China

bitcoin mining

Difficulty of mining bitcoin has decreased for the fourth time in a row

Despite China’s ongoing crackdown on cryptocurrency mining, mining new Bitcoin (BTC) is becoming easier, with BTC’s mining difficulty dropping yet again. According to data from Bitcoin explorer BTC.com, the Bitcoin network experienced its fourth consecutive negative adjustment of mining difficulty on July 18, dropping 4.8 percent. The most recent mining difficulty adjustment took place at […]

crypto mining

China has banned crypto mining in Anhui Province

The Chinese government is continuing its crackdown on crypto mining by suspending operations in yet another province. According to local news agency Hefei Online, authorities in Anhui, a small province in eastern China, have announced a set of measures to address rising electricity demand and a resulting power supply shortage over the next three years. Anhui […]

crypto mining

COVID is forcing Chinese Internet cafes to become crypto mining hubs

As social distancing measures continue to bite in China, internet cafe owners are turning their businesses into crypto mining centers. According to The Time Weekly, via Sina, a large number of 24-hour internet cafes, designed primarily for PC gamers, shut down in 2020 as a result of the coronavirus pandemic. According to the media outlet, […]

China, CBDC, Bitcoin, BTC, Digital Yuan

Bitcoin is referred to as a “Investment Alternative” by the Chinese Central Bank

With encouraging remarks from Li Bo, the new deputy governor of the People’s Bank of China, China may be softening its stance on cryptoassets, almost four years after enacting a crackdown on bitcoin (BTC), altcoins, and crypto exchanges (PBoC). Several media outlets, including CNBC and the South China Morning Post, quoted Li Bo as saying […]

digital yuan

Chinese Residents make 20K Digital Yuan Trial Event Transactions

In a trial of the country’s digital yuan, people in China conducted around 20,000 transactions through the e-commerce company JD.com. JD.com reported that 80 percent of participants born in the 1980s and 1990s used the platform to conduct transactions in the digital currency starting on Friday night, with at least one transaction greater than $1,527, […]

blockchain

This Chinese SME Outranks PayPal in the World for Blockchain Patents

Chonqing Daily reported earlier this year that data provider IPRDaily produced a list of companies ranked in order of how many applications for blockchain-specific patents they had filed. Unsurprisingly, Chinese tech and business giants such as Alibaba, Tencent, and the Ping An Group led the list, all of whom in recent years have poured money […]

Digital Yuan

China Extends Digital Yuan Trials to Beijing and Neighboring Provinces

China’s Ministry of Commerce today announced it would extend the trials of the nation’s digital currency central bank (CBDC) to include Beijing, as well as provinces Tianjin and Hebei. According to a Wall Street Journal article dated Aug 14, there is not yet a fixed time when the Chinese CBDC’s expanded pilot program will begin. Still, […]

Guizhou in China Launches Blockchain-Powered Int’l Trading Platform

Another Chinese province announced that a blockchain-powered, cross-border financial service platform is about to launch. Per Haiwainet, Guizhou Province, expected to launch the initiative this month in the mountainous southwest of China. The foreign-exchange administrator of the province is the genius of the site. The administrator said he’s been working on the project with the […]

Blockchain the Answer for Power Provider as China Energy Demand Soars

Blockchain the Answer for Power Provider as China Energy Demand Soars with summer temperatures climbing. And production rising in the wake of the coronavirus pandemic, power suppliers in Dongguan, an industrial town in Guangdong province of China, said they experienced a massive surge in demand – and are responding with a blockchain-powered solution. The initiative […]

China May Introduce the Blockchain Standards for Financial Firms

According to a new report, China may be on the verge of adopting national blockchain standards to regulate financial organizations in the country. According to media outlet Caixin, an unidentified “authoritative” source reported that a set of “blockchain standards” has been issued by the Central People’s Bank of China (PBoC), which may soon become “industry […]