Shanghai Man: China retains mining control? Alipay's ancient NFTs and Amber’s...
A look at miners shifting hardware overseas, Amber raises $100m, and Bitmain temporarily shuts down sales among dropping hashrate sales. This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. So low you've got to reach up to touch the bottomThis week in China felt like one giant mining-farm sized pile of FUD. This is usually a pretty good indication that a bottom is close to being in, but one can never be too....
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Leading Chinese banks are promoting the digital yuan over Alipay and WeChat Pay for an upcoming shopping festival in China. Some of China’s largest state banks are actively promoting the digital yuan as a superior means of payment to the country’s two leading payment providers, Alipay and WeChat Pay.In an April 26 report, Reuters revealed that six of China’s largest banks are promoting China’s nascent central bank-issued digital currency, or CBDC, in Shanghai ahead of an online shopping festival on May 5.The banks are urging retail outlets and consumers to download the digital wallet and....
Dragon's Tale allows players to stick paintings on the Great Wall of China and make money at the same time. The Great Wall of China is one of the seven wonders of the world. The ancient wall (portions of it) dates back to 7th century BC. The wall was completed by the first emperor of China, Qin Shi Huang in 206 BC. Portions of the wall have been rebuilt from time to time by various rulers since then. The Great Wall of China acts as a border control and a line of defense against external threats. Since the end of dynasties and warriors, the ancient Great wall of China continues to stand....
The People’s Bank of China integrated a new set of regulation which requires real-name registration for all payment accounts that are not related to a bank directly. Chinese capital controls have an impact on the local economy, but also on any payment service provider dealing with the yuan. Alipay, which is the country’s largest payment processor, cannot continue their overseas expansion die to even tighter capital control rules. Alipay Will Not Expand Internationally for Now. China’s largest third-party payments system had high hopes for their international expansion over the next few....
Alipay, the $60 bln financial application developed by Alibaba subsidiary Ant Financial, is planning to implement Blockchain technology for the long-term benefit of its consumers. With over 450 mln users in China alone, Alipay is easily the most popular and largest mobile payment application in the world. The market cap of Alipay is larger than that of PayPal, a global financial network which processes blns of transactions every year. Blockchain going global with Alipay. In the past few years, Alipay has become the substitute for inefficient banking systems and financial services. As....
Shanghai residents are using the blockchain to record and preserve memories of their city’s month-long COVID-19 lockdown, minting movies, images, and artwork as non-fungible Tokens (NTFs) that may be shared and recalled. Shanghai Residents Adopt NFTs To Store Memories Residents of Shanghai, China’s largest city with a population of more than 25 million people, are […]