Crypto in China

Recent Chinese reports indicate that a new cryptocurrency scam, resembling the notorious PlusToken, has been brought to trial this week. Dubbed WOTOKEN, allegedly scammed over 700,000 users and absorbed more than $1 billion worth of Bitcoin and other digital assets.The New Chinese Threat: WOTOKENAccording to local reports, the trial began on May 14th in the People’s Court of Binhai Country, Yancheng City, against six defendants allegedly operating the WOTOKEN project. More specifically, the...

The giant mining firm, BHP Billiton, has reportedly completed its first yuan-denominated transaction of iron ore utilizing blockchain technology. The company sold materials worth over $14 million to China Baoshan Iron & Steel Co LTD (Baosteel) – the listed arm of the world’s biggest steelmaker China Baowu Steel Group (Baowu).Blockchain Utilized For Iron Ore SaleNearly four years ago, the massive mining firm revealed its plans to begin employing the Ethereum blockchain to improve the...

Bitcoin Mining Map Das Cambridge Centre for Alternative Finance publiziert immer wieder sehr wertvolle Studien über das Bitcoin-Netzwerk. Insbesondere im Bereich Stromverbrauch ist die Forschung die Universität von Cambridge federführend. Daher ist folgende Publikation absolut spannend und brisant: Eine Karte die aufzeigt, wo auf der Welt die Bitcoin Mining Geräte verteilt...

Bitcoin’s halving is right around the corner. It will slash the block reward miners get from minting new bitcoins in half and potentially reduce the supply of the cryptocurrency on the market. Historically, this has been a major bullish catalyst for Bitcoin as its price has so far increased substantially after the two previous halvings.The last couple of days have been nothing but impressive for the leading cryptocurrency as it managed to touch $9,500 before retracing to where it currently...

Die Corona-Pandemie zeigt deutliche Auswirkungen auf den chinesischen Goldmarkt. Der Preis für den glänzenden Rohstoff ist stark gestiegen und die Nachfrage hatte sich deshalb im ersten Quartal um die Hälfte reduziert. Die chinesische Goldproduktion hat aktuell ebenfalls unter der Krise zu leiden. In Deutschland können die Goldhändler sich aktuell kaum vor Kundenanfragen retten, ganz im Gegensatz zu...

The project goes by the name Tencent Blockchain Accelerator. It is to be a highly important gear-wheel in the Tencent Industrial Accelerator’s endeavor to boost the digital service in the future.Blockchain Accelerator to Mentor 30 New ApplicantsLaunching the daring project, Tencent is aiming at 30 blockchain-oriented companies, developing and providing the necessary tech activities. The multi-dimensional service platform is based on technology, scenarios, business opportunities, and is...

Chinas Wirtschaft ist in den letzten Jahren stark gewachsen und mittlerweile zur Zweitgrößten der Welt geworden. Wirtschaftsexperten nehmen an, dass China eines Tages eine neue weltweite Ordnung herstellen könnte und die globale Finanzherrschaft an sich reißt. Die chinesische Zentralbank wird Berichten zufolge noch in diesem Jahr eine Kryptowährung auf der Grundlage des Yuan herausgeben. Laut einem...

China has long been touting the idea of its own national digital currency, and now it looks like the token is being tested through American businesses.China Is Unveiling Its New Digital YuanAmong the ventures that have agreed to participate include Seattle-based coffee king Starbucks, as well as fast food restaurants like McDonald’s and Subway. Starbucks is interesting in that the company has long been a heavy advocate of crypto. It was one of the first enterprises to join hands with Bakkt,...

Crypto scams are nothing new, and now several people are finding themselves facing jail time and other harsh penalties for allegedly taking part in a series of them within China and Malaysia.Crypto Scams Keep HappeningOfficials from the latter country have arrested approximately 14 separate individuals for their alleged roles in a series of crypto scams that took place over the span of several months. All individuals arrested are Chinese nationals that were living and working out of Malaysia,...

Testing for Chinese central bank digital currency (CBDC) is conducted in the Xiongan New Area, North China’s Hebei Province, a new report said. Trial runs include catering and retail industries such as the massive U.S. chains Subway, Starbucks, and McDonald’s.China Trials Its CBDCNews regarding the Chinese digital currency has been emerging in the past few weeks more frequently than before. The latest local report on the matter claims that testing had started in Xiongan New Area. More...