China’s Qinghai Province Instructs Bitcoin Mining Operations to Shut Down

Following the report that indicates specific Chinese miners in the Xinjiang region were told by officials to shut down, another agency in Qinghai has informed miners to cease operations in a recently published government mandate.

Shanghai to Hand Out $3 Million in Digital Yuan Lottery

As part of government efforts to get the digital yuan going, authorities in Shanghai will distribute $3 million worth of the central bank-issued currency among residents of Shanghai.

Shanghai Man: 'Green-light' for miners? CZ not responsible for BSC, Uniswap frauds on TV

CZ claims Binance didn’t really make Binance Smart Chain, Beijing to distribute $6.2 million in free digital yuan, and miners speak out about clean energy mining This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

Beijing to Disperse $6 Million in Digital Yuan in a Red Envelope Lottery

China’s central bank digital currency (CBDC) continues to gain further ground as the Beijing Local Financial Supervision and Administration Bureau revealed 40 million worth of the country’s digital yuan ($6.3 million) will be distributed to Chinese citizens.

China Hands Out $6.2M for Digital Yuan Tests as Russia Says CBDC are the Future

China's authorities with came with a decision to hand out another sizeable amount of $6.2 million in digital currency to citizens of Beijing.

China to Gives Away $6.2 Million in Latest Digital Currency Trial

200,000 residents of Beijing will be able to win a “red envelope” containing 200 yuan worth of China’s central bank digital currency.

China to hand out $6.2M in new digital yuan trial in Beijing

Beijing residents should apply to participate in the lottery until midnight on June 7. The Chinese government is launching another digital yuan lottery to stimulate its ongoing digital currency trials, this time in the capital of Beijing.The Beijing Local Financial Supervision and Administration officially announced Tuesday that the government will distribute 40 million digital yuan ($6.2 million) to Beijing residents as part of a new digital currency pilot.Starting in June, the program features “red envelopes” — a traditional way of gifting money — with each providing a free online wallet containing 200 digital yuan ($31).

$6.2 Million Worth of Digital Yuan is Officially Piloted in Beijing

The Chinese digital renminbi is officially piloted in the capital of China-Beijing.

Beijing Readies USD 6.2m Digital Yuan Trial Amid Claims Main Rival Is Bitcoin

China’s digital yuan project appears to be entering the final stages of its pilot, with yet another giveaway planned – this time in the nation’s capital Beijing. Like previous giveaways in cities like Shenzhen and Chengdu, the tokens will be distributed in a lottery – with a fortunate few residents given “lucky” red digital envelopes containing access to

Tiger Brokers and Futu to Offer Crypto Trading Services Outside China

Two Chinese online brokerages have set out to enter the global crypto trading market.

China’s Mining Crackdown Continues – But Some Sense Hope

Beijing-backed anti-mining activities continue to gather pace in the Middle Kingdom, with major players apparently exiting the market and trading platforms such as BitMart moving to block Mainland Chinese IP addresses – but some miners in the nation have not given up on the industry, and even sense a new opportunity. Yesterday, IT Home reported, the crypto platform BitMart

Digital yuan conceived to counter Alipay-like platforms, says former PBoC executive

Chinese "crypto dad" and ex PBoC director Yao Qian insists digital yuan is not a surveillance tool for the government. China’s digital yuan will utilize smart contracts, and will be built to counter Alipay-like payment platforms designed by the privately owned conglomerates, former People’s Bank of China director Yao Qian said.Speaking at the International Finance Forum in Beijing, Qian argued that simply simulating its physical counterpart would not be enough for the digital yuan to succeed.

Beijing’s Distaste for Bitcoin Mining Spreads to Inner Mongolia, Miners Could Face a ‘Social Credit Blacklist’

Beijing’s recent crackdown on the cryptocurrency industry has found its way into Inner Mongolia according to a recent report.

Key Clues Emerge as to What Beijing Really Thinks About Bitcoin & Mining

Further details are emerging as to what exactly China’s current stance on crypto and crypto mining is – following days of confused reporting on Beijing’s regulatory policies. China’s last major crypto crackdown took place in September 2017, when the government banned crypto exchanges from operating in the country and blocked initial coin offerings (IOCs).

