Blockchain utilization is continuously rising in various countries across the world, a recent report revealed. It outlined that US-based companies have been awarded the most substantial number of patents for blockchain endeavors, but the Chinese multinational giant Alibaba is the single entity to receive the most. Blockchain Patents Across The Map The report from the...Read More
If you thought that the city of Wuhan was done for 2020, well, think again. Reports have it that at least some of 83 tons of gold bars, used as collateral for loans, turned out to be gilded copper. For more than five years, Wuhan Kingold Jewelry has been getting gold-collateralized loans worth over 20...Read More
More companies are utilizing blockchain, reveals a recent study compiled by the multinational professional service network Deloitte. Interestingly, the Asia-Pacific region appears to be leading on the matter with the most use cases employing the distributed ledger technology (DLT). Blockchain Matures Deloitte surveyed nearly 1,500 senior executives and practitioners from large companies from 14 countries,...Read More
President Donald Trump has urged Treasury Secretary Steven Mnuchin to “go after Bitcoin” as early as mid-2018 amid the ongoing trade war with China, according to an unpublished book written by his former national security advisor John Bolton. Trump Against Bitcoin President Trump has not been supportive of any cryptocurrency as he pointed out himself...Read More
Despite the lacking demand as of yet, the Bank of Korea (BOK) has set up a legal advisory group to review any legal issues before possibly launching a central bank digital currency (CBDC) in the future. BOK To Review Legal Matters Around CBDC According to a local report from today, South Korea’s central bank has...Read More
A recent study published by Amun researcher, Eliézer Ndinga, shows that USD-pegged stablecoins are being leveraged in Hong Kong as “vehicles for capital control flight.” The report shows how individuals from mainland China, Singapore, and Hong Kong are moving their capital out of control by using these dollar-pegged blockchain tokens. Last week on June 9,...Read More
China will always remain a controversial country when it comes to handling cryptocurrencies. This is primarily due to all of the illicit activities taking place within its borders. In a new crackdown against illegal crypto money streams, the Chinese government has taken a different approach. China Targets Crypto Bank Accounts Rather than collecting data for...Read More
The Bitcoin hash rate appears to be migrating west after the percentage of BTC mining taking place in the United States increased by 78%, leading into 2020. That’s according to the latest data from the Cambridge Center for Alternative Finance (CCAF), presented in a report by TokenInsight, which shows the US-based Bitcoin hash rate rose...Read More
China-based bitcoin miners have started to migrate southbound from North China, according to local reports. The operators are having difficulties and are transitioning mining facilities for cheap hydro-powered electricity. Testimonials also show that 64 mining operations in the prefecture in Yunnan have been threatened by local authorities. Sources say a hydropower station discharge sparked a...Read More
Recent Chinese reports informed of hidden Bitcoin mining rigs stealing electricity in the northern city of Daqing. Interestingly, the perpetrators were concealing their operation under two mysterious grave mounds in a relatively empty field. BTC Mining Operations In Hiding According to the recent report, a Chinese oil field company sent a tip to local police...Read More
People in China can now inherit the digital assets of their parents after them. This came out in the new legislative assembly meeting. China recently passed a long-awaited Inheritance law that covers Digital assets too. But what led to this inclusion, what events occurred which emphasizes the need for inclusion of digital assets! Let us...Read More
The Chinese People’s Political Consultative Conference(CPPCC), the advisory body of the Republic of China, recently emphasized the need for the adoption of the blockchain technology in various sectors in the country. China is one of the countries to be recognized as one of the fast countries to adopt blockchain technology and implement it in various...Read More
New information suggests that local government authorities in the Chinese province Sichuan are seeking to ban cryptocurrency mining operations in the region. Contrary, sources familiar with the matter claim that these notices are misunderstood, and crypto mining will not suffer major negative consequences. A Region In China Clamps Down On Crypto Mining? The story began...Read More
Bitcoin kissed the $10K mark goodbye this week as the cryptocurrency dropped to as low as $8,800 on Thursday, reaching the trend-line that was forming since the massive drop in March. As expected, BTC received strong support in that area, and its price quickly recovered to around $9,200, where it’s currently trading. The dump started...Read More
Recent Chinese reports indicate that a new cryptocurrency scam, resembling the notorious PlusToken, has been brought to trial this week. Dubbed WOTOKEN, allegedly scammed over 700,000 users and absorbed more than $1 billion worth of Bitcoin and other digital assets. The New Chinese Threat: WOTOKEN According to local reports, the trial began on May 14th...Read More
