Zhang Rui, director of the China Market Society: Facebook is a big winner regardless of Libra’s fate

On July 18th, Zhang Rui, a member of the China Market Association and a professor of economics, published an article "Facebook is a big winner regardless of the fate of Libra." The article pointed out that because Libra anchors bank deposits, government bonds, and a basket of currencies, it can fully measure the value of goods, and at the same time can act as a medium for commodity exchange and as a target for access to public wealth. Therefore, even if Libra cannot obtain the identity of a global legal currency, it can fully compete in the field of goods and services in the form of digital currency like Bitcoin, and the huge user community must create more value space than any one. A digital currency is much broader and broader. Not only that, but Libra can also open the door to digital finance and the digital society like WeChat and Alipay, bringing Facebook into a new business model.