In China, Two Cities Mirror Blockchain-Bitcoin Divide
Beijing and Shanghai, China's two most populous and developed cities, are often reminiscent of two siblings. They are similar, but each has its own distinct character. In this light, some rivalry is as inevitable, and it's now spilling over into the country's blockchain industry. In Beijing, visitors are likely to meet "bitcoin maximalists", those who shrug at the idea an alternative blockchain or bank consortium could challenge the network effect of a $10bn digital economy. In Shanghai, the difference of attitude is pronounced – there, you are more likely to be told that bitcoin....
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China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users.
PBOC Adds More Cities to Test Its CBDC
The Chinese central bank, the People’s Bank of China (PBOC), said Saturday that it is adding more pilot cities to test its central bank digital currency (CBDC), the digital yuan (e-CNY).
The new pilot cities are Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and six cities in the Zhejiang province that will host the 2022....
One of the four cities that will be the “hotbeds” of the blockchain financial services is Hong Kong as the technology is expected to be implemented by banks and other financial institutions within three years. That’s according to the director business development and strategy, Cloud + Enterprise at the U.S. tech giant, Microsoft, Marley Gray. The other cities are London, New York, and Singapore. A report by South China Morning Post quotes Gray as saying that these cities “are the anchor points in which blockchain will be solved, and it will just grow from there.” Blockchain is New in Hong....
With an eye to the future, China’s government is working with Factom, a blockchain based record verification and auditing infrastructure company along with consulting firm iSoftStone to plan blockchain based administration projects for smart cities. The plan will include strategies for storage, auditing and verification services. Named after the Factom brand, Factoids, a token value, are issues and transferred among users who purchase entry credits and record entries. Factom servers will create entry blocks and directory blocks. The hashing of directory blocks is secured onto the....
The Mirror Protocol now accepts any contributor as long as they have an Ethereum address and wallet. Ethereum-based decentralized blogging platform Mirror has opened its doors to the wider public after months of running vote-based contributions only.Mirror was launched in December 2020 to enable selected writers to publish on the decentralized blogging platform. Contributors could gain access by getting voted for in weekly competitions using the platform’s native token WRITE, with just ten content creators selected per week.In an announcement on Oct. 6, Mirror stated that it has now done....
Factom is a blockchain-based platform looking to wield the power of distributed ledger technology for purposes other than financial services. Their bread and butter revolves around record verification and auditing existing infrastructure. In the end, more transparent solutions are created, which will also cut down on overhead costs. Their recent partnership with iSoftStone will see the introduction of the blockchain verification for Chinese smart cities. The concept of creating smart cities has been a hot topic for many years now, as it proposes a mix of new technology and innovation with....