Suzhou will become the second Chinese city after Shenzhen to experiment with the country’s sovereign digital currency on Dec. 12, according to the report. The city located in Jiangsu Province of East China will play host to a shopping festival dubbed “Double 12” and gauge the DCEP's...
From Deutsche Bank to Goldman Sachs, the prospect of China's Digital Currency Electronic Payment (DC/EP) gaining widespread use is becoming more established going by their separate analyses on China's market outlook. The DC/EP, which promises to combat money laundering and oth...
The idea of Central Bank Digital Currencies (CBDCs) has split the blockchain and digital assets industry into two distinct sections. While one group believes that this idea might encourage adoption of the novel technology into the mainstream, the other suspects that it is simply a method o...
The summer of 2020 witnessed the mania of Decentralized Finance (DeFi) which swept the crypto world with its market value once exceeding US$1 bn and hundreds of billions of digital assets involved in the financial services provided by DeFi products. As the market gradually cools down, you ...
The Labuan Branch of the China Construction Bank Corporation (CCB) has sought to clarify claims related to its collaborated first blockchain-based bond sales including that Bitcoin will be accepted for settlement. The branch of the world's second largest bank, which is not the issuer ...
This weekend's proposed signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement by 15 countries to create Asia’s largest free trade zone that will cover 30% of global gross domestic product and trade may present a role for blockchain application in coming days going ...
After spending the better half of the year heavily investing in the development of blockchain technology, China’s largest institutions seem ready to put their money where their mouth is. According to the latest report from the South China Morning Post, China Construction Bank, one of the ...
Internal pilot programs for testing out use cases for the digital yuan have been going on for almost an entire year in China. Both small local entities and large provincial governments have launched their own programs, which ranged from establishing research and development teams to conducting a ...
A major problem is bound to beset the wider use of China's central bank digital currency (CBDC) as well as others being pursued by G20 economies, a financial expert has said. Yana Afanasieva CEO of Competitive Compliance notes that digital wallets being used to store value could end up...
While you could count the number of countries dabbling in national digital currencies on the fingers of one hand, almost none of them could even come close to China when it comes to the practical development of the new asset class. After allocating billions of yuan into various blockchain deve...
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