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Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks
Li Wei, the Technology Departmental Head of the People’s Bank of China, has urged Chinese commercial banks to embrace blockchain and digital finance.
China's Central Bank Digital Currency DCEP: What We Know So Far
China has been charging full speed with its digital currency development plans in response to Facebook’s Libra. China’s state-owned bank, the People’s Bank of China (PBoC) has been reportedly developing their own digital currency aimed to replace cash in circulation and was said to be ready in the coming months.
Stern Warning on Crypto Trading by the China's Central Bank Prompts Bitcoin Bears
Following a cryptocurrency trading clampdown threat by China's central bank, People’s Bank of China (PBoC), Bitcoin has seen losses of more than 10%. Its value has dropped below $7,000.
Huawei’s CEO Responds to Facebook: China Can Issue Its Own Libra
Ren Zhengfei, CEO of China’s Huawei believes that China can create their own digital currency in response to Facebook’s Libra.
Rwanda’s Central Bank is Planning to Issue Its Own Digital Currency
Rwanda’s Central Bank, the National Bank of Rwanda is researching ways to issue its own digital currency.
China’s Central Bank to Develop Blockchain-Based Trade Finance Platform for the Greater Bay Area
China’s Central Bank, the People’s Bank of China (PBoC) announced its development plans for outlining a blockchain-based trade finance platform for the Greater Bay Area that links Hong Kong, Guangdong, and Macao. Governing entities in China, including the PBoC, China Banking Regulatory Commission, China Securities Regulatory Commission, and the Foreign Exchange Bureau came together to issue the official document for the proposal. The entities submitted their suggestions on financing the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, focusing on global trade and finance.
Chinese Central Bank Approves the City of Chengdu for its FinTech Innovation Pilot
The Chinese central bank, People’s Bank of China has recently approved the city of Chengdu to carry out fintech innovation supervision pilots.
China PBOC Views CBDC Race as "New Battlefied" Between Sovereign Nations
China through its apex bank, the People’s Bank of China (PBOC) has reiterated its desire to be the first nation to issue a Central Bank Digital Currency (CBDC)
Leading Asian Fintech Company WeLab Completes the Largest Ever Fintech Fundraising in China
Leading fintech company, WeLab announced on Dec. 12 that it has raised US$156 million in Series C of strategic financing, becoming the largest fintech fundraising in China so far. WeLab was one of the first virtual banks established in Hong Kong, after receiving a virtual banking license from Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA) in April 2019.
Chinese Telecommunications Giant ZTE Collaborates with China Mobile to Publish Blockchain and Edge Computing White Paper
Chinese multinational telecommunications giant ZTE has partnered with China Mobile, along with the Chinese Ministry of Industry and Information Technology Laboratory, and Peking University to publish a “blockchain and edge computing whitepaper.”
Trump's National Security Council Sees DLT as Critical Weapon in US-China Tech War
The United States National Security Council has named distributed ledger technology (DLT) as one the most critical focus areas in its tech war with China and Russia.
China Declares Bitcoin as Virtual Property with Monetary Value
China has taken a new step with an important legal precedent regarding Bitcoin in a property dispute case in Hangzhou. Read more about how this case affirmed the legal status of Bitcoin as a virtual property with protection under Chinese law.