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Tag Archives: China

China’s Bitcoin Mining Dominance is Dropping

May 7, 2021

China is gradually losing its grip as the dominant hashrate custodian for Bitcoin as new miners have started setting up rigs in other parts of the world. Some of the originally resident miners in China are also relocating.   Right from the early days, most of the network effect that sustai...

JD.com Pays Employees Salaries in Digital Yuan

Apr 29, 2021

China’s digital yuan project has ticked yet another box as e-commerce giant JD.com recently implemented it as a payment vehicle to pay salaries of some of its employees. The platform also revealed that it used the digital yvan to make payment for some other businesses.  This will go down a...

China’s Hainan Province Set For Digital Yuan Test in April

Apr 9, 2021

All is set for the next step in China’s move towards the creation of a Central Bank Digital Currency (CBDC). This time around, a test of the developing product will be carried out in the country’s province of Hainan. The exercise is expected to kick- off on April 12, 2021, and run un...

Why Bitcoin Miners May Flee China in 3 Years With 0 Profit

Apr 8, 2021

Olusegun Ogundeji

Based on a Bitcoin blockchain carbon emission model (BBCE), a new study has put a timeline to when the profit of Bitcoin miners - majority of which are predominant in China - would likely drop to zero.  The authors of the paper which has been published in the broad open-access journal, ...

Chinese Auction House Yongle to Enter the NFT Market

Apr 6, 2021

The rise in popularity non-fungible tokens (NFTs) have seen in the past few months has been unprecedented in the crypto industry. Believed by many to be the future of collectibles and digital identity, the novel token format has taken up the industry by storm, setting records on every corner. ...

China Social Media Influencer About To Drop Multiple NFTs

Mar 23, 2021

Famous American social media influencer in China, Bart Baker, in collaboration with DeFine Art is set to release multiple non-fungible tokens, NFTs. According to him, this will be the first video on NFT, and will enable a meaningful traction for NFTs in Asia. Baker is one of t...