Digital Renminbi: A Fiat Coin to Make M0 Great Again

Digital Renminbi: A Fiat Coin to Make M0 Great Again

Dovey Wan is a partner at Primitive Ventures, a crypto asset investment fund.
China, Whales, New Buyers or the Reward Halving? Why Bitcoin Is up 60% in Two Weeks

China, Whales, New Buyers or the Reward Halving? Why Bitcoin Is up 60% in Two Weeks

Bitcoin has made a leap in the past fortnight. Granted, the rally started two months ago. However, it’s in the past two weeks that the digital currency has made the biggest gains. Currently trading at $7,900, it hit $8250 earlier today, a level it last hit close to a year ago. The other cryptos have also followed the example set by their leader, but BTC has been the biggest gainer by far.
WeChat Plans to Stop Merchants From Transacting in Cryptocurrencies

WeChat Plans to Stop Merchants From Transacting in Cryptocurrencies

WeChat, the #1 messaging app in China, is also widely used for cryptocurrency transactions. Recently, WeChat Payment has revised the “WeChat Agreement for Payment Service,” which involves the control and regulation of illegal transactions, including cryptocurrency transactions. The revised agreement will be put into effect on May 31, 2019. According to the first, second and third terms of the agreement, direct or disguised engagement in internet gambling, pornographic platforms, internet lottery sales platforms, illegal foreign exchanges, precious metal investment trading platforms, illegal securities and futures trading platforms, token issuance financing and cryptocurrency trading platforms are not allowed on WeChat; asset management business on the internet without the approval of the regulatory authorities is not allowed, as well as illegal transactions such as commodity trading sites, without the approval of the provincial government; and Tenpay, the payment platform of WeChat, shall have the right to stop the payment and settlement services.
Bitcoin Mining’s New Bidding War

Bitcoin Mining’s New Bidding War

The Takeaway As bitcoin’s price edges up, secondhand mining equipment is becoming more profitable to run As a result, the price of used miners has nearly doubled in recent weeks, to $250-$320 for old Bitmain Antminers Somewhere between 220,000 and 700,000 mining units could come online this summer Newer, more powerful models won’t be shipped for months and take longer to pay for themselves
WeRide to Bring Commercial Autonomous Taxis to China in July

WeRide to Bring Commercial Autonomous Taxis to China in July

Over the past few years, there has been an increasing focus on autonomous vehicles of all forms, shapes, and sizes. In China, research and development of this new form of transportation has taken an interesting turn. WeRide, a domestic startup, will attempt to launch their first commercial autonomous taxis in two cities later this year. This is done in an effort to rival the likes of Google and Uber. Commercial Autonomous Taxis Come to China It is commendable to see so many different companies work on autonomous vehicle technology.
China’s Foreign Exchange Regulator Piloting Blockchain in Trade Finance

China’s Foreign Exchange Regulator Piloting Blockchain in Trade Finance

The agency that regulates and manages China’s foreign exchange reserves has developed a blockchain system aimed to address inefficiencies in cross-border trade finance. As reported by local financial news source CNStock, the State Administration of Foreign Exchange (SAFE) worked with the Hangzhou Blockchain Technology Research Institute to build the open blockchain platform, which uses multi-signature technology to keep transaction content private, revealing details only to the firms involved and regulators such as those relating to customs, taxation, industry and commerce.
Is Bitcoin Mining Finally Profitable for Miners in 2019?

Is Bitcoin Mining Finally Profitable for Miners in 2019?

The recent bitcoin rally has driven bitcoin mining profits. Profits earned from bitcoin mining have seen a clear rise since the start of April 2019 and hit a near half-a-year high on April 15, 2019. Source: BCtrend According to crypto analyst Alex Kruger, the breakeven cost for efficient bitcoin mining operations currently hovers around $3,550 to $4,350, while the price of bitcoin is in the $5,500-plus range at the time of this writing.
Chinese Bitcoin Miners Suffer in Iran Despite Cheap Power

Chinese Bitcoin Miners Suffer in Iran Despite Cheap Power

This article was originally published by 8btc and written by Lylian Teng. Many Chinese cryptominers have migrated to places with cheap electricity and favorable policies as a result of the escalated government crackdown on cryptocurrency and its production process.
China Attemps to Spoil the Bitcoin Bull Run With Mining Ban Proposal

