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China Likely To Launch Digital Yuan In Time For 2022 Winter Olympics in Beijing

Dec 15, 2020

There are indications that the digital yuan project in China is targeted to go live in time for the 2022 winter olympics to be held in the capital city of Beijing. As reported on Eastmoney, sources close to the project insist that there is still a long way to go before the full launch of the di...

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Digital Yuan Wallet Balances Has Been Topped up, China’s Suzhou City Gets Ready for CBDC Test

Dec 11, 2020

The “red packet” for China’s CBDC pilot in Suzhou city will come into effect at 20:00 this evening and will be valid from 20:00 on December 11 to 24:00 on December 27. The red packet issued can be consumed in the designated offline merchants in Suzhou city through the "Digital Yuan A...

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World Blockchain Conference Review: Blockchain Empowers Wuhan’s Digital Economy Growth

Dec 11, 2020

The World Blockchain Conference (Wuhan) has concluded with great success on December 6. The two-day blockchain annual event has drawn more than 2,000 person-time,  and fifty thousand views via live stream, among them,  the 29 leading enterprise representatives and 6 local government organs ...

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Zhou Xiaochuan, the Surprisingly Liberal PBoC Governor That Spearheaded the DCEP

Dec 11, 2020

With major pilot projects taking place across the country, the future of the Chinese digital yuan has been the focus of most of the media attention directed towards the country. The country has set its sights on making the digital yuan the go-to currency during the 2022 Beijing Winter Olympics...

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China Announces New DCEP Pilot and Lottery in Suzhou

Dec 8, 2020

After conducting a hugely successful trial of its upcoming digital yuan wallet this fall, China has set its sights on more large-scale trials of the new payment system. According to a report from Asia Nikkei, the Chinese government will be expanding the trials of its DCEP payment system th...

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JD.com Breaks New Grounds With China’s CBDC Involvement

Dec 7, 2020

The proposed testing of China’s central bank digital currency (CBDC) in Suzhou is going to involve the fintech arm of JD.com accepting digital yuan as payment for some products on its online mall, the Chinese e-commerce company has said. JD Digits will participate in the Suzhou pro...

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It Will Take At Least 10 Years For Digital RMB To Compete With WeChat Pay, Alipay And Bank Cards

Dec 4, 2020

China is working towards achieving an indigenous digital currency that is backed and controlled by the state. The Chinese government’s activities so far towards achieving this goal has earned it a leadership role among the several nations that are pursuing similar objectives. As a matter of fac...

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Alibaba, WeChat Dominance to Make China’s CBDC Different

Dec 3, 2020

Many countries may be pursuing a central bank digital currency (CBDC) now but top consulting firm, Deloitte says the dominance of tech giants Alibaba and WeChat will make China’s version different. “In fact, introducing a CBDC in China would differ from other countries due to th...

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Was China Construction Bank’s $3 Billion Blockchain Bond Doomed From the Start?

Dec 1, 2020

Beijing put a stop this week to Fusang's China Construction Bank bond listing on the Ethereum blockchain. What was the Chinese government afraid of? The tokenization of securitized debt has long been described as one of the more practical use cases for blockchain technology. Blockchai...

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Why South Korea’s Top Credit Card Firm Just Filed For a Blockchain Patent

Nov 30, 2020

Shinhan Card, the biggest credit card company in South Korea operated by Shinhan Bank, the nation’s second-largest bank, applied for a new blockchain patent in Japan. It comes 16 months after the firm received approval for a blockchain credit card patent in South Korea. Local publicat...