Alternative systems.

News & Politics
1

I have seen alot of arguments that sijui ooh China is taking over juu Russia have been kicked out, ati sijui ooh China would replace Western companies pale Moscow and all that BS but one thing people tend to forget is that the Western and West-centric control a huge chunk of the global economy that not even China can dislodge them the way y’all are deluded into thinking.

Even that China y’all keep praising is heavily dependent on the West and if the West pulls out and/or sanctions it, it would go down (not as badly as Russia though).

Tukikuja sector ya alternative systems, hapa ndio watu wanadisplay their naivety kabisa. Okay Russia has switched to another system, would the employers, contractors or buyers agree to use it? Obviously no. It’s like buying wheels na hauna gari, totally useless.

Watu wa online writing na Remote work wanajua this very well. 90% of their clients come from those western countries and they would Obviously use their homemade systems rather than some some shady Chinese alternative. Hata @Sambamba akipeddle his code pale Western Europe he is paid in hard cold Euros/Pounds through SWIFT or IBAN and not in Rubles/Yuans. He would then proceed to use the cash through his Visa/Mastercard, pay for his Web hosting in Miami, pay for his Facebook Ads and other shenanigans and then unataka kuniambia atachukua downgrade juu anasupport Shaina, lmao :D:D. Nefa, ûcíò nî ngõmã

Sambamba knows that China’s, Yuan-Renminbi is a fine medium of exchange but it’s problem is that China is an authoritarian mercantilist state with weak property rights so their currency is a poor store of value & unit of account compared to $ € £ hence not a viable option

2

wacha nikae nikingoja chokosh wars

3

Too much Rusungu.

4

Seems you’ve never heard of a system that’s been talked about for more than 10 years that is meant to deal with all o dat. Inaitwa cryptocurrency, google it.

5

Facts is what we need not assumptions, and yes many countries are considering using the new system, including the biggest economy in the world, China

6

Unionpay is used even here in the US, hadi Vumbistan niliona iko, shocking? Absolutely not.

7

With the frequent rugpulls, complex UI/UX, high volatility among other myriad of issues, I doubt it can replace fiat.

8

Russia, china , india will start using their own system soon

9

[SIZE=7]Russian banks switch to Chinese UnionPay[/SIZE]

On Sunday, several Russian banks announced plans to start issuing cards using the Chinese UnionPay card operator system.

The step, which came shortly after Mastercard and Visa pledged to cease operations in Russia and disconnect all the country’s banks from their payment systems, will enable the holders of new cards to use them for paying and withdrawing cash abroad.

On Saturday, international financial service providers Visa and Mastercard said they would suspend operations in Russia within the next several days due to the latest Western sanctions related to Moscow’s ongoing war in Ukraine. The drastic step makes the use of cards issued in Russia outside the country implausible. Likewise, cards that were issued outside of Russia will stop working in Russia.

Visa and Mastercard are the latest international brands taking harsh moves towards Russia over the Ukrainian conflict. Earlier, companies such as PayPal, Netflix, Intel, Inditex, Airbnb and Rolls Royce announced they were leaving the country’s market.

Russian banks, including Sberbank, Russia’s biggest lender, as well as Alfa Bank and Tinkoff issued announcements regarding the switch to UnionPay due to the latest developments. Some of Russia’s banks, like Pochta Bank, Gazprombank, Promsvyazbank, Sovcombank and several other minor banks had been previously working with the UnionPay card operator’s system.

UnionPay, an international payment system founded in 2002, received international status in 2005. Headquartered in Shanghai, the company reportedly operates in more than 180 countries across the globe, including Switzerland, Greece, Italy, Spain, Germany, Mexico, Cyprus, Thailand, India, Israel, Portugal, Croatia, Poland, Serbia, Hungary and Austria.

Source: https://www.rt.com/business/551352-russia-banks-china-union-pay/

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10

Union Pay ni kitu ya kitambo sana. I have used it both in Kenya and USA. Can’t be compared to Visa and Mastercard

11

Good, pesa itatoka wapi? Remember it would be mainly for export and import and other governmental shenanigans. Wale wenye wanafanya remote work online huwa wanategemea western clientele which they are now cut off. Zero work. Ama unadhani Russia wataenda kutafuta remote job kwa watu wenye Choo ni shida:D?

12

Forget about the upus written here, why would an African be against the emergence of alternative trading and financial systems?

@Aka mpole are you?

13

I am not against the emergence of an alternative system. Infact I am great supporter of a multipolar world order. Would give Africans more options rather than the West and West alone.

14

Good. That’s the only conversation we should be having because the rest is noise.

You notice that the West is applying sanctions selectively. They are continuing to buy Russian oil and gas but they don’t want us to send our tea to Moscow. We lost 10 billion shillings this week.

15

Wazungu mnarudi hapa very soon:
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