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Our Man in Shanghai: Filecoin the talk of the town, Polkadot and NFTs gain attention

Retail investors are flocking to buy Filecoin on exchanges with predominately Chinese user bases and the head of the PBOC thinks the digital yuan has an uphill battle to take on Alipay and WeChat Pay. Distributed storage network project Filecoin is the talk of the town as FIL was the most highly traded token on Huobi, OKEx and Gate on Thursday. These three exchanges have a predominantly Chinese user base and represent a large part of the Tier One trading volume for major pairs. On Thursday afternoon, Huobi trading volumes of FIL were more than three times that of BTC…

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People’s Bank of China: issuing CBDC is a new global ‘battlefield’

An article published in China Finance, a magazine run by the People’s Bank of China (PBOC), stated that China had to become the first nation to issue its digital yuan to “reduce its dependence on the US dollar”, according to a report published today. China Finance also sees issuing a digital currency as a “new battlefield” between nations. The central bank magazine said: China has many advantages and opportunities in issuing fiat digital currencies, so it should accelerate the pace to seize the first track. Stating that China’s digital currency electric payment or DCEP, would “weaken” the dollar’s role in…

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Canaan Cuts Losses for Second Successive Quarter, Down To $2.4M in Q2; Demand Remains Weak

Canaan Creative, the Chinese maker of bitcoin mining hardware, reported a net loss of $2.4 million during the second quarter of 2020, down from $5.6 million in the previous quarter. It is the second consecutive quarter of narrowing losses for the firm, hit hard by falling demand amid the Covid-19-induced global recession. For the three months to June 30, revenue soared 160% to $25.2 million from $9.6 million the quarter before, driven by a near 200% increase in total computing power sold. According to Canaan’s earnings release of August 31, the Beijing-based company sold 2.6 million terahash per second (TH/s)…

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Huawei Cloud Is Co-Creating Blockchain Governance Platform With Beijing

Huawei Cloud will work together with the Beijing Municipal government to create a blockchain governance platform to improve the city infrastructure as we are reading in the blockchain latest news today. The data-sharing platform promises to improve the response Beijing has to the current Coronavirus outbreaks. Citizens will be able to use the technology to appeal to the city rulings and address problems in their daily lives efficiently. Huawei Cloud partnered with the Beijing government to create the new blockchain-powered public directory according to the latest reports by Jintai News. The Chinese tech giant caused controversies in the West and…

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Beijing Taps Blockchain Technology for Stock Trading and Custody

The Beijing Municipal Government has announced a new blockchain pilot for stock registration and custody. The distributed ledger technology (DLT) system will be used by the Beijing Equity Exchange Center which is under the purview of the China Securities Regulatory Commission, according to a press release on July 21, 2020. DLT for Stocks and Equities Read MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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