Sunday , January 23 2022
Home / Tag Archives: people bank of china

Tag Archives: people bank of china

Alibaba and Tencent Stocks Thrive amid Coronavirus, China Aims to Become Stabilizing Force

Alibaba and Tencent stocks indicate resilience amid the coronavirus stock market effect. China, the first country to be hit by the deadly coronavirus in early December, now aims to be a stabilizing force in the global market.Coronavirus has almost become the order of the day in mainstream media since it was first reported in Wuhan, China. The virus has pushed beyond the ground zero to infect countries almost in all continents. As a result, it’s not only the human health status that has been...

Read More »

Bitcoin Price Positively Reacts to Asia Stocks Crash amid Coronavirus

Most of the cryptos grew on Monday amid terrible trading in Asia. After the extended Chinese New Year shutdown, mainland markets finally opened for trading. However, it was not going as it was expected.Bitcoin price was rising as well. However, at the time of writing, it was falling 0.43% to $9,347.Major stock markets in the Asia-Pacific region tumbled by the most since an equity bubble burst in 2015. They resumed trading Monday, in the first opportunity for many investors in China to react...

Read More »

Tencent Sets Eyes on Digital Currency Research Group

Tencent, the Chinese technology giant that operates the social media app WeChat, has announced that it is planning to develop a digital currency research group. This research group will have the responsibility of further advancing various blockchain technology research projects. According to fresh reports by iFeng, the company had released an official statement to its employees telling them that it is seeking someone to head the proposed research group.The yet-to-be-established digital...

Read More »

The Main Property of Cash is Anonymity, How about Stablecoins?

Cryptocurrency anarchists want to drag the cash to the Internet by saving the user’s ability to transact anonymously. The anarchists use cryptography for such purpose. Contrary to that, the governments and banks want all the payments to be traceable. This is what happens when people use bank cards, deposits, personal accounts, etc.From what we’ve seen in the mainstream financial media in recent months, global players like the European Central Bank, the People’s Bank of China, want to invent...

Read More »

China’s Digital Currency Is at the Final Stage of Development

It seems China was really serious when talking about its digital currency. Even though China was trying to forbid cryptocurrency mining and trading, for the last three months it is in the process of creating its own.Head of the People’s Bank of China’s (PBoC) Digital Currency Research Institute, Mu Changchun, stated that the country’s digital yuan is finally ready for trials. The central bank digital currency (CBDC) will, as per the announcement, not come as a volatile asset like Bitcoin or...

Read More »

As China Looks to Become World’s Leader in Blockchain, What’s Next for 2020?

Blockchain technology by most standards is still quite nascent. Regardless, there are already quite a few impressive applications of the technology, with constant efforts at development. The first and probably the most popular use of blockchain is the Bitcoin cryptocurrency, which went live over a decade ago. However, since then, applications have been seen in several different sectors including finance and healthcare. Because it is still somewhat new, there is still a lot of room for...

Read More »

World’s Second-Largest Bank CCB Introduces Its Blockchain-Based Refactoring Platform

Based on the recently revealed information, we all can make a conclusion about the passion of the second-largest bank by assets the Chinese Construction Bank (CCB) to blockchain. Sources indicate that CCB has introduced a refactoring platform that is to run totally on its own blockchain. The platform is aimed at corporate clients in the business of factoring and its goal is to improve operations and reduce risks and costs at the same time.Factoring is a fund-raising model where invoices from...

Read More »

Market Analysts Forecast International Stocks over U.S. Stocks in 2020

Knowledge of the U.S. stock markets has shown that over the last decade, there has been consistent growth in general, ensuring that the market remains one of the best places to invest since 2010. However, if strategists and market analysts are to be believed, the U.S. market could soon lose the superiority it currently enjoys.In the last ten years, U.S. stocks have been impressive, especially as international stocks, on the other hand, have sorely disappointed its players. The S&P 500,...

Read More »

People’s Bank of China Is to Try Out Its New Digital Currency in Two Cities

Sequel to earlier reports that its digital currency was in the works, the Chinese are reportedly set to test its new digital currency electronic payment (DC/EP) in two cities of Shenzen and Suzhou. Sources further indicate that the People’s Bank of China (PBoC) will become the first Central Bank in the world to introduce its digital currency. It has also further emerged that the PBoC is set to work with seven state-owned corporate entities to run this test: three telecoms companies and four...

Read More »

Deutsche Bank’s Imagine 2030 Report Shows Crypto to Replace Fiat in the Next Decade

Cryptocurrencies continue to make strong inroads in the global economy as even the global governments and banks have started experimenting with crypto assets. In its latest report dubbed Imagine 2030, Deutsche Bank analyst Jim Reid said that cryptocurrencies will dominate and replace fiat currencies over the next decade. With economic uncertainty brewing up all across the globe, Reid believes that government-backed fiat currencies won’t be sustainable. He said that there is a surge in demand...

Read More »