Most likely, Huawei also will not create its own stable coin, similar to Libra. The creation of such a global coin cannot be trusted in private hands. Then, so that the global financial system is not in a fever, the government will have to support such a private company.
Recently, information has appeared that something similar could create the Chinese government. This is already more real. Moreover, China may ignore the opinion of the United States and even other states on this matter. This is important, given that this was the reason for the actual closure of the Libra project.
No matter the effort they put into creating the coin, it would still have its own boundary because how many coins will be created for global use, we cannot use so many coins as the same time and we can only use one. No, I can see that we are having lots of competition, and don’t be shocked if every country now start raising their own currency also, so who will then succumb to who, most of these people are just doing this to create competition and also to limit the monopoly of anyone of them.
If Facebook creates its own now, and Huawei creates its own coin too, it means china will never look at Libra, while Americans will never look at Huawei coin also, then other countries will then follow same step.
