Former Architect of China’s Central Bank Digital Currency: Cryptocurrency Has Already Had the Potential to Become Real Money

Sep 18, 2019

Yao Qian, general manager at China Securities Depository and Clearing Corporation Limited (CSDC) and former director of the PBoC’s Digital Currency Research Institute, said that cryptocurrency has already had the potential to become real money as it’s correcting the fundamental ...

Incoming European Central Bank President Is Open to Cryptocurrencies

Sep 6, 2019

Christine Lagarde, who has been nominated by European governments to replace sitting European Central Bank President Mario Draghi, appears kinder to the burgeoning cryptocurrency industry than her predecessor. In a statement issued to the Economic and Monetary Affairs Committee of...

Infographic: How Crypto Is Disrupting the Financial Ecosystem

Sep 5, 2019

“It’s gold for nerds.” — Stephen Colbert To idealists, it’s a brave new idea. To your parents, it’s a hipster fad. Civil libertarians see it as a tool to help us escape the oppression of banks and governments. Politicians see it as an illegal enabler of deep-web sites like the Silk R...

U.S. Top Source of Traffic to Cryptocurrency Exchanges, China Ranks Fifth Globally

Sep 3, 2019

The top 20 countries with the highest interest in cryptocurrency account for nearly 75 per cent of the total traffic to cryptocurrency exchanges, while the other 165 countries only account for 25.26%. Among them, the U.S. is the top source of traffic to crypto exchanges, according to a report fr...

China’s Central Bank Claims Forbes’ Report on CBDC Inaccurate Speculation

Aug 28, 2019

As China's central bank gets ready to launch its own cryptocurrency, Forbes reported early this morning (Beijing time) that the People’s Bank of China would launch a state-backed cryptocurrency and issue it to seven institutions in the coming months, in an immediate response to it, sources ...

Aside the $3 bln PlusToken, Beware of These Possible Chinese Crypto Scams

Aug 20, 2019

The crypto space has recently been in an uproar over the PlusToken scam which made off with a whopping $3 billion fraudulent fund. That would make it the biggest crypto Ponzi scheme to date. Almost at the same time when PlusToken went bust in early July, another Chinese Ponzi scheme th...

China’s State Cryptocurrency Coming Soon, Featuring Two-Layer Structure

Aug 11, 2019

China is about to roll out its central bank digital currency (CBDC), which features two-layer operation mechanism, with China’s central bank – PBoC - running the top layer and business institutions composing the second layer, said Mu ChangChun, deputy chief at the Payment and Settlem...

Is Libra a Paper Tiger?

Aug 8, 2019

Of course, Libra is not a paper tiger. Otherwise it won’t cause the immediate concern of global financial regulatory bodies and central banks, as well as the hearings by United States congress. But, this project indeed has inherent risks which make it very vulnerable. There is a good chance ...

How to Build a Stablecoin to Compete with Libra

Aug 7, 2019

In my Libra project analysis report (A Business Analysis of the Libra Project), I pointed out that there is still a very good opportunity to develop a new stablecoin that competes with Libra. The Libra project is definitely not the end of the stablecoin project, but a milestone in thi...

Senate Wrestles With Bitcoin vs. Crypto, Gauges Need for Regulation in Latest Hearing

Jul 31, 2019

The United States Senate Committee on Banking, Housing, and Urban Affairs hosted a hearing today, July 30, 2019, on cryptocurrency and blockchain regulation. This is the third in a recent spate of cryptocurrency-specific hearings in Congress, which began two weeks ago with Libra’s roun...