Search Results for: Xinhua

Chinese State Media Agency Xinhua to Issue First News NFT Collectables

Amid the strict restriction of cryptocurrency activities in China, Chinese state media agency Xinhua will issue its first news non-fungible tokens (NFT) collection on Friday at 8 p.m. Per the announcement from the news agency on Wednesday, this is the first international edition news collection, free to access to the public. The official website reveals … Continue reading Chinese State Media Agency Xinhua to Issue First News NFT Collectables

China's Shenzhen Special Economic Zone Now Supports Digital Currency Research

The Central Committee of the Communist Party of China recently announced that the Shenzhen special economic zone would be supporting research and the promotion of digital currencies.   Shenzhen, a major city in China in the Guangdong area, is China’s first special economic zone.   According to China’s state media Xinhua, the announcement stated: “The Central Committee of the … Continue reading China's Shenzhen Special Economic Zone Now Supports Digital Currency Research

China Construction Bank Announces Updates of Blockchain Platform After $50B Transacted

One of China’s four largest banks, China Construction Bank (CCB) has officially released the second version of its blockchain platform for trade finance, reaching 360 billion yuan ($50 billion) in cumulative transaction volume.  CCB announced the release of “BCTrade 2.0,” focusing on digitizing trade and financial services between 54 domestic and overseas CCB branches and 40 external … Continue reading China Construction Bank Announces Updates of Blockchain Platform After $50B Transacted

Official State-Run Publication Reports Blockchain Development in China to Reach $2 Billion In 2023

Chinese publication, Xinhua, reports that blockchain technology will reach $2 billion in 2023, and blockchain development in China is expected to increase by a compound annual growth rate of 65.7% from 2018 to 2023. A study conducted by American intelligence firm, IDC, stated that a large proportion of China’s blockchain spending was headed towards the … Continue reading Official State-Run Publication Reports Blockchain Development in China to Reach $2 Billion In 2023

China’s Central Bank Takes A Step Forward to Regulate Blockchain

China’s central bank, the People’s Bank of China is set to create industry standards across the financial technologies sector, including blockchain.   According to a report from the Xinhua News Agency, the PBoC Vice President, Yifei Fan said that the central bank is aiming to regulate new technologies in the financial sector more extensively. He added that blockchain is one … Continue reading China’s Central Bank Takes A Step Forward to Regulate Blockchain

Huobi Joins State-Backed Blockchain Alliance in China to Provide Blockchain Infrastructure Services

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

Chinese Smart Courts Leveraging Blockchain and AI

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

With 245 Investments and Financing Deals in Blockchain, Will China Carry on Its Expenditure in the Future?

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?

What are the Top 5 Blockchain Market Events to Watch in Q2 2020?

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?

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

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