Chinese trade associations sound crypto investment warning

Three associations outlined four issues related to crypto investment, beginning with a call for their members to understand the nature of digital currencies. The China Internet Finance Association has signed a joint statement with the China Banking Association and China Payment and Clearing Association, warning the public about the risks of investing in cryptocurrencies.According to a report by Shanghai Securities News on Tuesday, the aforementioned trade association under the People’s Bank of China issued a communique titled “Preventing the risk of virtual currency transaction speculation.”The joint statement is reportedly an extension of previous releases from the PBoC about Bitcoin (BTC) and crypto risks.As part of the communique, the three associations outlined four issues related to crypto investment, beginning with a call for their members to understand the nature of digital currencies.According to the release, cryptocurrencies are not “real currency” and should not be used as a medium of exchange for goods and services.Back in July, the Beijing Arbitration Commission issued a ruling declaring Bitcoin to be a virtual commodity.For its second point, the trade associations warned financial institutions and other member organizations not to engage in crypto business transactions.

Beijing Is Collecting Data From Local Datacenters Involved in Cryptocurrency Mining Activities

Authorities in Beijing have been conducting checks on cryptocurrency mining datacenters to assess and understand its energy consumption and thus the impact on the electric infrastructure.

Bitcoin mining in China set for 'stricter supervision' due to carbon concerns

China is reportedly paying more attention to the crypto mining sector, amid concerns of its growing carbon footprint.

Beijing investigates crypto mining farms to improve energy efficiency

Bitcoin's electricity bill has been attracting the attention of regulators worldwide.

China's Digital Yuan to be Made Available to Visitors During 2022 Beijing Winter Olympics

The People’s Bank of China (PBoC) has confirmed its plans to make its Digital Currency Electronic Payment (DCEP) available to foreign athletes and visitors at the 2022 Beijing Winter Olympics.

China aims to let foreigners use digital yuan at Winter Olympics in 2022

China wants to allow foreign athletes and visitors to use the county’s digital currency during the Beijing Winter Olympics in 2022.

Our Man in Shanghai: Filecoin the talk of the town, Polkadot and NFTs gain attention

Retail investors are flocking to buy Filecoin on exchanges with predominately Chinese user bases and the head of the PBOC thinks the digital yuan has an uphill battle to take on Alipay and WeChat Pay. Distributed storage network project Filecoin is the talk of the town as FIL was the most highly traded token on Huobi, OKEx and Gate on Thursday.

First Brick & Mortar NFT Art Exhibition Debuts In Beijing

In an industry first, a physical exhibition for digital art in the form of non-fungible tokens (NFT) is set to launch in China, showcasing notable works from leading artists in the NFT space and the winning entries from a global digital artwork competition.

Chinese Citizens Can Now Apply for the Digital Yuan Wallet Through 6 State-Owned Banks

Following the interview with Ma Changchun, the head of the People’s Bank of China-run Digital Currency Research Institute, a recent report indicates that residents from Beijing and Shanghai can now apply for a digital yuan wallet.

Chinese Citizens Can Now Apply To Banks for Digital Yuan Wallets

Six banks owned by the Chinese government are allowing Shanghai and Beijing citizens to apply for a digital yuan wallet.

Russia & China vs. USD, Fed's Chair on Bitcoin, FATF Aims at DeFi + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Fiat news During his visit to China, Russian Foreign Minister Sergei Lavrov called for Moscow and Beijing to reduce their dependence on the US dollar and Western payment systems to push back against what he

Bitmain transition complete after Micree Zhan officially replaces Jihan Wu

Beijing-based Bitcoin mining company, Bitmain has officially replaced its general manager and executive director.

China’s Inner Mongolia to shut down crypto mining farms by April 2021

Inner Mongolia drew the ire of Beijing after failing to meet energy efficiency goals.

Beeple Crypto Art Set for NFT Exhibition Debut in China

Beijing is set to get its "first" crypto art exhibition next month.

Chinese bank tests biometric hardware wallet for digital yuan payments

Another Chinese banking institution has created a hardware wallet for the country’s central bank digital currency. China’s large-scale digital yuan testing across several cities continues to gather pace with some financial institution leading the development of hardware wallets for the central bank digital currency. According to news agency Xinhua, the Postal Savings Bank of China has created a biometric hardware wallet for the project. The biometric hardware wallet enables easy identity verification for users via fingerprint sensors on the card. Consumers participating in the CBDC trials in Beijing are also able to use the card to access healthcare services. Indeed, the Postal Savings Bank of China said the hardware wallet, which is still in the testing stage, was designed to provide easier access to the CBDC and healthcare services for the elderly without needing to use smartphones, adding: “With this card, it is much more convenient to enter and exit public places, and you can pay with just one touch.

