TechNode’s Tech After Hours to Discuss Libra, China’s CBDC

Asia Blockchain Review
September 22, 2019
TechNode’s Tech After Hours to Discuss Libra, China’s CBDC

TechNode has announced more insightful talks as part of its Tech After Hours series on the future of digital currency. The announcement follows up on the success of the latest discussions held on August 22nd on the future of electric vehicles in China.

Facebook’s Libra Draws Global Scrutiny

In June, Facebook released its white paper to tap into the crypto space with its Libra project. Since then, the social network giant’s digital currency project has come under the scrutiny of regulators and politicians worldwide. Governments have begun studying the potential impact that Libra may have on global finance and their own monetary policies.

In the wake of the Libra announcement, some countries have reportedly been developing their own sovereign cryptocurrency, including China and the Pacific island nation of the Marshall Islands.

Although there have been reports of China developing a Central Bank Digital Currency (CBDC) to be pegged to its renminbi over the past few years and that the currency is “almost ready” for launch, China has not officially disclosed any actual plans so far.

Tech After Hours Series in Shanghai on Sept. 25

TechNode’s Tech After Hours event will take place on September 25th, at the Bund 1, Yan’an East Road, Shanghai, China. The event features three famous speakers — Richard Wang, CEO of QunZhong E-Commerce; Hang Yin, Co-founder and developer of and Bitcoin Gold; and financial industry veteran Alex Sirakov. 

The session will cover the implications of digital fiat currencies and cryptocurrency projects like Facebook’s Libra. How will Libra fare against China’s rumored CBDC? Will it threaten the dominance of China’s ubiquitous mobile payment platforms, like Alipay and WeChat Pay?

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