People’s Bank of China Concedes Using Blockchain in its Own Digital CurrencyThe head of the People’s Bank of China conceded the central bank may use blockchain technology for its future digital currency presently under development. Speaking to Caixin Weekly, Zhou Xiaochuan stated that the PBOC may utilize blockchain technology alongside with cloud computation, secure chips, and mobile networks in its electronic currency’s operation. The statement could […]
Blockchain for Infrastructure: Two More Countries To Employ The TechThis week, two different blockchain projects, Stellar and Factom, have announced their partnerships aiming at modernization of infrastructure in different countries with the opportunities inherent in the blockchain technology. While Factom works with technology consulting company iSoftStone on development of so-called ‘smart city’ strategy for several Chinese towns with the Chinese government as an end […]
The Great Vaults of China: What’s Inside For Bitcoin Ecosystem?It’s not a secret that China is bitcoin world’s leader in many regards. Since the major cryptocurrency glut in 2013, Chinese companies started getting increasingly involved in virtual money, including mining and various financial services. Currently there are about 20 major companies involved in cryptocurrency operations, with about 800,000 customer base, not to mention smaller […]
The Chinese Government Advises to Keep Away from Mavrodi’s MMMAccording to Chinese online publication Caixin, the government of China advised citizens to avoid an alleged Ponzi scheme led by renowned Russian fraudster Sergei Mavrodi, which has become immensely popular in China.
People’s Bank of China Intends to Create a Digital CurrencySpeaking at digital currency seminar in Beijing, representatives for People’s Bank of China stated the banks had plans for creating its own digital currency. The spokespersons for the Chinese regulator said they would attempt to launch their own digital currency project “as soon as possible”. According to the official report posted on PBC’s website, the […]
Bitcoin Price Grows Amid Stock Exchange TurmoilFollowing the continuing unrest at global markets, especially China, the bitcoin exchange rate skyrocketed to $455 at the time of writing. Overnight volatility in China has caused the American stocks to open sharply lower. The Chinese capital outflow restrictions and continuing economic slowdown have been cited among the main reasons for recent ascension of bitcoin’s […]
People’s Bank of China: Banning Bitcoin is out of QuestionDespite some fears circulating for a while in the community, the Chinese goverment has no intent of banning bitcoin.