China to Lead the Way for Blockchain Usage
Industry experts have said that China is set to lead the way with the use of blockchain as it reinforces the development of digital intelligent services, reports the South China Morning Post. According to the report, this development is running alongside plans by the country’s telecommunications industry as it works at rolling out 5G mobile services by 2020. Vijay Mayadas, the vice-president of corporate strategy and head of blockchain strategy at Broadridge Financial Solutions, said to the South China Morning Post, that: When 5G, the Internet of Things and autonomous driving start to get....
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Wanxiang Blockchain Lab will lead the development and research of blockchain technology. The China Ledger Alliance will focus on creating new blockchain-based applications. Blockchain technology is being used for quite a few different things around the world today. China, while best-known for their Bitcoin trading volatility, is looking at the technology as well. To be more precise, the Chinese government wants to use the blockchain for social security. An interesting train of thought, and another validation for distributed technology. Governments around the world have come to the....
US President Donald Trump warned this week that China is moving fast into the bitcoin and crypto area, and he urged the US to hold its lead in the market. Related Reading: Crypto Exchanges Brace For EU Power Shift Toward Central Regulation He made the remarks in a televised interview, saying China “is getting into […]
An increasing number of multi-billion dollar companies, banks, financial institutions and organizations have begun to utilize Blockchain technology to authenticate data. By doing so, new and unique implementations of Blockchain technology were introduced, including the Commonwealth Bank’s Blockchain-based shipment of cotton and Walmart’s usage of Blockchain to track the distribution of food. Walmart and China pork scandal. Retail giants like Walmart conducted trials using Blockchain technology to store shipment data and distribution information into an immutable Blockchain network. In late....
Analysts from major research and development firms, including EY and DBS, expect China to lead the global fintech and Blockchain industries. Various consortiums and organizations have already been formed to support the development and growth of Blockchain and fintech startups. Earlier this month, Cointelegraph reported the intensity of the Chinese fintech industry’s growth over the past few years. Hundreds of mlns of consumers have abandoned traditional banking systems for better and more efficient alternatives. Several Chinese fintech companies, including Alibaba’s Ant Financial, amassed....
Bitcoin Priced in USD on Mt. Gox. Above is Gox price as of ~9:30 PM (GMT+2). Still above the previous low, but dipping below the 38.2% retracement level. Note the low volume. What's leading us down? I suspect the trading fees implemented on BTC China, as documented elsewhere on this site. 0.3% fees are still cut-rate by Western standards, but the Chinese may have taken it as a negative sign. I believe that free services are common to China's highly competitive, winner-take-all economy. Bitcoin Priced in CNY on BTC China. And here's Bitcoin price in China; note that volume remains high and....