Financial Times: Four Misunderstandings about Digital Currency

In order to think deeply about digital currency and judge the trend, Zhou Ziheng, chairman of Zhejiang Modern Digital Finance Technology Research Institute, used Libra as an example to explain to the Financial Times reporters four common misconceptions in the current digital currency field: the digital community determines the demand for digital money; Technology determines the supply of digital money; digital assets are equivalent to digital currencies; digital foreign exchange means the unification of global currencies. On the fourth of the misunderstanding, Zhou Ziheng said that at present, the global economic development is far from mature to the stage of seeking integration or even currency integration; and economic globalization is undergoing severe challenges and facing major adjustments. At this stage, the international exchange digitalization drives foreign exchange digitization, seeks the digitization of sovereign currency, or even establishes a global single digital currency system. It is not an innovation problem that dares to advance, but is completely out of practice and forced to launch, not only very fragile, but also The risk of a fundamental imbalance.