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Tag Archives: China DCEP

Media Reports on China’s DC/EP Drawbacks, Risks 

Jun 1, 2021

Olusegun Ogundeji

In the wake of a rebuttal by the former director of the digital currency institute that its DC/EP is not to monitor citizens’ payments, two China-focused media reports have highlighted some of the drawbacks to the CBDC. Yao Qian, a former People’s Bank of China (PBoC) official, ...

Bitcoin Drops as Chinese Financial Bodies Berate Crypto Use 

May 19, 2021

Olusegun Ogundeji

The price of Bitcoin fell by about $2,000 on Tuesday May 18 shortly as three major finance-related bodies in China released a statement warning investors against engaging in speculative crypto trading. According to the timing on the CoinGecko crypto aggregator price chart, the sharp nosedive...

Fingerprint ID Coming to New DC/EP Card

May 7, 2021

Olusegun Ogundeji

Fingerprint authentication technologies are coming to a new card-based digital wallet solution for the Digital Currency/Electronic Payment (DC/EP) according to an expanded collaboration between China's Chutian Dragon and IDEX Biometrics announced on Wednesday May 5. Chutian ...

China Behind Bahamas, Cambodia on CBDC Maturity – PwC Index

Apr 30, 2021

Olusegun Ogundeji

The first edition of the PwC Global Central Bank Digital Currency (CBDC) Index has shown that The Bahamas and Cambodia are the two countries leading China in terms of their central banks’ level of maturity in deploying their own digital currency. Designed to monitor the ongoing...

China Trying to Dominate Blockchain, Control Digital Universe

Apr 16, 2021

Olusegun Ogundeji

In the wake of Coinbase’s historical debut as the first crypto company to make its stock market debut through a direct listing on the Nasdaq on Wednesday April 14, a former Trump administration Trade and Manufacturing Policy assistant Peter Navarro has argued on Wednesday that China is...

Fintech, Blockchain, DCEP Key to BRI’s Risks to US Interests

Mar 25, 2021

Olusegun Ogundeji

The Belt and Road Initiative (BRI) presents significant risks for U.S. economic, political, climate change, security, and health interests, the Council on Foreign Relations (CFR) has said in a new report. Among these risks are those stemming from China’s growing financial techno...

First Set of Shanghai Retailers Accept Digital Yuan

Mar 9, 2021

Olusegun Ogundeji

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...

m-CBDC Project May Eventually Land on China’s BSN

Feb 26, 2021

Olusegun Ogundeji

The Multiple Central Bank Digital Currency Bridge (m-CBDC) project which runs on a distributed ledger technology (DLT) network could eventually run on China’s new Blockchain Service Network (BSN).  This is according to Fintech and China expert Richard Turrin, author of...