A common belief that has been doing the rounds lately is that Bitcoin’s recent price behavior is a replica of its historic 2017 bull run. That’s all well and good, but what most people forget is that back in 2017, there were stories equating the 2017 bull run to 2013’s. #bitcoin is creeping up people!!!I...Read More
The importance of this current week has been fairly downplayed. Years down the line, the global payments system might look back at this particular period and suggest that this is where it all started. Let’s jog our memories on what actually happened. In two ‘un-correlated’ announcements, the People’s Bank of China-controlled finance magazine stated the importance...Read More
Authorities in Shenzhen have started pressuring crypto businesses operating in China’s tech capital. Eight companies, two suspected operators of trading platforms, and six entities allegedly associated with coin offerings, have been placed under inquiry, Chinese media revealed, with authorities reportedly questioning their representatives at a meeting hosted by Shenzhen Financial Regulatory Bureau. Also read: Crypto...Read More
Chinese State Media Praise Bitcoin as a “Successful Application of Blockchain” Blockchain fever overruns the people’s republic Bitcoin propaganda comes as China preps to launch digital currency in 2020 China has taken yet another step towards fully embracing Bitcoin, calling it “The First successful application of blockchain technology.” The entirety of the people’s republic has...Read More
China’s central bank, the People’s Bank of China (PBoC), has said that it will certify 11 different types of financial technology (Fintech) hardware and software that are regularly being used for online payment and blockchain-related services with its new verification system, the Certification of Fintech Products. The PBoC introduced the initial list of Fintech products...Read More
A devoted team of the PBOC’s Digital Currency Research Lab is currently setting up its digital currency system in a restricted environment aiming to launch it before Facebook’s Libra enters the market. After Facebook unveiled the white paper for its Libra Project in June, the People’s Bank of China (PBoC) got working. The PBoC is...Read More
China’s central bank has refuted media reports of it launching a state-backed cryptocurrency, according to Global Times, a government-affiliated news agency.Refuting media reports of launching a state-backed cryptocurrency in the coming months, #China‘s central bank termed them as “inaccurate speculation.” pic.twitter.com/Sb4tQVPD3G— Global Times (@globaltimesnews) August 28, 2019The People’s Bank of China (PBoC) called the coverages...Read More
“Our view was that RMB was going to grow in the world”, said Jeremy Allaire, the CEO and founder of the digital currency company Circle, as China geared up for its first-ever government-backed digital currency. Recent reports revealed that the central bank digital currency is “almost ready” after five years of work. In a recent...Read More
Beijing’s state-issued offering might also help keep funds flowing into bank deposits, mainstream media reports. China’s answer to Facebook’s Libra digital currency could help the central bank attract business away from Alipay and WeChat Pay. Speaking to mainstream media outlet the South China Morning Post (SCMP) on Aug. 19, Cindy Wang, an analyst at DBS...Read More
Photo: Pixabay Last week we reported how China is preparing their own digital currency dubbed CBDC after five years they have been working on it. However, after the analysis of over 50 patent applications that were filed by the People’s Bank of China, it has become clear that the pattern of this digital currency will...Read More
