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From Zero Mentions to a Dedicated Section in CINIC Report: How Fast is Blockchain Growing in the Chinese Internet Industry

The China Internet Network Information Centre (CINIC) recently published “The 45th China Statistical Report on Internet Development”. Compared to the previous issue, it is worth noting that the CINIC covered blockchain development as a dedicated section in the latest report. The report highlighted the rapid blockchain development of China in three aspects: regulation, technical development, and … Continue reading From Zero Mentions to a Dedicated Section in CINIC Report: How Fast is Blockchain Growing in the Chinese Internet Industry

Chinese Tech Company Tencent Launches Blockchain Accelerator

Tencent, the Chinese multinational conglomerate, announced, on April 29, 2020, the launch of its new blockchain accelerator which is now open to both mature and early-stage blockchain-based startups. The company specifically mentioned that it is currently looking out for 30 co-builders for the position and has listed down 3 main criteria to apply for the application.  The … Continue reading Chinese Tech Company Tencent Launches Blockchain Accelerator

Crypto Miners Allege Chinese Bitcoin Mining Giant Delivered "Defective" Product

Ahead of Bitcoin’s much-awaited halving event on May 12, a group of miners alleged Bitmain’s latest “Antminer” deliveries were defective and led to losses for investors.  Bitmain runs into trouble Arseniy Grusha, head of US-based mining firm Wattum, noted multiple issues with the February batch of purchased Antminers, as per a LinkedIn post on May … Continue reading Crypto Miners Allege Chinese Bitcoin Mining Giant Delivered "Defective" Product

China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain

China’s central bank, the People’s Bank of China (PBoC) Financial Technology Committee held its first meeting of the year this week, after months of delay due to the coronavirus pandemic. Fan Yifei, the PBoC’s deputy governor echoed President Xi Jinping’s call for the acceleration of the country’s blockchain development adoption. The president pointed out that … Continue reading China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain

Chinese Government to Consider Cross-Border East-Asian Stablecoin for Hong Kong Amid Implementing Controversial National Security Law

Chinese officials are to consider a cross-border Asian stablecoin in Hong Kong, to facilitate a cross-border payment network between three Asian countries, and four currencies – China, Japan, South Korea, and Hong Kong. The world’s second-largest economy is aiming to build Hong Kong into an international financial center in the digital economy era. At China’s … Continue reading Chinese Government to Consider Cross-Border East-Asian Stablecoin for Hong Kong Amid Implementing Controversial National Security Law

Chinese E-Commerce Giant JD.com Launches Enterprise-Level Blockchain-Based Smart Contracts

Chinese e-commerce giant JD.com, also known as Jingdong, has successfully launched two enterprise-level applications, including blockchain-based smart contracts, and the protection of commercially confidential information. These two applications were launched on JD’s independently-developed proprietary blockchain, JD Chain. The JD Chain blockchain framework was made open sourced around a year ago, five months after the company … Continue reading Chinese E-Commerce Giant JD.com Launches Enterprise-Level Blockchain-Based Smart Contracts

Alibaba to Bring Blockchain Technology to Chinese Shipping Ports

China is tapping into the potential of blockchain technology like none other; the country’s entrepreneurs and local governments alike have already started implementing blockchain-based projects while most of the globe grapples with legality issues.  China looks to blockchain In the latest push, the China Merchants Port announced last week its implementation of blockchain technology in … Continue reading Alibaba to Bring Blockchain Technology to Chinese Shipping Ports

Chinese Police Discover Illegal Bitcoin Mining Activity in Mysterious Graves

Police in China recently discovered illegal Bitcoin mining, which was buried underneath a local cemetery. Power losses within the area caused the initial suspicion. A Chinese oil field company submitted a tip to the local police requesting them to investigate suspicious power losses in the northern city of Daqing, Heilongjiang province. The police officers arrived … Continue reading Chinese Police Discover Illegal Bitcoin Mining Activity in Mysterious Graves

Head of Chinese Investment Firm Believes Blockchain will "Lead" China's Economy, Here's Why

China’s blockchain push seems never-ending, various governmental and financial officials of the country have, in recent times, spoken on the merits of blockchain technology and how a distributed ecosystem may help bolster the ongoing “fourth industrial revolution.” Oncoming digital globalization Dr. Xiao Feng, who serves as the VP of China-focused investment fund China Wanxiang Holdings, … Continue reading Head of Chinese Investment Firm Believes Blockchain will "Lead" China's Economy, Here's Why

Chinese Bank Issues the First Asset-Backed Commercial Paper in China on Blockchain

China Zheshang Bank, based in Zhejiang province has leveraged blockchain technology to issue the country’s first asset-backed commercial paper in the Chinese financial market.  China Zheshang Bank successfully issued the “Lianxin 2020 Lianjie First Phase Asset-backed Commercial Paper,” which was worth 120 billion yuan ($16.93 billion).  The asset-backed commercial paper (ABCP) was issued as a … Continue reading Chinese Bank Issues the First Asset-Backed Commercial Paper in China on Blockchain

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