Riding the wave of several hugely successful trials of its upcoming digital yuan, China has announced the launch of a new five-year development plan. The plan was adopted during the Fifth Plenary Session of the Nineteenth Central Committee of the Communist Party of China (CPC), and in...
China’s Digital Currency Electronic Payment (DCEP) project is gathering a lot of momentum as the actual realization seems more realistic with every passing event. Having executed a successful pilot program in Shenzhen, and working towards another test in Suzhou, discussions between Hon...
While you could count the number of countries dabbling in national digital currencies on the fingers of one hand, almost none of them could even come close to China when it comes to the practical development of the new asset class. After allocating billions of yuan into various blockchain deve...
After almost a year of serious work done on the development of the country’s national digital currency, China saw its efforts culminate this month when it successfully completed a pilot project where it distributed the currency to the residents of Luohu. The novel project attracted a lot of med...
The development of China’s national digital currency is getting exponentially faster as the year progresses. After President Xi Jinping first announced his support for blockchain last year, both the private and the public sectors in China have been racing to introduce more real-world applica...
In his latest essay, Wang Yongli, former vice president of China’s central bank PBOC, believes that the possible choices for the construction of a new digital currency system are as follows: “The digital currency platform built by central bank, which is open to the whole society (open so...
The top stories from the Chinese cryptocurrency sphere this past week includes: China’s Supreme Court recommends strengthening cryptocurrency property rights; China’s central bank issues new standards for blockchain fintech applications; Alibaba launched Antchain blockchain solution… C...
China’s central bank released in a long post lashing out at the cryptocurrency trading platforms titled “3.15 Protection of Financial Consumption Rights and Interests” on March 22. The post displays three problems existing in the crypto exchanges by several pictures as follows: Cl...
China announced its own Digital Currency Electronic Payment system, or DCEP, that it had been researching for five years. Further updates on the project have made no attempt to hide the scale of China’s ambition. The article would like to predict the impact of DCEP on financial i...
Recently, China’s central bank issued an announcement on the DCEP (China’s CBDC) again, pointing out that the trading of "DC / EP" or "DCEP" in the market is fake as the system is still in the process of research and testing. This is the second time China’s central bank ha...
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