Beijing’s $1.5 Million Digital Yuan Giveaway: China to Airdrop Digital Currency for Chinese New Year

China is giving away 10 million yuan in its central bank digital currency in Beijing.

China: Beijing to issue 10M digital yuan to increase utilization

China has made tremendous progress with regard to its digital Yuan and has been testing its use on quite a larger scale.

China's DCEP to be tested in Beijing and Shanghai

China has been striving to release its own digital currency or Digital Currency Electronic Payment [DCEP] in 2021.

Beijing, Shanghai to Join Wider Testing of Digital Yuan in 2021

The wider effort to promote the digital currency precedes a launch in the "near future," per a state media report.

Company lawyer says Bitmain suffered $60 million loss in 2019

A live stream from a People's Court in Beijing revealed that Bitmain recorded a loss of about $60 million in 2019, according to the firm’s lawyer. The court hearing was about a labor dispute betw The post Company lawyer says Bitmain suffered $60 million loss in 2019 appeared first on AMBCrypto.

Ex-CIA Analyst: Beijing Blockchain Network May Spark Chinese Net Dominance

The Chinese Blockchain Service Network (BSN), already active in all major Middle Kingdom cities and continuing to add interoperability options, could pose a major threat to America’s dominance in the digital realm, said a security expert and former CIA official – raising questions over the project's possible implications for the crypto sector. The opinions were put

Beijing Municipal Government Conference Notes Plans to Pilot CBDC in China’s Capital

The discussion of China's digital yuan at a regional-level conference indicates the pilot is being included in state-level planning.

Beijing Government Already Has 100 Uses for Blockchain, Says Expert

One of China’s leading blockchain academics said that Beijing has adopted 100 uses for blockchain in the government services sector so far – and stated that Chinese state organizations and private sector firms are rapidly finding real-world uses for the technology. Per Beijing News, the claims were made by Cai Liang, the executive deputy director of the Research

Chinese Banks Stepping up Blockchain Cross-border Trade Financing

Chinese banks are looking to up their cross-border trade game – with a series of new blockchain-powered innovations that could seek to reduce the nation’s dollar dependence. Per Sina, the Beijing-based China CITIC Bank, the country’s seventh-biggest lender, has become the first domestic bank in mainland China to make use of a blockchain-powered cross-border letter of

Beijing Announces ‘Legal Digital Currencies Pilot’ Plan

Beijing is set to build a “legal digital currency pilot area” as part of its new Beijing Pilot Free Trade Zone initiative – although the project’s masterminds have stopped short of providing details as to what sort of tokens will be given the green light. Per the Beijing News, via news agency Xinhua, the project will see “a legal digital currency pilot

China Promotes DeFi and Ethereum on CCTV, But Isn't Crypto Banned?

A segment on China's CCTV appeared to actively promote Etheruem and DeFi, but isn't Beijing anti-crypto? (Read More)

Chinese govt. official: Gambling gangs use crypto to transfer funds abroad

China faces economic risk as illegal gambling operators move 1 trillion yuan in funds from the country, partially in crypto, says a government official. Illegal gambling and casinos result in the outflow of over a trillion yuan annually (around $146.5 billion) from China, said Liao Jinrong, the director general of the International Cooperation Department under the Chinese Ministry of Public Security.  He said that the operators of the overseas gambling platforms and casinos collect the funds from gamblers using digital currencies, making the investigation into these activities more challenging for the authorities. Speaking at an event in Beijing, Liao said that the illegal outflow of such a huge amount can erode the economic security of China.

Chinese State Media Outlets Surprise With Pro-Crypto Reports

Source: Twitter/@DoveyWan Chinese crypto advocates have reacted with surprise after a number of state news outlets in the country reported on a positive-spin story that explains how cryptoassets have become the most successful asset class in the year to date. But the story itself is not exactly a pro-crypto piece of reporting from Beijing.

