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Fintech Investment in China Surges to Record Highs

Fintech Investment in China Surges to Record Highs

The fintech sector in China has seen a surge in investments over the past five years, with $18 billion invested in the sector in the first half of 2018 alone, according to data from FinTech Global. This number dwarfs the record $12 billion invested in the sector in all of 2016. Between 2014 and the first half...

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China’s IT Ministry Calls for ‘Acceleration’ of Blockchain Standardization

China’s IT Ministry Calls for ‘Acceleration’ of Blockchain Standardization

A document published Nov. 12 on the official website of the Cyberspace Administration of China(CAC) calls on the country to “accelerate” the development of standards for the blockchain industry. The text has been authored by the Ministry of Industry and Information Technology (MIIT)’s Zhou Ping, who is also secretary general of the China Blockchain Technology and Industry Development Forum and...

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New Chinese Blockchain Alliance Plans Development of Four Finance-Oriented Platforms

New Chinese Blockchain Alliance Plans Development of Four Finance-Oriented Platforms

The “Guangdong, Hong Kong and Macao Dawan District Blockchain Alliance” has been established to promote synergy and innovation and jointly promote the development of the blockchain technology, China News, the official state-run press agency, reported Nov. 9. The newly established alliance — initiated by the Guangzhou City Blockchain Industry Association, the Hong Kong Blockchain Industry Association, and the...

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Mining Pool of China’s Oldest Bitcoin Exchange BTCC Faces ‘Indefinite’ Closure

Mining Pool of China’s Oldest Bitcoin Exchange BTCC Faces ‘Indefinite’ Closure

BTCC Pool, the mining operation of Hong Kong-based cryptocurrency exchange BTCC, will close “indefinitely” at the end of this month, a statement from the firm confirmed Nov. 6. BTCC Pool, which began mining activities in 2014, is shutting down due to unknown “business adjustments,” the company wrote, without giving details about the circumstances that led to the decision. Today’s statement reads:...

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China Updates Crypto Ranking, Downgrades BTC Further, EOS on Top

China Updates Crypto Ranking, Downgrades BTC Further, EOS on Top

China’s Center for Information and Industry Development has updated its ranking of 33 crypto projects, evaluated in three separate categories as well as overall. BTC has been downgraded further since the center’s previous update while EOS and Ethereum still top the overall ranking. New Ranking China’s Center for Information and Industry Development (CCID), under the country’s...

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Chinese Retail Giant JD.com Launches Blockchain Research Lab

Chinese Retail Giant JD.com Launches Blockchain Research Lab

Chinese retail giant JD.com is further gaining a foothold in blockchain technology by launching a research lab for blockchain in partnership with two technical institutes, according to an announcement published Oct. 30.   Jingdong Group (JD.com) is a leading Chinese e-commerce company, controlling roughly 30 percent of the business-to-consumer online market in China with 314 million active users, according to Financial Times. The...

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Responsible Blockchain World Championship announced in October

Responsible Blockchain World Championship announced in October

Joined by leaders from all over the world, the Responsible Blockchain Dialogue (RBD) was held by FinTech4Good in BNY Mellon New York office on October 4th and in Washington DC on October 10th featuring the launch of the Responsible Blockchain World Championship. Leaders from Draper Dragon Innovation Fund, SOSV, GOBI VC, Blockchain Frontier Venture Fund,...

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Largest Chinese Newspaper to Launch Blockchain Lab

Largest Chinese Newspaper to Launch Blockchain Lab

The venture capital wing of the official newspaper of the Communist Party of China (CCP) — People’s Daily Online — has signed a deal for a strategic partnership on a blockchain laboratory Oct. 23, according to a press release. People’s Capital signed a deal with Shenzhen-based technology company Xunlei Limited. Per the terms of the agreement, the two companies will construct a...

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Chinese Consortium Led by Huawei and Tencent to Launch Coinless Blockchain

Chinese Consortium Led by Huawei and Tencent to Launch Coinless Blockchain

The Chinese Financial Blockchain Shenzhen Consortium (FISCO), led by multinational telecommunication company Huawei and tech giant Tencent, will soon present its coinless blockchain FISCO BCOS, as revealed in a press release Tuesday, Oct. 18. FISCO consists of more than 100 financial entities including major players such as WeBank, a digital bank initiated by Tencent, and Shenzhen Securities Communication. The consortium is going to present...

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