On June 18, Facebook announced the Libra cryptocurrency, a solution to their P2P payments conundrum. As to be expected, this move has gotten a lot of attention. In China, that attention has taken the form of comparing Libra to Tencent's breakthrough Q Coin as well as how WeChat has integrated payments.

Key questions:

  • What is Q Coin?
  • What's the difference between a virtual currency and a cryptocurrency?
  • What is the relationship between Libra, Calibra, and Facebook?
  • Will China ever have something like this?

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