On September 25, at the 83rd "Finance Academic Frontier" report, Yang Jiemeng, research team member of the Research Center of Financial Research Center (FDFRC) of Fudan Development Research Institute, made a speech entitled "Libra Utopia and China's Legal Digital Currency Opportunity" According to the report, Libra and traditional payment systems meet the demands of different parties, help account parties make large payments, remittances, reduce the transaction costs of the recipients, and allow traditional institutions to observe and respond to innovative means. Specifically, it has three major advantages: 1. Low operating cost: blockchain replaces manual reconciliation to bring efficiency and error reduction; 2. Low transaction cost: Libra in-system transactions do not need to pay to central agency agencies; Low margin to reduce costs: Real-time synchronization of accounts increases inter-institutional credibility, reduces margin requirements, and reduces the additional cost of margin. Libra also faces four major risks: different regulatory requirements faced by countries; anti-money laundering risks; financial security and information security; and regulatory policy uncertain risks. Therefore, although Libra has a very good fantasy, there are still many challenges from the real landing. The biggest challenge comes from how to deal with the supervision, as well as many issues including privacy issues, run-off risks and so on. It is still in the Utopia stage.