A Chinese Online-Only Bank Will Present at the Global Blockchain Summit
WeBank, launched last year by China’s internet giant Tencent whose instant messaging service Wechat and QQ is used by around 650 million people, is to present at Shanghai’s Global Blockchain Summit on the 23rd of September. As China’s first online-only bank, WeBank has extended $4.5 billion in loans, but faces stiff competition from Ant Financial’s internet bank – MYbank – as Alibaba and Tencent engage in an epic battle for domination of China’s online payments market which controls more than half of all payments in China. They both are known to have joined blockchain consortiums, but it....
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Yesterday was day one of China’s first-ever Global Bitcoin Summit in Beijing. The summit comes during a rough patch for Bitcoin in China as eleven of the country’s major banks have ceased dealing with customers using the digital currency. Despite even more setbacks at the last minute, the summit is so far a success. The latest blowback for the summit came on May 7, when the China Digital Times published new censorship instructions published by Chinese government authorities. One of the instructions reads as such, “(5) The Global Bitcoin Summit 2014 will be held on May 10-11 in Beijing. All....
Chinese Government has announced the creation of a Blockchain Working Group to develop and implement distributed ledger technology in the country. The Chinese government, in an attempt to keep up with the rapidly changing tech scenario, has announced the creation of a Blockchain Working Group. Through this working group, the Dragon state intends to forge strategic alliances with digital currency technology related businesses to accelerate the development and implementation of blockchain technology. The creation of Chinese Blockchain Working Group coincides with the preparation for upcoming....