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Home News Altcoins Facebook Will Take A Step Forward, Will Ali Tencent Follow Up?

Facebook Will Take A Step Forward, Will Ali Tencent Follow Up?

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Libra a digital currency led by global social networking giant Facebook (Facebook ), tested the online line and released a white paper, which triggered a heated discussion in related fields around the world. Many in the industry believe that Libra will realize the “global currency” ideal that Bitcoin has not achieved in the past decade.

According to the white paper, Libra, the global currency without borders, has three cores, based on blockchain, with real asset guarantees and independent association governance. In other words, Libra is a “stable currency” guaranteed by real asset reserves. Each Libra digital currency will have a basket of currencies or assets of corresponding value to be endorsed by the trust. It is supervised by the founding members of the Libra Association, and each founding member is responsible. Run a certifier node.

“Stable currency” Libra’s multiple uses

With the entry of technology giants such as Facebook, the huge volume of the stable currency market has gradually emerged and is receiving more and more attention from the public. Currently, in addition to Facebook, JPMorgan Chase has also launched a coalition based on the alliance chain to handle large customer transfers. “In contrast, Libra attaches great importance to the feasibility of landing.” Xu Kun, vice president of strategy at OK Group, believes that Libra has many uses as a global currency for stabilizing coins and commercial features.

From a monetary point of view, Libra is first and foremost a value carrier for cross-border payment processes based on blockchain. In the cross-border payment market with trillion-dollar market size, it can improve efficiency and reduce costs, and achieve “transaction-settled”. Secondly, Libra can also be an important tool for qualified investors to invest in globalization, covering more investment targets and achieving more efficient asset allocation. In the future financial field, Libra can even learn more about the traditional financial business model, including lending, custody, trust, asset management, etc., under the premise of compliance.

From the perspective of a stable currency, Xu Kun believes that in the bear market, stable currency is an effective means of maintaining value. In the bull market, a stable currency is the incremental capital import of the digital asset market. With the improvement of the basic performance of the public chain and the development of the protocol layer, the stable currency will become the medium for users to obtain blockchain services, and bring incremental users to the public chain ecology.

Landing in the country requires “seeing the regulatory face”

As a domestic Internet company that can compete with Facebook, Ali and Tencent’s statement is “seeing the face of supervision”.

Ali said that after the Libra white paper was published, the spokesperson of Ant Financial insisted that “the position of staying away from the digital currency has not changed”; Tencent also showed the same attitude. “Technology is mature and not difficult. It depends on whether regulation is allowed. “,” CEO Ma Huateng commented in the circle of friends.

“The two statements have one thing in common, that is, they are vocal about the supervision layer, and they are loyal. It is not that I can’t do it. The technology is fine. If you don’t let me do it, I won’t do it. You can let me do it.”, the founder of the gene coin Dou Yingxin commented.

“Chinese people’s understanding of the wall, leading the world for thousands of years, Qin Shihuang repaired the Great Wall two thousand years ago, Trump is now planning to repair the wall at the US-Mexico border, it may not be able to repair”, Dou Yingxin pointed out, from another angle, fire prevention The Great Wall has greatly eased the Chinese Internet through a happy childhood. China’s Internet companies are not overwhelmed by the whole army. Facebook dares to issue coins. It means that there are no “walls” in these countries. Users can recharge the local currency and immediately pledge them. In Libra, since then, the legal currency of many small countries has become unimportant. The unified global currency Libra is a hard currency, just like today’s dollar.

Global landing needs to “seek the greatest common denominator”

Xu Kun believes that Facebook’s way of issuing Libra may not be the theoretical optimal solution, but from a practical point of view, Libra wants to cover its influence globally and needs to find the greatest common divisor in each dimension. Among them, the link to the global package of currencies is one of the ways Libra explores the greatest common denominator and seeks to check and balance.

“Libra’s choice of a basket of currencies is Facebook’s counter-measure against the country’s main body. For small countries, Facebook’s global 2.7 billion users must be considered. Once Libra is linked to a small national currency, to keep the exchange rate, small countries’ Libra’s The regulatory capacity will be limited,” analysts analyzed.

Dou Yingxin believes that the territory of the US dollar is controlled by Wall Street, the land of the renminbi has better mobile payments, and Europe can also find a reason for fines. The basis for Libra’s landing is the place where there is no mass base and no technology is blocked.

As the founder of the US group Wang Xing commented on Libra: the strategy is very clear, the persimmons are softly pinched, and the currency system of the weak countries in the world’s 200 countries is gradually replaced. When encountering a few powerful countries, of course, it is time to bow. The conspiracy is a conspiracy.

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