Huawei CEO calls on China to launch their own Digital Currency
Huawei’s Ren Zhengfei, CEO of China’s largest smartphone manufacturer, responded to Facebook’s planned launched of Libra by stating “ China can issue its own Libra.” Ren has often commented on how China could easily create a digital currency with the same value proposition as Facebook’s Libra.
He was quoted as saying, “China can also issue such a currency by itself, why wait for Libra? The strength of a state is greater than that of an Internet company.” This is not to say that Huawei wants to directly compete with Facebook, although, Ren has been actively seeking opportunities in the blockchain technology for years.
Huawei founder Ren Zhengfei in an interview with Italian media
People’s Bank of China
|
China’s view on crypto has drastically changed since 2017 when the country had “banned” Bitcoin and ICO, just last week, a court ruling declared that Bitcoin would now be a “legally protected asset’ in China. In addition, the People’s Bank of China began hiring blockchain experts in May to widen its distributed network investments. The director of the People’s Bank of China Research Bureau – Wang Xin – said that the launch of Libra, which was heavily backed by the US dollar “ would bring a series of economic, financial and even international political consequences”. The Chinese research bureau began studying digital assets in 2014 and has been paying high attention to Libra since competition could propel the country to issue its own national cryptocurrency. |
Join+
0
Users
Interested in trading digital currencies? Sign up with BTR Exchange!
