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HSBC Targets China Trade With Yuan-Demoninated Blockchain Letter of Credit

HSBC Targets China Trade With Yuan-Demoninated Blockchain Letter of Credit

HSBC has carried out the first blockchain-based letter of credit transaction denominated in Chinese yuan. The bank said Tuesday that the transaction marked progress for the Voltron trade finance blockchain platform it developed alongside other banks including BNP Paribas and Standard Chartered, Reuters reports. Letters of credit are a guarantee from a bank that a seller will get paid...

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China Telecom Releases “5G Era Blockchain Smartphone White Paper”

China Telecom Releases “5G Era Blockchain Smartphone White Paper”

On August 27th, at the China International Intelligent Industry Expo 2019, China Telecom’s Joint Block and Digital Economy Lab released the Whitepaper on Blockchain Smartphones in the 5G Era. The whitepaper describes a blockchain application ecosystem created by China Telecom, which uses an unique decentralization technology to lead the new revolution in the digital economy,...

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China Accounted For 67% Of Global Blockchain Patent Applications in H1 2019

China Accounted For 67% Of Global Blockchain Patent Applications in H1 2019

Blockchain patent applications from China-based enterprises have accounted for 67% of the world’s total, with the country’s e-commerce giant Alibaba and insurance giant PingAn being the most active filers in the first half of 2019. According to a report recently released by IPR Daily (a Chinese site dedicated to intellectual property news) in collaboration with incoPat (a...

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Circle CEO: China’s Digital Currency Could ‘Bypass’ Western Banks

Circle CEO: China’s Digital Currency Could ‘Bypass’ Western Banks

Circle CEO Jeremy Allaire says the U.S. lagging behind China’s development of a national digital currency could alter the way Western companies transfer payments. Speaking on the Global Coin Research podcast this week, Allaire said China is setting the pace in the development of a digital currency equivalent of its fiat currency, the renminbi, and could soon...

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Tether set to launch CNH-pegged stablecoin; Renrenbit to be the first investor

Tether set to launch CNH-pegged stablecoin; Renrenbit to be the first investor

The contentious stablecoin operator, Tether, is all set to issue a new stablecoin, CNHT, pegged to CNH, offshore Chinese Yuan Renminbi. The news was confirmed by Zhao Dong of DGroup, who spoke to ChainNews on August 21. RenrenBit, the digital asset management platform of Bitfinex shareholder, Zhao Dong, will be the first firm to invest in and...

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HSN COO Peter Jia: 5G Will Change Our Lives Dramatically

HSN COO Peter Jia: 5G Will Change Our Lives Dramatically

1.Peter Jia, you are the COO and Co-Founder of HSN (Hyper Speed Network), can you please introduce yourself to the community and give a little bit of background to your career? How did you come to 5G and blockchain? Hello everyone from HSN community, I am Peter Jia, Co-founder, and COO of HSN. I have...

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Hyper Speed Network – Utilizing Blockchain To Solve The Challenges In The 5G Era

Hyper Speed Network – Utilizing Blockchain To Solve The Challenges In The 5G Era

The development of 5G is gaining momentum with an increasing number of countries issuing licenses to telecom providers. China, for example, in June granted four licenses to domestic operators, including China Mobile, China Unicom and China Telecom. It doesn’t come as a surprise that China is among the first countries taking this step. Chinese smartphone...

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The Chinese State Is Allegedly Sponsoring Attacks on Cryptocurrency Firms

The Chinese State Is Allegedly Sponsoring Attacks on Cryptocurrency Firms

At this point, it’s really no secret, nor hard to believe that the Chinese government is working closely with various groups of hackers. One group, in particular, APT41, has been responsible for hacking into various businesses including some crypto-companies. A new report from FireEye alleges that the group, called APT41, has been targetting both crypto-firm and...

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Trump’s Currency War With China Could Be Bitcoin’s Do-or-Die Moment

Trump’s Currency War With China Could Be Bitcoin’s Do-or-Die Moment

The global economy faces its biggest crisis in 11 years. In theory, this should be bitcoin’s moment to shine, a chance to prove itself as an uncorrelated asset immune from political risks. Eventually, that result may bear out. But a rocky road lies ahead – for bitcoiners and nocoiners alike. Before we do the bitcoin...

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Bitcoin’s Computing Power Sets Record as Over 100K New Miners Go Online

Bitcoin’s Computing Power Sets Record as Over 100K New Miners Go Online

The total computing power now dedicated to securing the bitcoin blockchain has set yet another record. According to data from mining services operator BTC.com, the average bitcoin mining hash rate over the last two weeks has reached 71.43 quintillion hashes per second (EH/s), up from 64.49EH/s on July 23. The threshold was breached as bitcoin adjusted its mining...

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