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ChainDD Live Report in Wuzhen | CEO of Thunder Does Not See Potentials of Libra Replacing Central Bank推广

Abstract : Chen believes that Libra will never replace the central bank or change the total volume of currencies in this society; what Libra changes is how currencies flow and the form of currencies.

ChainDD
ChainDD

Oct 22

Live report of ChainDD in Wuzhen. At 8pm, October 20 (Beijing Time), Chen Lei, the CEO of tech company Thunder shared his views on the Consensus Night-Conversation between Entrepreneurs organized by TMT Post. Chen believes that Libra will never replace the central bank or change the total volume of currencies in this society; what Libra changes is how currencies flow and the form of currencies.

Chen also mentioned that Libra faces challenges and Libra will only be widely adopted when it solves the pain point of the industry. For example, people will question whether Libra’s technology is mature enough. And the biggest challenge lies in how to protect users’ privacy.

“I never think Libra will be able to be a substitute of the Central Bank and relevant concerns are not necessary. By now, I have not seen any statement from central banks of European countries or the Federal Reserve System. But I am worried that it will have an impact on monetary policies in our country. Since Libra can issue as much digital currency as they want, it won’t change the total volume of currencies in the society. Instead, what Libra changes is how currencies flow and the form of currencies. Libra actually helps currency flow in a faster and better way, especially in cross-border transaction”, said Chen.

The Consensus Night organized by TMT Post and ChainDD has two main themes: The Future of Digital Economy and the New Business Logics. These two sessions are host by ZHAO Hejuan, the founder and CEO of TMT Post Group and LIU Xiangming, the cofounder of the group respectively.

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