The CEO of Huawei, China’s largest smartphone manufacturer, said that China should issue cryptocurrencies, in a recent interview he had with several Italian media outlets.
During the interview, Italian journalist Fabio Savelli asked Ren whether he thought the launch of Facebook’s cryptocurrency project Libra is a sign that the U.S. tech giant is trying to maintain its world dominance, along with the U.S. government.
CEO Zhengfei Ren responded that “China can also issue a similar currency [like Libra]. Why wait for someone else to issue it? A nation’s power is greater than that of an internet company.”
Meanwhile, Ren’s Huawei has been actively seeking opportunities in the blockchain technology for years.