Wu Changhai, China University of Political Science and Law: It is unrealistic to discuss the encryption of digital currency instead of legal tender at this stage.

According to the Beijing News, on July 31, Wu Changhai, deputy dean of the Institute of Capital and Finance of China University of Political Science and Law, said in an interview that Internet companies issue virtual currency, whether in the United States or in China and other countries, in the existing state governance model. Underneath, it is impossible to shock or replace legal tender. = Encrypted digital currency, especially the stable currency represented by Libra, cannot and cannot replace the legal digital currency. The legal digital currency is a substitute for banknotes and is issued by the central bank. The general encrypted digital currency itself does not have a monetary function. The government cannot The idea of ​​currency distribution is handed over to a company, and this idea is impossible to achieve for a long time. = However, under the continuous development of artificial intelligence and digital economy, the virtual currency issued by enterprises will replace the function of money locally. This is a development law that humans cannot prevent. It is unrealistic to discuss the encryption of digital currency instead of legal tender at this stage.