China

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 […]

China Considers Introduction of Blockchain Technology in Equity Centres

Recently, the China Securities Regulatory Commission, or CSRC, released a letter authorizing 5 national stock markets. These will include Beijing, Shanghai, Jiangsu, Zhejiang, and Shenzhen equity centers. These and other regions obtained permission in early July to begin experimenting with a blockchain pilot. Blockchain and stock trading The next move for the CSRC is to […]

Chinese Blockchain-Powered Cross-Border Trade Pilot Handles USD 4.4 Billion

Operators of a Chinese blockchain-powered cross-border trading pilot platform are expected to broaden the platform’s reach. With multi-million dollar trading deals now underway in a key test bed field. Per Haiwainet the central government is checking the network ‘s efficacy in the Greater Bay Area of Guangdong-Hong Kong-Macao. Also known as the Delta of the […]

Beijing Says Blockchain Adoption Is Already Yielding Tangible Results

Beijing Says Blockchain Adoption Is Already Yielding Tangible Results

China’s blockchain kick is starting to leave a noticeable mark on the nation’s capital. With the Beijing government reportedly deploying blockchain technology in 140 different usage cases. According to the Beijing News report, blockchain-powered alternatives helped to eliminate paper-based processes in 253 scenarios involving businesses and 65 issues involving regular citizens. The news item quotes […]

A Chinese official indicated that crypto will inevitably be part of the digital capital market.

China Needs to Reform the Crypto Laws, Former Official Says

Xiao Gang, former Chairman of the China Securities Regulatory Commission, said the country is facing a digital economic transition. So they need to follow the right rules for the fast-growing crypto-market. He spoke at the 19th Pushan Lecture of the China Finance 40 Forum, or CF40, which was held online on 7 July. Several officials addressed […]