Beijing sees digital currencies as ‘new battlefield’ in global finance

China's central bank aims to challenge the global financial status quo. The People’s Bank of China is placing a strong emphasis on the geopolitical stakes of the country’s central bank digital currency development. An article published in the PBoC-run magazine China Finance this weekend argued that Beijing should “accelerate the pace [of CBDC development] to seize the first track” in the global race to issue fiat digital currencies. The article stated that China should seize the advantage of becoming a first mover in the arena of digital currencies, which it characterized as the “new battlefield” of inter-state competition. At stake, the article claimed, would be significant changes to the geopolitical status quo in international finance and an opportunity to break dollar hegemony and internationalize the yuan. Moreover, data feedback from a PBoC-issued digital currency would be beneficial for national monetary policy, all the more crucial in a post-pandemic landscape fraught with economic challenges.  The article outlined that, as of the end of April 2020, the PBoC’s research unit has filed 130 cryptocurrency-related patent applications, which cover the gamut of issuance, circulation and implementation. The central bank’s research unit had first been established in 2015 and the project has proceeded apace in 2020.

Beijing pulls ahead of Shenzhen as China’s top blockchain city

The 2020 Chinese Blockchain Innovation rankings have been released. Beijing has been named as China’s top blockchain city in the 2020 Chinese Blockchain Innovation Rankings ahead of the blockchain hub of Shenzhen. The rankings were revealed in a special session at the China International Fair for Trade in Services Summit.

China Unveils Inaugural Blockchain City Rankings

Beijing is officially China’s top blockchain city, per official rankings, but second city Shanghai placed third behind Shenzhen, the nation’s fastest-growing blockchain hub. These were the findings of a special session at the China International Fair for Trade in Services, the first large-scale international economic and trade convention to be held in China since the

Canaan Cuts Losses for Second Successive Quarter, Down To $2.4M in Q2; Demand Remains Weak

Canaan Creative, the Chinese maker of bitcoin mining hardware, reported a net loss of $2.4 million during the second quarter of 2020, down from $5.6 million in the previous quarter.

Beijing Telecoms Provider Latest Company to Join Digital Yuan Pilot

Another private sector firm has stated that it is working with the Chinese central bank on its fast-expanding digital yuan pilots. Per Shanghai Securities News, a Beijing-based telecom provider named Shenzhen Techo Telecom admitted that it was working on the project, known in China as the Digital Currency Electronic Payment (DCEP) system. The firm appears to be reluctant to

Huawei and Beijing Municipal Government Develop Blockchain-Based Data Directory System

Telecoms giant Huawei has joined hands with the Beijing Municipal Government to create a blockchain-powered directory system.

DeFi Aggregator Bella Protocol Announces $4M Seed Round

Beijing-based decentralized finance (DeFi) aggregator Bella Protocol announced Monday a $4 million seed round led by Arrington XRP Capital.

Huawei Builds Blockchain Platform So Beijing Govt Can Better Manage People’s Data

Huawei’s cloud services arm is helping the Beijing government set up a blockchain platform that would better track and manage people’s data ranging from medical records, real estate registration and real time parking updates.

Huawei and Beijing jointly develop municipal blockchain directory

Beijing’s municipal government has ambitious plan for smart city infrastructure based on the Huawei Cloud Blockchain. Huawei and Beijing’s municipal government have jointly developed a blockchain directory for use across urban governance. According to an official report published on Aug.

Huawei and Beijing work together on blockchain governance platform

Huawei Cloud is co-creating a blockchain-based data sharing platform with the Beijing municipal government.

Huawei Working with Beijing on Blockchain Governance Platform

Chinese tech giant Huawei may be under fire from governments in the United States and Europe, but appears to be pursuing new, blockchain-powered business avenues in its home country. Per Jintai News, the firm’s Huawei Cloud arm has joined forces with the Beijing Municipal Government to co-create a blockchain-based, data-sharing public directory system. The tech giant

Beijing Makes Digital Yuan Pilot Expansion Plan U-turn

The Chinese government has indicated that it may not decide to expand the scale of its digital yuan launch after all – just days after it revealed details of a massive expansion encompassing some of the most affluent parts of the country. As previously reported on Cryptonews.com, the nation’s Commerce Ministry late last week issued plans to scale up its so-called

China Testing Digital Currency in Major Cities, Including Beijing and Hong Kong

China’s Ministry of Commerce has announced the pilot run of the country’s central bank-backed digital currency in major cities, including Beijing, Hong Kong, and Macau.

China Expands Digital Yuan Trials to Beijing and Neighboring Provinces

While there is not yet a set time for the expanded pilot program to begin, a policy framework should be complete by the end of 2020. China’s Commerce Ministry announced today that it will expand the trials of the nation’s central bank digital currency (CBDC) to include Beijing, as well as Tianjin and Hebei provinces. According to an Aug.

