Category: China

China’s blockchain project BSN to pilot global CBDC system in 2021

January 15, 2021

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China is building a new system to integrate international central bank digital currencies as part of its national blockchain project, the BSN. 2695 Total views 18 Total shares The Chinese national blockchain project, the Blockchain Service Network, is planning to pilot integration with global central bank digital currencies. According to a Jan. 15 blog post, […]

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US Fed: CBDC a ‘very high priority’ to combat bad private sector money

January 15, 2021

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The United States Federal Reserve needs its own digital currency to protect against a possible overnight proliferation of stablecoin technology, says Fed chairman Jerome Powell. 7893 Total views 49 Total shares Cryptocurrency stablecoins could become systemically important overnight, says United States Federal Reserve Chairman Jerome Powell, and that’s why the Fed is determined to get […]

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Chinese Hospital Issues First Electronic Bill on Blockchain

January 13, 2021

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Hainan is one of the few provinces that have successfully incorporated blockchain technology into their public institutions’ online administrative platforms. Great Wall of China(Shutterstock) Jan 13, 2021 at 3:43 p.m. UTCUpdated Jan 13, 2021 at 3:58 p.m. UTC Chinese Hospital Issues First Electronic Bill on Blockchain A hospital in China sent the first electronic bill […]

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US-Listed Chinese Lottery Firm Plans $14.4M Move Into Bitcoin Mining

January 11, 2021

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Jan 11, 2021 at 2:44 p.m. UTCUpdated Jan 11, 2021 at 2:47 p.m. UTC US-Listed Chinese Lottery Firm Plans $14.4M Move Into Bitcoin Mining Chinese sports lottery firm 500.com (NYSE: WBAI) announced Monday that it has entered into a purchase agreement to acquire bitcoin mining machines. 500.com said it expects to issue $14.4 million-worth of […]

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Chinese Bank Trials Digital Yuan Services at ATMs: Report

January 11, 2021

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Jan 11, 2021 at 12:49 p.m. UTCUpdated Jan 11, 2021 at 2:37 p.m. UTC Chinese Bank Trials Digital Yuan Services at ATMs: Report The Agricultural Bank of China is said to have enabled a number of ATMs around the city of Shenzhen to offer trial services for the digital yuan. AgBank, one of the “big […]

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State-owned Chinese bank rolls out ATMs for digital yuan

January 11, 2021

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The Agricultural Bank of China has launched an ATM pilot program that enables citizens to convert cash and savings to and from the digital yuan. 6483 Total views 48 Total shares China’s efforts to develop a centrally issued digital currency took a leap forward on Sunday as the state-owned Agricultural Bank of China launched the […]

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Trump bans Chinese payment apps, including AliPay and WeChat Pay

January 6, 2021

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The trade war with China homes in on the country’s thriving digital payments industry. 7251 Total views 46 Total shares With just two weeks left in office, President Donald Trump has sent out a new executive order targeting Chinese payment apps.  The Tuesday order bars United States citizens or people located in the U.S. from using nine […]

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Google Cloud Seeks Blockchain Expert for China Division

January 6, 2021

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Jan 6, 2021 at 12:16 p.m. UTC Google Cloud(Adam Berry/Getty Images) Google Cloud Seeks Blockchain Expert for China Division Cloud computing giant Google Cloud is seeking to hire a “blockchain business development manager” to be based in China. According to a post, Google Cloud is hiring a manager for its team to sell enterprise accounts […]

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Former Canaan Directors to Guide Chinese Gaming Firm’s Pivot to Crypto Mining

January 5, 2021

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Jan 5, 2021 at 11:15 a.m. UTCUpdated Jan 5, 2021 at 11:19 a.m. UTC Canaan mining machine(Canaan) Former Canaan Directors to Guide Chinese Gaming Firm’s Pivot to Crypto Mining U.S.-listed Chinese gaming company The9 (NASDAQ: NCTY) has announced plans to enter the cryptocurrency mining space. In an SEC filing, The9 said it had signed a […]

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Selected Shenzhen residents to get lottery ‘red envelopes’ with digital yuan

January 4, 2021

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Winners of the city’s lottery will have 10 days to spend their gifted digital currency at any of 10,000 supported merchants. 7090 Total views 23 Total shares Programs to pilot and encourage widespread adoption of China’s central bank digital currency, known as Digital Currency Electronic Payment or the digital yuan, are continuing apace. As a […]

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