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China’s Government Identifies Essential Application Areas For Blockchain Adoption

Crypto News Point

Jun 9, 2021
2 min

China’s Government Identifies Essential Application Areas For Blockchain Adoption

Report said that China’s Office of the Central Cyberspace Affairs Commission and the Ministry of Industry and Information Technology (MIIT) have identified four essential application areas for blockchain adoption. It has been reported that the MIIT’s five-point agenda for blockchain adoption is part of a document issued on Monday detailing guiding opinions to accelerate the promotion of the emerging technology for industrial development. However, as previously reported, China

China Launches Another Digital Yuan Lottery To Stimulate Its Ongoing Digital Currency Trials

Crypto News Point

Jun 5, 2021
2 min

China Launches Another Digital Yuan Lottery To Stimulate Its Ongoing Digital Currency Trials

The capital of Beijing is launching another digital yuan lottery to stimulate its ongoing digital currency trials. It has been reported by The Beijing Local Financial Supervision and Administration that the Chinese government will distribute 40 million digital yuan ($6.2 million) to Beijing residents as part of a new digital currency pilot. However, starting in June, the program features “red envelopes,” a traditional way of gifting money, with each providing a free online wa

JD.com Supports China’s Digital Currency Payment To Pay Salary To Employees

Crypto News Point

Apr 28, 2021
2 min

JD.com Supports China’s Digital Currency Payment To Pay Salary To Employees

JD.com, the Chinese e-commerce company, has supported China’s digital currency payment to pay salaries to employees. It has been reported that JD.com has been using China’s Digital Currency Electronic Payment (DCEP) system since January. However, the e-commerce firm revealed the news on Sunday while announcing its participation in the one-year DCEP trial show at the fourth Digital China Summit in Fuzhou slated for Sunday and Monday. By commenting on its digital yuan adoption

China To Allow Foreign Athletes To Use Its Digital Currency During Beijing Winter Olympics In 2022

Crypto News Point

Apr 21, 2021
2 min

China To Allow Foreign Athletes To Use Its Digital Currency During Beijing Winter Olympics In 2022

China has planned to allow foreign athletes and visitors to use the county’s digital currency during the Beijing Winter Olympics in 2022. It has been reported that Li Bo, the Deputy Governor of the People’s Bank of China (PBoC), said that the upcoming Winter Olympics could potentially become the first test of China’s central bank digital currency (CBDC) by foreign users. Li said: “For the upcoming Beijing Winter Olympics, we were trying to make e-CNY available not only to dom

China’s Inner Mongolia To Close Down All Local Crypto Mining Facilities To Reduce Energy Consumption

Crypto News Point

Mar 3, 2021
2 min

China’s Inner Mongolia To Close Down All Local Crypto Mining Facilities To Reduce Energy Consumption

China’s Inner Mongolia has decided to close down all local cryptocurrency mining facilities to reduce energy consumption in the region. It has been reported that the Inner Mongolia National Development and Reform Commission (NDRC) released an official proposal to shut down local crypto mining operations in line with its energy-saving rules. However, the draft proposal suggests “comprehensively clean up and shut down virtual currency mining projects” by the end of April. The a

Ernst & Young Expands Its Blockchain Services In China, Partners With BSN And FISCO BCOS

Crypto News Point

Feb 9, 2021
2 min

Ernst & Young Expands Its Blockchain Services In China, Partners With BSN And FISCO BCOS

Ernst & Young (EY), the London-based multinational professional services network, has expanded its blockchain services in China in partnership with major local blockchain projects Blockchain Service Network (BSN) and Financial Blockchain Shenzhen Consortium (FISCO BCOS). It has been reported that EY will specifically offer its two blockchain solutions, EY Blockchain Analyzer and EY OpsChain, through the Chinese national blockchain initiative, the Blockchain-based Service Netw

