China and Russia Building Bitcoin-Inspired Payment System to Challenge Dollar Dominance

Bitcoin, ethereum, XRP, and crypto prices have exploded back into the limelight amid fears of a U.S. dollar crisis
China and Russia are creating a payment system inspired by bitcoin and blockchain technology
The system is meant to reduce reliance on the U.S. dollar and Swift payment network
China has also been rolling out a digital yuan to control domestic money flow and compete globally
One economist warns the digital payment system could be "more dangerous for American hegemony than nuclear weapons"