Wang Yongli: The global cryptocurrency does not equal the real global currency and cannot be upgraded to a super-sovereign world currency.

Today, former Chinese bank deputy governor Wang Yongli issued a message on the WeChat public account, "Libra: To Be a Global Challenge Without Borders," the article said that as a fiat currency, the choice of a basket of legal currency is difficult and challenging. In the practice of linking only to a single legal currency, the possibility and actual effect of its landing operation is not necessarily better than the token of a single legal currency; the global cryptocurrency is not equal to the real global currency, cannot replace the legal currency, and cannot be upgraded to super-sovereignty. World currency; currency and liquidation are not just technical issues, they need to meet the requirements of national legal supervision, and business models are feasible; although the current national sovereign currency system has many problems, it is evolving after a long period of survival of the fittest the result of. Before the emergence of the country, the realization of world coherence or at least the realization of world multi-polarization, the world’s two largest countries and even more countries to balance each other, reach a consensus, and are willing to give up their own currency – to jointly build a super-sovereign world currency, rely solely on technology. It is not realistic to create a super-sovereign world currency (global currency)!