People Of China Conduct 20,000 Transactions Via JD.com

Crypto News Point

Dec 15, 2020
2 min

People Of China Conduct 20,000 Transactions Via JD.com

Report said that people of China have conducted around 20,000 transactions through e-commerce company JD.com in a trial of the country’s digital yuan. It has been reported by JD.com that 80% of participants born in the 1980s and 1990s used the platform to conduct transactions in the digital currency starting on Friday evening, with at least one transaction larger than $1,527. However, the e-commerce site also reported the numbers as the city of Suzhou conducted a real-world t

China Plans To Adopt Blockchain For Several Use-Cases In The City

Crypto News Point

Nov 2, 2020
2 min

China Plans To Adopt Blockchain For Several Use-Cases In The City

Chengdu, the city in China, plans to adopt blockchain for several use-cases throughout the city, including urban governance, cross-border trade, smart manufacturing, and agriculture. It has been reported that during the 2020 Chengdu Global Innovation and Entrepreneurship Fair, the city’s first International Blockchain Industry Expo, Lu Tiecheng, the Secretary of the Party Group of the Chengdu New Economy Committee, released the “Chengdu Blockchain Application Scenario Supply

China’s $1.5 Million Digital Yuan Lottery Winners Receive Their “Red Packets” Of Digital Yuan

Crypto News Point

Oct 19, 2020
1 min

China’s $1.5 Million Digital Yuan Lottery Winners Receive Their “Red Packets” Of Digital Yuan

A report said that the vast majority of China’s $1.5 million digital yuan lottery winners have received and spent their “red packets” of digital yuan. On October 18, it has been reported by the Shenzhen authorities that as of October 18, a total of 47,573 out of 50,000 lottery winners in China have received their prizes. However, the winners conducted a total of 62,788 transactions accounting for 8.8 million yuan ($1.3 million), as this amount represents about 88% of the tota

China’s Largest Chemical Producers Launches New Blockchain Warehouse Receipt Platform

Crypto News Point

Oct 17, 2020
2 min

China’s Largest Chemical Producers Launches New Blockchain Warehouse Receipt Platform

A report said that one of China’s largest chemical producers has launched a new Blockchain Warehouse Receipt Platform to help the industry combat the rising costs of operations and trade financing. It has been reported that increased demand for more environmental and safety measures amidst the pandemic has further driven costs up in China’s petrochemical trade. However, small enterprises were already struggling to meet the credit conditions of financial lenders, as a lack of

China’s First Blockchain-Powered Hospital To Launch In 2021, Government Officials Voiced Concerns Ov

Crypto News Point

Oct 7, 2020
2 min

China’s First Blockchain-Powered Hospital To Launch In 2021, Government Officials Voiced Concerns Ov

China’s first blockchain-powered hospital is set to launch in 2021, but some government officials voiced concerns over data security. It has been reported by Cn-Healthcare that the first affiliated hospital of Dalian Medical University will launch a pilot program by January 2021 as blockchain integration is still incomplete. The hospital will use the blockchain to store patient and treatment information. However, the operators also said that such a blockchain-powered platform

China’s BSN Integrates Tezos Blockchain

Crypto News Point

Sep 26, 2020
1 min

China’s BSN Integrates Tezos Blockchain

China’s Blockchain Service Network (BSN) has announced the integration of the Tezos blockchain onto its international portal. On September 24, it has been reported in an announcement that Tezos has been selected as the “one of the first batch of blockchains” to be integrated into the BSN International, a global platform providing access to public chain services on the BSN. However, due to the integration, developers worldwide can now access the Tezos protocol using BSN’s glob

Digital Asset’s DAML To Connect Diverse Blockchains On A National DLT Project In China

Crypto News Point

Sep 15, 2020
2 min

Digital Asset’s DAML To Connect Diverse Blockchains On A National DLT Project In China

Digital Asset’s DAML will connect diverse blockchains on a national DLT project in China, as the Blockchain Services Network (BSN), the largest blockchain infrastructure initiative in China, now has a unified smart contract programming language. It has been reported that Red Date Technology, a major tech company involved in the BSN’s development, will add support for DAML, a smart contract language developed by Digital Asset. On September 14, the companies’ executives said th

