The governments of China and the U.S. frame digital currency as part of their great-power competition, but instead they should work on this technology together. Today, the relationship between China and the United States is one of escalating competition. On Oct. 23, 2019, Faceb...
It seems that the talk about China’s central bank digital currency (DCEP) is beginning to heat up. The project has taken off from a theoretical plan to practical execution in just a few months, putting China at the head of the race to launch a digital national currency. Aside from givin...
While most of the world is still focused on getting central ban digital currencies off the ground, some of the most influential voices in China are already thinking about what the next step in the blockchainification of the country will be. Aside from the intensive efforts being done in China on...
In this past week, China’s CBDC was seen a step closer to real use case as it announced to partner with the country’s largest taxi hailing service provider; blockchain fever in the country continues with over 45,000 blockchain companies registered with local regulator; Canaan may be going t...
Didi Chuxing, China’s largest and world's second-largest taxi hailing service provider, has partnered with the country’s central bank to jointly study and explore the application of digital yuan in the field of smart travel. The ride-hailing juggernaut announced July 8 that the company ha...
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...
China's digital currency is slowly gathering momentum. But DCEP is not blockchain based, it's centralized, with a 'loosely coupled' twist. While 80% of the world's central banks are exploring digital currency, China has been on this particular journey for a good six years. In 2014, Xia...
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 ...
Central bank digital currencies (CBDCs) have been the talk of the industry since last year, when significant efforts from several countries were announced. While some efforts, like the Venezuelan Petro, seemed poised to fail from the start, there are still a handful of ambitious projects tha...
Authors: Aditi Kumar, Jeremy Ney, Eve Lee, Victor Ji China piloted a national digital currency in April 2020. The European Central Bank has convened a working group of major economies to coordinate digital currency research and development. The U.S. Federal Reserve said it was...
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