‘It’s Too Hard to Participate’: CWV Partner on China’s Blockchain Blueprint

Collaborating with the government is never easy. Back in July, the Beijing government released its first blockchain application blueprint concerning government services in China.  According to Neo Wang, managing partner at public blockchain CWV, this application fell far short for people interested in contributing to the initiative.

Beijing selects Hong Kong's Greater Bay Area as first market to deploy DCEP

Hong Kong's Greater Bay Area is a $2 trillion economy that has already been a proving ground for blockchain technology.

Hong Kong Wealthy Move Gold Offshore: Why Bitcoin Is Better

Precious metal dealers in the political and protest torn Hong Kong claim that the wealthy are moving gold offshore following a new security law passed by Beijing in July.

Chinese Schools Can’t Keep Up With Demand for Blockchain

The Chinese academic sector is “seriously lagging” in terms of keeping up with demand for blockchain specialists. As the blockchain industry keeps expanding across China, there are concerns that the academic sector is failing to keep up with demand for comprehensive, undergraduate, blockchain-related educational programs. The head of the Digital Economy Development Research Center at the Beijing-based Communication University of China, Sun Daojun, said the first batch of “blockchain graduates” will start courses later this year and complete their studies in 2024. In the context of the latest Baidu’s Superchain whitepaper press conference, Sun told Mars Finance he believes that the Chinese blockchain industry is developing fast, but the educational sector “is seriously lagging” behind the demand of new professionals. The Chengdu University of Information Technology announced the official launch of the "Blockchain Engineering" undergrad course in March.

More Blockchain Graduates Needed to Meet China’s Burgeoning Demand

China’s first batch of blockchain graduates will begin their courses later this year, but will not complete their studies until 2024 – with a leading expert warning that the academic sector is “seriously lagging” behind industrial demand. Per Mars Finance, the head of the Digital Economy Development Research Center at the Beijing-based Communication University of China

China Never Banned Bitcoin as Commodity, Beijing Arbitration Commission Explains

The Beijing Arbitration Commission has published an article clarifying that bitcoin’s use as a commodity has never been banned in China.

Tech's Antitrust Issues Flare Up on Both Sides of the New ‘Cold War,’ Report

At the request of the People’s Bank of China, Beijing could soon probe its digital payments monopolies, sources claim. Days after the CEOs of the world’s top tech firms faced antitrust hearings in the United States Congress, sources are alleging that Beijing too could soon probe its own digital monopolies.  A Reuters report published on July 31 cites anonymous sources who claim the People’s Bank of China has formally recommended that the State Council’s antitrust committee launch a probe into the activities of digital payments titans Alipay and WeChat Pay. The central bank has allegedly argued that both have used their ascendant position to stifle any possible competition in the field of digital payments.  If approved, an antitrust probe could be imminent China’s mobile banking sector processed roughly 56.2 trillion yuan ($8 trillion) in transactions in the last three months of 2019, according to Analysys statistics cited by Reuters.  Analysys estimates that AliPay, run by Alibaba affiliate Ant Group, and Tencent’s fintech business (largely WeChat Pay) occupy 55% and 39% of the country’s mobile banking market respectively. One of Reuters’ unnamed sources has said the PBoC formally recommended the State Council committee to investigate possible antitrust issues within the second quarter of 2020. Probe could throw cold water on Ant’s IPO plans The report notes that PBoC has already taken measures to erode the market dominance of both by announcing plans to standardize the interoperability of QR code payments in a bid to ease the entrance of smaller actors into the market. Should a formal antitrust investigation be launched, the news could be a blow for Ant Group’s highly-anticipated dual listing in Shanghai and Hong Kong, where it seeks an initial public offering at a valuation of a reported $200 billion. Following the central bank’s recommendation, the State Council antitrust has already been collecting information on bot

Chinese Arbitration Body Says Crypto Crackdown ‘Isn’t a Bitcoin Ban’

Beijing’s local arbiter has attempted to clarify the government’s stance on bitcoin (BTC) – and stated that the world’s most notorious crypto ban is not exactly a “ban” per se. In an unprecedented move from a Chinese legal body, the Beijing Arbitration Commission (BJAC) – one of nine local legal bodies established to police courts nationwide in 1995 –

Bitcoin is not Completely Banned in China: Beijing Arbitration Commission

Despite the country's stringent regulation on cryptocurrencies, it appears that Bitcoin is not entirely banned in China. The post Bitcoin is not Completely Banned in China: Beijing Arbitration Commission appeared first on CryptoPotato.

