Brazil Central Bank President, Roberto de Oliveira Campos Neto, announced that plans to have a digital currency by 2022. In an interview with Bloomberg Markets’ Editor, Erik Schatzker, Neto said that Brazil’s central bank digital currency or CBDC will modernize the country’s banking system. According to Neto, Brazil’s central bank leadership in 2019 led to...Read More
Canaan Inc, a leading Chinese Bitcoin mining hardware manufacturer published its unaudited second quarter (2020) financial results. As per the report, the company’s gross profit increased year over year and quarter over quarter, but Canaan still suffered a net loss. However, the firm’s gross margin expanded significantly last year as well as in the first...Read More
Daemon Technologies, a firm based in Hong Kong, will now drive the adoption of Stacks technology to support cryptocurrency mining communities in Asia according to its launch tweet. Excited to announce my next chapter in the @blockstack and #stacks ecosystem! https://t.co/JRdZPeDwhi — Xan Ditkoff (@XanDitkoff) August 31, 2020 The firm stated that Asian mining communities were...Read More
Money attracts money, and Barry Silbert, CEO of Digital Currency Group, knows it. His company has already established itself as one of the most influential corporations in the entire crypto ecosystem. Today, it announced a new venture that will expand its reach into a whole new frontier: the crypto mining industry. In a recently issued...Read More
China is in the news a lot. Whether it be Bitcoin, a trade war, or a pandemic, a closer look usually reveals that much more is happening under the hood, especially when it comes to all things crypto-related. In addition to altcoin trading or trading in general, stablecoin transactions are also highly concentrated in China....Read More
Despite numerous reports claiming that the Chinese central bank is experimenting with large volume transactions for its CBDC, the bank recently said that it’s focusing on small retail transactions but confirmed that the trials are ongoing in numerous regions. China’s CBDC Trialed For Smaller Transactions In the past few weeks, various reports claimed that the...Read More
A new report indicated that East Asia remains the most active cryptocurrency market with the most significant number of daily transactions. At the same time, professional traders still account for most of the trading volume, while stablecoins, and especially Tether (USDT), have gained a massive market share. East Asia Dominates Crypto Trading Market According to...Read More
Bitcoin mining as an industry has evolved over the years as BTC’s price has. From being able to mine BTC using CPUs to GPUs, FPGAs, and ASICs, the industry has matured with the current hashrate at 124 TH/s with difficulty at 16.8 T [trillion]. Before the 3rd halving, the price suffered a catastrophic crash in...Read More
Months after launching operations in China, the country’s Blockchain-based Service Network (BSN) saw the release of an official international website, aiming to attract global DLT developers as well. China’s BSN Goes International The Blockchain-based Service Network went live a few months back after a delay prompted by the COVID-19 pandemic. As CryptoPotato reported back then,...Read More
China’s blockchain growth in terms of newly added firms in 2020 has surpassed the total figure seen in 2017. With support from the government, startups dedicated to developing decentralized ledger technology (DLT) are increasing in number with the country looking to dominate the emerging digital landscape. Current 2020 Figures Topple 2017’s Total In a tweet...Read More
The Chinese central bank digital currency (CBDC) could be approaching its long-anticipated launch as new reports indicated that multiple local commercial banks have begun conducting trials of a digital wallet application linked to the CBDC. Chinese Banks Test Digital Wallet App For CBDC In the latest turn of events regarding China’s future digital currency, a...Read More
This week was nothing short of exciting in the cryptocurrency markets. Bitcoin definitely woke up from its slumber and made a few aggressive moves upwards. Altcoins felt the pain as most of them decreased in value as the king of crypto took its toll. In seven short days, Bitcoin went from around $9,600 to $11,400,...Read More
China has no reservation against ‘Bitcoin activities as virtual commodities,’ the Beijing Arbitration Commission (BAC) said in a report today. The report also added that the country’s laws and regulations ‘do not prohibit’ private possession and legal circulation of BTC. Bitcoin Is Not A Currency, But A ‘Virtual Commodity’ Today local non-profit arbitration organization, the...Read More
After perpetuating one of the largest fraudulent projects in the crypto industry, the core team behind the popular PlusToken crypto scam has finally been arrested by the Chinese police, a Thursday report revealed. 27 PlusToken Key Members Arrested Although earlier reports suggest that some of the PlusToken officials were caught months ago, today’s report notes...Read More
Often referred to as the ‘Chinese Ethereum,’ NEO has teamed up with the state-backed BSN to drive mainstream adoption. NEO will become one of the technological pillars of the BSN, which includes tech and payment giants such as China UnionPay and China Mobile, in addition to the Chinese State Information Center, the official announcement stated....Read More
