What will happen with all "the printed dollars" when the yuan will become the currency oil shall be priced in?
Obviously, it will return to the shore of the USA and a tsunami of inflation will ensue.
But that will only benefit the issuers of such currencies, while we the plebs will become slaves of a system that can shut down or freeze our funds at any time based on bad behavior reasoning or whatever shit they can come up with.
My gut instinct says we will somehow return to barter trading in some form or the other at least locally.
Just a question in the context of CBDC or digital currency, what will happen to a town or a region that suffers a power outage or gets disconnected for some days due to natural calamity? Physical asset is still needed at some point no matter how sophisticated we evolve technologically.
Physical assets will hold their value for sure but I see no way in using them as exchange currency in purported situations like the one you exemplified.