China

blockchain network

China’s Nationwide Blockchain Network BSN Will Launch in April 2020

China’s nationwide blockchain network, the Blockchain-based Service Network (BSN) will launch in April 2020. The launch will commence after its six months of the beta testing period gets over. The network primarily aims to improve the layout of the blockchain sector. And serve the development of smart cities as well as the digital economy. Backed […]

central bank of china

“Digital Yuan Will be Different from Bitcoin” Says Central Bank of China

Central Bank of China deputy director Mr. Mu Changchun announces in his recent media interaction that Digital Yuan will be different from Bitcoin and Stablecoins. According to the South China Morning Post, China’s national digital currency would be a digital form of the Yuan. The head of the digital currency research institute at the People’s […]

China Telecom's White paper on blockchain smartphones

China Telecom to develop blockchain powered smartphones

The major mobile telecommunication provider China Telecom has released a white paper on 5G blockchain-based smartphones. The 5G internet on blockchain smartphones will enable users to automate and trace certain activities with phones. This release took place at the China International Intelligent Industry Expo…

China's official digital currency

China’s official digital currency is ready says its central bank

As much as China shows disapproval towards cryptocurrency, it is now introducing its own form of virtual currency. The People’s Bank of China (PBOC) has announced that China’s official digital currency (CBDC) “can now be said to be ready”. However, there’s no mention of just when the currency would be ready…

Bitcoin ransomware in China

Bitcoin Ransomware Ryuk Now Threatens Chinese Enterprises

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 police seizes Bitcoin mining machines

Police Seize Thousands Of Bitcoin Mining Machines In China

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…