The Chinese ASIC mining rig manufacturer Bitmain reportedly pulled in $300 million in revenue during Q1 2020. Meanwhile, as Bitmain claims to be regaining market share, the firm Ebang recently applied with the U.S. Securities and Exchange Commission (SEC) for initial public offering (IPO) status. However, the prospectus sent to SEC shows that while Ebang...Read More
Bitcoin’s halving is right around the corner. It will slash the block reward miners get from minting new bitcoins in half and potentially reduce the supply of the cryptocurrency on the market. Historically, this has been a major bullish catalyst for Bitcoin as its price has so far increased substantially after the two previous halvings....Read More
Many blockchain firms and projects try to gain relevance during the coronavirus crisis. One blockchain firm in China can no longer sell medical supplies by order of the government. Companies are scrambling to play their part during the coronavirus pandemic. Blockchain Firm in China Gets Blacklisted That is often much easier said than done, however....Read More
China’s anticipated central bank digital currency (CBDC) may be closer to its launch, as per a screenshot circulating the internet. While testing should be entirely confidential, the leaked photo is hinting the test version of a mobile app developed by a large state-owned bank. An App For China’s CBDC Information from a few weeks ago...Read More
China has always been in the spotlight when it comes to cryptocurrencies, despite the country’s controversial legislation on the matter. Last year, President Xi Jinping urged for further investments in blockchain-based technology, causing Bitcoin to mark an increase upwards of 40% in less than 24 hours. Now, however, regulations seem to be tightening up, and...Read More
An alliance consisting of Chinese government groups, banks, and technology companies will launch the Blockchain-based Service Network (BSN) in April. The innovative platform will be among the first maintained by a central government. It will allow participants to operate on top of it, without having to design a new network from scratch. Blockchain-Based Service Network...Read More
In the past seven days, bitcoin managed to add another 10% to its dollar-value as the price spiked from about $6,000 to its current point at $6,600. Yet, most of the time, it traded within a narrow range between $6,400 and $6,700. The overall volume has also declined, and, as such, the volatility decreased. If...Read More
China is one of the first countries to seemingly recover from the coronavirus crisis. In fact, it would appear that the national blockchain network launch will still go ahead as planned, which is rather surprising. China has made its blockchain ambitions very clear in recent months. China’s Blockchain Project is Still Alive The country will...Read More
A group of angry victims of insolvent Chinese cryptocurrency exchange, FCoin, has reportedly gone after the family members of CEO Zhang Jian to get refunds for their missing funds, according to local reports. FCoin Users Not Impressed Some of the affected users had formed several Rights activist groups since the CEO first announced that they...Read More
Bitcoin’s hash rate just hit another new all-time high of 136 EH/s, an indication that miners are not backing out despite the recent selling pressure which led to a slump in the price of BTC last week. Miners Are Bullish On Bitcoin Data on Blockchain.com suggests that Bitcoin’s hash rate has been increasing steadily since...Read More
Bitcoin lost a serious chunk of its Dollar value this week. Down about 12% over the past seven days, the cryptocurrency is currently trading at around $8,700. It’s essential to see where it goes from here. From above, there’s the 200-days moving average at $8,800, which has now turned to resistance. Bitcoin hasn’t closed a...Read More
A 2013 video depicting a EU minister’s tirade against the global banking system has gone viral and it’s more relevant now than ever. The post ‘The Banks Are Broke’: This Viral Video From 2013 Is More Relevant Than Ever appeared first on CCN.com The post appeared first on CCNRead More
Bitcoin’s rally has occurred almost in lockstep with the spread of coronavirus. Still, analysts are cautious to attribute the gains to the outbreak. | Source: Shuttersock. | Source: Shuttersock Is there a correlation between bitcoins price action and the coronavirus spread? Virus-infected yuan placed in quarantine—Bitcoin fixes this. Bitcoin mining takes a dive following China’s...Read More
The spread of the coronavirus continues, and more countries appear to take serious measures for its containment. Amid the tragic effect on people’s health, the cryptocurrency space recently saw the birth of the CoronaCoin – a coronavirus-backed token. The Creation of CoronaCoin Earlier today, the discussion of the new coronavirus-backed coin was published in a...Read More
If you are not living under the rock, then you might have come across the fatal virus that has taken the entire world under its grip. The news about this new virus–Coronavirus has spread wide afar and many countries have reported causalities. Coronavirus, also renamed as COVID-19 (World Health Organisation), is the most novel virus...Read More
