China Creates Its Own Digital Currency

https://www.wsj.com/articles/china-creates-its-own-digital-currency-a-first-for-major-economy-11617634118

"China’s version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China’s government vast new tools to monitor both its economy and its people. By design, the digital yuan will negate one of bitcoin’s major draws: anonymity for the user."

"Beijing is also positioning the digital yuan for international use and designing it to be untethered to the global financial system, where the U.S. dollar has been king since World War II. China is embracing digitization in many forms, including money, in a bid to gain more centralized control while getting a head start on technologies of the future that it regards as up for grabs."

[My opinion]

What does it mean to be "untethered to the global financial system"? [Is there a better way of wording that phrase too? - It looks like journalists' sentence structure is also suffering.]

What does it mean to be "untethered to the global financial system"? Does it mean that it will not be exchangeable for any other currency? A kind of "token" to exchange for food, accommodation, entertainment…etc? A "food ration card"?

Will all payments made by the Chinese people will be tracked? It looks like they are closing a hole in the reputation system.

How will the Chinese people pay for prostitutes?