Nobel Laureate talks about Libra: You should not pin your hopes on private companies

Article source: The original title of the Beijing News: "Nobel Prize winners talk about Libra: should not pin their hopes on private companies"

On October 18th, the 2nd China Bank Insurance International Summit Forum hosted by Beijing Municipal Bureau of Local Finance Supervision, Beijing Shijingshan District People's Government and Beijing Financial Holdings Group Co., Ltd. was held in Beijing.

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Eric S. Maskin, a Nobel laureate in economics, said in a forum about Facebook and the encrypted digital currency Libra (ie, Libra).

"I personally are skeptical about private digital currencies. I don't think this is a good idea. If Facebook wants to do business in this area, I personally feel very disappointed that it is not beneficial to our financial system. ”

Eric Maskin believes that the central bank can provide digital currency, and the national currency also carries the same function. "If you don't use the national currency and only use bitcoin, the central bank's ability to regulate and control will be lost. This is a private currency without supervision."

“We can really use Bitcoin to transfer money from one point to another, but we can't buy most of the goods or services, and the value of these private currencies also fluctuates very sharply. They are seen as a "Investment, not currency," Eric Maskin is skeptical about private digital currencies. "For private digital currencies, no matter what type it is, I personally feel that the central bank can provide some digital alternatives that will The value of digital currency will be maximized, and we should not pin our hopes on private companies."

According to public information, Eric Maskin is a winner of the 2007 Nobel Prize in Economics and is regarded as the most respected economist in international economics. On October 15, 2007, Eric Maskin and two other economists, Leonid Hevich and Roger Myerson, were awarded the 2007 Nobel Prize in Economics by the Royal Swedish Academy of Sciences. In recognition of their contributions to the creation and development of the “mechanism design theory”.