Bitcoin Gets Rejected In China Again As Libra Is Compared To Alipay And Wechat Pay

August 25, 2019 | By | Reply | 24 Readers More


China has once again shown pessimism on Bitcoin. This time, according to Globaltimes, bitcoin fell short of recognition amongst the likes of Libra, Alipay and Wechat Pay.

China said a few good comments about Libra this week, and according to report, the country has considered it to be very similar to payment systems like their locally used alternatives like Wechat Pay and Alipay.

In a globaltimes report which explicated on the obvious similarities between Chinese payment systems and Libra as well as the various uses cases of the highly controversial Facebook project, Libra was expressed to be “independent,” “stable,” “convenient,” and “safe.”

Further, “Libra, unlike other cryptocurrencies, has a stable currency value and is convenient and safe to use in cross-border transactions,” writes Li Daokui, author of the op-ed. “In fact, Libra is in many ways the…

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