The past few weeks have been an absolute flurry for the crypto space. Facebook\u2019s launch of Libra awoke something in the public, forcing anyone and everyone to take note of this budding industry.<\/p>\n
Case in point, the chief executive-founder of one of the world’s most powerful technology companies, Huawei, was recently reported to have finally publicly addressed digital assets for seemingly the first time.<\/p>\n
Sina Finance, a top business news publication that recently added support for Bitcoin and crypto feeds<\/a>, recently covered legendary Chinese entrepreneur Ren Zhengfei’s comments on Libra.<\/p>\n Responding to a question from a reporter about if Libra is a way for the U.S. government to maintain global hegemony over finance, the Huawei chief executive stuck with the party stance.<\/p>\n Per Chinese cryptocurrency insider CnLedger, Zhengfei stated that to mitigate these concerns, China should launch its own version of Libra \u2014 its own digital asset \u2014 to counteract any encroachment by an entity that could theoretically be in cahoots with the American government.<\/p>\n He adds that with the backing of a government, a “crypto Yuan” is likely to outpace Libra, as “the power of a country is always stronger than that of an Internet company.”<\/p>\n Founder of Huawei: China can just issue our own version of Libra. Why should we wait for others to do it? The power of a country is always stronger than that of an Internet company.<\/p>\n Source (in Chinese): https:\/\/t.co\/llbM6noiMI<\/a><\/p>\n — cnLedger (@cnLedger) July 26, 2019<\/a><\/p><\/blockquote>\n\n