Chinese Recruiting Platforms Show Blockchain-Related Salaries Are On The Rise Across China

Crypto News Point

Aug 6, 2020
1 min

Chinese Recruiting Platforms Show Blockchain-Related Salaries Are On The Rise Across China

Chinese recruiting platforms show that blockchain-related salaries are on the rise across China, as this is likely due to the high demand for specialists in the sector. It has been reported by Chainnews that quoting statistics from Zhaopin, “hundreds” of companies in China have been hiring staff for blockchain-related jobs. Monthly salaries start at $2,865 on average. This figure has skyrocketed from an average of $1,230 last year. However, higher salaries are being offered t

Cypherium To Develop Blockchain Infrastructure In China

Crypto News Point

Jul 30, 2020
2 min

Cypherium To Develop Blockchain Infrastructure In China

Enterprise-level blockchain platform Cypherium is going to contribute to the blockchain development of a major Chinese city. Cypherium has signed a Memorandum of Understanding with Suzhou City Municipal to advance the city’s development of blockchain Infrastructure as announced on July 28. We have signed an #MOU with Suzhou City Municipal to advance the city’s development of blockchain Infrastructure. Take a read here [https://t.co/YOzoKqFCMY] and let us know what you think?

Crypto News Point

Jul 29, 2020
2 min

China’s Blockchain-Based Service Network To Integrate 40 Public Blockchains Within A Year

China’s Blockchain-Based Service Network (BSN) will be integrating 30- 40 public blockchains within a year. He Yifan, CEO of Red Date Technology, the private company behind the BSN said that the network aims to integrate some of the most well-known public blockchain networks by June 2021. In the following year, it will further integrate more blockchains in an effort to double that number. Launched in April, BSN is China’s first government-backed blockchain initiative that was

Huawei Files For Blockchain Patent Related To Storage Methods And Devices

Crypto News Point

Jul 28, 2020
1 min

Huawei Files For Blockchain Patent Related To Storage Methods And Devices

Huawei have applied for a new patent related to blockchain technology which deals with storage methods and devices. The Chinese tech giant holds a number of other relevant patents, including topics like Blockchain-based settlement methods. According to the Chinese corporate database, Tianyancha, the smartphone manufacturer filed for a “blockchain ledger storage and device,” patent on January 17, 2019 where the application announcement date was set for July 14: #Huawei Technol

Alibaba Payments Subsidiary Ant Group Launches AntChain Blockchain Solution

Crypto News Point

Jul 24, 2020
1 min

Alibaba Payments Subsidiary Ant Group Launches AntChain Blockchain Solution

The payments subsidiary of Alibaba, Ant Group has launched a new blockchain solution called AntChain. According to a report AntChain is built on top of Ant Group’s blockchain technology that includes artificial intelligence, the Internet of Things (IoT), secure computation, and other technologies. Alibaba payments arm Ant launches new technology brand to help speed up digital transformation of traditional industries https://t.co/FoTWDbHJbH — SCMP News (@SCMPNews) July 23, 20

Supreme Court Of China Believes Cryptocurrency Property Rights Should Be Strengthened

Crypto News Point

Jul 23, 2020
1 min

Supreme Court Of China Believes Cryptocurrency Property Rights Should Be Strengthened

Supreme Court of China believes that cryptocurrency property rights should be strengthened. According to a July 22 document, China’s Supreme Court has called out for strengthening the protection of property rights pertaining among other things “digital currency, network virtual property, and data.” The official court opinion aims to: “promote the improvement of a modern property rights system with clear ownership.” The document also mentions the intention to strike against th

Crypto News Point

Jul 22, 2020
1 min

China’s Blockchain Service Network Splits Into Two Separate Entities Over Disagreement About Public

China’s Blockchain Service Network (BSN) has split into two separate entities after a disagreement about the integration of public blockchains. It has been reported that China’s consortium was founded to promote the advance of blockchain technology in the country. However, it is splitting into two independent entities: BSN-Chain and BSN-International, as BSN-International will be headed by one of the original members of BSN that happens to be a private company Red Date. A sou

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