China Attemps to Spoil the Bitcoin Bull Run With Mining Ban Proposal

Any news coming out of China tends to trigger some cryptocurrency market momentum. In recent years, most of the news has been negative, which won’t surprise too many people. In the most recent development, it would appear China’s state planner wants to put an official end to Bitcoin mining in the country. It is one of several dozen activities to be “blacklisted’ in the country. China Goes After Bitcoin Again Ever since Bitcoin trading in China took a big hit due to new regulatory measures, the country has continued its effort to thwart any cryptocurrency activity.
China’s Proposed Mining Ban Could Be Detrimental to Bitmain

China’s Proposed Mining Ban Could Be Detrimental to Bitmain

China’s state planning agency, the National Development and Reform Commission (NDRC), has indicated an interest in banning cryptocurrency mining in the country through a notice published online in Mandarin. The report stated that the NDRC will include cryptocurrency mining activities to a list of sectors that could be shut down based on their violation of local regulations, wastefulness, safety concerns or harmful contributions to the environment.
Head Transplant “Visionaire” Dr. Canavero Isn’t Giving up on his Dream

Head Transplant “Visionaire” Dr. Canavero Isn’t Giving up on his Dream

Around two years ago, the idea of potentially transplanting human heads onto different bodies got some attention. While the initial surgery never took place, the surgeon in question has not given up on this idea just yet. Dr. Sergio Canavero, also referred to as “Dr. Frankenstein”, recently announced another breakthrough where head transplants are concerned. He now plans to perform this surgery on a human, assuming a guinea pig can be found. Dr. Canavero is not Giving up The concept of transplanting a human head still raises many questions which seemingly can’t be answered right away.
Pharma Scandal Prompts Calls to Put Vaccine Data on a Blockchain

Pharma Scandal Prompts Calls to Put Vaccine Data on a Blockchain

A scandal around the fraudulent actions of a vaccine manufacturer in China has sparking a heated debate over the last week – and now the Chinese cryptocurrency community is suggesting blockchain as a potential solution. The uproar followed a report from China’s State Drug Administration, which, based on a tip-off, launched an investigation of the company – Changsheng Biotechnology – and found that it had falsified aspects of its rabies vaccine production data. The news immediately drew widespread criticism both in the country and internationally, amid fears that some vaccines may not be safe to give to children.
China Has Built a Blockchain System That Could Replace Paper Checks

China Has Built a Blockchain System That Could Replace Paper Checks

China’s central bank has finished work on a blockchain-based system that digitizes checks issued by domestic businesses, according to a senior official. In an op-ed published by a local news source on Tuesday, Di Gang, deputy head of the digital currency research lab at the People’s Bank of China, said the department has “completed the infrastructure of a system that issues digital checks based on a blockchain with smart contracts technology.
Chinese Blockchain Complex Offers Startups Millions in Subsidies

Chinese Blockchain Complex Offers Startups Millions in Subsidies

A newly established blockchain industrial park in the Chinese city of Hangzhou is hoping to attract talented individuals and startups by offering millions of dollars-worth of subsidies. A policy guide announcing the incentives was published on Thursday via the official WeChat account of the Xiong’An Fund (which translates as “Grand Shores Fund”) – the primary operator of the blockchain complex, both of which were launched in April.
Chinese City to Use Blockchain In Fight Against Tax Evasion

Chinese City to Use Blockchain In Fight Against Tax Evasion

Chinese internet giant Tencent has partnered with the tax authority of the city of Shenzhen to use blockchain in the fight against tax evasion. Announced Thursday, the Shenzhen National Taxation Bureau and Tencent have jointly set up an “Intelligent Tax” innovation lab, that aims to promote technological innovation around taxation processes. The lab will combine theoretical research with nascent technologies, such as cloud computing, artificial intelligence, blockchain, and Big Data, for taxation management and electronic invoice applications, a release states.
12 Chinese Banks Say They Deployed Blockchain in 2017

12 Chinese Banks Say They Deployed Blockchain in 2017

Nearly half of the 26 publicly listed banks in China say they deployed blockchain applications in 2017, according to a report. Chinese banking industry news source CEBNet said Friday that, among the 26 Chinese banks, 12 of them disclosed in their annual filings that blockchain applications were adopted for various use cases over the last year. The 12 institutions include major state-owned commercial banks such as the Bank of China, China Construction Bank and the Agriculture Bank of China, as well as other privately held ones, including China Merchants Bank and other city-level entities.
Bitcoin Futures Trading Questioned By Chinese National Media

