Tag Archives: people bank of china

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,...

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...

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...

As cryptocurrency adoption continues to spread all over the world, several entities including corporate organizations and governments are gradually catching the crypto bug. Based on a report from a French financial media platform Les Echos, France has now joined a list of countries that have shown interest in the crypto sector and have taken it a step further with a decision to float their own digital currency. France will now test its crypto sometime in the first quarter of next year.During...

The past week has been anything but positive for the cryptographic industry. Ethereum, the second-largest market capitalization cryptographic asset, also recorded an 8% dump, marking a downward period for the market. Incidentally, the market fell just after the People’s Bank of China revealed that the central bank would close all local encryption centers.Speaking of Ethereum, despite the drop, ETH’s fees have increased by 21.6% over the past week. As observed in the main markets, the increase...

On Wednesday most cryptocurrencies were trading in red again including Bitcoin (BTC) that, in the last 24 hours couldn’t turn its trace. Bitcoin closed on Tuesday the day at the $7,198 price mark, at which point the world’s largest crypto coin found an intra-day high on Wednesday of $7,227, before moving down again towards its current trading price near $6,945 still falling by 3.51 at 11:53 am CET. Among the possible influencing factors we should mention the recent Upbit hacker attack.BTC is...

The ex-president of the People’s Bank of China Xiaochuan Zhou said that one of China’s main goals to be done through its central bank digital currency is to make retail payments easier and more available to people.Speaking at the Caixin Hengqin Forum in Zhuhai, Zhou commented that the country will work on making the retail use of digital payment for the digital yuan as simple as possible.He said:“There are two goals for international digital currencies. The first one, which is also what China...

As far as the cryptocurrency and blockchain sector is concerned, China has recently shot to the forefront and has been making headlines for a few consecutive weeks. The most recent, however, is an official publication that outlines related projects in the country, with a specific focus on the more illicit ones. Written by a joint team of financial and technology bodies in the country, the “Bluebook of Blockchain” was released.The agencies – the People’s Bank of China (PBoC), the Chinese...

Coinspeaker The People’s Bank of China Set to Create New Standards for Fintech and Blockchain The People's Bank of China has a plan to create a new set of standards for both fintech and blockchain industries in the nearest future. The People’s Bank of China Set to Create New Standards for Fintech and Blockchain Continue reading at Coinspeaker

In a recent development, Huawei, the Chinese-owned telecommunications giant, has worked out an agreement with the People’s Bank of China’s Digital Currency Research Unit. This was made known on Nov. 4 via an announcement on the company’s WeChat channel. The announcement didn’t offer any additional information concerning the agreement, neither did it suggest any joint research on digital currencies or blockchain technology.Huawei Fully Invested in BlockchainFor the past few years, Huawei has...