Former Bank of China Vice President Wang Yongli: Libra is still a special token used in certain online communities or business districts.

Today, former Chinese bank deputy governor Wang Yongli issued a statement on Facebook's cryptocurrency. Wang Yongli said that Libra is still a special token used in certain online communities or business districts. It still needs to be supported by legal currency, and it is impossible to completely replace legal tender. This kind of special token linked to legal tender is only to transplant some encryption technology into the traditional financial operation system, and does not really enter the new cryptocurrency field like Bitcoin and Ethereum. Of course, the emergence of various "stabilized currencies" linked to fiat currencies also indicates to a certain extent that the trust of large institutions in the "cryptocurrency" of a network such as Bitcoin is not enough or is not acceptable.