Cryptocurrency Analysis and News Portal
The People’s Bank of China has revealed plans to have its sovereign digital currency ready in time for the 2022 Winter Olympics. The announcement comes as the Covid-19 pandemic has accelerated a shift away from paper money. Limited trials are already underway in Shenzhen, Suzhou, Chengdu and the Xiongan New Area
Read More
Ripple CEO Brad Garlinghouse has urged United States regulators “to step up and lean into digital currencies” to avoid falling behind China in the field.In a tweet posted May 26, Garlinghouse warns that “remaining complacent is actually setting us back,” citing an article suggesting that China’s long-touted central bank digital
Read More
People’s Bank of China (PBoC) clarified that there is still “no timetable” on a formal digital yuan launch.In an interview published earlier today on the central bank’s website, PBoC Governor Yi Gang was asked about the CBDC’s official launch date, to which he replied:"These tests are just routine work for
Read More
The government of China’s Sichuan province moves to stamp out Bitcoin (BTC) mining activity, citing that growing cryptocurrency prices have led to the escalation of illegal activity under the guise of mining.Sichuan — 10% of the global hashrateAccording to estimates from Cambridge University, Sichuan is responsible for almost 10% of
Read More
It’s been 11 days since the third bitcoin block reward halving. Data now shows that the overall SHA256 hashrate lost around 47 exahash per second (EH/s), since the all-time high of 140 EH/s on May 3. With more than 33% of the hashrate lost, reports stemming from Sichuan China
Read More
In a sudden u-turn, China pledged to implement the phase one trade deal signed with the U.S. As the global stock market feels the strain of economic decline, governments are rushing to deescalate tension. China’s difficult decision shows the global economy is highly fragile. After weeks of escalated tension,
Read More
The U.S. Department of Defense can’t afford to lose the global military blockchain race to Russia and China, warns a new white paper by Amazon Web Services, IBM, Deloitte and others.Organized by the Value Technology Foundation think tank and co-authored by a smattering of private sector tech companies, consultancies and
Read More
Blockchain technology in China is now regarded as a core national strategy. Political leaders, including Xi Jinping, have been touting it. Regional governments have also enacted policies to foster its growth. But a shortage of blockchain talent, in part due to a lack of blockchain education, is casting a shadow on
Read More
A new bitcoin mining map by the University of Cambridge shows that China accounts for 65% of the world’s hash power. About half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total.Launched recently, the university’s
Read More
The Shanghai No. 1 Intermediate People's Court publicly announced an appeal for a Bitcoin foreign property damage compensation dispute on May 6, according to Baidu news. The second Court trial’s findings indicated that Bitcoin is a digital asset and should be protected by the law. All Bitcoin obtained through illegal means
Read More