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China


The Chinese government moving to make blockchain literacy the norm across public offices with the publication of an explainer for officials and members of the Communist Party. Released by the publishing house of the People’s Daily – the party’s news outlet – the book is titled “Blockchain – A Guide for Officials”, according to a …

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Bitmain Technologies, Ltd. is about to go public. According to documents obtained by CoinDesk, the cryptocurrency mining company is filing for an initial public offering (IPO) potentially as high as $18 billion this September at a market capitalization of $40 to $50 billion. It will be listed on the Hong Kong Stock Exchange in Q4 …

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A Chinese cryptocurrency trader who was sent bitcoin in error must repay an exchange even if it broke domestic rules, a Beijing court has ruled. In a judgement made on July 31 and released on Thursday, an intermediate Beijing court upheld a decision made by a district court early this year that a bitcoin trader named …

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Researchers from one of the top universities in China say they have developed a decentralized exchange, not for crypto assets, but for unused power A patent application filed by team from China’s Fudan University in January and revealed on Friday sets out the workings of a blockchain-based electricity exchange that assigns power sellers and buyers as …

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The state-level Chinese government agency responsible for censoring media output in the country may soon have a cryptographer on the payroll – and with expertise in blockchain technology. The research center of the State Administration of Press – which is directly administrated by the State Council – is looking for a cryptographer who “keeps abreast …

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The Agricultural Bank of China (ABC), one of the world’s largest banks by total assets, has completed the issuance of a loan worth $300,000 using a blockchain system. The bank tested the technology for the first time in one of its branches in China’s Guizhou province which issued a loan backed by a piece of …

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A public blockchain project founded by the former head of Alibaba’s blockchain team has raised over $20 million from institutional investors in a combined token and equity sale. Called Ultrain, the startup announced Monday that leading investors in the round included token funds, such as Draper Dragon, FBG Capital, DanHua VC and Arrington XRP Capital, as well …

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A still-evolving vaccine scandal in China prompted a range of social media discussions in the past week around how blockchain could have prevented such a situation – or how it might be used to stop it in the future. To recap, ChangChun Changsheng Bio-technology, a pharmaceutical firm based in Jilin, is accused of having sold about …

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A $1 billion Chinese blockchain fund launched in April has denied a report that local government will pull out its originally planned funding support following a recently leaked recording involving a former partner of the fund. A news report from China Business Journal on Thursday said the Hangzhou city government has required Xiong’An (or Grandshores) Blockchain …

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A consortium of state-owned development banks plan to research blockchain technology for international transactions and other products, Russia-based Vnesheconombank said Thursday. Vnesheconombank, the Brazilian Development Bank, the Export-Import Bank of India, the China Development Bank and the Development Bank of Southern Africa signed an agreement to conduct research on how they can use blockchain research …

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On the back of China’s most recent pharmaceutical scandal, stock investors are buying into a public company’s claim to be developing a blockchain for tracking vaccines – but not everyone is happy about it. As reported by CoinDesk earlier this week, following a vaccine data scandal exposed last weekend, the Chinese crypto community weighed in …

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Another Chinese city is launching a fund worth over $1 billion in order to support the development of blockchain-focused enterprises. The district government of the Jiangbei new area in Nanjing city announced the plan to launch the 10 billion yuan (around $1.4 billion) blockchain fund last Friday. The project will be funded through a public-private …

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A scandal around the fraudulent actions of a vaccine manufacturer in China has sparking a heated debate over the last week – and now the Chinese cryptocurrency community is suggesting blockchain as a potential solution. The uproar followed a report from China’s State Drug Administration, which, based on a tip-off, launched an investigation of the company …

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China’s Xinjiang Uyghur autonomous region is set to eliminate “illegal” bitcoin mining operations by the end of August, a government agency has confirmed to CoinDesk. Rumors first emerged online over the weekend after the leak of a government notice issued by Xinjiang’s Economic and Information Commission (EIC) indicating the authority was demanding that local utility companies …

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The chives growing in one crypto tycoon’s California mansion carry a hidden message. Guo Hongcai, a beef salesman turned early bitcoin adopter from China’s Shanxi province, is one of many freshly minted millionaires funneling parts of their wealth out of the country by purchasing real estate abroad. In April, Hongcai sold 500 bitcoin in the …

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A state-backed financial asset exchange in China’s Chongqing city is turning to blockchain to make online auctions tamper-proof and transparent. According to a patent application filed in December and revealed on Friday by the China State Intellectual Property Office, the Chongqing Financial Asset Exchange (CQFAE) is exploring how to create a system that allows multiple parties …

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A startup looking to build a credit scoring protocol on top of the recently-launched Ontology blockchain has raised $8 million in seed funding. POINTS, founded in 2017, said it drew funding from a mix of traditional venture capitalists including Danhua Capital and Ceyuan Ventures, a backer of OKCoin. Other participants in the seed round include …

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Leshi Internet, a Chinese video streaming website with a history of financial troubles, is being questioned by the Shenzhen Stock Exchange over its subsidiary’s move into the crypto space. Lerong Zhixin, a smart TV maker owned by Shenzhen-listed Leishi, announced a plan on Wednesday to partner with a blockchain startup to launch a video streaming console …

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Richemont, the Swiss luxury goods giant that owns Cartier, is turning to blockchain in a move aimed to bring transparency to its supply chain. Jin Keyu, a renowned economist and an associate professor at the London School of Economics (LSE) who was appointed by Richemont as a board member last year, said during a speech …

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Shanghai Stock Exchange (SSE), one of the world’s largest securities trading venues by market capitalization, is eyeing the use of distributed ledger technology (DLT) in the securities market. The SSE published a research paper on Tuesday, which analyzed the use of DLT in various stages of a security transaction, such as the pre-trading customer registration, …

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