Buy Bitcoins at CEX.IO

China

Bad Crypto News of the Week

It’s back to stability for Bitcoin this week as the currency continues to knock at the $12,000 ceiling. Where will it go next? One analyst sees a Battle Royale as whales try to push towards $14,000. Other investors are more optimistic. They see Berkshire Hathaway’s recent sale of bank stocks and purchase of stock in a gold mining company pushing the price to $50,000. If Warren Buffett is souring on the banking system...

Chinese State Grid Launches Blockchain-Based Blackout Insurance Policy

A branch of China’s state-backed grid released its first blockchain-powered blackout insurance policy issued to the chairman of a local company that needed to compensate for a power outage loss suffered recently.According to Shupeidian, Zhejiang Ningbo Power Supply Company, in partnership with Yingda Taihe Property Insurance Co., Ltd., released the policy to a sprinkler manufacturing company in Ningbo, Zhejiang province.Both companies believe that the process of issuing insurance via a blockchain network provides...

China’s State-Run Banks Reportedly Testing Wallet for Digital Yuan

A group of state-run commercial banks in China are reportedly conducting a large-scale internal testing of a digital wallet designed for China’s national digital currency, the digital yuan.According to an Aug. 5 report by Reuters, the banks are testing the wallet application to transfer money and make payments in China’s central bank digital currency, or CBDC. As reported, the development was initially revealed to China’s state-backed newspaper the 21st Century Business Herald by...

Do You Know The Most Valuable Blockchain Companies?

Research firm Hurun published a list of global unicorns, or companies worth more than a billion dollars, in 2020. This ranking features all billion-dollar tech startups founded in the 21st century that are not listed yet listed on public exchanges.The report, named “Hurun Global Unicorn Index 2020,” shows that there are a total of 586 unicorns globally — up from 494 companies listed in the 2019 ranking.The blockchain industry represents 2% of the...

After the US Senate Pros and Cons on Digital Money — What Do We Do With It?

The COVID-19 pandemic has certainly accelerated the digitalization of economies across the globe, opening up discussions on the future of digital financial services and whether our economy should advocate for the financial inclusion of Bitcoin (BTC) and other digital assets.Yet, despite the horror we have been seeing as our industries continue to suffer, the digital payments industry is expected to thrive, based upon recently reported data from the Consumer Confidence Index. Reaching a...

China to Test Digital Yuan on 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. This creates a huge opportunity for the mass adoption of the digital yuan, which is also referred...

Kazakhstan Sets Eyes on Top-3 Spot for Global Bitcoin Mining

Kazakhstan is becoming an important destination for Bitcoin (BTC) miners seeking cheap electricity in the post-halving market driven by thinner margins. According to recent reports, the oil-rich Central Asian country expects the total amount of money invested in local crypto mining operations to double by the end of 2020 and attract $738 million over the next three years.Unlike other countries in Central Asia, the Kazakh government has de facto legalized crypto mining, which...

Beijing Plans to Foster DLT Unicorns Through New Blockchain Investment Plan

The municipal government of Beijing has unveiled a 20-point plan to accelerate the development and deployment of distributed ledger technologies (DLT) and turn Beijing into both a global and national hub for blockchain tech.According to an announcement published on July 1, the plan seeks to “promote theoretical innovation, technological breakthroughs, talent cultivation,” and “create new economic growth.”The government will provide continued financial support for the plan throughout its course.Beijing wants to host...

China Could Roll Out Its CBDC Without Anyone Realizing

China has emerged as the world’s leader in central bank digital currency, or CBDC, development, driving speculation surrounding the country’s domestic and international ambitions for its CBDC.Speaking to Cointelegraph, Glenn Woo, Ledger Vault’s head of the Asia-Pacific region, predicted that China’s state-backed virtual currency will be the first to launch worldwide.Woo emphasized the speed with which China’s government can deploy major initiatives on a national scale, suggesting that its early CBDC trials with...

Bitmain Struggle Continues as Ousted CEO Reportedly Halts ASIC Deliveries

After physically taking over the Beijing Bitmain office, ousted CEO Micree Zhan is reportedly regaining control and is blocking the delivery of Bitmain products from its Shenzhen factory.According to sources of Chinese publication BlockBeats, Zhan issued an order prohibiting employees from shipping products to Bitmain’s customers. The reason for doing so remains unclear.As Cointelegraph previously reported, Zhan appears to have re-obtained the legal representative position of the Bitmain mainland China subsidiary, which is...
Buy Bitcoins at CEX.IO

You're currently offline!