Huawei CEO Claims That China Can Issue A Cryptocurrency Better Than Facebook

With quite the interesting opinion is one Zhengfei Ren, CEO of Huawei, the biggest smartphone maker in China. According to The Block, reporting on an interview Ren had with Italian media, China is more powerful than a social media company like Facebook regarding the ability to bring in new cryptocurrencies and ensure people actually use them.

The Government of China Is More Powerful Than A Tech Company

In one interview, Ren had said to Fabio Savelli, and Italian journalist, that “China can also issue a similar currency [like Libra]. Why wait for someone else to issue it? A nation’s power is greater than that of an internet company.”

The CEO was speaking in response to whether or not he thinks that Facebook’s Libra stablecoin is the social media…