China Clarifies its Stance on Bitcoin: Legal if the Crypto Does Not Act as Alternative to Fiat

China has not always been friendly towards cryptocurrencies, however, the country has not completely banned Bitcoin, according to the Beijing Arbitration Commission.

China Didn’t Ban Bitcoin Entirely, Says Beijing Arbitration Commission

Bitcoin-related activities are not prohibited by the Chinese government as the cryptocurrency acts as a virtual commodity. China, one of the world’s most strict jurisdictions for cryptocurrency trading, has not completely banned Bitcoin (BTC), a local non-profit arbitration organization says. According to a July 30 report published by the Beijing Arbitration Commission (BAC), China's prohibition of Bitcoin is more nuanced than some have suggested. Bitcoin does not constitute money in China In the report, the BAC clarified China's legal stance on cryptocurrencies like Bitcoin and outlined major crypto-related activities that are prohibited by the government.  According to the BAC, China prohibits token funding and trading platforms from engaging in exchanges between the legal tender and virtual currency or tokens. The commission then states that the same law that bans cryptocurrency as money, recognizes it as a virtual commodity.  Furthermore, existing laws are, according to the BAC, not specific enough to regulate Bitcoin as virtual property: "The "General Principles of Civil Law" do not make specific provisions on the extension and connotation of virtual property, but only stipulates that the protection of virtual property must be stipulated by law, and the specific protection measures of virtual property are entrusted to other laws.

Blockchain audit service brings security to China's blockchain industry

Beijing Certificate Authority is the only certificate authority approved by the Certification and Accreditation Administration of China (CNCA) to work in the financial sector.

Chinese capital Beijing unveils its grandest blockchain plan to date

Beijing is launching a blockchain platform for enterprise financing, e-governance, and banking ahead of its bid to become a blockchain hub by 2022.

Beijing Says Blockchain Adoption Is Already Yielding Tangible Results

China’s blockchain kick is starting to leave a noticeable mark on the nation’s capital with the Beijing government reportedly deploying blockchain technology in 140 different use cases. Per a report from The Beijing News, blockchain-powered alternatives have helped do away with paper-based processes in 253 scenarios involving enterprises and 65 matters pertaining to

Beijing: 140 Government Services Applications Are Using Blockchain

The Beijing government has released its first blockchain application blueprint for government services, claiming 140 applications already use the technology. The Beijing government will release its first blockchain application blueprint on government  services in China today, according to the local news on July 15.   According to the blueprint, 140 government service applications are already on the blockchain.

China to Test Digital Yuan on Food Delivery Platform With 435 Million Users

China’s central bank may test digital yuan on Meituan Dianping’s food delivery platform with 435 million users. The People’s Bank of China (PBoC) is planning to add the Tencent-backed food delivery giant Meituan Dianping to its list of platforms that will test real-world use cases of the digital yuan. Meituan Dianping is a Beijing-based food delivery platform that currently boasts of more than 435 million active users and billions of dollars of daily transactions.

Chinese Power Giant & World’s 5th Biggest Company in Blockchain Dive

The State Grid Corporation of China (SGCC), the largest utility company in the world, says it will launch a blockchain “lab” – in a bid to adopt blockchain technology to its business workings and internal operations. The SGCC is headquartered in Beijing, has around 1 million employees and, according to Fortune-compiled figures, is the world’s fifth-largest company

Digital Yuan Set for Real-world Ride Sharing Pilot with Apple-backed Didi

China’s digital yuan launch appears to be inching yet closer to rollout after reports in the Middle Kingdom surfaced linking a ride-share operator with pilots for the new central bank-run token. Per Beijing Business Today and Bloomberg, a digital currency unit of the central People’s Bank of China (PBoC) has struck a “strategic cooperation” deal to “explore the

Chinese Courts Use Blockchain for Property E-Sealing

Courts in China are rolling out blockchain-based electronic seals to protect property from being disturbed or damaged. Several courts in China have implemented blockchain technology as a way to secure properties with an electronic seal. The Executive Bureau of the People's Court in Haidian District, Beijing, has reportedly deployed a blockchain-based electronic seal to secure a property in Chaoyang district. E-sealing system applies blockchain to protect the property By applying blockchain-powered e-sealing, courts are able to securely monitor a property in real-time with help of video surveillance, local news agency the Global Times reported on July 5.  Specifically, if the property is disturbed or being damaged, the blockchain system automatically turns on a surveillance mode and sends mobile warning notifications to plaintiffs and law enforcement personnel.