealth to promote technological progress and social development amid global economic changes and wealth distribution challenges.

Contribution

It explores the potential of digital currency as a modern wealth form that can enhance technological and social development, especially in China's context.

Findings

Digital currency may serve as an effective carrier of value.

Wealth distribution inequalities threaten sustainability of traditional financial instruments.

China's strategic focus on digital currency can foster technological and social growth.

Abstract

The emergence and transfer of wealth promote the evolution of civilizations. Through the pursuit of the form of wealth valued by the members of society, the self-assertiveness demands of a society can be met and thus stimulate creativity. As means of overdrawing the future, sovereign currency and bonds have gradually become modern forms of wealth and have strongly promoted scientific and technological progress and social development. However, due to the unequal distribution of wealth, the sustainability of sovereign currency and bonds is not certain. The world has been changing rapidly since the outbreak of COVID-19, and new forms of wealth need to be constructed as an extension of the Self of the masses, among which digital currency may be an effective carrier of value. China is on an upward trajectory, and the complex and volatile global environment can provide an opportunity for China to focus on developing aspects of its science and technology, optimize its system of governance and strengthen its internal driving force.