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28 May 2020

Former PBoC Governor: Libra Would Be Trusted If Run by IMF

Former PBoC Governor: Libra Would Be Trusted If Run by IMF

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The former head of People’s Bank of China (PBoC), Zhou Xiaochuan has argued that the Libra stablecoin would be more readily trusted if it were in the hands of an organization like the International Monetary Fund (IMF).

The former governor stressed that the general public will inevitably question the motivations of the Libra Association and argued that more trust would be afforded to the initiative if it was in the hands of an international organization such as the IMF. .

Recently, Ethereum (ETH)’s co-founder and ConsenSys CEO Joe Lubin expressed his belief that the People’s Bank of China is unlikely to implement the decentralized design of blockchain for its forthcoming CBDC. 

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