The CBDC race is about to heat up again with nations across Asia leading the way in crypto research. Japan is the latest to accelerate progress, joining China and Thailand, which are already well underway with their respective digital currencies. Japan Forms Crypto Research Team The Bank of Japan (BoJ) stated on Monday that it...Read More
Bloomberg reports that the People’s Bank of China (PBC) intends to begin testing its central bank digital currency (CBDC) on several platforms operated by the food delivery giant backed by Tencent Holdings – Meituan Dianping. China’s CBDC On A Food Delivery Platform Citing people familiar with the matter, Bloomberg informs that the large Chinese web-based...Read More
Chainlink continues with its impressive price performance after reaching a new all-time high today. Interestingly, the latest surge coincided with the launch of China’s Blockchain Service Network, which integrated Chainlink’s price oracles into its ecosystem. China’s BSN Launches As CryptoPotato reported in March this year, the world’s most populated country planned to introduce a DLT-based...Read More
A number of Chinese courts have reportedly used a designated blockchain-based technology to secure and monitor sealed properties. The so-called electronic door seals are now up for a trial in some of the country’s legal institutions, allowing surveillance, based on the novel technology. Electronic Seals To Keep Properties Safe A recent report announced that the...Read More
Blockchain utilization is continuously rising in various countries across the world, a recent report revealed. It outlined that US-based companies have been awarded the most substantial number of patents for blockchain endeavors, but the Chinese multinational giant Alibaba is the single entity to receive the most. Blockchain Patents Across The Map The report from the...Read More
If you thought that the city of Wuhan was done for 2020, well, think again. Reports have it that at least some of 83 tons of gold bars, used as collateral for loans, turned out to be gilded copper. For more than five years, Wuhan Kingold Jewelry has been getting gold-collateralized loans worth over 20...Read More
More companies are utilizing blockchain, reveals a recent study compiled by the multinational professional service network Deloitte. Interestingly, the Asia-Pacific region appears to be leading on the matter with the most use cases employing the distributed ledger technology (DLT). Blockchain Matures Deloitte surveyed nearly 1,500 senior executives and practitioners from large companies from 14 countries,...Read More
President Donald Trump has urged Treasury Secretary Steven Mnuchin to “go after Bitcoin” as early as mid-2018 amid the ongoing trade war with China, according to an unpublished book written by his former national security advisor John Bolton. Trump Against Bitcoin President Trump has not been supportive of any cryptocurrency as he pointed out himself...Read More
Despite the lacking demand as of yet, the Bank of Korea (BOK) has set up a legal advisory group to review any legal issues before possibly launching a central bank digital currency (CBDC) in the future. BOK To Review Legal Matters Around CBDC According to a local report from today, South Korea’s central bank has...Read More
A recent study published by Amun researcher, Eliézer Ndinga, shows that USD-pegged stablecoins are being leveraged in Hong Kong as “vehicles for capital control flight.” The report shows how individuals from mainland China, Singapore, and Hong Kong are moving their capital out of control by using these dollar-pegged blockchain tokens. Last week on June 9,...Read More
China will always remain a controversial country when it comes to handling cryptocurrencies. This is primarily due to all of the illicit activities taking place within its borders. In a new crackdown against illegal crypto money streams, the Chinese government has taken a different approach. China Targets Crypto Bank Accounts Rather than collecting data for...Read More
The Bitcoin hash rate appears to be migrating west after the percentage of BTC mining taking place in the United States increased by 78%, leading into 2020. That’s according to the latest data from the Cambridge Center for Alternative Finance (CCAF), presented in a report by TokenInsight, which shows the US-based Bitcoin hash rate rose...Read More
China-based bitcoin miners have started to migrate southbound from North China, according to local reports. The operators are having difficulties and are transitioning mining facilities for cheap hydro-powered electricity. Testimonials also show that 64 mining operations in the prefecture in Yunnan have been threatened by local authorities. Sources say a hydropower station discharge sparked a...Read More
Recent Chinese reports informed of hidden Bitcoin mining rigs stealing electricity in the northern city of Daqing. Interestingly, the perpetrators were concealing their operation under two mysterious grave mounds in a relatively empty field. BTC Mining Operations In Hiding According to the recent report, a Chinese oil field company sent a tip to local police...Read More
People in China can now inherit the digital assets of their parents after them. This came out in the new legislative assembly meeting. China recently passed a long-awaited Inheritance law that covers Digital assets too. But what led to this inclusion, what events occurred which emphasizes the need for inclusion of digital assets! Let us...Read More
