Search Results for: Tianjin

China to Prioritize Testing its Central Bank Digital Currency in Wealthier Cities First

China is planning a more extensive expansion of the testing of its central bank digital currency (CBDC) after reportedly starting its first tests in the Greater Bay Area. Chinese experts believe that the financial technology industry in the southern province of Guangdong is fairly developed and that it has a “natural advantage” in carrying out … Continue reading China to Prioritize Testing its Central Bank Digital Currency in Wealthier Cities First

China’s CBDC Testing Expansions Exaggerated, Digital Currency Details Revealed

China has been reportedly continuously expanding the trials of its central bank digital currency (CBDC) significantly, and in the wealthier cities in the country. China’s CBDC, also known as the digital currency electronic payment (DCEP), has been said to be “ready” for some time, however, the exact date of its rollout has not been set. … Continue reading China’s CBDC Testing Expansions Exaggerated, Digital Currency Details Revealed

Colombian Ministry of Information Technology Prioritize Public Sector Blockchain and Crypto Payment Solutions

The Colombian Ministry of Information Technology and Communications (MinTIC) believes blockchain and DLT solutions could benefit nearly a dozen of the country’s public services and have released a draft to guide sector implementation. Colombia’s MinTIC is calling for around ten public sectors to adopt blockchain solutions with a new draft guide entitled, “DLT/Blockchain—Guide for the … Continue reading Colombian Ministry of Information Technology Prioritize Public Sector Blockchain and Crypto Payment Solutions

China's DCEP Testing Limited to Small Retail Transactions for Now

The People’s Bank of China (PBoC) has affirmed that the testing of its flagship Digital Currency Electronic Payment (DCEP) project is concentrated only on small scale transactions for now. As reported by the Global Times, the clarification came in order to quell rumors making the rounds with respect to the scale of the DCEP phase … Continue reading China's DCEP Testing Limited to Small Retail Transactions for Now

Bank of England is for Stablecoin and CBDC, but Says ‘Bitcoin Has No Connection at All to Money’

In a virtual conference, the governor of the Bank of England Andrew Bailey shared his views on Bitcoin and said that the cryptocurrency “had no connection at all to money.” Though the central bank governor appeared to disfavor Bitcoin (BTC) as a payment method, he did reiterate that there were many benefits to adopting central … Continue reading Bank of England is for Stablecoin and CBDC, but Says ‘Bitcoin Has No Connection at All to Money’

Chinese E-Commerce Giant JD.com to Build CBDC Digital Wallet to Support China’s DCEP

Chinese e-commerce giant JD.com has recently partnered with the People’s Bank of China Digital Currency Research Institute to build mobile apps and wallets to support China’s central bank digital currency (CBDC).  For China’s CBDC, digital currency electronic payment (DCEP), the two parties have reached a strategic agreement to develop mobile and blockchain technology-based platforms. JD.com … Continue reading Chinese E-Commerce Giant JD.com to Build CBDC Digital Wallet to Support China’s DCEP

China’s Central Bank Digital Currency DCEP Has Been Processed in Pilot Transactions Worth 1.1 Billion Yuan

In the race to be the first country to launch a functional central bank digital currency, China has been ahead of its counterparts, as it has already begun experimenting with its digital currency. China Makes Progress with Its DCEP The central bank digital currency (CBDC) has been developed by the People’s Bank of China (PBOC) … Continue reading China’s Central Bank Digital Currency DCEP Has Been Processed in Pilot Transactions Worth 1.1 Billion Yuan

China’s $1.5 Million Digital Yuan Giveaway in Shenzhen Left Analysts Excited, Citizens Unimpressed

As part of China’s rollout of its central bank digital currency (CBDC), the government had a $1.5 million giveaway of digital yuan to its citizens in Shenzhen. However, users have said that they preferred existing payment tools such as the existing Alipay app.  As of Oct. 18, 47,573 out of 50,000 lottery winners have already … Continue reading China’s $1.5 Million Digital Yuan Giveaway in Shenzhen Left Analysts Excited, Citizens Unimpressed

China to Strengthen Artificial Intelligence Development with New Legislation

China has included a draft AI law in its legislative agenda for the State Council in 2023, which will be reviewed by the National People’s Congress. The goal is to improve AI research, development, and innovation, foster an open innovation ecosystem, and accelerate AI deployment in scientific research, healthcare services, cultural creativity, and ecological governance. … Continue reading China to Strengthen Artificial Intelligence Development with New Legislation

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