China Blockchain Alliance Executives: Virtual Currency the ‘Largest Ponzi Sch...
The chairman of China’s Blockchain Service Network (BSN) Development Alliance Shan Zhiguang, and his colleague, insisted in a recently published op-ed that virtual currency is “undoubtedly the largest Ponzi scheme in human history.” However, they have said the “value of blockchain technology should not be ignored because of virtual currency.” Opinion Piece Claims 90% of 100 Richest People Have Bad-Mouthed Virtual Currency The chairman of the Chinese Blockchain Service Network (BSN) Development Alliance, Shan Zhiguang, and executive director He....
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China has decided to start its own distributed ledger alliance, calling it ChinaLedger, the resulting blockchain platform will be used by the Chinese fintech sector. The giant has finally woken up; China has entered the blockchain race. Apart from the banking consortium and the Hyperledger project that have respectively brought the banking sector and tech companies together, we now have one more blockchain alliance, originating from China. China is already playing an important role in the global economy, bitcoin mining, and even the global power balance. Now, with the blockchain alliance,....
During the course of the week, the cryptocurrency community has been focused on China and the country’s Financial Stability Board detailing that it aims to crack down on the bitcoin mining sector. Following the statements from Chinese officials and a few crypto businesses abandoning services in the region, executives from some of China’s largest bitcoin mining companies have openly discussed the situation. Btc.top’s CEO: ‘If China Takes Regulatory Actions Against Crypto Mining, Then Major Chinese Manufacturers Will Sell Abroad The million-dollar question right now....
China’s Securities Regulatory Commission (CSRC) will promote a national alliance chain to introduce smart contracts and blockchain-based services to digitize the securities and futures market. The announcement was made at the China Securities Industry Alliance Chain and OTC Alliance Chain Special Work Symposium in Beijing. Jiang Dongxing, deputy director of the Science and Technology Regulatory Bureau of the CSRC, stated this digitization is key for the future of the industry.
China Aims to Digitize Financial Markets Using Blockchain
The China Securities Regulatory....
According to authorities in China, a peer-to-peer lending company Ezubao defrauded investors of more than $7.6 billion, using the funds on gifts and salaries. The executives at the company are accused of destroying evidence in a business now determined to be a Ponzi scheme. The charges come as China’s stock market faces steep declines. Authorities there have said in recent years increasing numbers of fraud and bankruptcy has placed doubt over China’s online financial industry. Ezubao, according to authorities, offered clients fraudulent investment products. Over one million investors put....
The Bitcoin Alliance of Canada has made a filing with the Canadian Intellectual Property Office opposing an attempt to trademark the word "Bitcoin" in the country. The trademark attempt, filed by Neil K Adams on Dec 17, attempts to trademark the use of the term "Bitcoin" under, among other things, the categories of "computer programs and computer software for electronically trading traditional currency and virtual currency", "currency exchange services", "cash management" and "financial services, namely, providing secure payment options to members of an online community via a global....