Category: China

Real-world tests of the digital yuan show how it could disrupt China’s mobile payment giants

Real-world tests of the digital yuan show how it could disrupt China’s mobile payment giants

Quick Take Merchants who supported digital yuan for real-world testing said they didn’t have to pay any transaction fees, unlike when they use third-party payment providers. The government has sent mixed signals about whether the central bank digital currency will compete with Alipay and WeChat Pay. This feature story is available to subscribers of The […]

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The city of Shenzhen is planning yet another $3 million digital currency test

The city of Shenzhen is planning yet another $3 million digital currency test

The Chinese city of Shenzhen is seeking to boost awareness and use of digital currency by giving 20 million yuan (over $3 million) away to its citizens, according to the Chinese news publication Xinhuanet. Shenzhen residents can receive 200 yuan worth of digital currency in “red envelopes” through a lottery, mirroring past trial runs. This initiative […]

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Shenzhen’s latest $3m digital yuan test sees nearly 140k transactions

Shenzhen’s latest $3m digital yuan test sees nearly 140k transactions

Residents in Shenzhen have proceeded nearly 140,000 transactions in digital yuan during a 10-day city-wide test of China’s central bank digital currency, known as DC/EP. The city of Shenzhen conducted a second run of the digital yuan test starting from January 7 by giving away $3 million worth-of digital yuan to 100,000 local citizens via […]

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China’s Blockchain Attempt BSN to Reportedly Integrate CBDCs This Year

China is preparing a consequent major take on blockchain adoption. The country is developing a new project aimed at integrating international central bank digital currencies (CBDC) as a part of their recent blockchain endeavor, the BSN. Building a Universal Digital Payment Network as part of 2021 Outlook The country’s national blockchain project, Blockchain Service Network […]

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Crypto Mining Hardware Manufacturer Whatsminer Plans to Launch Public Offering in the US

Crypto Mining Hardware Manufacturer Whatsminer Plans to Launch Public Offering in the US

One of the world’s biggest bitcoin mining machine manufacturers is preparing to go public in the United States. China-based Whatsminer is reportedly looking to obtain additional funds to buy Samsung chips with the initial public offering (IPO). Whatsminer’s Revenue Could Hit $1 to $2 Billion in 2021 According to Chinese media outlets and Asian journalist […]

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Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines

Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines

A U.S. listed Chinese sports lottery firm announced that it has entered into a purchase agreement to acquire bitcoin (BTC) mining machines. The deal involves the issuing of $14.4 million worth of 500.com Class A ordinary shares. Models Include S17, T17, M20s and S9 According to the announcement, 500.com Ltd reached an initial agreement to […]

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Bull Run Boosts Hashrate Token Craze, Binance Hashcoin [BTCST] And Poolin Tokens Selling at Inflated Rates

The mining gold rush has also led to the creation of mining hashpower pegged hashrate tokens launched by Binance and mining farm operator Poolin. Bitcoin’s race to $42,000 record price has led to a mining gold rush to profit the most as a result the mining difficulty on the network has also soared to an […]

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State-Backed Agricultural Bank of China Launches the First Digital Yuan ATMs

State-Backed Agricultural Bank of China Launches the First Digital Yuan ATMs

The Agricultural Bank of China (ABC), one of China’s “big four” banks, is embarking on a pilot program to enable the first digital yuan ATMs. The banking institution deployed the first machines in selected branches in Shenzhen. ATMs Will Work With a Smartphone App According to SZ News, the program is part of the ongoing […]

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