Dec 18, 2019 at 10:33
Will China Dominate the United States in the Blockchain Space?
China is by far a clear blockchain and distributed ledger technology (DLT) front-runner at this moment in time and the United States is in a critical condition of losing out completely if it doesn’t check itself and begin the venture in a massive manner.
Chinese Internet Author Uses Blockchain for IP Rights Protection
One superb Chinese online author identified as Chen Hongyan aka Lingchen has developed a practice in her innovative method of frequently uploading and storing her literary works onto a tamper-proof blockchain-powered store. When she uploads a piece of work, she by design gets a series of data as the digital ID for the work.
Forbes Faces It Hot as Chinese Media Rubbishes its Cryptocurrency Report
It is indeed an obstinate time for Forbes as news media in China calls its recently issued report on the Chinese government digital currency “baseless guesses.” A report that was published by Forbes’ cryptocurrency editor known as Michael del Castillo on Tue Aug 27, 05:13pm showing that Paul Schulte, ex global head of financial strategy at China Construction Bank, has identified 7 giant companies to have access to the Chinese state-owned virtual asset called Digital Currency/Electronic Payments (DC/EP).
China is Ready to Launch a Central Bank Cryptocurrency
The world’s most populous country, China, is now more than willing to launch its new state-backed cryptocurrency, according to an official statement from the People’s Bank of China (PBOC). With its population of over 1.4 billion people, if every Chinese decides to use this new stablecoin and may be one more token, the market for cryptocurrencies will see a major boost.
US-China Trade War Leads Bitcoin Price to Trade Over $12,000
The world’s top cryptocurrency by market capitalization, Bitcoin (BTC), has once more managed to hit and exceed the $12,000 price level after around 3 to 4 weeks trading below that mark. The surge comes after a huge devaluation of China’s fiat currency yuan which touched the bottom level against the United States dollar (USD) since exactly nine years ago. The event is one part of the US-China trade war.
Libra is Getting Popular in China Despite Criticism in USA
The latest research shows that Libra, the cryptocurrency owned by Facebook, is now ranked the third most searched keyword on Weibo, a Chinese search engine. Libra follows words like “Chinese Movie Star” and Mona Lisa correspondingly. This is an indicator that people living in the country have started to gain appetite for digital currency including Libra, Bitcoin and others.
Chinese Police Have Confiscated Illegal Mining Devices
Police detectives in the Chinese City of Zhenjiang recently confiscated about 4,000 bitcoin mining computers. According to the police, the miners illegally connected their mining machine to the Electricity grid. Further report indicates that electricity worth more than $3m was illegally used for mining.