AJ: The CBI hasn’t explained or given guidance on what happens to paper currency outside Iraq when they go digital. , 18 MARCH

 AJ

Good morning, everyone! My inbox has been flooded with questions about the latest CBDC article y’all are fired up! We’ve known the CBI was gearing up to go digital, but here’s the twist that might give you chills: this could be the last thing you want for this investment. No cash, replaced with a CBDC—digital wallets tied straight to the CBI, no banks needed, and they’re planning to phase out cash—meaning no more lower denomination notes. Reading this gave me a pit in my stomach, like a total nightmare scenario for us holding physical dinars! Let’s start with the good news. You know I’ve been hammering this point for months—heck, all of last year—to my followers: Iraq has to end that parallel market (1,500 IQD/USD vs. the official 1,320) and unify the rate before any revaluation (RV) can happen. And guess what? Mustafa Mohammed, financial and banking affairs adviser to the prime minister, backs me up, saying the official exchange rate will be the only game in town as the digital rate—official rate 1,320 IQD/USD. That’s a huge step toward RV. The digital dinar will be an electronic currency issued by the CBI as an official part of the country's monetary system CBDC. 

It will hold the same value as traditional currency but will be traded electronically through CBDC digital wallets or authorised financial applications and would see the country move away from US control of the Central Bank of Iraq, which it has held a controlling stake in since the US invasion of 2003 But here’s the gut punch: the CBI hasn’t explained or given guidance on what happens to paper currency outside Iraq when they go digital.

That’s a massive question mark for us dinar holders abroad. The lack of clarity on legal residency for CBDC wallets is a big deal—global trends suggest you will need a local ID (like Nigeria’s BVN), but China’s Olympic exception shows flexibility is possible. During the 2022 Beijing Winter Olympics, China let foreigners use e-CNY CBDC wallet without residency or a local bank account—it was temporary. 

Iraq could do the same for a post-RV window, but without confirmation, we’re in the dark. With 11 countries already using CBDC, let’s look at five playbooks. Interestingly, they all still use paper currency alongside their CBDC digital versions. Here are the top five: The Bahamas (Sand Dollar) Launch: October 2020 Timeline: Over 4 years (since 2020), with 50%+ adult adoption by 2023. Pilots started in 2019. Notes: Focused on financial inclusion for remote islands, but cash (BSD) remains legal—only 30–40% of transactions are digital. Slow adoption reflects tech and trust challenges. Jamaica (Jam-Dex) Launch: March 2022 Timeline: About 3 years (pilots from 2019, full rollout 2022), with 100,000 users (2.5% of 4 million) by 2023. Notes: Cash (JMD) still dominates—digital’s a supplement, not a replacement, suggesting a gradual shift rather than a cash kill. Nigeria (eNaira) Launch: October 2021 Timeline: Over 3.5 years (pilots from late 2020), but adoption’s under 1%. Notes: Naira cash is 80%+ of transactions—eNaira struggles due to tech issues and low trust, hinting at overoptimistic rollout claims. Requires a local BVN ID for wallets. China (e-CNY) Launch: Pilot in 2019, no full nationwide launch yet (as of 2025). Timeline: 6+ years in development, with 261 million users (18% of 1.4 billion) by 2023, 7 trillion yuan ($986 billion) in transactions by June 2024. Notes: Yuan cash persists—e-CNY’s a layer, not a cash killer, due to rural gaps and privacy pushback. Olympics trial showed flexibility for foreigners, but domestic use needs a local ID. Eastern Caribbean Currency Union (ECDU - DCash) Launch: March 2021 (8 islands: Antigua, Grenada, etc.) Timeline: Over 4 years (pilots from 2019), with limited adoption—offline issues hit in 2022. Notes: Cash (XCD) still widely used—DCash’s 2-month outage in 2022 shows tech fragility, questioning reliability. Thank God Trump stopped the CBDC in the U.S.! They are 100% globalist control over humanity. If you’re doing the happy dance over this, you are dumb as fu@k. FOOTNOTE; This is not a crypto wallet -- Economic expert Ziyad Al-Hashimi pointed out significant differences between digital currencies and cryptocurrencies:

'The former are issued and regulated by central banks like the digital dollar and digital dirham, while cryptocurrencies such as Bitcoin are not subject to any official authority and their value depends on supply and demand, making them highly volatile.' 

BTW: the CBI banned all crypto's in 2017 in Irraq.