Home Blockchain News

Blockchain News

Status of Blockchain in China

The Blockchain China relationship has an intriguing past and an exciting future. Speculation on cryptocurrencies are banned, yet China has wholly endorsed the technology than underpins Bitcoin-blockchain.

2017 saw a huge shift in the relationship between Bitcoin in China. At the start of the year the interaction between the 2 were very tight. China was the biggest Bitcoin market in the world and was home to the largest Bitcoin mines and cryptocurrency exchanges like Binance.

However, towards the end of 2017, the Chinese government criminalized Bitcoin and cryptocurrency activities such as mining and exchanges. Bitcoin miners were forced to close shop while most exchanges like Binance relocated to safer jurisdictions. This removed China from being the largest to the smallest, almost insignificant, cryptocurrency market. Despite this, people are still interested in Bitcoin and the profits it can bring, so speculation continued underground.

In 2019 however, cryptocurrency and especially blockchain made a huge comeback. It was announced that the People’s Bank of China will issue DCEP (Digital Currency Electronic Payment), set to be the national digital currency of China. Unlike Bitcoin, DCEP is fully sanctioned by the Chinese government, and all Chinese merchants accepting digital payments must accept DCEP.

Further, China’s President Xi Jinping appealed for urgent development of blockchain before the Communist Party of China Central Committee. This lead to China-wide efforts at all levels to promote blockchain development. For example, state newspapers immediately published articles educating and praising blockchain technology and keywords like “Blockchain is a scam” was immediately censored by local social media. In a welcome turn, the cryptocurrency mining ban in China was also reversed.

China provinces blockchain

China’s Provinces Increase Blockchain Usage and Partnerships

Chinese provinces are increasing blockchain partnerships and usage development co-operations. This is because provincial administrative regions issued a remarkable 106 pieces of...
beijing crypto

Beijing’s Online Financial Watchdog Warns Again the Risks of ICOs

In recent days, regulation targeting cryptocurrency activities has been in a mode of constant barrage. In the wake of numerous authorities, including the banking...
Shenzhen blockchain

Blockchain China: Shenzhen, Longgang district is Increasing Blockchain usage

Longgang district in Shenzhen, China has set the standard for blockchain, with the area issuing 746,000 blockchain electronic invoices since July of...
mcafee header

Cryptocurrency guru, John McAfee, opens his own Weibo account; Announces new blockchain website

Earlier today, John McAfee tweeted that he had joined Weibo, a Chinese microblogging site similar to Twitter and Instagram. In the post, he thanked...
blockchain investment shanghai

Chinese Government Supports Blockchain Investment Hub in Shanghai

Undoubtedly, the blockchain industry is the most popular revolutionary technology the world has witnessed in 2018. However, the technology has recently entered the cold...
enjin wallet partners samsung blockchain phone

Samsung Partnered with Enjin (ENJ) for Blockchain Wallet on Galaxy S10?

BREAKING: Enjin scores the biggest partnership in crypto history: Enjin wallet will be installed on Samsung phones and will be used for...
Blockchain

Asia’s Richest Man, Ambani, Plans World’s Biggest Blockchain network

You haven't seen the biggest blockchain network yet, according to the richest man in Asia, Mukesh Ambani who plans to make this...
ScreenShot  at..PM

Alibaba Cloud’s Blockchain Ambition Shows as it Actively Seeks Top Spot in Cloud Computing

Blockchain has opened up a new battleground in the fiercely contested world of cloud computing. From the early days of the IBM and Microsoft...
binance CEO

The Future of Blockchain According to Binance CEO

Changpeng Zhao is a pragmatic and mysterious billionaire. He is Binance CEO and also the founder of Binance, which has become the world's largest Crypto currency trading platform, up...

Media Companies Using Blockchain To Stop Fake News

Media companies are using blockchain technology in order to combat fake news and make their workforce more efficient it has been revealed. 
26,817FansLike
20,227FollowersFollow
10,000SubscribersSubscribe