Search Results for: Shenzhen

Blockchain Deals Are Shifting from the US to China, CB Insights Report

 Venture Capital(VC) deals in blockchain have been dominated by the U.S and China over the past four years according to a new report by CB Insights.   According to The Blockchain Report 2020 by CB Insights, while both countries remain the dominant blockchain locations, there has been a dramatic migration East. In 2015 around 51% of blockchain … Continue reading Blockchain Deals Are Shifting from the US to China, CB Insights Report

China’s Central Bank Digital Currency DCEP to be Operational for Local Government Employees Starting in May

Local government employees in the city of Suzhou will be receiving China’s central bank digital currency, digital currency electronic payment (DCEP) in May, according to a local news outlet. China has been charging full speed with its digital currency development plans shortly after Facebook revealed its Libra stablecoin project.  Mu Changchun, the Director-General of the … Continue reading China’s Central Bank Digital Currency DCEP to be Operational for Local Government Employees Starting in May

Huawei Secures Deal with One of China's Districts to Accelerate the Application of Blockchain Technology

The Nanshan government of Shenzhen, in the southern Guangdong province in China, has recently announced an agreement with electronics giant Huawei Technologies to establish an information technology center, accelerating the application of technologies including blockchain, artificial intelligence in the district. With joint efforts between the Nanshan government and Huawei will explore FinTech solutions and development … Continue reading Huawei Secures Deal with One of China's Districts to Accelerate the Application of Blockchain Technology

Tencent, Huawei, and Baidu Executives to Join China’s New National Blockchain Committee to Set Industrial Standards

The Chinese central government has put together a national blockchain committee to work on setting industrial standards. The Ministry of Industry and Information Technology (MIIT) issued a notice on April 13 of the “Public Notice on the Formation of a National Blockchain and Distributed Ledger Technology Standardization Technical Committee.” The committee would be made up … Continue reading Tencent, Huawei, and Baidu Executives to Join China’s New National Blockchain Committee to Set Industrial Standards

First Chinese State-Backed Blockchain Firm "Tainted" the Nation's Image Due to the Export of Faulty COVID-19 Medical Supplies

Tus Data Asset, a blockchain firm based in Beijing, has been banned by the Chinese government from exporting medical supplies to other countries during the coronavirus pandemic.  As the first blockchain technology-based firm backed by the state capital, the company has been accused of tainting the nation’s image by selling poor-quality products. Controlled by the … Continue reading First Chinese State-Backed Blockchain Firm "Tainted" the Nation's Image Due to the Export of Faulty COVID-19 Medical Supplies

China's Central Bank Says Digital Yuan Will Not Raise Inflation

China’s central bank has been secretive and silent when it comes to the testing of its national digital currency, which has piqued the curiousity of its citizens. A bank representative recently appeared at a state-owned television company responding to such public curiosities and gave an explanation of how the digital yuan would function. Race to … Continue reading China's Central Bank Says Digital Yuan Will Not Raise Inflation

Banking on Blockchain: ICBC Releases First-Ever White Paper on Blockchain for the Financial Sector

One of China’s major banks, the Industrial and Commercial Bank of China (ICBC), has released its white paper on blockchain-based applications in the financial sector. The document is the first white paper related to blockchain technology in the financial industry. The paper also highlights the present challenges faced by the banking sector. ICBC has previously … Continue reading Banking on Blockchain: ICBC Releases First-Ever White Paper on Blockchain for the Financial Sector

McDonald's, Subway and Starbucks Among the First to Trial China's Digital Yuan

Mcdonalds has been named along with coffee giant Starbucks as one of the 19 retail firms and restaurants that will be first to try out China’s Digital Yuan in the new district of Xiong’An. On April 22, the Reformation and Development Commission of the Xiong,An district convened to discuss the pilot for China’s Digitial Currency … Continue reading McDonald's, Subway and Starbucks Among the First to Trial China's Digital Yuan

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

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

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