News Huawei's CEO Advocates for China's Answer to Libra

[Admin]

Huawei CEO Ren Zhengfei said in an interview with an Italian website that he thinks China would be able to compete with Facebook's cryptocurrency, Libra.

Huawei's CEO Advocates for China's Answer to Libra : Read more

 

[bit_user]

I don't see what China has to gain by this. They already have very widespread mobile payments. So, the main benefit would seem to be reducing friction moving money across national boarders, which seems counter to China's interests.

I think it's just an example of Huawei trying to grab some spotlight and spread FUD. Either that, or maybe they're going to launch some kind of online payments service (perhaps even targeting markets outside China) that's a crypto coin in name only.