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Bitmain Co-Founder Dismissed & Argues Layoffs Aren’t Necessary

Bitmain Co-Founder Dismissed & Argues Layoffs Aren’t Necessary

The co-founder of Bitmain has left the mining firm after being dismissed by the CEO of the company. Being one of the biggest crypto mining firms in the world, it’s hard to keep things private to just the company. News has surfaced that suggests the firm is getting ready to slash half of its workforce....

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China’s Central Bank Completes Top-Layer Design On Digital Yuan

China’s Central Bank Completes Top-Layer Design On Digital Yuan

If 2019 was the year central banks dipped their toes into sovereign digital currencies, 2020 seems to be the year they go all in. People’s Bank of China [PBoC], the central bank of China, stated that the top-layer design on the central bank-issued digital currency [CBDC] has been completed. According to Molly from HashKey Hub, the...

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TikTok’s Owner Pivots to Blockchain as App Security Flaws Grow

TikTok’s Owner Pivots to Blockchain as App Security Flaws Grow

TikTok has been found to have serious security vulnerabilities that allow attackers to take control of accounts. The timing is prescient given the recent commitment to blockchain technology by ByteDance, the app’s owner, as a means to verify data. TikTok’s owner, ByteDance, is actively exploring blockchain technology—and the recent security flaw found on its app...

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China’s Blockchain-based Service Network (BSN) & Why it’s Extremely Relevant

China’s Blockchain-based Service Network (BSN) & Why it’s Extremely Relevant

Blockchain development has a reputation for being extremely expensive, demanding a high amount of financial, technological, and human resources to provide value to organizations. The most common type of blockchain that we generally encounter is permissionless, the types of blockchains serving as the foundation for all of the cryptocurrencies that we use regularly such as BTC and...

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Africa Might Be The First Market China’s CBDC Expands To

Africa Might Be The First Market China’s CBDC Expands To

Facebook was ‘feeling excited’ with 28 companies and others with the announcement of their crypto-project, Libra, a few months ago. But, this excitement was short-lived as most countries thought of it as a threat to their own economies. China was the first to announce its plan to launch a Libra-like cryptocurrency with its own digital Yuan. However, over...

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China May Soon Have Its First Blockchain Exchange-Traded Fund

China May Soon Have Its First Blockchain Exchange-Traded Fund

China Securities Regulatory Commission (CSRC), the country’s financial watchdog, has recently received an application for listing an exchange-traded fund (ETF) that will track blockchain-related stocks as underlying assets. Dubbed Penghua Shenzhen Stocks Blockchain ETF, the application was filed by Shenzhen-based asset management firm Penghua Fund and was accepted by the CSRC on Dec. 24, according to...

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Beijing Authorities Issue Warning: Firms Must Not Conduct Crypto Business

Beijing Authorities Issue Warning: Firms Must Not Conduct Crypto Business

Several local authorities in China’s capital city, Beijing, have jointly issued a new risk warning on cryptocurrency trading activities. The Beijing Local Financial Supervision and Administration Bureau, the Business Management Department of the People’s Bank of China, the Beijing Banking and Insurance Regulatory Bureau, and the Beijing Securities Regulatory Bureau, have all asked firms not...

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Tencent To Set Up Digital Currency Research Unit

Tencent To Set Up Digital Currency Research Unit

QUICK TAKE Chinese tech giant Tencent is said to be forming a team to research digital currencies The move is aimed at further developing the company’s payment business Tencent’s WeChat Pay is already one of the largest payment processors in the world, having over 900 million monthly active users Chinese conglomerate Tencent, with a market...

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Will China Win The Blockchain Race Leaving The US Behind?

Will China Win The Blockchain Race Leaving The US Behind?

China is the clear blockchain tech leader at the moment and the US is in danger of missing out entirely if it doesn’t even get off the starting line. CHINA LEADING THE WAY There have been no mistaking China’s intentions when it comes to blockchain technology. President Xi Jinping’s public endorsement of digital ledgers sent crypto markets...

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Chinese Courts Increasingly Use Blockchain To Settle Cases

Chinese Courts Increasingly Use Blockchain To Settle Cases

China’s smart courts are reportedly applying a variety of innovative technologies including blockchain and artificial intelligence (AI) to decide on millions of legal cases. On Dec. 5, China’s official Xinhua news agency reported that more than 3.1 million Chinese litigation activities from March to October of this year were settled through the blockchain and AI-powered smart internet...

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