How can the Renminbi replace the hegemony of the US dollar? A once-in-a-lifetime opportunity has emerged, and it is a historical inevitability! The hegemony of the US dollar was not built in a day, but its foundation is quietly being pried away. For decades, the reason the US dollar has been able to firmly hold the top position in global currencies is one of the core logics of the 'petroleum-dollar' system: over 80% of global oil trade is settled in US dollars, and countries have to reserve US dollars to buy oil, thus forming a deep dependence on the dollar. But now, I feel that a new variable has appeared — that is: electricity. Just look at the report released by the International Energy Agency (IEA) in 2024, and you will see that global electricity consumption has grown by nearly 35% in the past decade, while the share of renewable energy generation has jumped from 23% in 2015 to 38% in 2024. More importantly, China occupies an absolute dominant position in this field. By the end of 2024, China's wind power and photovoltaic installed capacity will reach 430 gigawatts and 650 gigawatts, respectively, accounting for nearly 40% of the global total. Even more critically, China is the only country in the world with the full industrial chain capability for ultra-high voltage transmission technology. What is ultra-high voltage? Simply put, it is the ability to efficiently and low-loss transmit electricity from thousands of kilometers away to another country or even continent. Currently, China has built 35 ultra-high voltage lines, with a total length exceeding 48,000 kilometers. I feel that a concept of a 'global energy internet' is vaguely emerging, where China can connect Asia, Europe, and Africa through cross-border power grids. For example, the China-Pakistan Economic Corridor has planned to transmit clean electricity from Xinjiang to Pakistan; China has already achieved grid interconnection with Laos, Vietnam, Myanmar, and other countries; even in Africa, the ±500 kV DC transmission project between Ethiopia and Kenya built by Chinese companies has been put into operation in 2023. In 2023, China and Brazil reached the first power equipment export agreement settled in local currency, amounting to 2.8 billion US dollars; in 2024, Saudi Arabia and China's State Grid signed a memorandum of cooperation to explore the use of Renminbi settlement in new energy projects; the same year, seven of the ten ASEAN countries signed bilateral local currency swap agreements with China, totaling over 1.2 trillion Renminbi. Even more noteworthy is that in 2024, the share of the Renminbi in global payments has risen to 4.7%, a record high, and this proportion is even higher in cross-border electricity trade and green finance. Just as oil supported the hegemony of the dollar in the 20th century, electricity in the 21st century may very well become the core carrier for the Renminbi to go global. $BNB $BTC $ETH