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Alibaba Group and ABBC Blockchain IT Solutions LLC Finally reached a worldwide settlement

Alibaba Group and ABBC Blockchain IT Solutions LLC Finally reached a worldwide settlement

Reuters recently reportedthat the long-running conflict between China’s e-Commerce giant and the Belarus-Dubai based blockchain technology company has finally reached a global settlement. ABBC Foundation has relinquished ownership of the “Alibabacoin” name and has released sole authority of the trademark to Alibaba Group China.  One of the questions here is, why would ABBC Foundation relinquish...

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How China’s Major Banks Aim to Apply Blockchain

How China’s Major Banks Aim to Apply Blockchain

The “intelligent transformation” of commercial banks in China is accelerating. Smaller and less efficient branches are being abolished and being consolidated into large and complete outlets focusing on lighter and smarter services. To further improve their competitive advantage, many banks made it clear that they would invest heavily in financial technology, where blockchain technology is...

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Blockchain Gains Mainstream Exposure in Popular Chinese Variety Show

Blockchain Gains Mainstream Exposure in Popular Chinese Variety Show

Blockchain has been attracting global attention in these years. However, the abstract concept seems to fail to introduce and demonstrate its applicability to real-world use. Even the technically savvy may have a tough time understanding what blockchain is. Regarding this, many tech-savvy individuals, enterprises and organizations stand out to educate average people about blockchain. In the...

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Chinese Crypto Project Bottos Is Plagued By Internal Strife as the CEO Was Ousted

Chinese Crypto Project Bottos Is Plagued By Internal Strife as the CEO Was Ousted

The Chinese crypto project Bottos has plagued by the internal strife with its founder Tingting Wang and her husband Haiming Huang, the project’s ‘de facto’ controller, refusing to disclose the use of funds and ousting the co-founder and CEO Xin Song. Launched in November 2016, Bottos is a self-described all-encompassing artificial intelligence (AI) blockchain ecosystem, which provides digital marketplaces...

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Alibaba’s Ant Financial Launches 2 Blockchain Subsidiaries in Shanghai

Alibaba’s Ant Financial Launches 2 Blockchain Subsidiaries in Shanghai

Last week, Alibaba’s payment arm Ant Financial has launched two new blockchain affiliates at Huangpu District, Shanghai. Reportedly, the two blockchain startups, Ant Blockchain Technology (Shanghai) Co., Ltd, and Ant Double Chain Technology (Shanghai) Co., Ltd, mainly feature the innovation Fintech business of Ant Financial. According to the National Enterprise Credit Information Publicity System, both of the...

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Alibaba’s Ant Financial Offers $270K Bounty for Blockchain Competition Winners

Alibaba’s Ant Financial Offers $270K Bounty for Blockchain Competition Winners

Ant Financial, China’s largest online payment platform operated by Alibaba, is launching a blockchain innovation competition as part of its efforts to speed up development and implementation of the edge-cutting blockchain technology. The Ant Blockchain Innovation Competition, with the theme of “Blockchain Creates Future”, was launched Jan.4, 2019 at the Ant Technology Exploration Conference (ATEC) in Shanghai....

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Mining Fraud: Chinese Investors Lose $2 million

Mining Fraud: Chinese Investors Lose $2 million

18 investors allegedly lost 12.7 million yuan ($ 1.89 million) in China’s biggest crypto mining fraud in 2018 which was initiated by a notable photovoltaics (PV) company, blockchain-focused media 31 Degree North Latitude Pro reported on Feb.20. Rijing Photoelectric (青海日晶光电有限公司), located in Delingha, northwest China’s Qinghai Province, was hailed as a key player for Qinghai’s PV industry with strong...

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Bank of China Joins New Blockchain Platform for Property Buyers

Bank of China Joins New Blockchain Platform for Property Buyers

Property development firm New World Development and the Hong Kong Applied Science and Technology Research Institute (ASTRI) will jointly launch a blockchain platform for home buyers with the Bank of China reportedly being the first bank user. The news was announced by local news outlet the Standard on Feb. 20. The platform reportedly aims to replace paperwork operations — such as...

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Guangdong Province to Use Blockchain-Based Electronic Tax Invoices for E-Commerce

Guangdong Province to Use Blockchain-Based Electronic Tax Invoices for E-Commerce

The Guangdong Municipal Taxation Bureau will implement an electronic invoice platform based on blockchain for the e-commerce industry, local Chinese news outlet Southern News Networkreported on Feb. 18. Guangdong Province, one the most populated region in China, has opened the first blockchain electronic invoice service for customers and merchants, planning to extend their experience to the large-scale e-commerce field....

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Major Chinese University Launches Blockchain Research Center

Major Chinese University Launches Blockchain Research Center

One of the most selective universities in China, Fudan University, has opened a blockchain research center, according to an announcement published on Feb. 15. Per the announcement, Fudan University established the Shanghai Blockchain Engineering Technology Research Center in collaboration with Zhongan Online Property Insurance Co., Ltd. and Shanghai Zhongren Information Technology Co., Ltd. The center will purportedly carry out basic...

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