The problem here with all these ruminations about digital currencies and cryptocurrencies and blockchain is one that seems to be nearly universal in the space: they are just words to somehow sound like something important is being said.

China's BSN is the perfect nightmare for all the decentralization ideologues. And, further, as was very lightly skipped over was the mention of its use for comprehensive social control.

And this:
“(Granted, it will be the adoption of a closed, restricted, localized, controlled, censorable cryptocurrency issued by the People’s Bank of China…but adoption is adoption, right?)”

This is fairly typical for the milieu: even if total evil prevails, a cryptocurrency is still a positive outcome.

Now, why are words just words for folks in the space. Consider this:

Cryptocurrency is not the same as a national digital currency. But here the view seems to be if it’s not a “cryptocurrency” it’s no good as a national digital currency. Why is that? Who knows. Same with “blockchain”. You know it’s got to have a blockchain, right? After all, something completely and permanently technically non-scalable and a constraint on a $20T economy in need of stimulus after a pandemic puts it back on heels that haven’t been seen in its entire history is exactly the thing needed to get things done, right?

You want to laugh, but it’s not funny.

And the watch-out-for-this, USA-sans-Blockchain, the Yuan is a threat is another crypto-barker head-dunk in the sand: Yes, exactly what the world is clamoring for: control of the global reserve currency by a corrupt opaque communist government with only power as a principle.