Tag Archives: China

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...

Facebook’s future cryptocurrency project scaled back this week. At the same time, local Chinese reports indicate the country is advancing notably on its CBDC. Summarized information from this past week alone suggests the nation could be pushing the digital currency release as a response to Libra’s change of plans. Libra’s Less Ambitious Plans Facebook shook the world last year, announcing a “single global digital currency” dubbed Libra. Per Mark Zuckerberg, CEO of the social media giant,...

Some of the biggest Chinese companies have been tapped to be part of the government’s blockchain project. Among the picked are tech moguls like the e-commerce giant JD, the telecom equipment manufacturer Huawei Technologies, social media and tech Tencent Holdings, fintech firm Ant Financial Services, and search giant Baidu. China’s MIIT Assembles Blockchain Powerhouse As The Ministry of Industry and Information Technology (MIIT) announced earlier this week, the new “team” will go by the name...

China’s anticipated central bank digital currency (CBDC) may be closer to its launch, as per a screenshot circulating the internet. While testing should be entirely confidential, the leaked photo is hinting the test version of a mobile app developed by a large state-owned bank.An App For China’s CBDCInformation from a few weeks ago indicated that the People’s Bank of China (PBoC) had finished the development processes on its CBDC. As Cryptopotato reported, PBoC and all of the associates on...

China has always been in the spotlight when it comes to cryptocurrencies, despite the country’s controversial legislation on the matter.Last year, President Xi Jinping urged for further investments in blockchain-based technology, causing Bitcoin to mark an increase upwards of 40% in less than 24 hours. Now, however, regulations seem to be tightening up, and this will cause some changes in the cryptocurrency landscape, according to Changpeng Zhao, CEO at Binance.Cryptocurrency Operators To...

While reviewing the upcoming distribution of digital assets left in Cryptopia storage, Judge David Gendall at the High Court in New Zealand classified Bitcoin and all cryptocurrencies as “properties.” The decision means that users of the exchange are allowed to receive the remaining funds.New Zealand Court: Bitcoin Is PropertyCryptopia was a New Zealand-based cryptocurrency exchange with a significant number of users. In January 2019, however, the platform suffered two back-to-back hacks. The...

Die Shanghai Gas Group ist ein Energieversorguns-Unternehmen und arbeitet gemäss aktueller Medienmitteilung weiter mit VeChain an der Entwicklung und der Einführung eines blockchain-geschalteten Energieprojekts zusammen. Die Zusammenarbeit dient dazu, die Geschäftsprozesse zu optimieren, die Betriebskosten zu senken, die Effizienz der Lieferketten zu verbessern und ein vertrauensvolles „Energie-als-Dienstleistungs“- Ökosystem aufzubauen. Als eine der führenden Kräfte für die...

An alliance consisting of Chinese government groups, banks, and technology companies will launch the Blockchain-based Service Network (BSN) in April. The innovative platform will be among the first maintained by a central government. It will allow participants to operate on top of it, without having to design a new network from scratch.Blockchain-Based Service Network Comes In AprilAnnounced in the middle of October 2019, only a week before President Xi Jinping said China should invest more...