Li Lihui: There may be several super-sovereign digital currency systems around the world, no longer having clear country labels

Babbitt reported on the spot that on January 15th, at the "Internet Breaking Fusion Blockchain and Digital Finance Summit Forum" co-sponsored by eBay Finance, a blockchain, and "Financial Finance" magazine, Li Lihui, the leader of the Blockchain Working Group and former President of Bank of China, said: 1. The highlight of legal digital currency is that it can strengthen the public attributes of the payment system, save the cost of cash flow, promote inclusive finance, and provide end-to-end for digital asset transactions Reliable payment tools. The dark point is that under the issuance mechanism of legal digital currency, public deposits may shift from commercial banks to central banks, which may weaken the initial credit capacity and profitability of commercial banks.

2. There are two shortcomings of virtual currency. One is the technical defect. The verification of the entire network of the decentralized architecture requires ultra-large-scale data synchronization. Therefore, virtual currencies have not been able to solve the problems of transaction efficiency and large-scale applications until now. Sexual defects, his currency is unstable and speculative.

3. Global digital currency should cause our vigilance, it may lead to financial disruption. The first is super-sovereignty. The status of digital currency as a general equivalent essentially depends on the trust of the public. The sovereign currencies of weak countries may be replaced by global digital currencies, and the sovereign currencies of developed countries may become anchors of global digital currencies. Target, but the currency's primary and secondary status will be replaced, there may be several super-sovereign digital currency systems around the world, and there is no longer a clear country label. The second is superbanking. Libra's goal is to provide financial infrastructure that can cover all corners of the world and cover billions of people around the world. It may start with liquidation and gradually enter the fields of savings, financing, investment, insurance, asset trading, etc. The economic life of the masses. At this time, there may be no need for commercial banks or third-party payment agencies.