Foxconn Founder: Libra Can ‘Converge’ With China’s Digital Currency in Taiwan

As reported by CoinDesk, “Terry Gou, Taiwan’s richest man and the founder of manufacturing giant Foxconn, wants the island to roll out the red carpet for Facebook’s Libra cryptocurrency project.

“In a recent, little-noticed speech, the billionaire and one-time presidential candidate said Taiwan could boost its status as an international financial hub by embracing Libra, rather than approaching the project with skepticism as other governments have done.

“Gou also suggested the island could connect Libra, if and when it launches, with the digital currency being developed by the People’s Bank of China.

“’I know Zuckerberg pretty well, and I hope we can bring Libra to Taiwan in the future,’ Gou said on Oct. 3 at the annual meeting of Taiwan’s technology association in Taipei.

“’Mainland China has decided not to accept Libra and build its own digital currency,’ he said. ‘That creates a great opportunity for Taiwan as we can become a place where the two separate systems converge.’

“To that end, Taiwanese regulators should establish a more welcome legal system for decentralized finance technologies, Gou said, arguing that fintech projects could benefit semiconductor and crypto businesses, both areas where Foxconn is active. He also announced that his own educational initiative would introduce a blockchain curriculum.”

Read the full story at CoinDesk.

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