China’s Shenzhen to Distribute 10 Million RMB in Digital Yuan for Public as Allowance

Oct 9, 2020

DCEP, China’s digital yuan was used to create the so-called “red packets”—financial incentives that the recipients were able to spend at designated merchants in Luohu, a district in the Chinese city of Shenzhen. The 50000 “red packets” has a denomination of 200 CNY each. The “...

China’s Digital Yuan Adopts Blockchain System in Security Verification

Aug 20, 2020

The third-party payment method of e-commerce enterprises affords lessons to China's digital currency, and completely gets rid of the development ideas of traditional e-currency. China’s digital yuan adopts blockchain system in security verification as well. China's digital currency not only ...

Ways Firms Can Seize Opportunities With China’s DC/EP Rollout

Aug 5, 2020

Firms that are timely prepared for the rollout of China’s digital currency electronic payment (DC/EP) project stand to benefit in about five ways from the effect it will have on the global economy, two authors have shared on the London School of Economic Business Review blog page. Jem...

Calls for China to Switch from SWIFT to CIPS, Recipe to Renew Digital Currency Talks

Jul 30, 2020

The time for China to focus more on using its own financial messaging network to settle cross-border transactions in the mainland, Hong Kong and Macau is near, a new report by BOC International (BOCI) has suggested. Co-authored by a former director of the international payments departm...

National Digital Currencies: The Future of Money?

Jun 16, 2020

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...

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. ...

How the Ethereum DeFi Ecosystem Reacted to Coronavirus?

Apr 10, 2020

March 2020 witnessed the most volatile day in the price of cryptocurrency ever. Hence it was no surprise the Ethereum DeFi dapp category – as tracked by DappRadar also experienced an all-time high in terms of daily active unique wallet activity. As previously discussed. 12 March 2020 sa...

Outlook Ties Coronavirus to Gig Economy, Digital Currency Surge

Mar 10, 2020

A clear endpoint seems not to be in sight for the growing new coronavirus outbreak thus raising suggestions that COVID-19 can be transformative for the future with a global impact on the conventional way day-to-day work is carried out. Its spread has affected several industries globally wi...

Three Schemes for Dual Offline Payment of CBDC, Says China’s Central Bank

Feb 19, 2020

Compared with the digital currencies that have been issued or are being developed like Libra, the digital currency of China’s central bank is the only one that explicitly requires "dual offline payment". China’s central bank has put forward a set of plans. ICBC (Industrial and Commercial...

China’s Bank Notes Quarantine, A Case for Digital Currency

Feb 16, 2020

The growing impact of the coronavirus has brought to fore what could be a considerably clear usecase for Chinese digital currency as China battles a deadly outbreak. At a press conference on Saturday Feb. 15, the deputy governor of the People’s Bank of China, Fan Yifei, confirmed that th...