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Dixintong Technology Group, whose parent company, D.Phone, is one of the largest smartphone retailers in China, has entered the blockchain space by acquiring a minority stake in a U.S. startup called Monsoon Blockchain.The two companies confirmed to CoinDesk that the purchasing agreement was signed on Jan. 7, but declined to
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The development of a digital yuan, or DECP, has taken a great leap forward, according to the People’s Bank of China, the nation’s central bank.In a statement (in Chinese) Thursday, the bank said the “processes of top-level design, setting industry standards, developing potential functions and integration testing,” were “almost complete.” The
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The central bank of China has completed the top-layer design and joint testing of its soon-to-be-released central bank digital currency (CBDC).As domestic news outlet Sina reported on Jan. 10, People’s Bank of China (PBoC) accomplished the top-layer design of the planned digital yuan, developed relevant standards, carried out research
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China’s nationwide blockchain network, the Blockchain-based Service Network (BSN), will launch in April 2020, six months after it was rolled out for testing.Backed by Chinese government policy think tank the State Information Center (SIC), the ambitious project aims to provide a trusted and scalable infrastructure for supporting new blockchain
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An application for a blockchain-focused exchange-traded-fund (ETF) has been filed with China’s securities regulator, according to a disclosure from the China Securities Regulatory Commission. The proposal, filed on Dec. 24 by Shenzhen-based asset manager Penghua Fund, is for an ETF that would track the performance of a basket of publicly-listed
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While China has waged war on domestic cryptocurrency trading activities since 2017, this year saw it tighten the screws as hype around crypto’s underlying blockchain technology renewed interest in digital assets. Below is a summary of China’s difficult relationship with crypto and how it has evolved in 2019.China does
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The stock exchange of China’s technology capital Shenzhen, the Shenzhen Stock Exchange (SSE), launched an index tracking the performance of 50 blockchain firms.According to an announcement on Dec. 24, the index will be based on the stocks of 50 companies listed on the SSE that participate in the blockchain
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According to recent statements by People’s Bank of China (PBOC) official Mu Changchun, the country’s digital yuan is ready for trials. The
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China’s blockchain market is becoming more attractive than ever to foreign investors, with the industry receiving a significant boost from the central government.Although China has implemented regulations in recent years to ban technologies such as initial coin offerings and cryptocurrency exchanges, its support for blockchain, as well as artificial intelligence,
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Chinese Bitcoin (BTC) miners are now responsible for controlling as much as 66% of global hash rate, a new report claims.China’s Sichuan province is accounting for over half the global hash rate, according to a study by London-based digital asset manager CoinShares, Reuters reports Dec. 11.Hash rate is a
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