More Than 3.12 Million Digital Yuan Transactions Have Already Been Processed in China

Nov 2, 2020

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...

China is Already Seeing Fakes of Its Still Developing Digital Yuan Wallet 

Oct 28, 2020

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 Digital Yuan Will Help Develop China’s Digital Economy, PBoC Governor Says

Oct 21, 2020

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...

DCEP Should Replace All Currencies Flows Rather Than M0 Alone, Says Former Vice President of China’s Central Bank

Aug 4, 2020

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...

China Crypto Roundup (July 14 – 27): Cryptocurrency Property Rights Strengthened, PBoC Issues Standards for Blockchain Apps, Alibaba Launches AntChain

Jul 27, 2020

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 Issued Warnings to Cryptocurrency Transaction, Official Publications

Mar 23, 2020

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...

How Will China’s Digital Currency Electronic Payment System Influence Financial Institution

Jan 15, 2020

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...

China Warns Market Hype of CBDC as the Faker Runs Rampant

Nov 19, 2019

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...

China is Likely to Issue Central Bank Digital Currency First，Says Government Think Tank

Oct 29, 2019

An official from Chinese government think tank said China’s central bank is expected to issue its state-endorsed digital currency first, and he believed that Facebook’s Libra is doomed to fail. According to local report, Huang Qifan, deputy director of the Congressional Financial and ...

China’s Central Bank is Charging full Speed Ahead with its Digital Currency Plans

Sep 6, 2019

A dedicated team from the central bank’s Digital Currency Research Lab is now developing the system in a closed-door environment, away from the PBoC’s downtown Beijing headquarters as a report revealed on Sep.5. China Central Bank’s Digital Currency (CBDC) has begun a "rest...