PBoC’s Digital Research Institute Partners With Ant Group to Promote the Construction of The Digital Yuan Technology Platform

Apr 27, 2021

According to the latest report from the 21st Century Business Herald, the Digital Currency Research Institute of the People's Bank of China has signed a strategic cooperation agreement with Ant Group. The news was first announced during the Digital China Construction Summit, where ...

PBoC Says The Digital Yuan Will Offer Privacy For Small Transactions

Apr 8, 2021

After a huge state-wide debate about the potential privacy implications of the digital yuan, the People’s Bank of China (PBoC) has officially come out with its own comment about the security implications of the upcoming national digital currency. According to the latest report from CPO...

China Crypto Roundup (Mar. 29-Apr. 4)：Major State-Owned Banks Promote Digital Yuan Wallets

Apr 6, 2021

1. Major state-owned banks start to promote digital yuan wallets with 'broad invitation' At present, state-owned banks such as ICBC, China Construction Bank, Communications Bank and Postal Savings Bank have started to promote digital RMB wallets. At these bank outlets, users do ...

China Completes First Cross-border Pilot of Digital Yuan With Hong Kong

Apr 2, 2021

The initial pilot for the digital yuan cross-border implementation between China and Hong Kong has been completed. The technical tests on the project were confirmed by the director of the People’s Bank of China (PBoC) research bureau, Wang Xin. During a press conference on April 1...

COVID-19 Forcing China to Focus on Blockchain Projects in Its Belt and Road Initiative

Mar 25, 2021

The ongoing COVID-19 pandemic has affected almost the entire world. Both large and small, countries have been struggling to deal with the consequences of the virus and keep their economies afloat. And while China, which was hit the first and the hardest with the outbreak, has quickly manage...

China’s Central Bank Says The Digital Yuan Will Offer ‘Controlled Privacy’

Mar 23, 2021

While the success China’s digital yuan project has seen so far has been tremendous, the country’s efforts to launch a national digital currency have frequently encountered roadblocks. One of the biggest and most persistent roadblocks the project has faced were the privacy concerns regarding the...

Contradicting Opinions About The Effect Of Digital Yuan On The Cryptocurrency Market

Mar 11, 2021

China is pushing to launch a digital yuan and has carried out several tests across some major cities. However, the impact that the project could have on both the mainstream and cryptocurrency marketplace remains a subject of debate. The Chinese government has been firm on decisions against cr...

Beijing To Accelerate The Implementation of Digital RMB in The 2022 Winter Olympics  

Mar 4, 2021

With less than a year left until the 2022 Winter Olympics in Beijing, China has been fast-tracking the development of all of the technology it plans on implementing during the event. Blockchain technology has been, so far, the biggest endeavor in China, with local governments across the count...

Vending Machines in Shanghai’s Metro Stations Now Accepting Digital Yuan

Feb 24, 2021

China’s massive efforts to digitize its national currency have proven to be very effective, as the country has begun seeing more and more real-life use cases for the digital yuan. The large-scale pilot tests that have been conducted in major financial hubs such as Beijing and Shenzhen have show...

China’s Ministry of Civil Affairs Announces Newest List of Suspicious Organizations

Feb 20, 2021

China seems to be further expanding its effort to curb illegal activities in the country, cracking down on organizations and companies it deems are working against the current laws. According to the latest notice from the Chinese Ministry of Civil Affairs, there has been a whole new set of com...