Huawei Chinese version of Libra ?

[jcarlo]

I am not at all surprised by this decision. Since Huawei is currently in conflict with the US government and the US is putting direct pressure on Facebook to prevent Libra from appearing, it’s logical that Huawei will try to release a similar coin in order to have its trump cards in the trade war with the US government. The planned appearance of Libra has caused a great interest and a strong reaction all over the world, so the Chinese business will not miss its chance for profit. They copy everything that can be profitable.

I agree, the American feud with Huawei dragged on to many things and this was interfered with by the Chinese government. I read a number of articles that China announced it would make its own cryptocurrency after Facebook began to seriously make Libra Coin.
I think this is good because with more and more news about cryptocurrency, it makes people want to invest in the crypto market and can make the crypto market attractive again like 2017

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[Mighty_crypt]

They want to do it because they are greedy and wanted to make more money out of the crypto market. They know that having their own token, they will have total control. That's why many crypto enthusiast are shunning away from Libra.

As far as the Chinese version, I think it wouldn't gain that much traction. Probably in their country, but outside the sphere, this will be just another shitcoin, IMHO.

You are right but I bet if China have their own version of Libra China people will embrace it,we know how big the Asian continent embrace crypto right?

[thiscomm]

Yes, it is true. they cannot control the price of bitcoin which is still very far above the cloud. maybe according to them Libra is another way to be able to make their digital coins into the crypto market. and of course with a fairly low price for them to be able to put down their investment money. hope that later when Libra can be as popular as BTC the price they invest can benefit. we just look like Facebook that also uses libra for their digital money.

[daenarys_stormborn]

in my opinion this is actually a very good thing for the crypto world, more and more large companies are competing to become the most prominent in the crypto world will make more people interested in the crypto world, especially companies as big as facebook and huawei, even this is only the beginning

[tranduong123]

China will surely develop its own currency, the problem is only when? I just wondered if they would loosen electronic money ban from last year.

[K4C]

Instead of doing a coin like Libra, why not go the decentralised route and make a coin for the Chinese people that would be decentralised and stick to the fundamentals of blockchain technology? Seems those that has been fighting Cryptocurrencies are now searching for a way to undermine it.

[Bananington]

When I saw this update, I sensed competition which is crystal clear. These guys can't control Bitcoin for real hence the best option is to launch centralized coins with very high regulations. Well, it's not bad for crypto, it's a plus since everything boils down to enhancing mainstream adoption.

[bartolo]

Was he talking about a coin issued by Huawei or issued by the Chinese government? I have read some headlines and it's not still clear to me the role that Huawei would play in the creation and control of that coin. In any case, if Libra is a bad idea, you can get an idea on how “good” that Chinese coin could be.

[disconnectme]

I don't think anyone should be surprise about this, this has been in the pipeline from China before Libra, him now saying this is just saying what we all know, for me I think what is preventing most of this Centralized projects from coming to light is because of transparency, you can verify the amount of Libra tokens created on blockchain,so the issue of printing money out the thin air is out of the equation

[cryptonewbie]

Are we looking at an era where every major organisation is looking to create their own cryptocurrency? First it was JP Morgan, then Facebook and now Huawei is threatning to do same? Why can't they just be like Samsung that just integrated a wallet into their devices without churning out their own cryptocurrency?

[dkbit98]

Now the only question remains:

What country will create 1st centralized cryptocurrency
USA or China ??

Clock is ticking...

[dearbesz1219]

Huawei is a similar company like Facebok, also they had problems with losing user's datas. So probably they would develop also similar cryptocurrency.

[bittraffic]

Huawei is a similar company like Facebok, also they had problems with losing user's datas. So probably they would develop also similar cryptocurrency.

You mean similar deeds like collecting data from its users?  You can't say no company isn't collecting these days some are even worse. But having more stablecoin in the market is way better than focus only to one stablecoin, I'm assuming this Chinese Libra will be pegged to CNY. I can only see China's version I guess will be more used than Facebook's Libra.

[Lizzylove1]

They want to fight Facebook that is still under scrutiny, not even sure if the US senators will allow the a breathing ground. Huawei should relax and concentrate on building on their operating system and possibly partner with an existing coin in the market rather than trying to have another centralized coin that will raise dust in the world politics. 

[robelneo]

Huawei CEO Ren Zhengfei: Why Wait for Facebook? China Can Issue Its Own ‘Libra’

source articles:
https://cointelegraph.com/news/huawei-ceo-why-wait-for-facebook-china-can-issue-its-own-libra
https://finance.sina.cn/chanjing/gsxw/2019-07-26/detail-ihytcerm6336647.d.html?ivk_sa=1023197a


Whaaaaaat
Yes we can have many 'Libras' in the world.
Bunch of centralized so called coins that will fight and compete with each other.

Why are they doing this?
Because they can't control Bitcoin  

This is one of the biggest sign that Blockchain has already arrived Big companies are talking being a part of this technology, there was an attempt in the past, countries creating their own token, but this technology is new, they all failed to realize, now could be the right time, now that Facebook is creating their own, big companies now, big countries soon.

[chocopapaya]

China has the most crypto trading volume by far.
It has the highest amount of hashpower for mining.
It has the highest adopted use of crypto.
It is by far the biggest crypto country in the world.

But why do people not take China seriously or don't realize just how powerful it is in the world of crypto?
Because China, in the end, really only cares about China.
There's 1.6 billion in China for crying out loud.
They can be ultra successfula nd wealthy just by focusing on their own market.
And I think that's what a Huawei coin would do.

[upyem2k]

They know what they are doing and every actions or waits taken is for a reason. With the emergency of series of cryptocurrency that we ha ẹ seen risen and fallen, they need to make a way of avoiding such.
And on bitcoin price regulation, I just don't know how it keeps happening risen and fallen in price while we all believe it doesn't have a body regulating it's price.

[bittraffic]

China has the most crypto trading volume by far.
It has the highest amount of hashpower for mining.
It has the highest adopted use of crypto.
It is by far the biggest crypto country in the world.

But why do people not take China seriously or don't realize just how powerful it is in the world of crypto?
Because China, in the end, really only cares about China.
There's 1.6 billion in China for crying out loud.
They can be ultra successfula nd wealthy just by focusing on their own market.
And I think that's what a Huawei coin would do.

That's right. So why wait. Huawei should just go on. I don't think any state can stop them form doing so. Although they may not have the capacity to make it world wide like facebook, they have Huawei phones that can be installed there just like Samsung is doing. That means you being a Huawei phone owner has the access to their coin. Its almost the same thing, this is a far bigger threat they'll have to consider than facebook libra. Act now, approve Facebook libra or Chinese will do it for you.

[tsaroz]

At least we are moving somewhere. And something is always better than nothing. When technological giants and governments compete, the benefit would always be to the normal users. If US and China issued competing crypto, users would move to whichever is friendlier to them. In that race, they would be bound to change according to the need of the users. And this time, it's not going to be just the two poles.

[crwth]

Don't you think that most of the developers of coins have created their own because they want to control the supply? They want to control how much to have or be given to different people? I think the developers mostly want to have that and to create something that could help the community and also doing that to benefit in their gain. Not that it's wrong, but I think it's a common trait for every one of us that we want something to earn from. Not every time but it still happens.

I think it's quite easy for big brands like Facebook, Google, Huawei, etc., to create their coin. It can easily be mass adopted because they control most of the software and technology. I believe there would come a time that it would be heavily used it maybe Libra, maybe not, but one thing is real in all of this, Bitcoin is still the most recognized of them all. Let's see how the market reacts with the possible future happenings.