Ryuk, a bitcoin ransomware virus is now targeting Chinese enterprises. It has already gatecrashed over 100 government and private entities in the US and is now behind China. It has victimized the logistic, technology sectors and small municipalities that acquires high data value. It is asking for a ransom of around $5 million in bitcoins.
Chinese bitcoin mining firm has been seized for a spike in local electricity usage. The police have seized around 4,000 bitcoin mining machines from the mining operations. The police allege that the firm has stolen nearly 20 million yuan ($3 million) cost of electricity. The investigators suspect that more than 20 people involved in the mining operation…
China’s central bank is creating its own cryptocurrency in response to Facebook’s Libra. Wang Xin, Director of the People’s Bank of China Research(PBoC) Bureau made the announcement. The bank is worried that Libra could potentially pose a challenge to Chinese monetary policy and financial stability…
Apparently, Government authorities in China have spotted illegal Bitcoin mines in the Sichuan region which are set up in various hydropower stations. The land resource Bureau has information regarding these bitcoin mines which have no approval from the government. The entire information about the discovery of such illegal bitcoin mines sources back to a local […]
Chinese online business goliath JD.com to get over 200 blockchain patents. It has apparently appealed for more than 200 blockchain licenses according to a report. As per the Intellectual Property Center of China Information and Communication, Alibaba has appealed for 262 blockchain licenses. Following it are Chinese web titans Tencent and Baidu with 80 and […]
IBM has successfully completed the shipping of 108,000 mandarin oranges from China to Singapore using blockchain technology. The trial was conducted with an aim to reduce paperwork formalities and shipping costs involved. Pacific International Lines handled the transit using an e-BL, an electronic version of the Bill of Landing developed by IBM Research Singapore, which was processed on blockchain.
WISeKey, a Switzerland-based blockchain and cybersecurity company, has opened a Blockchain Center of Excellence in Geneva, to focus on Fintech domain. The center is intended to promote the research and development of blockchain. As per the company, the opening of the center is the result of its partnership with the Blockchain Research Institute, which also aims to come up with more centers in the US, China, India, and Africa.
Ripple has partnered with Tsinghua University in Beijing to offer blockchain research program in China. The Institute for Fintech Research at the university has stated that the research program will focus on global regulatory policies and development of blockchain technology. The selected candidates will also be allowed to attend corporate events so that they get a comprehensive view of the global blockchain regulatory policies.
The Cyberspace Administration of China (CAC) has introduced a new set of regulatory terms for blockchain companies operating in the country. As per the new guidelines, blockchain companies will have to register their names, domains as well as server addresses at the CAC within 20 days, failing which they will be fined with a penalty of $2,900 to $4,400 (20,000-30,000 yuan).
China has launched Internet court in the eastern Chinese city of Hangzhou aimed at utilizing blockchain to fight against plagiarism for online writers. The court will save time and cutdown the overhead costs required in seeking justice in case of an online dispute. The country has already set up Internet courts in Beijing, Hangzhou, and Guangzhou for handling Internet-related issues.