Major tech and commerce firms have been instrumental in helping China’s central bank develop the digital yuan. Major Chinese technology and commerce firms are starting to open up regarding their involvement in developing the digital yuan. Ant Group and Tencent Holdings revealed the extent of their collaboration with the People’s Bank of China in developing…
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Alibaba’s Alipay and Tencent’s WeChat Pay reportedly account for 98% of the mobile payment market in China. China’s central bank digital currency, or CBDC, will provide backup for major retail payment services like AliPay and WeChat Pay as its key objective, according to an official at the People’s Bank of China. Mu Changchun, head of…
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Ant Group remains the world’s biggest blockchain patentee, while IBM is considered to be the most cited developer of patents in the industry. Chinese holding conglomerate Ping An Group filed the largest number of blockchain-related patents in 2020, according to a new report. Intellectual property-focused magazine Intellectual Asset Management has released a report on the…
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The notion of China racing to launch a CBDC that will end U.S. monetary supremacy doesn’t hold up if you look at the facts on the ground. For the past several years, the trade war between China and the U.S. has been at the center of international relations, with technology playing an outsized role. Within…
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Exploring where national security meets securities offerings in this week’s crypto news. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note A wise man once said, “there’s security and there’re securities,” and if he didn’t, he should’ve. In modern English, it seems a…
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China’s market regulator finalizes rules that have been three months in the making. China has finalized new guidelines to aid in antitrust battle against tech giants. On Feb. 7, the State Administration for Market Regulation released finalized rules for its anti-monopoly push against e-commerce and payments giants like Alibaba, Ant Group and Tencent. The guidance specifically…
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A representative for the Jack Ma Foundation confirmed to reporters that the businessman had “participated in the online ceremony of the annual Rural Teacher initiative event on January 20.” Jack Ma, the founder of Chinese e-commerce group Alibaba, has made his first public appearance since October, bringing almost three months of intense speculation about his possible whereabouts…
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The trade war with China homes in on the country’s thriving digital payments industry. With just two weeks left in office, President Donald Trump has sent out a new executive order targeting Chinese payment apps. The Tuesday order bars United States citizens or people located in the U.S. from using nine Chinese payment apps. It continues the…
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The current conservative international financial system doesn’t suit young people or young economies, says Ma. Jack Ma, the now-retired founder of Alibaba Group, recently spoke to a crowd of bankers and regulators at the Bund Summit in Shanghai about the role digital currencies will likely play in the future global financial system: “Digital currency could create…
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But the company with the most patents isn’t even American. Despite Chinese firm Alibaba filing the most patents so far this year, the United States still takes the lead as the country with the most blockchain patents, a Sept. 17 report from intellectual property consultancy KISSPatent said. IBM and Alibaba hold the most blockchain patents.…
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