Opinion: The working principle and purpose of the central bank's digital currency, Libra, and Bitcoin are completely different

Sino Global Capital CEO Matthew Graham recently stated that China's development in the central bank's digital currency (CBDC) has nothing to do with the general cryptocurrency market. He also believes that the development of China's digital renminbi and Facebook's plan to launch Libra are almost the opposite of Bitcoin because they work on completely different principles and purposes. Although Bitcoin has been a decentralized asset form from the beginning, China's DCEP will be completely controlled by the People's Bank of China. However, Graham claims that whether China's DCEP will be released in 2020 remains uncertain. "I still think we're talking about a huge plan, and I don't have real technical project management experience, but I think we all know that some things take longer than originally, and people might think so."