Bitcoin Futures Trading Questioned By Chinese National Media

China National Radio (CNR), a high-level government mouthpiece, has aired doubts about the legality of services offered by OKEx, the Hong Kong-based cryptocurrency exchange launched by OKCoin, previously one of the “Big Three” trading platforms in China. Through its podcast channel “Voice of China” on Thursday and later an article titled “Exchanges that still prevail after the ban,” CNR alleged that OKEx violated rules by offering bitcoin contracts to mainland Chinese investors after it claimed to have moved its business overseas.
China Needs Better Regulation for Blockchain Growth, Experts Say

China Needs Better Regulation for Blockchain Growth, Experts Say

Blockchain’s future growth in China will rely on well-designed regulatory and standardization frameworks in the country, according to industry experts. At the 2018 Bo’Ao Forum for Asia in China’s Hainan province on Tuesday, speakers including Chen Lei, CEO of cloud network provider Xunlei, and Li Lihui, who heads the Blockchain Research Working Group at China’s National Internet Finance Association (NIFA), discussed the latest blockchain developments in China, as well as the tech’s future prospects.
Crypto Escapes Scrutiny at Annual China Investor Event

Crypto Escapes Scrutiny at Annual China Investor Event

Cryptocurrencies were not brought up for criticism at an annual Chinese consumer protection event, despite rumors to the effect. Multiple sources had shared rumors with CoinDesk in early March that major policy changes would be announced on Mar. 15 night during a national TV program to curb cryptocurrency activities in China, such as trading and disguised initial coin offerings (ICOs). The annual show is hosted by China Central Television, the country’s official broadcast mouthpiece, in celebration of the World Consumer Rights Day, during which questionable company conducts are exposed for the sake of public safety.

Now Is the Time to Stock up on Bitcoin: Chinese Crypto Billionaire

Bitcoin is still struggling at $3,600, with the currency unable to break above $4,000 in the past month.

China Cracks Down on Anonymity of Blockchain and Crypto Service Providers

China has always been a very interesting region to keep an eye on when it comes to cryptocurrency. Unfortunately, that is not always for the right reasons either, which is what makes every bit of news a double-edged blade. In the latest “publicity stunt” Chinese officials are now looking for ways to deanonymize cryptocurrency and blockchain service users. China Still Dislikes Cryptocurrency Over the past few years, it has become increasingly apparent China has no real love lost for cryptocurrencies.
Huobi Group Sets Up Communist Party Committee in Beijing

Huobi Group Sets Up Communist Party Committee in Beijing

As part of its desire to forge deeper ties with the Chinese government, Huobi Group, the parent company of digital asset platform Huobi, has formed a Communist Party committee in China, according to an announcement by the company. The new branch was established by a Huobi subsidiary, Beijing Lianhuo Information Service, and will reside in the Haidian District of the municipality of Beijing.

Chinese School Principal Fired Over Illegally Mining Ethereum

It is not uncommon for students to get crafty when they aim to mine cryptocurrencies. Some use the “free” electricity of their dorm to mine Ethereum and other altcoins. In China, one entire school seemingly had a secret Ethereum mining operation going for quite some time. Cheap electricity sparks a lot of interesting, albeit not always legitimate, business models moving forward. Cryptocurrency Mining in China Remains Popular No one will deny China has always been an awkward country when it comes to Bitcoin and other cryptocurrencies.
Distributed Dialogues: Political Censorship in China

Distributed Dialogues: Political Censorship in China

On the latest episode of Season 2 of Distributed Dialogues, the hosts took a deep dive into the state of political repression in the People’s Republic of China.

Chinese City Aims to Replace Street Lights With an Artificial Moon

China is one of the more interesting regions to keep an eye on when it comes to innovative technological projects. One of the most recent ventures focuses on replacing street lights with a miniature moon. This will be achieved through a so-called illumination satellite, which should be put in orbit by 2020. An Artificial Moon to Illuminate Streets There is a case to be made for the project envisioned by Chengdu city officials.