CSDN Vice President: Facebook's approach may not apply to Chinese payment companies

Meng Yan, vice president of CSDN, said that Facebook has a dispersed user base around the world. It has no better choices and can only learn from the idea of ​​blockchain and cryptocurrency to avoid launching global payment networks in the traditional way. Facebook cannot establish a global payment network through traditional methods, because traditional methods require a license and prepare foreign exchange reserves at local banks in each market. Meng Yan believes that this method may not be applicable to Chinese payment companies because they come from a single economy that uses the same type of legal currency. China already has a well-established payment and settlement network, and it may not be necessary to use encryption-stabilized coins at present.