for those still following crypto, China's e-CNY payment system - their panic response to Facebook's Libra - has *pivoted* to being for commercial banks to trade between themselves
https://finance.sina.com.cn/roll/2025-12-29/doc-inhemqas8008548.shtml
this is the system that ended up being tenpay/alipay but without a point
it's also a "mixed blockchain architecture", which i think means a mix between (a) talking about it and (b) not actually using it
@davidgerard
When you say trade between themselves, does that mean, they simply speculate on what other banks are going to pay for this digital tulip?