China Crypto Roundup (Aug 24- Aug 31): China Opened CBDC Wallet Registration, Blockchain Being A Keyword of AntGroup’s Prospectus, China’s Inner Mongolia Tightens Policy on Crypto Mining

Aug 31, 2020

In this past week, China’s CBDC was seen a step closer to real use case as China Construction Bank opened digital yuan wallet registration in last Saturday, blockchain being a keyword of Alibaba's AntGroup prospectus, regulators in China’s Inner Mongolia stop preferential electrici...

China Crypto Roundup (Aug 17- Aug 24): China’s Digital Yuan Tested in Petty Payment, Bitcoin’s Hashrate Takes a Massive Hit After Heavy Floods in Sichuan, More Companies Turn to DCEP

Aug 24, 2020

The top stories from the Chinese cryptocurrency sphere this past week includes: China’s digital yuan will be piloted in more cities across the country; China’s Digital Yuan to Test in Petty Payment First; heavy rainfall in China’s Sichuan province forced many mining farms in the reg...

China’s Digital Yuan to Test in Petty Payment First

Aug 19, 2020

A director of the technical department of a bank in China’s Suzhou revealed that the current digital currency application in Shenzhen and Suzhou is mainly concentrated in small-scale scenarios such as retailing, public transportation card recharge, catering. The application scenarios for C...

China Crypto Roundup (Aug 10- Aug 17): Bitcoin Mining Legalization Foreseeable, China’s National Blockchain Network Launched New Global Portal, China to Pilot Digital Yuan in More Cities

Aug 17, 2020

The top stories from the Chinese cryptocurrency sphere this past week includes: China’s digital yuan will be piloted in more cities across the country; China’s Sichuan province revealed the second batch of demonstration enterprises for hydropower consumption covering a batch of blockchain c...

DCEP Should Replace All Currencies Flows Rather Than M0 Alone, Says Former Vice President of China’s Central Bank

Aug 4, 2020

In his latest essay, Wang Yongli, former vice president of China’s central bank PBOC, believes that the possible choices for the construction of a new digital currency system are as follows: “The digital currency platform built by central bank, which is open to the whole society (open so...

China’s Digital Yuan DCEP Adopts Multi-identity Authentication Mechanism to Improve User Experience

Jul 2, 2020

China’s central bank-backed digital currency DCEP has designed a unique identity authentication serial mechanism to facilitate the circulation of DCEP in the electronic systems of various businesses. On the premise of ensuring security, the user's identity authentication process gets more...

Hong Kong’s “Libra” Cross-border Stablecoin, the First Movement of China’s DCEP Go Abroad?

Jun 22, 2020

Introduction With the closing of China’s National People's Congress and the National People's Congress in Beijing last weekend, one political proposal sponsored by Nanpeng (Neil) Shen, member of the National Committee of the Chinese People's Political Consultative Conference ...

More Areas are Striving for China’s Digital Yuan Pilot

May 28, 2020

Although the schedule of the second batch of China’s digital yuan pilot is delayed, more regions in China are striving for the trial. In some second and third-tier provinces and cities, local governors expect the application of digital yuan in the local area. For example, in Guizhou provin...

China’s Chengdu to Establish Digital Assets Trading Center, Furthering the CBDC Pilot

May 14, 2020

“Chengdu will accelerate the construction of the blockchain intellectual property pledge & financing service platform, promote the establishment of digital asset trading center to further the China’s digital yuan pilot.” On the morning of May 14, speaking at the 17th Representative of t...

Former BOC President: Digital Currency Will No Doubt Maintain Its Dominance in Future Digital Economic Competition

May 6, 2020

On May 5, Li Lihui, former president of the Bank of China and the head of the blockchain research group of China Internet & Finance Association, gave a live program entitled "Digital Currency: Possible Reconstruction of the Global Monetary System" on People’s Daily Online. ...