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Tsinghua University Opens First Metaverse Lab in China

Tsinghua University has launched China’s first metaverse laboratory, dedicated to studying the growth and expansion of the new digital industry in the country, according to a report by The Crypto Times. The metaverse laboratory, “Metaverse Culture Laboratory”, was founded in a partnership between Tsinghua’s School of Journalism and Communications and Chinese Online (COL) – China’s … Continue reading Tsinghua University Opens First Metaverse Lab in China

IBM Food Trust: Cutting Through the Complexity of the World’s Food Supply with Blockchain

Alan Lim, one of the initial members of the IBM Worldwide Blockchain team, heads IBM Blockchain Labs in the Asia Pacific. Blockchain.News sat down with Lim to learn more about IBM’s blockchain initiatives, including its Trust Your Supplier and Food Trust platforms. IBM Food Trust was first launched in August 2017, with 10 Foundation members … Continue reading IBM Food Trust: Cutting Through the Complexity of the World’s Food Supply with Blockchain

The Issuance of China's CBDC On The Horizon, According to Insiders

The issuance of central bank digital currencies (CBDCs) has been gaining traction as various nations have shown interest. The People’s Bank of China (PBoC), China’s central bank, has finished the development of a CBDC’s basic function and relevant laws are being drafted to set the ball rolling for its circulation. China seeks to be at … Continue reading The Issuance of China's CBDC On The Horizon, According to Insiders

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

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

WeBank Blockchain Patents Filings Rank Third Highest Globally for 2019

China’s WeBank is leading the global banking community in banking technology patents jumping ahead of US giants JP Morgan Chase and Bank of America with 632 filed patents in 2019. The majority of patents filed by WeBank focused on ABCD technologies (AI, Blockchain, Cloud, Computing, Big Data). According to a release on 24 April, WeBank also … Continue reading WeBank Blockchain Patents Filings Rank Third Highest Globally for 2019

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

China’s Tencent Will Invest 500 Billion Yuan in Blockchain and New Technology Infrastructure

Chinese tech giant Tencent Holdings, the owner of China’s messaging platform WeChat has announced that the company will be investing 500 billion yuan ($70 billion) in the next five years in emerging technologies including blockchain, artificial intelligence (AI), cloud computing, and cybersecurity. Tencent is aiming to strengthen the development of FinTech in China, following the … Continue reading China’s Tencent Will Invest 500 Billion Yuan in Blockchain and New Technology Infrastructure

Gambling Rings Use Cryptocurrency to Transfer $145.5 Billion of Funds Outside China Every Year, Official Report Reveals

According to a senior official at the Ministry of Public Security, funds worth more than 1 trillion yuan ($145.5 billion) flow out of China into gambling activities each year. Liao Jinrong, the director-general of the International Cooperation Department under the Ministry of Public Security, said that gangs operating illegal gambling activities used cryptocurrencies to collect … Continue reading Gambling Rings Use Cryptocurrency to Transfer $145.5 Billion of Funds Outside China Every Year, Official Report Reveals