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China’s Central Bank Says The Digital Yuan Will Offer ‘Controlled Privacy’

Mar 23, 2021

While the success China’s digital yuan project has seen so far has been tremendous, the country’s efforts to launch a national digital currency have frequently encountered roadblocks. One of the biggest and most persistent roadblocks the project has faced were the privacy concerns regarding the...

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China Crypto Roundup (Mar. 15-Mar. 21)：Hong Kong Test Digital RMB, Ebang Launched 6nm ASIC Chip

Mar 22, 2021

1. HKMA: We are working with the Digital Currency Institute of the People's Bank of China to test the digital RMB On March 15, Hong Kong Monetary Authority (HKMA) JP Eddie YUE said that they were working with the People's Bank of China (PBOC) Digital Currenc...

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China Crypto Roundup (Mar. 8-Mar. 14)：Meitu Bought 260M Yuan BTC and ETH, Digital RMB Pilot Became a Hot Topic at NPC&CPPCC

Mar 15, 2021

1. Meitu spent 260 million yuan to buy Bitcoin and Ethereum On March 8, Well-known beauty camera app Meitu's parent company, the Hong Kong-listed Meitu Company, became a trending topic on Weibo after it announced to great fanfare that it had bought $40 million, or about 260 million yu...

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The World’s First Major NFT Art Exhibition to Take Place in Beijing Next Month

Mar 15, 2021

The huge surge in popularity non-fungible tokens have seen in the past few weeks has been evident both in major market movements and the rise in new NFT projects across the globe. The NFT craze has quickly spread to Asia as well, with platforms racing to capture the loose capital flowing ar...

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Top 5 Popular Blockchain Projects Can Create a Long-Lasting Mark

Mar 12, 2021

There has been an increase in blockchain projects due to its steady growth and progress in the industry. Many countries have been investing in blockchain implementations. Take China, for example, the country has spent billions on this implementation.  Implementing blockchain gives you the full...

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Contradicting Opinions About The Effect Of Digital Yuan On The Cryptocurrency Market

Mar 11, 2021

China is pushing to launch a digital yuan and has carried out several tests across some major cities. However, the impact that the project could have on both the mainstream and cryptocurrency marketplace remains a subject of debate. The Chinese government has been firm on decisions against cr...

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First Set of Shanghai Retailers Accept Digital Yuan

Mar 9, 2021

Two Chinese top banks have made it possible for two local department stores and one food caterer to become Shanghai’s first retailers to accept China’s digital yuan on a limited scale over the weekend. According to Li Wei, the Brand Director of Shanghai New World, one of the three r...

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Beijing To Accelerate The Implementation of Digital RMB in The 2022 Winter Olympics  

Mar 4, 2021

With less than a year left until the 2022 Winter Olympics in Beijing, China has been fast-tracking the development of all of the technology it plans on implementing during the event. Blockchain technology has been, so far, the biggest endeavor in China, with local governments across the count...

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China’s DCEP Project Launches Biggest Digital Yuan Test Yet

Mar 3, 2021

The city of Chengdu will be launching China’s largest digital currency trial to date starting today, following those already completed in Beijing, Suzhou and Shenzhen. “The Chinese central bank has been more confident about issuing digital yuan as it expanded to the west, reflecting the...

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Bigger DCEP Test Continues Even as China Explores CBDC for Cross-Border Payments

Feb 26, 2021

China’s test of its digital currency electronic payment (DCEP) project continues in one of its major cities, and a much larger one than in Beijing earlier this month. The southwestern Chinese city of Chengdu announced on Tuesday that it will be distributing CNY40.2 million (about $6...