Latest News on CHINA

CBDC

McDonald's, Subway and Starbucks Among the First to Trial China's Digital Yuan

Mcdonalds has been named along with coffee giant Starbucks as one of the 19 restaurants that will be first to try out China’s Digital Yuan in the new district of Xiong’An.

Lucas Cacioli

Apr 24, 2020

| 2 Min Read

#CHINA #CENTRAL BANK #DIGITAL YUAN #MCDONALDS #SUBWAY #STARBUCKS #DCEP #PILOT #CBDC #HEIBEI

Industry

Banking on Blockchain: ICBC Releases First-Ever White Paper on Blockchain for the Financial Sector

One of China's major banks, the Industrial and Commercial Bank of China (ICBC) has released its white paper on blockchain-based applications in the financial sector. The document is the first white paper related to blockchain technology in the financial industry. The paper also highlights the present challenges faced by the banking sector.

Sarah Tran

Apr 22, 2020

| 2 Min Read

#ICBC #CHINA #BLOCKCHAIN #WHITEPAPER #FINANCE #FINANCIAL SECTOR #BANKING

CBDC

China's Central Bank Says Digital Yuan Will Not Raise Inflation

Bank of China claims that the introduction of digital yuan will not cause the occurrence of inflation.

Nicholas Otieno

Apr 21, 2020

| 3 Min Read

#CHINA #CENTRAL BANK #DIGITAL YUAN #INFLATION #DCEP #PILOT #CBDC

Technology

Ant Financial Launches OpenChain for China's Small Businesses to Leverage its Enterprise Blockchain Consortium

Ant Financial, the parent company of AliPay, has launched OpenChain, a new blockchain platform that gives developers and small and micro enterprises (SMEs) the power to leverage the Chinese blockchain giant’s proprietary blockchain consortium and efficiently and cost effectively deploy smart contracts and create decentralized apps (DApps).

Lucas Cacioli

Apr 17, 2020

| 3 Min Read

#CHINA #BLOCKCHAIN #ANT FINANCIAL #ALIPAY #INTEROPERABILITY #CONSORTIUM #SME #SMALL BUSINESS #DAPP #OPENCHAIN

CBDC

China’s Central Bank Digital Currency DCEP to be Operational for Local Government Employees Starting in May

Local government employees in the city of Suzhou will be receiving China’s central bank digital currency, digital currency electronic payment (DCEP) in May, according to a local news outlet. China has been charging full speed with its digital currency development plans shortly after Facebook revealed its Libra stablecoin project.

Sarah Tran

Apr 16, 2020

| 2 Min Read

#CHINA #DCEP #CBDC #SUZHOU #SHENZHEN #TECHNOLOGY #DIGITAL CURRENCY #FACEBOOK #LIBRA

Industry

First Chinese State-Backed Blockchain Firm "Tainted" the Nation's Image Due to the Export of Faulty COVID-19 Medical Supplies

Tus Data Asset, a blockchain firm based in Beijing, has been banned by the Chinese government from exporting medical supplies to other countries during the coronavirus pandemic.

Sarah Tran

Apr 16, 2020

| 2 Min Read

#BLOCKCHAIN #CHINA #COVID-19 #CORONAVIRUS #PANDEMIC #MEDICAL SUPPLY

Industry

Tencent, Huawei, and Baidu Executives to Join China’s New National Blockchain Committee to Set Industrial Standards

The Chinese central government has put together a national blockchain committee to work on setting industrial standards. The Ministry of Industry and Information Technology (MIIT) issued a notice on April 13 of the “Public Notice on the Formation of a National Blockchain and Distributed Ledger Technology Standardization Technical Committee.”

Sarah Tran

Apr 14, 2020

| 2 Min Read

#CHINA #HUAWEI #TENCENT #CBDC #CHINESE GOVERNMENT #BAIDU #PEKING UNIVERSITY #MIIT

Industry

Huawei Secures Deal with One of China's Districts to Accelerate the Application of Blockchain Technology

The Nanshan government of Shenzhen, in the southern Guangdong province in China, has recently announced an agreement with electronics giant Huawei Technologies to establish an information technology center, accelerating the application of technologies including blockchain, artificial intelligence in the district.

Sarah Tran

Apr 14, 2020

| 2 Min Read

#TECHNOLOGY #HUAWEI #BLOCKCHAIN #AI #CHINA #NANSHAN #SHENZHEN

Industry

China’s Blockchain and FinTech Sector to Brace for 'Capital Winter' Even After the Coronavirus Pandemic Subsides

Investment activity in China’s tech sector has seen a massive drop in the past four months since the coronavirus outbreak has emerged from the city of Wuhan. The venture capital market has been suffering a tremendous impact on its existing drop in activity.

Sarah Tran

Apr 08, 2020

| 2 Min Read

#INVESTMENT #VC #VENTURE CAPITAL #CHINA #TECH #TECHNOLOGY #BLOCKCHAIN #FINTECH #AI #ARTIFICIAL INTELLIGENCE

CBDC

China's Pursuit of Digital Yuan "Unswerving" in Wake of COVID-19 Global Pandemic, says Central Bank

China’s central bank has further galvanised its public commitment to creating the first central bank digital currency (CBDC), a digital version of the Yuan, at an annual meeting hosted last Friday by the People’s Bank of China (PBoC) vice governor Yifei Fan.

Lucas Cacioli

Apr 07, 2020

| 3 Min Read

#BLOCKCHAIN #DCEP #PBOC #COVID19 #DIGITAL YUAN #CHINA #CENTRAL BANK #CBDC #CASHLESS

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