Search Results for: CHINA

Ping An of China’s Blockchain Unit Chooses US over Hong Kong for IPO

Chinese insurance giant, Ping An Insurance’s financial technology arm, OneConnect is leaning towards choosing New York over Hong Kong for its initial public offering (IPO) this year in mid-November. As China’s biggest insurer by market value, Ping An Insurance Group was planning its IPO originally in Hong Kong, aiming at a deal that could raise … Continue reading Ping An of China’s Blockchain Unit Chooses US over Hong Kong for IPO

China Construction Bank Announces Updates of Blockchain Platform After $50B Transacted

One of China’s four largest banks, China Construction Bank (CCB) has officially released the second version of its blockchain platform for trade finance, reaching 360 billion yuan ($50 billion) in cumulative transaction volume.  CCB announced the release of “BCTrade 2.0,” focusing on digitizing trade and financial services between 54 domestic and overseas CCB branches and 40 external … Continue reading China Construction Bank Announces Updates of Blockchain Platform After $50B Transacted

China Looking into the Application of Blockchain and AI for Cross-Border Financing

China is researching the application of blockchain technology and artificial intelligence in cross-border financing, with a focus on risk management.   As reported by Reuters on Oct. 27, Lu Lei, the deputy head of the State Administration of Foreign Exchange (SAFE) in China, said that there are plans to use blockchain and AI for cross-border financing, after … Continue reading China Looking into the Application of Blockchain and AI for Cross-Border Financing

President Xi Urges Expedition of Blockchain Development in China

On Oct. 25, China’s President Xi Jinping said at the study session of the Politburo held on Thursday that the nation should accelerate the development of blockchain technology.   Xi Jinping delivered a speech while presiding over the study. He pointed out that the application of blockchain technology has extended to digital finance, Internet of Things, … Continue reading President Xi Urges Expedition of Blockchain Development in China

China’s Cryptography Law Piques Local Interest and Stirs Global Market Reaction

On Saturday, Oct 26th, China’s top legislature voted to pass a national cryptography law that will come into effect on January 1st, 2020. The vote was passed just one day after Chinese President Xi Jinping stressed the necessity for China to leverage blockchain technology.  According to an announcement from the National People’s Congress (NPC) Constitution … Continue reading China’s Cryptography Law Piques Local Interest and Stirs Global Market Reaction

China’s Central Bank Rolling Out DCEP National Currency, While Saying ‘Libra Won’t Succeed'

China has been reportedly developing its central bank-issued digital currency for a while and is believed to be ready to launch by China’s central bank, People’s Bank of China (PBoC).  Huang Qifan, the Vice Chairman of the China International Economic Exchange Center (CIEE), stated that the PBoC has continued to be committed to becoming the first country in the … Continue reading China’s Central Bank Rolling Out DCEP National Currency, While Saying ‘Libra Won’t Succeed'

China, the PBoC x Blockchain: Love and Marriage, Horse and Carriage

This article is contributed by our content partner, Nexchange NOW. It’s all about China and blockchain. After breaking news of President Xi Jinping’s official endorsement on the blockchain technology and Bitcoin performing a sharp “to-the-moon” move and hitting $10K over the weekend, blockchain-related stocks in China also received a major boost. Derivatives exchange FTX has … Continue reading China, the PBoC x Blockchain: Love and Marriage, Horse and Carriage

Communist Party of China: Members Can Show Allegiance Through Blockchain

The Communist Party of China has taken President Xi Jinping’s call for blockchain development a step further by offering a new app, where members will be able to show their loyalty by noting down the reasons for joining. The answers will be stored on a perpetual distributed ledger Blockchain technology will be instrumental in ensuring … Continue reading Communist Party of China: Members Can Show Allegiance Through Blockchain

China Creates New Regulatory Authority for Blockchain Products and Digital Payments

October 2019 has seen change come to China regarding blockchain, technology innovation and future plans in the Chinese financial system.  Earlier this month, China’s President Xi Jinping made announcements on blockchain prompting banks to begin investing in the industry. In line with this, it is reported the next direction will be a new digital currency … Continue reading China Creates New Regulatory Authority for Blockchain Products and Digital Payments

Blockchain-Based Invoices Reached $1 Billion USD in China with 10 Million Invoices

Shenzhen’s pilot blockchain technology invoice system has reached a new milestone. The program known as ‘fapiao’ which allows the Chinese government to track purchases and prevent tax evasion, has just issued its 10 millionth invoice. This comes from over 7,500 companies using the e-invoice system to date. The program has now been active for over … Continue reading Blockchain-Based Invoices Reached $1 Billion USD in China with 10 Million Invoices

Exit mobile version