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China Allows Building of Hydroelectric Plant in Well Known Bitcoin Mining Town

Government authorities in China have allowed construction to go ahead to increase the capacity of current hydroelectric plants in the Ya’an district of Sichuan, a town popularly known in cryptocurrency circles to be teeming with Bitcoin miners. China’s Blockchain Push The development was initially announced by local authorities. As stated, the government aims to bolster … Continue reading China Allows Building of Hydroelectric Plant in Well Known Bitcoin Mining Town

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

China’s Central Bank to Develop Blockchain-Based Trade Finance Platform for the Greater Bay Area

China’s Central Bank, the People’s Bank of China (PBoC) announced its development plans for outlining a blockchain-based trade finance platform for the so-called Greater Bay Area that links Hong Kong, Guangdong, and Macao.  Governing entities in China, including the PBoC, China Banking Regulatory Commission, China Securities Regulatory Commission, and the Foreign Exchange Bureau came together … Continue reading China’s Central Bank to Develop Blockchain-Based Trade Finance Platform for the Greater Bay Area

China to Build ‘Digital Central Bank’ Infrastructure, Striving to Become the World’s Leader in Digital Currency Development

China’s Central Bank, People’s Bank of China (PBoC) is planning to look into building a digital central bank infrastructure to improve the standards of financial services in the country.  On May 18, the Chinese Central Bank’s 2020 video conference on scientific and technological work was held in Beijing. The meeting focused on the technological achievements … Continue reading China to Build ‘Digital Central Bank’ Infrastructure, Striving to Become the World’s Leader in Digital Currency Development

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

China's Tencent Forms Alliance to Boost Blockchain Development in the Country

China remains a pacesetter in the technological landscape. The Chinese government as well as Chinese companies are all in tandem with the fight to push for a whole new world of technological dominance. This developmental posture is also true of Tencent, one of China’s technologically focused firms that announced it has formed an industrial alliance … Continue reading China's Tencent Forms Alliance to Boost Blockchain Development in the Country

China Issues New ‘Bejing Action Plan’ to Accelerate the Inclusion of Blockchain in the Economy

The Chinese government issued a new “Beijing Action Plan” aiming to accelerate the inclusion of new emerging technologies in the country’s economy.     China aims to leverage new technologies including artificial intelligence (AI), 5G, industrial internet, blockchain, big data, and others to promote the steady growth of Beijing’s economy post-pandemic.     China has also encouraged the construction … Continue reading China Issues New ‘Bejing Action Plan’ to Accelerate the Inclusion of Blockchain in the Economy

Bitcoin Could Follow S&P 500’s Potential Fall After Slight Bullish Trend from US Employment Report

Bitcoin showed signs of a slight bullish uptick in its first session in July and maintained a short-term positive correlation with the S&5 500.  Bitcoin price managed to climb a little bit higher on July 1, after mirroring the upside moves the S&P 500 made on the same day. The cryptocurrency rose 1.14 percent and … Continue reading Bitcoin Could Follow S&P 500’s Potential Fall After Slight Bullish Trend from US Employment Report

Chinese Central Bank Approves the City of Chengdu for its FinTech Innovation Pilot

The Chinese central bank, People’s Bank of China has recently approved the city of Chengdu to carry out FinTech innovation supervision pilots. Chengdu, the capital of China’s Sichuan province has been added to the list of regions that could carry out FinTech-related pilots. The People’s Bank of China launched the FinTech regulatory sandbox in December … Continue reading Chinese Central Bank Approves the City of Chengdu for its FinTech Innovation Pilot

Malaysia's National Stock Exchange Conducts Blockchain PoC to Digitize Bond Market

Malaysia’s national stock exchange, Bursa Malaysia will conduct a blockchain Proof-of-Concept (PoC) dubbed “Project Harbour” to explore the DLT management of the country’s bonds market. Project Harbour is an initiative that will leverage distributed ledger technology (DLT) to digitize and grow Malaysia’s offshore bonds market—the Labuan Financial Exchange (LFX), a wholly-owned subsidiary of Bursa Malaysia. … Continue reading Malaysia's National Stock Exchange Conducts Blockchain PoC to Digitize Bond Market

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