A property dispute involving Bitcoin was held in the internet court in Hangzhou, China on July 18, setting a new precedent by declaring that Bitcoin is virtual property with monetary value. According to the case of plaintiff Wu against defendants FXBTC and Taobao, it has been recognized that Bitcoin has the attributes of virtual property … Continue reading China Declares Bitcoin as Virtual Property with Monetary Value
The US Declares China a ‘Currency Manipulator’ The US Treasury Department officially designated China as a “currency manipulator” on Monday following the most significant stock market losses the US has seen in 2019. There was a 2.9% plunge overnight in the Dow Jones Industrial Average, Nasdaq down 3.4% while Bitcoin is up 3.2% as tweeted by Tim Draper. In a … Continue reading US Declares China a 'Currency Manipulator' while Bitcoin Sees Growth
The world’s second-largest bitcoin mining equipment producer, Canaan Inc., raised $90 million during its initial public offering (IPO). According to Bloomberg, the Chinese company based in Hangzhou sold 10 million American depositary shares at the $9 apiece on Nov. 20. The filings with the US Securities and Exchange Commission (SEC) show that the shares have … Continue reading World's Second Largest Bitcoin Mining Company Raises $90M in US IPO
In the first-ever Blockchain Service Network Partner Conference hosted by the National Information Center and Hangzhou Municipal People’s Government in China, it was announced that cryptocurrency exchange Huobi had joined the Blockchain Services Network (BSN), an alliance initiated by the State Information Center (SIC). The alliance also welcomed China UnionPay, China Merchants Bank International, WeBank, and Chinese telecom giants, … Continue reading Huobi Joins State-Backed Blockchain Alliance in China to Provide Blockchain Infrastructure Services
Smart courts in China are reportedly leveraging a range of innovative technologies to settle legal cases. The online judiciary courts utilize big data, cloud computing, artificial intelligence (AI) and blockchain. As reported by Xinhua news agency on Dec. 5th—over 3.14 million litigation activities from March to October of this year have been settled through the blockchain … Continue reading Chinese Smart Courts Leveraging Blockchain and AI
The Chinese government’s State Information Center revealed its plans for its national Blockchain Service Network (BSN), aiming to provide small businesses and individuals to operate blockchain applications easily without using a private blockchain network. Tang Sisi, the Deputy Director of the Smart City Development Research Center of the State Information Center said that the BSN will … Continue reading China’s Low-Cost National Blockchain Service Network to Launch in April
According to a study from Xinhua, a Chinese government-run financial media, and Rhino Data, revealed that the total amount spent in investment deals pertaining to blockchain is responsible for 24 billion yuan ($3.6 billion). On Jan. 15, an official figure has been released by Xinhua, showing that the figures mentioned earlier have declined by 40.8%, within one year. … Continue reading With 245 Investments and Financing Deals in Blockchain, Will China Carry on Its Expenditure in the Future?
Amid the coronavirus epidemic that has been ravaging China, there have been concerns raised about how this would affect the growth of technology within the region. The country has since turned to the use of blockchain technology to keep track of the supply of virus prevention materials, manage medical data, and in getting public opinion. … Continue reading Blockchain Increasingly Leveraged by China to Combat Coronavirus Outbreak
Alibaba has recently announced its integration of a full-link traceability blockchain system into its import e-commerce platform, Kaola. The Chinese e-commerce giant has previously acquired NetEase’s Kaola cross-border e-commerce platform in September 2019 for $2 billion. Alibaba Group’s CEO previously said that the company is confident about the future of China’s import e-commerce market, “which … Continue reading Alibaba Integrates New Blockchain System With its E-Commerce Platform to Enhance Traceability
Looking ahead to Q2 2020, what are the top 5 blockchain market events to watch? This article provides a simple guide for you! Bitcoin Halving Considered as the most important market event for Bitcoin, Bitcoin halving is likely to take place in May 2020. Bitcoin halving occurs once in every 210,000 blocks produced (approximately every … Continue reading What are the Top 5 Blockchain Market Events to Watch in Q2 2020?