Tagged: china

Shenzhen-based Tencent Holdings Launches Blockchain Accelerator, will Coach 30 DLT Startups

Tencent Holdings Ltd., a Chinese multinational conglomerate holding company whose subsidiaries offer various Internet-related products and services, has introduced a blockchain accelerator program. Tencent, which is among the world’s most valuable companies and also one of the largest VC firms and investment corporations, says it… Read More

Fintech: Bank of China to Expand its Financial Tech Regulatory Pilot to Shanghai, Shenzhen, Several Other Chinese Cities

The Bank of China, one of the four largest state-managed commercial banking institutions in the country with over $3 trillion in assets, introduced its very first Fintech-focused regulatory pilot initiative in Beijing in 2019. The bank now says it will further expand its regulatory pilot… Read More

Ping An Insurance Releases Q1 2020 Performance Report, Says its Wealth Management Firm Lufax Is using AI to Enhance Operations during COVID-19

Ping An Insurance Group, China’s largest insurance and logistics conglomerate, has released its Q1 2020 financial results for the three months ending on March 31, 2020. Ping An’s management noted that they are coping with the Coronavirus (COVID-19) outbreak by adopting measures which include a… Read More

China: WeiyangX Fintech Review

People’s Bank of China Held 2020 Anti-Money Laundering Work Virtual Conference On April 15th, the 2020 PBC Anti-Money Laundering Work Virtual Conference was held in Beijing. The conference fully recognized AML achievements made by the People’s Bank of China (PBC) in 2019, analyzing the current… Read More

The Economist Calls China’s CBDC the Anti-Bitcoin

While everyone expects the People’s Bank of China to launch a limited trial of its Central Bank Digital Currency (CBDC) or Digital Currency Electronic Payment (DCEP) as it is called in the country questions have frequently emerged as to how the government will utilize the… Read More

Fintech Funding Declined Sharply During Q1 2020, Many Firms Could Get Acquired by Incumbents, Due to COVID-19 Crisis: Report

Fintech funding has declined significantly during the first quarter of this year, mainly due to the Coronavirus (COVID-19) outbreak, and resulting social and economic challenges. A recent report from Forrester has cautioned that many companies could be forced to shut down as the effects of… Read More

China Expected to Enlist the Assistance of Starbucks, McDonalds & Others to Test Central Bank Digital Currency

China has long been expected to become the first nation to launch a Central Bank Digital Currency (CBDC). Periodically, reports have popped up regarding the development of the digital currency and today we have another glimmer on the progress driven by the People’s Bank of… Read More

Israeli Blockchain Firm Orbs Launches “Stay at Home Challenge” App to Encourage People to Self-Quarantine Following COVID-19 Outbreak

Crypto and blockchain or distributed ledger tech (DLT) firms have been developing solutions to help people cope with the deadly Coronavirus (COVID-19) outbreak. Several crypto and Fintech firms and organizations have launched charitable initiatives in order to provide financial relief and other types of assistance… Read More

This Weekend, China Will Launch the Blockchain-based Service Network that Drops Cost of DLT Utilization Down to a Couple Hundred Dollars

The Blockchain-based Service Network (BSN) in China aims to change the existing problem of the high cost of developing and deploying blockchain applications by providing public blockchain resource environments to developers. According to BSN, just like the internet, the ubiquity of access can greatly reduce… Read More

Blockchain Adoption: Nearly All of China’s Largest Financial Institutions are Using Distributed Ledger Technology

Over 70 Chinese financial services companies, including all state-managed banking institutions and the nation’s largest technology firms, are currently using some type of blockchain or distributed ledger technology (DLT)-enabled financial applications. This, according to the Industrial and Commercial Bank of China (ICBC), a multinational Chinese… Read More

Huh? dForce Hacker Pilfers $25 Million in Crypto then Returns the Funds

On April 19th, Mindao Yang, founder of dForce, confessed that $25 million crypto had been stolen from his platform. In a blog post, Yang said Lendf.Me, the lending protocol of dForce, was attacked and a vulnerability was exploited to steal the digital assets. Today, it… Read More

China’s Virtual Yuan will Use Dual Offline Technology to Ensure that the National Digital Currency Works Even with Poor Signal Strength

The Bank of China’s somewhat secretive digital currency pilot program has made many people quite curious. The bank recently provided an official explanation of how the virtual yuan or renminbi was being tested and how it might work if and when it is launched. A… Read More

Filecoin, a Decentralized Storage Network, Delays Project Launch Again After Reviewing Recent Code Security Audit Results

Filecoin, a highly-anticipated decentralized storage network (under development), announced that there will be more delays before its mainnet can be officially launched. Filecoin’s developers have postponed the release date for their mainnet to between late July and late August 2020. As mentioned in a recent… Read More

Bitcoin Scam: 14 Chinese Men Arrested in Malaysia for Allegedly Luring Investors into Fraudulent Cryptocurrency Investment Scheme

  Authorities in Malaysia have arrested 14 Chinese citizens because of their alleged involvement in a Bitcoin-related scam, which reportedly targeted unsuspecting investors in their home country. Dzulkhairi Mukhatar, the assistant commander in Malaysia, confirmed that the men were taken into police custody on April… Read More

China: WeiyangX Fintech Review

China Encourages Innovation of Exhibition Industry On April 13th, the General Office of the Ministry of Commerce issued a circular on work related to innovating exhibition service models and cultivating new momentum for the development of the exhibition industry. The circular proposes to support cross-city… Read More

Digital Bank WeBank to Explore Using DAML, an Open-Source Smart Contract Programming Language for Meeting Regulatory Requirements

WeBank, one of China’s first all-digital challenger banks, has revealed that it will begin exploring  the potential integration of DAML, which is an open-source smart contract programming language developed by Digital Asset (the company). The DAML software has been developed in order to help software… Read More

CBDC: People’s Bank of China Says its Main Priority is to Enhance Top Level Design of Central Bank Digital Currency

Happy Buddha

The People’s Bank of China (PBoC), the nation’s central bank with over $3.2 trillion in reserves, recently held a discussion in the capital city of Beijing. The PBoC’s officials confirmed during the conference (held on April 3, 2020) that the reserve bank would continue to… Read More

China: Zhejiang University International Business School Announces Fintech Masters Program

Zhejiang University International Business School (ZIBS) has announced a new English taught Masters program. The Masters of Fintech will be taught in the Zhejiang Province – a leading center of Fintech innovation and home to Ant Financial (part of Alibaba) one of the largest Fintech companies… Read More

China: WeiyangX Fintech Review

Chinese Banks Seek Technology Talents for Digital Transformation The outbreak of the COVID-19 has accelerated the digitalization process of the financial industry. In order to respond better to future challenges, banks in China are seeking more technology talents. For example, Postal Savings Bank of China… Read More

Alipay Launches Series of Initiatives to Support Small Businesses in Wuhan Following Lockdown Lift

Alipay, a digital lifestyle platform operated by Ant Financial Services Group, announced on Wednesday it has launched a series of initiatives to support small businesses in Wuhan as the city lifts the COVID-19 pandemic lockdown. The platform reported it has set up a special section,… Read More

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