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Chinese government should work on an alternative to Facebook’s Libra project. Mr. Ren Zhengfei, CEO, Huawei; gave his opinion while in interview with an Italian media outlet, L’economia.
According to Mr. Ren, China has the capability to pursue such a project. He had responded to a question about U.S. global dominance and Facebook’s issuance of an international currency – the much talked about LIBRA.
Huawei has been investing heavily in blockchain applications and research. Huawei is a member of the Hyperledger project. It has contributed to some of the Hyperledger modules as well. It has also done lots of work on blockchain on the cloud.
Mr. Ren is not the only proponent of the blockchain technology in China. Earlier, China Agricultural Bank and China Development Bank have been working extensively on introducing blockchain in their applications.