Founder of Huawei: China is able to release its analogue of Libra

by in Cryptocurrency News

Ren Zhengfei about Libra

The founder of the Chinese technology giant Huawei, Ren Zhengfei, said that China should not wait until someone launches a digital currency like Libra. In his opinion, the state is always stronger than any Internet company. This was reported by the local media.

Related: China's "Digital Yuan" might launch in 2020!

"China is able to release its analogue of Libra," the entrepreneur stressed.

It is noteworthy that during a US congressional hearing, Facebook executive David Marcus said that Libra digital currency's wallet Calibra can be considered a direct competitor to AliPay and WeChat payment solutions. This phrase immediately went into the top search in the Chinese social network Weibo.

Note that Libra is likely to be provided by the US dollar by more than 50%. The British pound, the Japanese yen, and the euro will also be included in the Libra Reserve. This circumstance can not but alarm China, which is in a state of the trade war with the United States.

It is worth adding that it was Huawei that became one of the main victims of this war, during which the US Department of Commerce blacklisted the company, thereby forcing the American corporations Google, Intel, Qualcomm, Xilinx, and Broadcom to substantially restrict cooperation with it.